Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1867-04-05
The Peabody Ehucatiop Funa

The meetings Of Mr.. PeabOdy's trustees,
who are to manage his nunifcent Educa-
tiOn Fund for the benefit Of the Southern
and Southwestern States. were terminated
on Friday last. but the members Of the
Board met on Saturday. informally, and
the Chairman, Hon. r. c. Winthrop. left
for Boston. and Mr.. Peabody went to
Springfield Yesterday, on his way to Dan
YerS.
The following members were present ::
Messrs. r. S. Winthrop. Fish. Bishop.
McIlvainc, Gen Grant Admiral Farragut,
Messrs. Rivcs, Clifford, Aiken. Evarts. Ora
ham,s Manchester. Riggs, Wetmorc. Eaton
and Russell.
On the 4th OF March orders from Mr..
Peabody for bonds covering the whole
amount OF his gift were received. These
were referred to tho Finance committee
The whole subject of the trust was then
discussed. From the committee on Inves-
tigation and Inquiry report was made by
Bishop McIlvaine, to the effect that for the
present the promotion of Primary or Com
mon School Education, by now existing or
other agencies, be the leading object of the
Board. To aid this design Normal School
Education, to prepare teachers, will be ia
yOred, and scholarships endowed in nov
existing Southern halls of learning. Edu-
cation III aid OF the application of science
10 industrial pursuits will he another pur-
pose of the Trustees.
A general agent, under the direction of
the Executive Committee, is 10 do much OF
the business. Rev. DIR. Sears, of Brown
University, was selected for this office For
two days he was in session with the Trus-
tees, but held his appointment under de-
liberation.
The Chairman lE to appoint an executive
committee OF i've to carry out, with the
general agent, the views of the Board
The next annual meeting will take place
in this city on the third Tuesday of June.
1868, and the Chairman is authorized to
call meetings at the will OF the Executive
Committee. The Board agreed to meet in
Richmond on the third Tuesday of January
next.
The Executive committee comprises
Messrs. McIvaine, Aiken, Evarts, Graham,
Eaton and the Chairman ec-ofici0.
On the subject of legal organization and
custody of funds, Gov. Clifford reported in
favor of empowering Messrs. Fish and
Averts to obtain from the New York Lecsis-
lature q copy OF incorporation for the Trus-
tees of the Peabody Educational Fund, the
funds to be transferred to said intended
corporation.
A Treasurer, subject to the concurrence
OF the Finance committee in disbursements,
was chosen-Mr. Samuel Wetmore of this
city. The Finance committee consists OF
Messrs. Fish, Macalester, Clifford, Riggs
and Wetmore.
A large number of applications for aid
from educational institutions in the South
We're referred to the General Agent.
MIR. Peabody addressed a letter to the
trustees, making known his designs. He
gives the Trustees absolute discretion as to
the particular localities in which the fund
shall be extended. He hopes every Dor
ton of the South may sooner or later en-
Joy benefits from the fund. He does not
intend to bind the Trustees to Distribute
the fund in any measure or proportion. OF
create any claims on tha part OF anv State
to the distribution.
He subjects the Trustees. neither colloc.
lively nor individually, to any responsibility
TO those intended to be benefited, OF to any
responsibility of any kind-he has entire
confidence IN their wisdom, equity anG
noenty; The resolutions of thanks to Mr.
Peabody, which were read at the recen
banquet, having been adopted, Bishol
Mcliyaine made an appropropriate PRAYER
and the Board adjourned.