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Danville, Ky., June 13, 1882

Board of Trustees met pursuant to adjournment and was opened with prayer by Rev. J. P. Hendrick. In the absence of the permanent Chairman, Dr. Jones was called to the chair. The members present were: Rev. John S. Hays, D.D., George W. Welsh, James Barbour, William Ernst, Thomas Barbee, Rev. John Jones, D.D., Rev. Thomas H. Cleland, D.D., William H. Kinnaird, John W. Scott, M.D., Rev. John W. Pugh, Rev. Stephen Yerkes, D.D., Rev. James P. Hendrick, Hon. Tyler T. Alexander

The minutes of the last regular meeting in Danville, and also the minutes of the meeting in Louisville July 5, 1881, and in Danville August 4, 1881, were read and approved.

On motion the report of Dr. John L. McKee was presented, received, and referred to a committee consisting of Dr. Cleland and Messrs. Alexander and Welsh. It is as follows:

Danville, Ky., June 13, 1882

To the Board of Trustees of the Centre College of Kentucky

I beg leave to make this annual report. Since the last meeting of the Board I have done all I could to collect what is due the College from subscribers to the endowment fund. In most cases the application has been made in person, in other cases by mail. The Financial Report will show the result. Messrs. John A. Miller, John T. Gathright, and A. T. Denny desire to be released from their subscriptions altogether. Their applications are herewith submitted. Mr. George Denny, Sr., desires to make a commotion of his note. His application is also herewith submitted. Since the last meeting of the Board, I have preached as follows:

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Supplied 2nd Church, Danville, from June 19 to September 4, preaching Paris, Ky. Junction City Camp Ground Burksville, Ky. Madison, Ind. Paint Lick Lawrenceburg, Ky. Supplied lst Church, Lebanon, from March 6 to date   Total

31 sermons 2 1 27 35 5 2 61   164

In my engagement to supply the 1st Church, Lebanon, Ky., I have reserved one Sabbath per month, or its equivalent, for evangelistic work or for soliciting for the College. This arrangement gives me much better opportunity for attending to the interests of the College, than the old plan afforded.

Free Will Offerings

2nd Presbyterian Church, Danville Burksville, Ky. Madison, Ind. Paint Lick Lebanon, Ky. Total Ten per cent on collections   By travelling and other incidental expenses

$240.00 $78.00 $115.00 $20.00 $750.00 $1203.00 $123.09 $1326.09 $143.25 $1182.84

Respectfully submitted, (Signed) John L. McKee

The Faculty report and accompanying papers were read and referred to a committee consisting of Messrs. Hendrick and Ernst. These reports are as follows:

Report of the Faculty of Centre College for the year ending June 15, 1882

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The Faculty of the Centre College of Kentucky beg leave to submit to the Board of Trustees, and to the Synod of Kentucky, the following report for the academic year ending June 15, 1882.

1. Faculty

Since our last report two members of the Faculty have resigned, viz. Rev. Robert S. Hitchcock and Prof. Salvador DeSoto. Their places have been filled by Profs. Samuel A. Cheek and John W. Redd, who were appointed by the Board of Trustees to fill these vacancies. These gentlemen entered upon the discharge of their duties at the opening of the College year on the first Monday in September. With grateful acknowledgements we are glad to be able to say that all the members of the Faculty have without serious interruption, been in their places and at their work during the entire year.

2. Reports

The reports and papers herewith submitted, viz. the Financial Report, reports on the Museum, the Library & Chemical Funds, copy of the catalogue, etc., will furnish the Board complete information on these topics.

3. Degrees

The Faculty recommend that the degree of A.B. be conferred on the following fourteen young gentlemen of the Senior Class: George J. Allen, John L. Bosley, Albert G. C. Collins, David T. Edwards, Andrew F. Evans, Hartwell P. Grider, Alexander M. Irvin, Benjamin H. Magruder, Dwight N. Marble, William L. McEwan, William T. Overstreet, Thomas W. Parry, John M. Rankin, Bethel B. Veech.

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4. College Home

There has been no change in the management of the College Home during the year, which has given satisfaction both to the inmates and to the Faculty, who have the general control of it. It has afforded accommodations to about 20 students.

>5. Students

An inspection of the catalogue will show a considerable decrease of students. In the College we think this is due, at least partially, to the wide-spread impression that the session would open with an incomplete Faculty. It is known to the Board that the vacancies created by the resignation of two of our professors were not filled till a late date. We have heard that some students who had intended to come to Danville were diverted to other schools by this fact.

6. Preparatory Department

Two years ago the Preparatory Department was committed to the management of the present principal, under the general supervision of the Faculty. He agreed to accept as his compensation the tuition fees derived from his department. Under the liberal offers of the College, a good many students had been receiving free tuition in the Preparatory Department as well as in the College proper. As the principal received no other remuneration than his fees, he felt constrained to be a little more rigid in requiring payment of tuition. In this way some students were lost; though the entire receipts of the school have been greater this year than they were the last.

7. Order & Discipline

As a general rule good order has been maintained, and good work has been done by students.

8. Religious Instruction

We have worked upon the same plan as last year. Morning lectures by Dr. McKee when at home, and during the remainder of the session a lesson in Bible for one hour is given by the professors to each

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class one morning in the week. Some religious interest was manifested during the term, but only one student actually connected himself with the church.

(Signed) Alfred B. Nelson, Secretary of Faculty

To the Board of Trustees of the Centre College of Kentucky

Gentlemen:

The following report shows the condition of the Library at the close of the year ending June 1, 1882.

Books received and added From Bureau of Education Report for 1879 Dept. of the Interior Misc. Public Documents U. S. Naval Observatory Astronomical Observations Brig. Gen. Hazen Report of Chief Signal Officer Smithsonian Institution Report for 1880 Hon. J. B. Beck Reports of Departments Memorial Address Paris Exposition, 1878 Hon. P. B. Thompson, Jr. Report of Chief Signal Officer, 1879 W. M. Paxton Poem by himself Mrs. E. O. B. Beatty The Land & the Book Prof. De Soto Miscellaneous Volumes E. H. Anthony Silver Printing National Wool Growers Assoc. Reviews of Free Trade Agreements Forward

No. vols. 1 71 3 1 1 10 14 5 1 1 1 27 1 1 138

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Brought forward Dr. J. W. Scott Kitchen's History of France Unknown Donor Poems & Life of T. H. Genni Missionary Society, Princeton, N.J. Missionary Review (Unbound) Vol. 4 By Purchase Misc. Books, History, Biog. Essays, etc. Old books recovered during the year and not before catalogued or reported   Total added   Of these by gift Of these by purchase   Number at close of last year Number in Library June 1, 1882   In addition to the above also have been received pamphlets amounting to

138 3 1 1 80 6   229   149 80   4,481 4,710   65

During the year a card catalogue of the subjects treated of in the books in the Library has been commenced and the periodical literature about completed. The remainder of the work will be finished as rapidly as the time at the disposal of the Librarian will permit.

Respectfully submitted, John C. Fales, Librarian

The report of Prof. Fales on the condition of the Scientific Fund showed the total expenditure for the year to be	$174.25
Receipts	$133.00
Leaving a balance due Prof. Fales of	$41.25

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The report of Prof. Fales on the Museum showed the number of entries at last report	2,588
Added during the year	129
Total in Museum	2,717

The President, in accordance with the requirement of the Board reported that the members of the Faculty, except in some cases where sufficient reasons for non-attendance existed, were prompt & regular in their attendance at the Chapel exercises in the morning.

The Financial report was read & accepted, but further consideration of it was deferred until the report of the auditing committee to which it had been referred could be presented.

A memorial from a Committee of the American Philological Association and the American Association for the Advancement of Science in regard to conferring honorary degrees was submitted to the Board. The Secretary was directed to reply that the suggestions of the memorial were in accordance with the usual practice of Centre College.

On motion the Board then took up the subject of the election of permanent professors. A ballot was taken and Profs. Samuel R. Cheek and John W. Redd were unanimously elected to the chairs to which they had been respectively chosen as temporary professors by the Board on the 4th day of August 1881.

Their salaries were raised from $1,000 to $1,200 a year for the next year, beginning from the 1st day of September 1882.

It was ordered by the Board that the expenses of Ormond Beatty in attending to the interests of this

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Institution, in accordance with the directions of the Synod of Kentucky in relation to the establishment of a State College at Lexington, be paid out of the ordinary income of the College.

Dr. Scott reported in regard to granting a right of way for a railroad through the Overton Farm, to which the attention of the Board was called last year, that no road would at the present time be made in that direction, and that the subject might be dismissed. The report was accepted and adopted.

It was moved and adopted that the first order of business for tomorrow morning should be the conferring of degrees; and that the second order should be to hear a statement from the President on the question of the practicability of uniting the two Presbyterian colleges in Kentucky, viz. Centre College and Central University, and thus securing the undivided support & patronage of the Presbyterians of this State for one school.

The Board then adjourned to meet at 8 o'clock tomorrow morning and was closed with prayer by the Chairman.

8 a.m., Wednesday, June 14, 1882

The Board was reassembled and the minutes of yesterday's proceedings was read and approved.

Mr. Robert Rodes sent a letter giving his reasons for absence from meetings of the Board and resigning his position as a member of the Board. The Secretary was directed to forward the

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letter and to call the attention of the Synod to it and the action of the Board recommending that said resignation be accepted and the vacancy filled.

Letters were received from Dr. Humphrey, Mr. Christie, and Mr. Warren giving reasons for their absence from this meeting.

On motion the following resolution was adopted:

Whereas it is reported to this Board J. T. Friley, tenant on the Overton Farm, is greatly in arrears in his rent; therefore be it Resolved, That Dr. John W. Scott, having oversight of the Overton Farm near Lexington, be instructed to terminate the lease of J. P. Friley to said farm on March 1, 1883, provided the entire rent of the current year is not promptly paid over before January 1, 1883.

The Committee, appointed at the meeting of the Board yesterday, to which the Financial Report was submitted, made its report, which was received and after some consideration, was recommitted.

The question of conferring degrees on Messrs. Irwin and Gelon Hamm was referred to the Faculty for their consideration and recommendation.

The Committee to which was referred the report of the Faculty and accompanying papers submitted a report which was received and adopted. It is as follows:

The Committee to which was referred the reports of the Faculty, on the Library, the Museum, and the Scientific Fund, beg to report

I. That they have examined these several papers, and compared the vouchers accompanying

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the last with its statements, and find all correct, and recommend that they be severally approved.

II. And that, in accordance with the recommendation of the Faculty, the degree of A.B. be conferred upon the members of the present Senior Class named in this report.

III. We notice with pleasure the gradual increase of the Library of the College both by gift and purchase, and the increased facilities in the way of apparatus for illustration and experiment in the natural sciences.

Respectfully submitted, (Signed) J. P. Hendrick, William Ernst

The degree of A.M. in course was conferred upon William M. McClure and Breckinridge Jones of the class of 1875, and upon William R. Worrall of the Class of 1879.

The degree of D.D. was conferred upon Rev. G. H. Rout of Versailles; Rev. Heman H. Allen, of Princeton; Rev. L. G. Barbour of Richmond; and Rev. William C. Young of Louisville.

The second order of the day was then taken up and the President made a statement in regard to the practicability of uniting the entire Presbyterian influence of Kentucky upon a single institution in Kentucky. After some discussion of the subject in the Board it was Resolved, That a Committee of conference be now appointed by this Board, consisting of Dr. Edward P. Humphrey, President Ormond Beatty, Messrs. John B. Temple, William Ernst, and James Barbour to confer with a similar committee (should such a committee be appointed) from Central University with reference to the joint action and control of this College and said University and the general interests of Presbyterian Education in Kentucky.

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The committee to whom was referred the question of Dr. McKee's salary, submitted their report which was received by the Board, and is as follows:

The committee appointed at the June 1881 meeting of the Board under the following resolution: Resolved, That a committee be appointed to examine into the state of the accounts between Dr. McKee and the College and to ascertain whether anything is due him or not, and to make a final settlement of the matter, reduced to writing and duly signed by Dr. McKee and by the Chairman of the Board of Trustees, and that this Committee have full power to make a final settlement respectfully report:

It appears that under the arrangement made by the Board with Dr. McKee, in consideration of services in addition to his duties as Vice President, he was allowed to supplement his salary of $1,000 per year as Vice President by commissions on collections of subscriptions to the permanent funds of the College, the voluntary offerings of the people in aid of his evangelistic work, and from the income of Vice President's Fund in excess of $1,000, until his compensation should reach $3,500 per year. During the period from June 1878 to June 1881 Dr. McKee failed to receive from the above named sources the full sum of $3,500 a year, so that in June, 1881, the deficiency amounted to $3,130.78. Dr. McKee does not claim that this is a debt due to him from the College, nor does he ask the College to make it up to him. But he feels aggrieved by the provisions of a resolution passed by the Board at its meeting in June 1881, which place him upon an income to be derived from the sources named in said resolution, so that if the amount he may realize should not reach the sum of $3,500, he is stopped from making up the deficiency from future collections. He desires the Board so to modify that resolution as to provide that in case he should fail to receive in any one year from the sources named the full sum of $3,500, he shall have

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the privilege of making up the deficiency hereafter.

This your committee did not feel authorized to promise and so failed to dispose of the matter in the manner contemplated by the resolution under which they were appointed.

They therefore submit Dr. McKee's grievance and request to the Board for its action.

(Signed) William Ernst, William H. Kinnaird

After discussion of the subject the following resolution was adopted:

Resolved, That the limitation to one year in the resolution in relation to Dr. McKee's work and compensation passed by the Board at its meeting in June 1880, and the same limitation to one year contained in a resolution on the same subject passed by the Board at its meeting in June 1881, be repealed and that the arrangement between Dr. McKee and the Board as set forth in the action of the Board at its meeting in June 1880, be continued until otherwise ordered by the Board.

Resolved further, That the action of June 1880, as modified by the foregoing resolution, is to be considered as concluding all matters at issue between Dr. McKee and the Board, and that for any deficiency in the amount he has heretofore received below $3,500 a year and any deficiency that may hereafter arise below the $3,500 a year, Dr. McKee is to depend entirely upon the three sources named in the resolutions of 1880 & 1881, and is not to regard it as in any sense, moral or legal, an obligation of the College; but no interest is to be calculated on any such deficiency.

Resolved further, That before these resolutions shall go into effect, the approval and acceptance thereof by Dr. John L. McKee shall be given in writing; which approval and acceptance shall be entered upon the minutes of the Board.

I accept and approve the foregoing res-

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olutions, adopted this 14th day of June, 1882.

(Signed) John L. McKee

The question of preparing a fire-proof vault in the College was referred to the local financial committee, with authority to act on the matter.

The Committee to which was referred Dr. McKee's report on his Evangelistic and Agency work, submitted their report which was accepted and adopted by the Board, and is as follows:

The Committee on the Report of Dr. John L. McKee touching his evangelistic and agency work for the year ending to date, June 13, 1882, beg leave to make the following report:

1. Your Committee would recommend to the Board their approval of Dr. McKee's engagement to supply the 1st Presbyterian Church, Lebanon, reserving one Sabbath per month, or its equivalent, for evangelistic work or for soliciting for the College, as offering better opportunity for attending to the interests of the College and at the same time conserving the welfare, if not the continued existence, of one of our most important churches.

2. That this Board release J. T. Gathright, Louisville, from his obligation to pay his indebtedness to this Board owing to his recent misfortune, resulting in his financial failure, with the understanding that if he is ever able, the College shall lose nothing.

3. Your Committee also finding that John A. Miller was in feeble health and unable to pay the amount subscribed by him ($250), recommend that his notes be returned to him.

4. That the proposition of G. Denny to change the form of his obligation to the Board from personal notes

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to a life policy and a bond of $1,000 to be paid after his decease, be laid over for future consideration.

5. That this Board does not, under all the circumstances, feel warranted to release A. F. Denny, Lancaster, as requested in his behalf by Gen. W. J. Landram from his obligation to the Board.

Your Committee would recommend that the following form for securing legacy bonds for the College be printed for the use of your soliciting agent:

I [blank space] of [blank space] State of [blank space] hereby bind my executors, administrators, heirs, devisees, and personal representatives, all or any of them, to pay to the Trustees of The Centre College of Kentucky, at Danville, Kentucky, [blank space] months after the death of both myself and wife--that is, after the death of the survivor, the sum of [blank space] dollars with interest thereon from the date of the death of whichever one of us shall survive the other; the principal to be held as a permanent fund for the endowment of said College. The interest alone to be used in aid of that object.

Attest:

6. Commending the faithful & efficient labors of evangelistic & agency work of Dr. McKee for the past year, he is hereby earnestly requested by the Board to do all he possibly can to increase the number of students at the approaching session of College.

(Signed) Thomas W. Cleland, Tyler T. Alexander, George W. Welsh

The report of the Committee on the Financial Report was submitted and referred to Hon. Tyler T.

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Alexander, John B. Temple & Ormond Beatty to correct and record. Their report is as follows:

The undersigned, standing committee on the Financial Report of Centre College, submit the following:

The Committee had before it the Financial Report up to April 1, 1882, the same annual report by the Secretary of the Board at the annual meeting in June 1881, the book of the several accounts of the several funds embraced in the report, kept with the First National Bank of Danville; also sundry vouchers, and checks drawn by the Secretary and paid by the bank; also a settlement of Edward W. C. Humphrey, Esq., appointed custodian of the funds of said College.

The Committee report that after the examination of all these papers and careful addition of the figures, they found the financial statement correct & showing the following facts:

General Fund

Principle

There was collected of the principal or endowment fund	$6,521.95
A balance of $524.00 & $200 refunded by Ormond Beatty, borrowed for expense of a suit in Illinois (Scott Fund) is included

Income

There was collected for income on stock & bond investments	$5,918.22
Interest on individual notes	$1,183.80
Rents, etc.	$360.55
Tuitions	$985.00
	$8,447.37

Vice President's Fund

Principal, note of A. J. Hamed,	$14.36
Balance of overdraft 1881 to balance	$69.17	$83.53
Income, dividends & interest on stock & individual notes		$1,036.50

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Boyle Prize Fund

Principal

Proceeds sale of $600 Logan County bonds	$509.25
In hands of Levi L. Warren	$41.50	$550.75

Income

From stocks, bonds, etc.	$102.00
Overdraft	$41.90	$140.90

Scott Memorial Fund

Principal, unchanged
Income	$273.52

Theological Fund (held in trust)

Principal, unchanged
Income, coupons collected	$175.00

Expenditures - General Fund

Principal

John L. Wheat's note at 12 months from February 1882, secured by 62 shared Union Cement & Line Co.	$6000,00
Balance in Bank	$521.95
Income		$6,521.97
Tuition paid Walton	$19.95
Salaries	$6,805.34
Printing & advertising	$166.18
Improvements & repairs	$148.73
Insurance & taxes	$212.35
Paid overdraft	$40.87
Miscellaneous expenses, interest	$307.90
Balance in Bank	$746.05	$8,447.37

Expenditures - Vice President's Fund

Principal

Overdraft as per report of 1881

$83.53

Income

Vice President's Salary	$810.00
Balance in Bank	$226.50	$1,036.50

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Expenditures - Boyle Prize Fund

Principal

Purchase of 4 shares Louisville Bridge stock	$469.00
Balance in hand of Levi L. Warren	$81.75	$550.75

Income

Balance of overdraft 1881	$78.90
Paid Blake for watch	$65.00	$143.90

Expenditures - Scott Memorial Fund

Principal, nothing
Income, Financial Report	$210.74
Balance in hands of Trustee	$62.78	$273.52

Expenditures - Theological Fund

Income, Paid Prof. Archibald for use of Theological Seminary

$175.00

Recapitulation of Receipts

General Fund:	Principal	$6,521.97
	Income	$8,447.37	$14,969.34
Vice President's Fund:	Principal	$14.35
	Income	$1,036.50	$1,050.86
Boyle Prize Fund:	Principal	$509.25
	Income	$102.00
	Balance in hands of Levi L. Warren	$41.50	$652.75
Scott Memorial Fund:	Income		$273.52
Theological Fund:			$175.00
Total Income			$17,121.74

Recapitulation of Expenditures

General Fund:	Principal	$6,000.00
	Income	$7,701.32	$13,701.32
Vice President's Fund:	Principal	$83.53
	Income	$810.00	$893.53
Boyle Prize Fund:	Principal	$469.00
	Income	$143.90	$612.90
Scott Memorial Fund:			$210.74
Theological Fund:			$175.00
Total Expenditures			$15,593.49

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Cash in Bank - Financial Report		$1,383.45
Cash in hands of Levi L. Warren (Boyle Prize)		$81.75
Cash in hands of Trustee Scott Memorial Fund		$62.78	$1,527.98
To balance total receipts			$17,121.47

College Assets

College Building with contents, estimated	$65,000.00
College Home (Old College)	$5,000.00
President's House	$8,000.00	$78,000.00

Endowment or General Fund

Overton Farm	$5,000.00
Barbee House, $2,000; Fry Property, $4,000	$6,000.00
Hughes House, $1,000; Lot bdt of Judge Fox, $600	$1,600.00
400 acres land in Texas (unproductive)	$500.00	$13,100.00
Corporation bonds, Financial Report		$101,874.20
Individual notes, one half of $5,000 Mrs. J. G. Scott	$2,500.00
Note of J. L. Wheat	$6,000.00
Uncollected subscription notes after deducting $5,510 as per list	$13,850.26	$22,350.26
Markey Fund in hands of Dr. John W. Scott		$2,673.00
Balance of cash on hand		$521.97
Total General or Endowment Fund exclusive of buildings, etc., for convenience termed Foundation		$140,519.43

Vice President's Fund

Stocks, bonds, etc.	$20,000
Individual notes of which $10,000 are payable at death of donors	$11,588	$31,588.00
		$172,107.43

Boyle Prize Fund

Stocks, bonds, etc.	$1,400.00
Cash in hands of Levi L. Warren	$81.75	$1,481.75
An overdraft of $41.90 due to General Fund not deducted

Scott Memorial Fund

One half of $5,000 notes of Mrs. J. G. Scott		$2,500.00
		$176,089.18
Add for College Building, Home, President's Home		$78,000.00
Gives a Total of		$254.089.18*

*Some notes, considered worthless, embraced in the report of the secretary are omitted in this statement.

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Your Committee recommend that a list of all the subscription notes belonging to the General Fund be made out in such form as that all partial or total payments of either principal or interest could be entered. From such a list all unavailable notes should be left out. The reading of such a list at a meeting of the Board is calculated to elicit valuable information.

It seems to your Committee a reproach that the meager salaries of the professors cannot be promptly paid when due without some discount. As a remedy for this, and to increase the usefulness of the College, it is suggested that some steps be taken to keep before the church the fact, little appreciated, that this institution of learning belongs to it, and under the blessing of Providence has done much for the church and for religion, and should be prominently held up to the attention of the generous as worthy of their beneficence.

(Signed) John B. Temple, Tyler T. Alexander

The permanent Committees were reappointed.

The Committee of Investment, Louisville, Ky., consists of Messrs. Levi L. Warren, John B. Temple, Edward P. Humphrey, and Edward W. C. Humphrey.
The Financial Committee, Danville, Ky., consists of Messrs. Ormond Beatty, George W. Welsh, and Guy E. Wiseman.
The Committee on repairs consists of Messrs. John C. Fales, George W. Welsh, and Guy E. Wiseman.

The minutes of the Board were read and approved; and the Board then adjourned to meet in the 2nd Presbyterian Church in Danville at 4 o'clock p.m. on the Tuesday (June 19) before the third Thursday in June 1883.

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The meeting was closed with prayer.

Ormond Beatty, Secretary

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