, 1892-09-10
THE UNIVERSITY.
The Agreement Between ]. R
Chaplin and the Citizens.

How He is Bound for the Faithful
Performance of HIS Obligations
"A Plain Business Proposition
Submitted to the Public.
]. R. Chaplin has drawn up a specific
agreement for the use of those who desire
toad in the creation OF a fund for the
building Of the Olympia University at
Buffers Cove. The subscriptions are con-
ditioned on the proYiso that the sum of
100000 is subscribed and the stipulations
are:
First-That each and all of said sums
subscribed, except the sum subscribed by
]. R. Chaplain of said Olympia, to be pay
able on demand to A. A.sPhillips and C. J.
Lord, of said Olympia, or to either of them
as trustees, and that said j. R. Chaplin
shall pay his subscription by erecting or
causing to be erected on OF before March
10, 1894, upon the site of said university as
herein determined, buildings appropriate
to the use Of said university of the value
of $4,000.
Second-That $1,000 and no more of the
funds subscribed by others than said J. R.
Chaplin be applied to the purchase by said
trustees OF certain tract of land contain
ing 100 acres more or less, now owned by
William Pix, lying and being within the
donation claim of David K. Burntrager in
the county OF Thurston and state of Wash
ingtOn.
Third-That the remainder of said funds
subscribed by others than by said J. R..
Chaplin be invested by said trustees in
well secuted interest bearing commercial
paper, and that the purchase of said tract
OF land now owned by William Pix, and
the collection of no less than $1,000 addi-
tional to the purchase money Of said land
on subscriptions by others than said ]. R.
Chapnn be condition precedent to the
payment by said J. R. Chaplin of his sub
scnption as aforesaid or of any part there
of.
Fourth-That when said ]. R. Cbaplin
shall have caused buildings of the value of
$3O,OOO and appropriate to the use of said
university to be erected on said university
site; said trustees shall convey said 100
acre tract now owned by William Pix to
SAID }. K. Chaplin as trustee for the use of
said university and shall assign and trans
Ter SAD remainder Of said funds subscribed
by others thanlsald j. r. Chaplin, and the
securities In which said funds shall have
been invested to said J R. Chaplin as trus.
tee for the use of said university; but that
IN case of failure of said ]. R. Chaplin to
erect or cause to be erected on or before
4ualSu 4u5 1o54 upon the site OF said uni
Verslty, as herein determined, buildings
appropriate to the use of said university of
the value of $4,000, said trustees shall sell
sal0 William Pix tract and shall convert
the securities in which said fund shall have
been invested and the profits and interest
thereot into money, and shall distribute
the same among said subscribers other
than said J. R. Chaplin in proportion to
the sums by them respectively subscribed
and paid.
Fifth-That said ]. R. Chaplin shall
build, maintain and operate, or cause to be
built, maintained or operated, a university
OF high grade, upon the David e. Burntra-
ger donation claim on the west side of
Budd's Inlet about four miles north of the
business center of said City of Olympia,
said university to be opened and in opera
ton as such on or before the 10th day of
September, A. d. 1894, with faculty and
equipment adequate to furnish the instruc-
ton and training appropriate to a univer-
slty OF high grade having two hundred and
htty students, and that said ]. r. Chaplin
shall cause that on said day shall be upon
SAID university site buildings of the value
OF 100000 appropriate to the use of said
university property, built, completed and
equipped.