Friday, August 22, 2008

The Other MHS In More $$ Trouble

Sad story in the Globe today about the Massachusetts Horticultural Society, which remains on shaky financial ground and has now "'frozen' its accounts and will not pay creditors until an independent adviser completes a review of the organization's finances." The board of trustees has sent letters requesting "creditors to consider forgiving the group's debts and writing them off as charitable contributions."

The Horticultural Society famously sold off much of its rare book collection in 2002 for $5.45 million; the chairman of the board suggested yesterday that more of the Society's books may be deaccessioned to get them out of this particular jam. I hope it doesn't come to that, but things really don't sound good.