The New Jersey Symphony Orchestra released a 66 page report from their Trustee Review Panel regarding the collection of string instruments purchased from Herbert Axelrod.
The report will be examined in detail next week, in the meantime, here’s the initial paragraph from the report’s conclusion:
“As emphasized earlier, the true value of the instruments for the NJSO lies in the attitude of the Orchestra’s musicians. The psychological boon to the NJSO’s musicians of being able to play a great instrument cannot be underrated. We believe that, between the heightened morale of the musicians and the indisputable beauty of the sound of the Golden Age Collection, this was an investment the Orchestra will always be proud to have made.”
So it appears that the actual dollar amount value of the instruments really doesn’t matter to the committee. That’s an unusual conclusion since the lending institutions the NJSO borrowed from and the insurance companies are less likely to accept those criteria to determine a dollar value.
Stay tuned, the saga is undoubtedly far from over