Board_of_Trustees_Minutes_1906_1920

REPORT OF INFIRMARY BUILDING COMMITTEE.

TO THE TRUSTEES OF W.F. College: The Infirmary Building Committee respectfully report that in the fall of last year plans, drawn in accordance with the views of the physicians on the Committee were adopted, and on Dec 15 a contract was made with Messrs Nicholson and Lashley of Graham, N.C. for the completion of the building in accordance with plans and specifications which are herwith submitted at a cost of $6600 °°. A subsequent change in the location involved an additional payment of $321.75.

The Infirmary is now suffieiently advanced to give some idea as to what will be its external appearance. For the erection of the building $3179.45 have been contributed. Of this amount $3077.81 have already been paid to the contractors. It will be necessary for the Trustees to authorize a loan of the balance needed or to make some other temporary arrangement for meeting weekly payments.

Appeals for financial aid for the completion of the Infirmary have been made to a large number of those who were thought most likely to contribute. The fact that, as yet favorable responses have been few is believed to be largely due to the recentness of the draft made upon the beneficence of our givers by the building just completed.

It is hoped that before the end of the year enough will have been secured to meet all the present obligations assumed by the Committee in behalf of the Trustees.

Still further outlay will be required for necessary plumbing not provided for in the contract.

In behalf of the Committee. →→CHAS. E. TAYLOR, CH'N.

Wake Forest, N.C. May 23 1906.

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The following Committees are appointed are appointed to consider the various matters in the President's report:

1st: Committee to nominate Assistant Professor of Law: Com: Messrs. WARD, FERRELL, ROYALL

2nd. Committee on appraisement of the property of the College: Com: SCARBOROUGH, HOLDING, MARSH.

3rd: Committee on the College Infirmary: Com: MARSH, RICHARDSON, LYNCH

4th: Committee on the College Fitting School: Com: BAILEY, JOHNSON, BROUGHTON

5th: Committee on Scholarships: Com: CAMPBELL, GWALTNEY and HUFHAM

6th: Committee on Endowment Movement: Com: JOHNSON, GWALTNEY and BROUGHTON

7th: COmmittee on Appropriations for the next year, and this committee is asked to consult Budget Committee from the Faculty: Com: HOBGOOD, TIMBERLAKE, BIGGS.

--o--

Report of Prof. J.B. Carlyle as to the Alumni Building:

TO THE BOARD OF TRUSTEES:

Gentlemen:- On behalf of the Alumni and friends of Wake Forest and for the Building Committee I take pleasure in turning over to you, complete and FREE FROM DEBT, THE ALUMNI BUILDING.

Three years ago, on Commencement Day, I publicly pledged myself to the erection of the building. Since then I have taken no vacation and no rest but have devoted myself unceasingly

to the fulfillment of this pledge. The difficulties and discouragements have been many, and at times it seemed that the strain was greater than i could bear. Last Summer I planned a trip to Europe and paid part of the passage money, but when I realized that a three months absence meant a years delay at least in the completion of the Building I abandoned the trip thereby forfeiting part of the small sum I had paid, and spent the entire vacation in earnest prosecution of the work.

The estimate on the cost of the Building by the architect, (Mr. C. W. Barrett (whom I desire to commend for his excellent service and liberal treatment) was $22000°° and certainly no contractor would have built it for less. We have erected it with considerably less than this amount, not by sacrificing excellence in the interest of economy for we have spent $4000°° for purely ornamental purposes, using the best material and paying good prices for skilled labor; but we have employed good business methods.

This result has been made possible by Dr. J. A. Gorrell the Treasurer and active member of our Committee, who with rare business judgment and tireless energy, has given his personal attention to every detail of the construction.

During these three years I have carried my regular work in the college, with the exception of one term of five months when I was in the field making ana ctive canvass. Then a special assistant was employed to teach Latin. The salary paid this assistant I have returned to the Bursar from my collections, so that this Building has been completed without the cost of a dollar to the College Treasury.

Incidentally while on my canvass I visited Bladenboro and secured from the Bridger Bros $1000 for the Infirmary, intending at the time to rais the money for and press the erection of both buildings at the same time, which I could have done easily. Before undertaking this work I asked to be appointed on the Building Committee, and also claimed the right to name a majority of the committee in sympathy with my ideas, This seemingly indefensible act of mine has, I think, been justified by the result. For fifteen years it has been my ambition to serve on a Building Committee at Wake Forest. This ambition has at last been gratified and I am content.

Witn a sense of profound gratitude for this opportunity to render a special service to the Old College whose interests I have sought with singleness of purpose to serve for eighteen years I beg to remain. Sincerely, J. B. CARLYLE."

On motion it was ordered that the report be accepted and placed upon the minutes of the Board of Trustees, and that the thanks of the Board be extended Prof. Carlyle, Dr Gorrell and members of Building Committee. --o--

Moved that the Treasurer pay to Prof. J. B. Carlyle such amount as he forfeited in failing to go to Europe after buying his passage, to remain here to work for the Alumni Building. The amount is stated as small --o--

The Treasurer distributes his and the Bursar's Annual Report and explains such items as are asked about. The summary of the report is as follows:

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SUMMARY OF ENDOWMENT.

Total as reported May 1 1905	$210,176.93
Received on New Endowment	- 20.30
$210,197.23.

SUMMARY OF BOSTWICK DOAN FUND.

Total as reported May 1, 1905	$ 68,176.31
Less for compromises as shown	741.35

as ordered	5,883.60	6,624.95
Total May 1, 1906.	$ 61,551.36

SUMMARY OF MINISTERIAL EDUCATION FUND.

The J. A. Melke Fund	$ 6,704.18

William A. Jenkins	750.00
The W. J. Gatling Fund	500.00
The Angelina White Fund (part of legacy)	600.00

legacy stated that it is now invested in 6 per cent bonds of Melrose Knitting Mills $5,000.00 Spartanburg, Union and Columbia R.R. 4 per cent bonds, $4000**. 20 shares N.O.R.R. stock 7 per cent $2,000** Increased from Melke will during year $37.51 The legacy from Mrs. V. B. Swepson has yielded income as shown, but as the amount to be received is as uet unkown and has not come into the hands of the treasurer is not listed. Total fund invested at 6 per cent ..$ 8,554.18

SUMMARY OF FUND FOR CHAIR OF THE BIBLE.

Amount in Raleigh Savings Bank May 1905	$ 62.96
Interested received July 1905 January 1906	2.52

==SUMMARY OF CASH IN CITIZENS NATIONAL BANK AND IN THE RALEIGH SAVINGS BANK.==

Endowment	$4,711.62
Interest Fund	8.45
Bostwick Loan Fund	443.58
Chair of the Bible	65.48
Ministerial education	0.00
New Endowment	20.30

GRAND SUMMARY

Endowment	$210,176.93
New Endowment	20.30
Bostwick Loan Fund	61551.36
Ministerial education	8554.18
Chair of the Bible	65.48

---RECAPITULATION---

General Endowment	$210,176.93	Income past fiscal year
Bostwick Loan Fund	68,176.31	$16,952.06
$278,353.24	Income past fiscal year
$5,889.69
Ministerial Education	8516.67	Income past fiscal year
Chair of the Bible	62.96	$1,145.00

2.43
Total income	$23,989.18

I, N. B. Broughton, certify that I have carefully examined the report of Thomas H. Briggs, Treasurer, and find it correct and sustained by proper vouchers. I further certify that all bonds, mortgages, deeds, insurance policies, evidence of debt, and securities of every kind entrusted to the care and safe-keeping of the Treasurer are to be found in his poossession or in the hands of his attorneys for collection. The books, papers etc., are all kept in a business-like, systematic way, and reflectmuch credit upon the ability and faithfulness of our Treasurer. Raleigh, N.C. May 8th 1906. N. B. BROUGHTON, Auditor.

SUMMARY OF REPORT OF THE TREASURER, J. B. CARLYLE, OF THE STUDENTS AID FUND FOR THE YEAR ENDING JUNE 1 1906.

RECEIPTS

Balance on hand from last report	$133.72
From interest and notes collected	2,425.54
Total receipts	$2,559.26

DISBURSEMENTS

Paid in loans to 37 students	$1,972.65
Balance in hands of treasurer	586.61
Total	$2,559.26

Total permanent fund invested at 6%	$6,485.45
Total interest fund loaned to students at 4 and 5 per cent	11,209.49
Total amount of Aid Fund	17,694.94
Increase since last report	904.12

SUMMARY OF BURSAR'S REPORT FOR SCHOLASTIC YEAR 1905-'06 RECEIPTS

From T. H. Briggs, Treasurer	$22,195.19
Bills receivable	481.82
Book accounts	1,033.05
Degrees	190.00
Chemistry	863.06
Biology	142.80
Physics	195.38
Library	11.70
Miscellaneous	241.27
Medical Department	6.98
Students	$10,546.89
In Citizens National Bank, last report	.65

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SUMMARY OF BURSAR'S REPORT con. =DISBURSMENTS=

Disbursement	Amount
Expenses	$ 4,731.77
Library	583.33
Chemistry	441.84
Physics	37.17
Biology	6.00
Medical department	964.47
Gymnasium	129.99
Board of Education	1,069
Law Books	17.50
Lectures	16.25
Infirmary	1,163.45
Glee Club	50.00
Interest	156.21
Salaries	26,452.56
In Citizens National Bank	88.92
	$35,908.79 $35,908.79

=RESOURCES=

Location of money	Amount
In Citizens National Bank	88.92
Accounts	11,989.33
Notes	19,228.88
One Share Oxford Furiture Co.	125.50
	$31,432.63

=LIABILITIES=

Sources of Expenditure	Amount
N.C.Baptist Student Aid Fund	$2,759.72
C. E. Taylor	188.00
W. L. Potest	250.00
W. B. Royall	150.00
L. R. Mills	350.81
B. F. Sledd	150.00
C. E. Brewer	150.00
J. F. Lannsau	150.00
J. B. Carlyle	150.00
N. Y. Gulley	150.00
J. H. Gorrell	145.00
W. R. Cullom	44.75
E. W. Sikes	150.00
J. L. Lake	150.00
D. Eatman	150.00
5. M. Gaines	125.00
G. W. Paschal	150.00
Note	Total Amount
	$5,363.28
Less Amount in Bank	88.92
	$5,274.36
Liabilities last year	4,449.39
In crease in liabilities	$ 824.97

=ANALYSIS OF CHARGES AGAINST STUDENTS AND COLLECTIONS THEREFROM-- TUITION FALL AND SPRING TERM.=

Fees paid by Students	Amount
Tuition Fall and Spring Terms	$7,806.26
Rooms Fall and Spring Terms	982.05
Matriculation fees	5,282.58
Medical fees	1,320.65
fees for degrees	190.00
Chemical fees	863.06
Biological fees	142.80
Physics fees	195.38
Cash collected	$12,701.48
Notes & accounts	4,081.30
	$16,782.78 $16,782.78

Respectfully submitted. L. R. MILLS, Bursar.