The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1888-05-02
A synopsis OF the Will.

synopsis OF the Will.
There has been some speculation as to
the provisions of the will of the late Thos.
G. clemson, touching the founding Of an
agricultural college at the Fort Hill planta-
ton. The keowee Courier has made the
following abstract, which must prove OF
interest:
Item l bequeaths the Fort Hill place,
containing Sl4 acres, more or less, 10 the
executor, in trust, that when the State
shall accept said property as a donation
for the purpose of founding an agricul-
tural college thereon, in accordance with
the views OF the will (of which the Chief
Justice of South Carolina shall be the
judge''), the executor shall decd the place
10 the State and turn over to it, as an en-
dowment Of said institution, all the prop
erty hereinafter given for that purpose;
provided the State shall signify its accept
ance of the donation and begin practical
carving out thereof within three years
after the probate of the will. Until such
acceptance the executor is to invest the net
produce of the land and other property for
the endowment fund, if accepted by the
State; and if not so accepted, for the school
hereinafter provided for.
Item 2 appoints r. w. Simpson, D. K.
Norris, NJ. L. Donaldson, 4. E. Bowen, b.
K. Tillman, J. Z. Wannamaker and j. E.
Bradley, seven in number, trustees, with
the power to fill all vacancies from any
cause, in perpetuity, and expressly denies
the State the power to take away or abridge
theirs powers or number, but the State
may provide through the Legislature, as it
sees proper, on accepting the donation, for
the appointment or election of six other
trustees, the maximum number Of trustees
being limited to thirteen forever. The
last clause of this item reads: The name
of this institution shall be the Clemson
Agricultural College of South Carolina. "
The trustees are requested to meet as soon
after the death of lestator as practicable,
fill all vacancies, if any, and proceed at
once to efectuate, as far as they can, the
purposes Of the will.
Item 3. Upon the actual refusal OF the
State to accept the donation made IN and
upon the terms Of the will, or upon its nom
acceptance by the State within the three
years, upon the terms and conditions
named, the donation to the State is revoked
and the executor IN execution OF his trust
shall convey the Fort Hill place and the
accumulated fund arising therefrom, to-
gether with all other property, real or per
sonal, hereinafter disposed OF and intended
to be given to the said agricultural college
as an endowment. to the seven trustees
named above or their successors, who shall
erect upon the Fort Hill place such school
or college for the youth OF South Carolina
Us in their Judgment will be for their best
interest" with provlso that the scnool
shall be principally for tie benefit OF the
! agricultural and mechanical classes, and
shall be free to the pupils as far as the land
and endowment fund will permit. The
trustees are directed to securely invest the
funds and ncld them as perpetual endoW-
ment Of the institution, using only the In
terest and income from the land, except the
trustees are permitted, for the cost OF erect
ing suitable buildings, to use the income OF
the land and accumulated Interest after his
death and as much as $4,000 of the corpus,
if necessary in their judgment. The ltem
| closes: The name or this institution shall
be the Clemson Scientific School or Col
.ege.'"
Item directs that the dwelling on Fort
Hill shall never be torn down or altered,
but shall be kept in repair with all articles
of furniture, DC, given for that purpose,
and shall always be kept open for the In
sp. ction of visitors, allowing such part OF
! the house to be used by professors rs the
trustees direct.
Of the value Of the property thus be-
queathed, the Courier makes the follow
ing estimate:
The amount likely 10 accrue to the State
for the college has been variously estimated
by conjecture From a talk with Colonel
Simpson, who is a good lawyer and ac-
countant and who, from his position as ex-
| ecutor, has access to sources OF true IN
formation. we can speak with some degree
of certainty. Col Simpson informed US
the property consisted largely of stocks
and bonds of interpretations of this and
other States and personal bonds well Sc
cured. Upon rough estimate OF the
principal and interest on such investments
and premiums now rated on same, be telt
satisfied the residuary fund fer the college,
over and above the Fort Hill tract Of land,
and after the payment OF specific tegacles
and all expenses, would be $4,000 or up.
wards. He said there was a tract Of land
in Maryland, near the line of the District
OF Columbia, which had been negotiated
for sale at $40, 600, but sale not completed
from some cloud on the title. II Colonel
| Clemson owned this whole tract, which is
likely true, the fund for the college would
be $50, COO. If be owned one half interest
in the land the fund would be $4,000,
and if no interest, there would be $40, ,OOC
for the college over and above legacles and
expenses.