The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1903-06-13
Pennsylvania College Alumni De
mand Accounting.

lege men who have ever assembled IN Get-
tysburg met in the banquet hall of the
Eagle Hotel last Tuesday night. Unfor-
tunately the hotel accommodations were
not sufficient to entertain the large number
of graduates who attended the alumni
banquet, owing to the fact that not more
than half of the number sent notice OF
their intention to be present at the ban
quet.
The Hon. Harry NJ Clabaugh, II,
Chief Justice of the Supreme Court OF the
District of Columbia, presided and acted
as toast master. Mr. Clabaugh was in a
particularly happy mood, and entertained
the alumni in charming manner.
The most important matter which came
up in the business meeting Of the associa-
ton had to deal with the report of COM
mittee which had been appointed by the
association last year, to inquire into the
alumni professorship fund. The report
was presented by the chairman OF the
committee, Mr.. Frank G. Turner, OF the
Baltimore Bar. The report in detail Is as
follows:
To the Alumni Association of PENNSYLVANIA
Coilege:-George c. Henry. Amos A. Parr
and Frank g. Turner, comprising the commit
tee appointed, on the lGth day OF june lSoz'
by the Alumni Association OF Pennsylvania
College. in session. respectfully submit: D
an outline of the duties imposed upon your
committee; (2). copies of the correspondence
between the committee and those with whom
the committee, IN the discharge Of ITS duties
has addressed itself Ia summary OF winch cor
respondence is embodied in the following re-
port). and. (3), the recommendations Of
vour committee based on the facts ascertalned:
FIRsr The duties imposed upon the com
mittee:
Pursuant to the following resolutions
adopted by the Alumni Association OF Penn.
sylvania College in September, 1888, and
spread upon the minutes OF this ASSOCIATION,
which resolutions are as follows:
Resolved. That the Alumni Association
endow a protessorship in the college amount
ing TO $4,000 to be designed the Alumni
ProfeSS0rship.
Resolved. Tnat the subscriptions be paid
directly TO the treasurer of the college TO be
at once invested By him, and the interest &C
cruing to be added TO the principle until the
aatire sum is secured;
and which resolutions have not been amended
or rescinded by this Association; your com
mittee was instructed 10 look into aud deter
mine the question of fact relative TO the fol-
lowing inquiries:
(A.) What amount Of money, pursuant TO
the resolution hereinbefore quoted. was col
lected for the purpose OF establishing an
Alumni Association
OBJ By whom and in what amounts was
the same paid
co. To whom was the same paid?
Cd. What disposition, if any, has been
made Of the funds SO paid
(E. What the fund, with interest thereon,
amounts to al the present timey
SECOND. The results Of the committee :
investigation show:
A That the accompanying statement
EXHIBIT A"-(made by II. c. Picking.
Esq, treasurer of Pennsylvania College, the
same being forwarded by Ar. ?. Ii. Glaiiei-
ter. president OF the board) since September
1859, the date OF the adoption Of The resolu.
tions above quoted, there has been paid 20
the treasurer Of the college, al least the sum
of SI2, 400 90 on account Of the Alumni Pro-
fessorship Fund
(B.) That in making this report the treas
urer OF the college included only such items
as the books Of the late treasurer showed.
beyond a doubt. were subscribed and lu'
tended for the Alumni ProteSsorship fund
the uncertain items being eliminated from the
report.
(C) That au inspection Of the books Of
the late treasurer, by the chairman Of your
committee, showed that the items nelRded 10
the report OF II. G. Picking, Esq, we're des
ignAted in each instance by the words
"alumni professorship, aud that ali OF the
items included IN Mr.. Picking's report are
found IN the general account OF moneys re
Il 4sr
as the chairman OF your committee or Mr..
Picking are able 10 ascertain, kept 10 sep.
araie account
I'd. That the money collected, with inter
est thereon. computed N accordance with the
terms of the resolution above quoted, towit:
Resolved, That the subscriptions BE- naid
directly to the treasurer Of the college, % be
al once invested BY him and the interest sc
cruiug to be added to the principle anti the
entire sum IS secured
now amounts 10 $47, 64s.00, which amount
this association Is entitled TO, unless the tauds
subscribed were invested at a rate different
from the legal nate Of interest established ~
the laws Of the State III Pennsylvania, namely.
six per cent: your committee j. Of the opinion
that the association Is eatiiled 10 whatever ia
teresi was earned by this fund II Invested al a
greater Fate than six per cent; and your
committee Is further of the opinion THAI the
Alumni Association is entitled 10 receive
compound interest at the rAte OF six per cent.
per annum IN accordance with the terms OF
the resolution.
THIRD. Your committee respectfully rec.
ommend the following course Of sctoH;
(Al That the full text Of this report, to
gether with the correspondence and the state
ments OF the officers of Pennsylvania College
be spread upon the minutes oil the association
OBJ That inasmach as the amount sub
seribed, with interest 20 date, according 10
the terms OF the resolutions under which Il
was subscribed and paid over 20 the laie
treasurer Of the college, Is sufficient 10 esiaG-
lish s. profeSsorship, that this committee
should be continued. or another committee
be appointed, with instructions to secure
from the Board of Trustees the full amount
paid in with compound interest in accordance
with the terms Of the resolution.
The entire report, with the exception
of Recommendation B, was adopted. but
Recommendation b was amended to read
in such manner that the report would
first be referred to the Board Of Trustees
for an explanation, and with the request
that the Board Of Trustees report TO the
next meeting Of the Alumni Association
In the striking out Of Section B it
was noticed that but "a voted to strike
il out. and but Is voted to retain il out
of 173 present. The ballot was taken
bv rising vote, and it was noted that I at
taches of the college Faculty voted to strike
this section cut. 1t was also observed
when the viva voee vote was taken. the
presiding officer was about TO decide that
the vote was of a negative character But
when a division was called, bat 81 people
out of I73 voted. This Is quite signi6-
cant, owing to the fact that the final votes
as registered did not represent the senti
ments of the Association. Many persons
present did not care to be prominently
identified in calling the Board of Trustees
to rigid account.
The report was such surprise 60 the
members present, that they di4 not seem
to realize the situation until after the meet
ing had adjourned, and then expressions
of utter amazement were frequent.
1t is intimated that the Association will
ask the Board for other information regard
ing various endowment funds, and the use
to which they have been put. The Alum
nj Association Professorship Fund, which.
with interest, amounts to about $50, 900,
is in the hands of the Board Of Trustees