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

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, ~,
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 asSoela-
ton had to deal with the report of a 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
College:-George c. Henry. Amos A. Parr
and Frank G.. Turner, comprising The commit
tee appointed. on the 10Th day of June, 1902,
by the Alumni Association Of Pennsylvania
College, in session, respectfully submit: (),
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 "a summary OF which cor
respondence is embodied in the following re-
port); and, (3), the recommendations OF
your committee based on the facts ascertained:
FIRST. The duties imposed upon the com
mittee:
Pursuant to the following resolutions
adopted by the Alumni Association OF Penn.
sylvania College in September, 1859, and
spread upon the minutes of this ASSOCIATION,
which resolutions are as follows:
Resolved That the Alumni Association
endow professorship in the college amount.
ing to $4,000 to be designed the Alumni
Professorship.
Resolved. That the subscriptions be paid
directly to the treasurer OF the college, TO be
at once invested by him. and the interest ac-
cruing to be added 10 the principle until the
entire sum is secured;'
and which resolutions have not been amended
or rescinded by this Association; your com
mittee was instructed to look into aud deter
mine the question of fact relative 10 the fni-
lowing inquiries:
(A.) What amount OF money, pursuant to
the resolution hereinbetore quoted, was col
lected for the purpose Of establishing an
Alumni Association?
(B.) By whom and in what amounts was
the same paid
co. To whom was the same paid?
(D.) What disposition, if any, has been
made of the funds so paid?
(E.) What the fund, with interest thereon,
amounts to at the present time?
SECOND. The results Of the committee
investigation show:
CAL That the accompanying statement
"Exhibit A,'-Cmade by Il. c. Picking,
ESD, treasurer of Pennsylvania College, the
same being forwarded by Mr. P. II. Glattel-
ter, president of the board) since September
1859, the date of the adoption of the resoIu-
tons above quoted there has been paid TO
the treasurer Of the college, at least the sum
of Sl2, 400 90 on account of the Alumni Pro-
fessorship Fund.
OBJ 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 in
tended for the Alumni Professorship fund
the uncertain items being eliminated from the
report.
IC.) That an inspection of the books of
the late treasurer, by the chairman OF your
committee, showed that the items included III
the report of II. C. Picking, Esq, were des
ignated in each instance by the words
''alumni proiessorship, and that all OF the
items included IN Mr.. Picking's report are
found in the general account OF moneys re-
ceived by the treasurer and were not as far
IL Mr.
Picking are able to ascertain, kept in Il sep
arate account.
3D.. That the money collected, with inter
est thereon, computed in accordance with the
terms of the resolution above quoted, 1owlt:
Resolved, That the subscriptions be paid
directly to the treasurer of the college, to be
at once invested by him and the interest ac-
cruing to be added to the principle until the
entire sum Is secured
now amounts to S47, 64S.00, which amount
this association is entitled TO, unless the funds
subscribed were invested at u rate different
from the legal rate of interest established by
the laws of the State Of PENNSYLVANIA. name Y,
six per cent. your committee is OF the opinion
that the association is entitled TO whatever in
.erest was earned by this fund if invested at Il
greater rate than six per cent; and your
committee is further of the opinion that the
Alumni Association is entitled to 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 action:
(A) 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 of the association.
\ r,,h
scribed. with interest to date, according to
the terms of the resolutions under which it
was subscribed and paid over to the late
treasurer of the college, is sufficient to estab-
lish a proleSSorship, 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 III accordance
with the terms of the resolution.
The entire report, with the exception
of Recommendation B, was adopted, but
Recommendation 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
it out, and but ID voted to retain it out
of 173 present. The ballot was taken
by rising vote, and it was noted that I at
taches of the college Faculty voted to strike
this section out. 1t was also observed
when the viva voce vote was taken. the
presiding officer was about to decide that
the vote was of negative character But
when division was called, but 81 people
out of 173 voted. This is quite signif-
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 to the
present, that they did 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
IN which thew have been mt The linn