Board_of_Trustees_Minutes_1906_1920

I have today carefully examined the account of Prof. L.R. Mills, Bursar, of which the foregoing is a summary and have found it correct and that he has proper vouchers for all disbursements made. Wake Forest, N.C. May 9 1906. R.E. ROYALL, Auditor

---------- [*Buy Land at W.F.*] Moved that R.E. Royall, E.W. Timberlake and A.D. Ward Be appointed a committee to consider the advisability of the purchase of any available property or lands within or near the corporate limits of Wake Forest and to suggest the best method of making payment for same. R.H. MARSH

---------- [*Pres Poteat Report*] President Poteat is requested to print his report hereafter, and distribute the same to the members of the Board five days before the annual meeting

---------- [*Bostwick Endowment*] The Treasurer is ordered to report the "Bostwick Loan Fund" as the "Bostwick Endowment".

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A letter is received and read from Bro. J.H. Tucker, explaining that a legal matter detained him at the last moment.

---------- [*Election Trustees*] ELECTION OF TRUSTEES TO FILL VACANCIES

Bro. E.F. Aydlett is elected to succeed himself on the Board of Trustees

Dr. R.P. Thomas of Cofield, Hertford County, N.c. is elected to succeed Dr. John Mitchell, deceased.

John A. Oates of Fayetteville, N.C. is elected to succeed Bro. J.C. Caddell, resigned.

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Moved, that Prof Ferrell and Prest Poteat wire the S.A.L.R.R. Authorities asking promulgation of special rates to those attending Commencement.

---------- [*Officers*] ELECTION OF OFFICERS OF BOARD.

W.C. Tyree, Chairman; A.D. Ward, Wice President; W.N. Jones, Attorney; T.H. Briggs, Treasurer; Cary J. Hunter Secretary; N.B. Broughton, Auditor Treasurer's Report; R.E. Royall, Auditor Bursar's report; L.R. Mills Bur sar

[*Exc. Com*] EXECUTIVE COMMITTEE

Hunter, johnson, Tyree, Dockery, Royall, Bailey, Vann.

INVESTMENT COMMITTEE

Hunter, Broughton, Holding and Johnson.

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13 Standard Oil? Moved that the Treasurer be asked to acknowlege the receipt of a statement of the Directors of the Standard Oil Company to its share-holders in the Company's defense against charges by Commissioner Garfield as to freight rebates, and that the statement be filed with the Treasurer to be kept with our valuable papers. ---------- Com. on Investments Bro. Holding moves that a Committee be appointed to examine our investments and report whether advisable to sell or change any of them. Committee: HOLDING, BROUGHTON, BRIGGS, JONES and HUNTER. -------- ==The Board then adjourns to meet at 9 A. M. to-morrow

Secretary.

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S_E_C_O_N_D M_E_E_T_I_N_G. THURSDAY, May 24th 1906. 9 A. M. The Board of Trustees of Wake Forest College meet at the hour named and is called to order by Dr. Tyree. Prayer by Bro. Johnson. Members present: Tyree, C. W. Mitchell, Norwood Richardson, Lynch, Timberlake, Holding, Hufham, Jones (Atty), Broughton, Briggs (Treas), Hunter, Scarborough, Gwaltney, Hobgood, Marsh, Vann, Campbell, Reyall, Ward. Minutes of yesterday's session read and approved --------- The Committee on Infirmary reports as follows: Infirmary Board of Directors? REPORT ON INFIRMARY Your Committee, to whom was refeered that part of the President's report which relates to the Infirmary, beg leave to report and recomment: 1. That the organization, equipment and management of the infirmary be intrusted to, and vested in a Board of Directors to be composed of five members. 2. That said Board shall make annual Reports to the Trustees and shall embody in the printed report of the Treasurer and Bursar a summary of receipts of the Infirmary. 3. That the Board of Directors for the ensuing year shall consist of the following members, to-wit: R. E. Royall, E. W. Timberlake, J. W. Lynch, W. L. Poteat and L. R. Mills.. 4. That the Board of Directors shall be charged with the duty of securing by gifts and otherwise, the funds necessary for the completion of the building now under control, and shall pay over the same to the present building committee. 5. That the Treasurer of the College shall be authorized and directed to borrow, on the written application of the Board

of Directors of the infirmary such amounts of money as may be necessary to meet the requirements of the present contract of the Building comittee, and including the plumbing also for the purpose of equipping the Infirmary as its efficiency may require. Respectfully submitted, R. H. Marsh ) J. W. Lynch ) Comittee. J. B. Richardson )

[*Board of Directors for Infirmary changed to managing committee*] The following amendments to the Report of Infirmary Committee are proposed: "1st. Instead of "Board of Directors" in Infirmary Report, a "Managing Comittee" which shall be elected annually with power to act in the organisation, equipment 2nd. That this committee of five turn over to the Bursar all funds collected, and that the Bursar issue checks to meet the payments under the contract for completeing the building and equipping the same. 3rd. Amount for equipping the Infirmary is limited by Hobgood, to $1000.00". The report, as amended, is adopted ---------- Bro. Vann moves that the matter of engaging an Assistant in English be referred to the Committee on a "Fitting School." ---------- The Committee on Endowments Reports as follows:

COMMITTEE ON ENDOWMENT [*Endowment*]

Your committee on endowment movement beg leave to submit the following report:

1. There must be a work of preparation. The masses of our people do not see the necessity of increasing our endowment fund, and a campaign of education will be necessary to make them see it. This will take time, but we must not expect that a great undertaking of this kind can be accomplised in a day. 2. We suggest that this work of preparation can be done by enlisting the pastors, and by having the needs of the College presented to the associations by some representative or representatives of the College 3. We recommend that the president of the College be asked to head the movement, and that he be allowed to employ such clerical help as he shall need, and that other necessary expenses for agency purposes be paid by the Bursar of the College. LIVINGSTON JOHNSON N. B. BROUGHTON W. R. GWALTNEY. A_D_O_P_T_E_D. ---------- [*Appraisement of College Property*]

REPORT OF COMMITTEE ON APPRAISEMENT. Your Committee to consider the President's recommendation in reference to appraising the property of the College of whatever sort, report as follows : We recommend that the matter be referred to the

Executive Committee with instructions to said Committee to select a committee of competent experts in the appraisement of real and personal proprty including libraries and apparatus of carious kinds, and instruct said committee of experts to do this work and report fully and as accurately as possible the value of the property of the College to the Executive Committee the report to be filed with the Treasurer of the Board of Trustees sor such use as may be proper to make of the same, and that the executive committee be authorized to direct the Bursar to pay the expenses of such appraisements. JOHN C. SCARBOROUGH J. N. HOLDING R. H. MARSH A_D_O_P_T_E_D.

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The Board adjourns to meet at 2:30 this P. M.

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THURSDAY, May 24th 1906. 2:30 P. M.

The Board reassembles according to order of adjournment. On motion, Bro. Scarborough is called to the chair. Members present: SCARBOROUGH? JOHNSON, HOLDING, HUFHAM, RICHARDSON, C. W. MITCHELL, NORWOOD, JONES (Atty), BROUGHTON, BRIGGS (Treas) HOBGOOD, LYNCH, PREST. POTEAT, GWALTNEY, MARSH, ROYALL, TIMBERLAKE, HUNTER, BAILEY, CAMPBELL.

---------- [*Quick reading Minutes]

Moved by N. B. Broughton that the reading minutes of former year at first meeting of this Board be dispensed with, and that Secretary call up unfinished business instead. The motion was adopted.

---------- [R.R. Rates]

It is moved that the President of the College arrange Railroad rates and accomodation prior to commencement.

---------- [Hon. Degrees]

The Honorary Degrees are conferred on the following gentlemen: L. L. D. on CHARLES LEE SMITH, Of Georgia L. L. D. on BLISS PERRY of Boston, and the Secretary is requested to notify these parties.

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Moved that $150.00 be appropriated for Lectures. Motion referred to the Committee on appropriations.

---------- [Com. on Investments]

The following report is received from the Committee on Investments: "Your committee on changes of investments beg leave to report as follows: We recommend that the making of any change in the securities, bonds and stocks of the College be referred to

the Executive Committee and the Investment Committee jointly with power and authority to sell, change or exchange any of said securities, bonds and stocks that the said Committees acting jointly may deem best for the interest of the College.

J. N. HOLDING T. H. BRIGGS A_D_O_P_T_E_D. CARY J. HUNTER N. B. BROUGHTON W. N. JONES

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On motion it is ordered that all speeches be limited to three minutes and to one speech on each subject.

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The following report is received form the Committee on Fitting School: [Fitting School] REPORT ON FITTING SCHOOL We reccomend that the Fitting School be established on the following lines: 1. Employing a teacher--compensation referred to the Bord (Salary offered Prof. Ferrell $1200⁰⁰) 2. Separating the sub-collegiate from the collegiate students. 3. Renting a house or houses for dormitory purposes. 4. Equiping and adapting the Little Chapel as a study hall. 5. The appointment of Messrs Poteat, Eatman and Brewer to co-operate with the Executive Committee in arranging such details this summer as may not be arranged by the Board in session now.

J. W. BAILEY L. JOHNSON. N. B. BROUGHTON A_D_O_P_T_E_D.

---------- [Committee to appoint] [Head Master [Illegible]] [for fitting school]

Bro. Bailey moved that a Committee be appointed to nominate a Head Master for the Fitting School. The following gentlemen are appointed to serve on that Committee: Messrs Bailey, Norwood and Johnson.

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The following report is received from the Committee on the "Advisability of Purchasing Other Real Estate:" [Buy Real Estate] "Your committee on the Advisability of purchasing other real estate" beg to report that we recomment the purchase of the Taylor house at the price of $2700⁰⁰; that a committee be appointed to negotiate the purchase of other real estate with full power to act with the approval of the Investing Committee, and that the purchase money be paid from funds the Treasurer is hereby authorized to borrow for said purpose. WARD ADOPTED ROYALL TIMBERLAKE, Committee" The following committee isappointed: Messrs ROYALL, TIMBERLAKE and LYNCH.

---------- [Scholarship] The following report is received from Committee on Scholarships: "Your Committee to whom was referred the subject