Board_of_Trustees_Minutes_1906_1920

THE GENERAL EDUCATION BOARD'S PROPOSITION

On motion the following conditional appropriation was made to Wake Forest College, Wake Forest, N.C.:

GENERAL EDUCATION BOARD Will contribute to Wake Forest College, located at Wake Forest in the state of North Carolina, the sum of thirty seven five hundred dollars ($37,500) For the endowment of said institution, upon the following conditions:

That on or before the thirty first day of December 1907 there shall have been contributed to the said College in cash or pledged to the same by responsible persons in legally valid subscriptions satisfactory to this Board, Payable on or before the thirty-first day of December 1910, a supplemental sum of not less than one hundred and twelve thousand five hundred dollars ($112,500) for the endowment of the College; it being expressly understood and agreed that neither legacies nor contributions to scholarship or fellowship funds shall be counted as part of the said sum of one hundred twelve thousand, five hundred dollars ($112, 500) above mentioned and that no contributions shall be counted toward the fulfillment of this pledge except those which have been or shall be secured in connection with the canvass now under way to secure the addition of one hundred and fifty thousand dollars ($150,000) to the permanent funds of the College.

By the acceptance of this pledge the said College for itself and its successors, covenants and agrees:

FIRST: That the amount so contributed by this Board, together with the supplemental sum of one hundred twelve thousand five hundred dollars ($112, 500) aforesaid will be safely invested and forever preserved invoilably as endowment for the said college, the income only to be available for its uses.

[*No part to be used for specifically theological instruction*] SECOND. That no part of the income from the fund so contributed by this Board shall ever be used for specifically theological instruction.

THIRD: That in case the said College shall ever divert any part of the endowment funds which it now has or which it may hereafter acquire, then and in that case the said sum which shall have been so contributed by this Board pursuant to the terms of this pledge shall let the option of this Board revert to it.

FOURTH: That the accredited representatives of this Board shall at all reasonable times have the right to inspect the books, accounts and securities of said college.

FIFTH: That the sum so contributed by this Board shall be forever held as a separate fund and be separately invested so that its identity shall be at all times preserved, and that this Board shall forever have and retain a specific lian on said fund, and on the securities in which it shall from time to time be invested as security for the faithful observance by said College of the terms of this agreement.

Beginning within ninety days after the Chairman of this Board and the Secretary for the South shall certify that the conditions of this subscription shall have been fulfilled, the General Education Board will pay the same in annual installments in equal ratio with the corresponding annual payments on the supplemental funds herein required to be raised. PROVIDED, that if any portion of this subscription shall not become due and payable according to these prescribed terms on or before the thirty first day of May 1910, then this subscription shall as to such portion become void. Dated May 29, 1906.

GENERAL EDUCATION BOARD

WALLACE BUTTRICK, Secretary. By ROBT. C. OGDEN, Chairman

ACCEPTANCE BY THE BOARD OF TRUSTEES OF WAKE FOREST COLLEGE, OF THE PROPOSITION MADE TO THEM BY THE GENERAL EDUCATION BOARD OF NEW YORK. [* Acceptance of General Education Board of New York *]

Raleigh, N. C. Jul21, 1906. Mr Wallace Buttrick, Sec'y General Education Board, New York City: -- Dear sir: -- The undersigned would respectfully communicate to the General Education Board that the Trustees of Wake Forest College met at a call meeting of said Board in the City of Raleigh on July 20th 1906 to consider the conditional appropriation made to Wake Forest College by the General Education Board, under date June 14 1906; and after considering the terms of said conditional appropriation of the said Trustees adopted the following resolution: "The Board of Trustees of Wake Forest College hereby accpets the conditional pledge, or appropriation, of the General Education Board, dated May 29th 1906, copy of which is hereto attached, and covenants and agrees that if the terms of said pledge or appropration are complied with and money paid by the said General Education Board, that the Board of Trustees of Wake Forest College will faithfully perform the covenants on behalf of said College contained in said pledge or appropriation. We, the undersigned officers of said College certify that the foregoing is a truy copy of the resolution adopted by the Trustees of Wake Forest College at the said call meeting in the City of Raleigh on July 20 1906. ......................................... Sec'y ......................................... Pres't Bd. Trustees Wake Forest College. Bd. Trustees Wake Forest College.

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By motion of Hon J. C. Scarborough Mr. Crozier, Instructor of Physical culture is to be paid $800⁰⁰ instead of $600⁰⁰ as formerly.

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By motion of Bro. Scarborough, J. D. Ives is appointed Instructor in Biology for 1906 and 7 at a salary of $500⁰⁰.

--------- [* Fitting School postponed *]

Bro Scarborough moved that the action of the Board establishing the Fitting School be postponed -- that the said school be not established for the next year.

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Bro. Timberlake moved that the Faculty be authorized to employ an instructor in English at a salary of not exceeding $500⁰⁰.

--------- [* Scholarship *] Bro. Scarborough made the following motion as to the use of scholarships: "It is moved and carried that any scholarship of any school entitled to a scholarship unclaimed by said school may be placed the faculty to any other school for the current year." ---------- By motion of Bro.Norwood an appropriation of $300⁰⁰ is voted for the Library to purchase books. ---------- [* Endowment agt[?] with Exc. Com *] By motion of Timberlake the matter of selecting an agent to raise endowment was referred to the Executive Committee. The Board then adjourned.

MEETING OF THE EXECUTIVE COMMITTEE. Raleigh, N. C. Sept 8 1906. The executive committee of the Board of Trustees of Wake Forest College met at the call of the Chairman. Present: Carey J. Hunter, Chairman; J. W. Bailey, L. Johnson, R. E. Royall, W. C. Tyree and R. T. Vann. Also, by invitation, President W. L. Poteat and Attorney W. N. Jones.

-- ------ The object of the meeting as explained in the call, was to appoint a main to raise out $150,000 additional endowment.

---------- [* Prof. Carlyle raise Endowment *] Upon motion of J. W. Bailey, Prof. J. B. Carlyle of the Chair of Latin was unanimously appointed to the important task. He is to receive a salary of eighte en hundred dollars per annum, while engaged in this work. His travelling expenses are also to be paid by the College.

---------- [* Agents *] President Poteat and Prof. Carlyle were empowered to employ an agent or agents to canvass the field in connection with the raising of said additional endowment and to arrange compensation for said agents, and also their expenses.

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A loan of $5000 made by Investing Committee to Caraleigh Mills Co, signed by nine (9) of the directors of that corporation as individuals, was approved by the Executive Committee.

---------- [* Care for Students *] Upon motion of W. C. Tyree, the faculty was authorized to make such arrangesments for taking care of the students--procuring board and lodging for them-- as the faculty may deem necessary.

--------- [* Com. to Appraise *] C. J. Hunter, W. N. Jones, T. H. Briggs and R. E. Royall, were appointed a Committee to make an appraisal of the College property.

---------- [* Hotel lot and Commons Hall *] W. L. Poteat, L. R. Mills and R. E. Royall were appointed a Committee to report on an advisability of selling a lot in the College Campus for the purpose of building a hotel. To the same Committee is referred the matter of establishing a Commons Hall.

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The Committee then adjourned.

R. E. Royall, Secretary.

MEETING OF THE BOARD OF TRUSTEES WAKE FOREST COLLEGE. Greenboro, N. C. Dec. 7th, 1906 3:30 P.M. Meeting of Board Trustees Wake Forest College. President Poteat reads report suggested of Board of Trustees to the Convention.

---------- Present: W. C. Tyree, Chmn; F. P. Hobgood, E. W. Timberlake, R. T. Vann, J. C. Scarborough, J. W. Lynch, L. Johnson, H. C. Dockery, J. B. Boone, Dr Parrott, W. C. Dowd, J. B. Richardson, J. T. J. Battle, C. J. Hunter, J. A. Campbell W. R. Gwaltney, J. H. Tucket.

--------- [* Endowment *] The following resolution is introduced: "Recognizing the valuable services of Prof. J. B. Carlyle at Wake Forest College, not only as an able and zealous Professor, but as an indomitable collector of funds for the college, We therefore earnestly request him to take up the work of raising the proposed additional endowment for the College and that he give his full time to this work; and that the faculty is hereby authorized to supply his place in his college work until he completes this work." ADOPTED.

----------- Bro. Dowd moves that if Prof. Carlyle does not accept the work of raising the endowment the matter shall be referred to the Executive Committee with instructions to act.

----------- Moved that Prof. Carlyle's salary be continued through the vacation and his travelling expenses be paid.

----------- By motion Bros Dowd, Dockery and Hunter are appointed a Committee to see Prof Carlyle and urge him to accept the work of raising the endowment.

---------- The matter of selling a lot for the purpose of building a hotel is indefinitely postponed.

---------- Bro. Scarborough moves that the Bursar be instructed to pay not exceeding $300⁰⁰ to relieve the debts of the Infirmary for equipment, if so much is needed. This amount in excess of previous appropriations for equipment.

--------- Bro Hobgood moves that the Treasurer be and he is hereby instructed to borrow not in excess of $1000 to relieve the demands for equipment of the Alumni Building, paying the same to Dr J. H. Gorrell, Chairman of the Committee on Buildings and Grounds through the Bursar.

---------- The Board then adjourned. W. C. TYREE, Chairman. ---------------------- Secretary.

-----CALL----- Raleigh, N. C. 2/2nd 1907 Dear Bro:-- There will be a meeting of the Executive Committee of the Board of Trustees of Wake Forest College next Tuesday afternoon, Feb 5th at three o'clock. The Finance Committee is hereby also requested to meet with the Executive Committee. Place of meeting in my office. Sincerely yours, CAREY J. HUNTER, Chairman.

---------- MEETING OF EXECUTIVE AND INVESTING COMMITTEES Raleigh, N. C. February 5 1907. The Executive and Investing Committees met, Present: C. J. Hunter, J. W. Bailey, L. Johnson, W. C. Tyree, R. T. Vann and R. E. Royall, also president Poteat, Treasurer Briggs and also Bro N. B. Broughton of the Investing Committee and J. N. Holding of Investing Committee. (Bro Hunter and Bro Johnson were also members of said Investing Committee). Attorney Jones attended the joint meeting of the Executive and Investing Committees.

---------- [* Bursar Earnshaw *] On account of illness of Bursar L. R. Mills, his Clerk, Mr. E. B. Earnshaw, was asked to do all the work of the Bursar until June 1907, and was authorized to receive and pay out monies and sign checks. For this compensation of $50 was voted him, and he is required to give $500 bond, for which the College will pay. The attached motion in regard to Prof. L. R. Mills is unanimously and heartily adopted: MOTION "We, the Executive Committee of the Board of Trustees of Wake Forest College hear with deep regret of the illness of Prof. Mills. We request Prest. Poteat to convey to him our sincere sympathy and to express to him our hope that he will soon recover and to request him to rest as long as it may be necessary for his complete restoration to health and strength. L. JOHNSON, Sec Pro Tem ---------- [* Sell? Standard Oil? *] Bros. Jones, Hunter and Dr. Taylor are appointed to examine into the facts as to the Standard Oil stock and report to the Committee as to whether they think it should be sold etc.

--------- The Committees then adjourned.

R. E. ROYALL, Secretary.