The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-03-10
Legal Arrangement Made for Perpet
uatinq the Bingham School.

| Baskerville Daily Citizen OF March 5, 1904 J
A legal paper of unusual interest al
the office of a register OF deeds is a
decd registered yesterday by Col. Bing
ham, transferring The Bingham School
property to trustees, who, at his de-
cease, will transfer it to a corporation
the stock in which is to be equally di-
yided between his heirs at law. BY
this means the school can go on with
out legal complications, embauassments
or delays. Colonel Bingham retains
absolute control while he lives and is
using this method to administer on this
very valuable property during his own
1 life time.
| His two sons-in-law, Major R. T. Grin
nan and Dir. S. R. Mckee, and his legal
adviser, Frank Carter, Esq, are the trus-
tees named in the deed.
Major Grinnan has been with the
school for more than twenty years and
is vice superintendent. DR.. Mckee was
with it for several years, both before
and after it came to Asheville, in 1891.
| Tie Wachovia Loan and Trust Company
| IS made executor of the will of even
date with this conveyance, and referred
TO therein.
crty, all that it had at first, was bonded
in 1891 for thirty thousand t$3O,OOO) dol
lars Eighteen thousand ($180O0) dollars
Of the bonded debt has been paid. and
the conveyance charges the whole prop
erty, now consisting OF seventy-fve (75)
acres and the improvements, which cost
seventy thousand ($7OOO0) dollars, with
the remaining twelve thousand ($12, OG0)
of the school bonds, thereby greatly en-
| BANGING the security.
In connection with these wise proyis-
ions for the future of this famous in
stitution, it is not aniss to say of its
present ard past that It's area of pat
rcnage was never so wide, its income
never SO large, its equipment never so
good, it's location and climatic attrac-
items never so fine.
BEFORE the Civil War it could not ac-
commodate all who wished to attend ,
but in order to do fuller justice to its
patrons and its pupils, it declined to in
crease its capacity. After the Civil War
it NOR than doubled it's capacity to
accommodate it's steadily increasing pat
ronage OF late it again cannot accommo-
date all who wish to attend; but it again
declines to increase its capacity, refusing
pupils instead.
Col, Bingham's age Sits so lightly on
him that he will not need sucC esSors for
many years to come. hen the immediate
succession must be provided for, it Is
well provided in Major Grinnan and Dr.
Mckee, singly, or in conjunction. Col
Bingham son, Robert w. Bingham, now
of Louisville, Ky, was connected with
the school for several years; but greatly
to the regret of its many friends in Ashc
vile and elsewhere, he is now so welded
TO the legal profession that he will prob
ably not be connected with the school
again otherwise than as an advisor.
But Col. Bingham is carrying on the
work Of his grandfather, and there is
no reason why his two grandsons and
namesakcs shall not carry on the worn
which he has done more than all his
predecessors to make worth continuing;
and it may be p,attcr ot public inter
est that his two grandsons are being
reared with this end in view.
By the legal arrangements just ef-
fected everything which human fore
sight can do has been done to pcrpetuate
the Soutks oldest and most successful
school for boys and to transmit it, under
greatly improved conditions, 10 future
generations of Binghams.