* Mitchell Armentrout at the Sun-Times…
More than a year after issuing a warning cry that dire financial straits might force them to sell the prized stovepipe hat that purportedly — but debatably — belonged to the 16th president, officials from the Abraham Lincoln Presidential Library Foundation announced Wednesday they’ve reached a new loan agreement that means the organization “no longer needs to consider auctioning off any of the artifacts.” […]
The foundation borrowed $23 million in 2007 to buy the Taper Collection, a trove of more than a thousand items including the bloodstained gloves Mary Todd Lincoln wore the night of the president’s assassination, and, most notably, the famed beaver-fur hat. […]
But an uptick in private fundraising earlier this year allowed the foundation to make “a larger-than-normal payment to principal,” and they’ve reached a loan extension agreement with Lake Forest Bank & Trust that now matures Oct. 31, 2022, and “includes a more favorable interest rate.” … They’ve paid off more than $22 million of the $31 million debt.
The debt had been $9.7 million.