The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1909-10-07
ENDOWMENT RAISED
Special Meeting of Board of Trade
Held-Several Local Gentlemen
Pledge Themselves for Amount
Lacking-Later Gift of $500 An

Inc montpelier seminary endOW-
ment fund was completed Friday
night about an hour before the limit
set by the stipulation of DR.. Pear
sons, who gave $4,000 to the Sem
mary on condition that 100000 be
raised before the first of October
| The money was raised by the efforts
of public spirited citizens who prom
ised the necessary amount at a
special meeting of the Board of
Trade held last evening in the Lang
don block
In the absence of the president of
the Board, Hon. Joseph A. DeBoer,
and of the vice president, James M d.
Boutwell,, Secretary Fred E. Gleason
called the meeting to order Mr.. Glea-
son explained that the purpose of the
meeting was to see what could be
| done toward saving the endowment
fund which had already been pledged
and which would go by default if
the remainder was not raised by 70
o'clock. Mr.. Gleason further went on
to point out Montpelier's need of the
Seminary and of the good work
which it has been doing and is doing.
He said that the BoBard of Trade as
a body was helpless to meet the de-
mand for money, as it has no legal
right to give, but that the Board was
willing to assist in any way within
it's powers. Then he introduced DR..
Bishop, who explained the gift of
DR.. Pearsons and what it meant to
the Seminary. He told of the $1OO, 900
which the Doctor required should
be raised in addition to paying off
debt of $4,000. This made the en-
tire sum that the Seminary had to
raise, $4,000.
DR.. Bishop said in part: "The Sem
mary stands tonight just $3,7OO short
of the amount needed to claim the
$4,000 of DR.. Pearsons. All during
the day money has been coming by
telegram and letter, from people who
realized the necessity of this school
in this State of ours. Montpelier has
subscribed in all $23,5395O and this
includes the gifts of persons who are
not now residents of the city, but
who formerly were. The neighbour
ing city of Barre has subscribed S16,-
O15 since the fund has been started,
while $4,000 was given by a resi-
dent of Barre few days before the
canvass was begun. The greater part
of this money does not, as is
generally supposed, come from form
er students of the Seminary, but
from elderly people generally con-
nected with the church. The largest
subscription which l have received
in Montpelier was for $1,000
This matter of raising this fund
now before the Board of Trade holds
the attention of the whole of YER
mont tonight. This afternoon l had a
talk with Allen NJ Fletcher, one of
the ablest men of the State. He said
That he was very much interested in
the work of the school and that al
though he had given $1,000, if the en-
tire amount could not be raised. he
was willing to- render whatever help
he could. Ex-Gov. Fletcher d. Proc
tor is waiting tonight to hear of
what success the fund will have at
the hands of the people of Montpel-
Ter. Gov. Proctor has already given
heavily to the Seminary fund, having
subscribed $4,000 and stands ready to
give more if need be-"
Fred A. Rowland then rose and adj
dressing the assembled board, set a
proposition before them for their
consideration. He suggested that 25
or as many men as would, sign
their names to paper, promising to
look after the fund after all the con-
tributions had been received and
contributing themselves all that
would be necessary to make up the
deficiency. Each man was to be IL
able for proportionate amount. II
was next proposed that the Seminary
dispose of some land which it owns
in the West and of some that it owns
IN this city. DR.. Bishop was asked
about this and he explained that
this had been thought of at the June
meeting of the trustees and that the
son-in-law of the man who gave the
western land to the Seminary was
written to and asked what he thought
of the scheme of selling the land to
help meet the endowment fund of the
school.
He was favorable at the time, but
when a daughter of the donor was in
terviewed, the plan met with opposi
ton, as she said that the land was as
much an endowment of the Seminary
as the $4,000 of Dr. Pearsons. This
family has given generously toward
the Seminary in the past and If this
land should not be sold against their
wishes, the school would lose more
than 1t gained The next proposition
was that the land owned by the Sem
mary near the Cummings place on
Seminary hill be sold. This land is
worth in the neighborhood of $4,000.
After some discussion the first plan
was accepted and Judge Erwin e.