NORTH ATTLEBORO - The donation of a Russian masterpiece to the school department came with no strings attached, according to documents dating back a half-century.

School officials have been poring over school committee minutes dating from 1937 to 1965 since learning last week that the Alexandre Iacovleff painting could be worth $1 million or more.

The research turned up two references to the painting in minutes of meetings from 1951 that confirm that Charles Thompson donated the artwork directly to the school department. None of the minutes make reference to any conditions placed on the gift.

Thompson's grandson, Gregory Smith, has appealed to the town not to rush to sell the painting. The school department has scheduled a meeting with Smith to discuss whether the painting should be kept or sold, and if so, how proceeds of the sale should be used.

School officials have expressed concern that the town doesn't have the means to safely store or display the painting. The minutes from 1951 indicate the painting was worth about $3,500 at the time it was donated - far less than the recent $600,000- to $800,000-appraisal from Sotheby's auction house in New York.

The painting could sell for far more if the town decides to auction it, experts say. One of Iacovleff's paintings recently sold for $2 million.

The painting hung for decades in the auditorium of the Community School, the town's former high school.

Minutes of the Jan. 8, 1951, school committee meeting report that W. Charles Thompson approached the board with a "proposal to place a picture in the auditorium of the high school on the left-hand side. He gave a short talk explaining the value of the picture and the various shows it had been in. He believes the picture will be appreciated by the students."

School committee members at the time indicated the donation was "a fine gesture" and approved it.

Although the donation was approved in January 1951, Thompson asked the donation be kept confidential until the painting could be formally presented in May.

A second set of minutes from May 7, 1951, reports that Thompson asked to use what was then the high school auditorium for a three-day art exhibition.

No date for the exhibition was reported in school committee minutes, but it is possible Thompson hung the painting on the school's wall for that event.

Gregory Smith said his grandfather personally hung the painting in the school auditorium.

After school officials became aware last week of the painting's value, it was sent to Sotheby's, which agreed to store and insure the artwork. The 7-foot by 10-foot painting titled "Afghans" depicts Afghan tribesman resting on a hillside.

Sotheby's received the painting on Tuesday and confirmed it is an original Iacovleff.