December 29, 1858
The Financial Committee of the Board of Trustees of Centre College met this day at the office of Bell and Cowan. Present, Dr. Lewis W. Green, John A. Jacobs, Ormond Beatty, Dr. Edward P. Humphrey, and John T. Boyle.
Dr. Green was appointed chairman. On motion, Rev. William J. McKnight was appointed Financial Agent and Treasurer of Centre College, subject to the action of the Board of Trustees, with a salary of $1,000 to be paid quarterly, equally by the Board of Trustees of Centre College and the Board of Trustees of the Danville Theological Seminary, each paying $500 per annum.
On motion, it was ordered that the expenses of the Financial Agent will be paid when travelling on the business of the College.
On motion, it was ordered that the Financial Agent procure an office and furniture for it, one half of which will be paid for by the College, provided the other half is paid by the Danville Theological Seminary.
Ordered that John T. Boyle be and he is hereby appointed agent and attorney to attend to the Covington and Lexington Rail Road bonds, sign petition to the trustee of Covington and Lexington Rail Road to take possession of the road, and take such steps as he may deem best for the interest of the College in securing said bonds, in joining in the suit by bondholders.
Ordered that the president of the Financial Committee give a certificate to William J. McKnight of his appointment as Financial Agent of the Trustees of Centre College, and the Secretary of the Board of Trustees is authorized and directed to deliver to William J. McKnight, Financial Agent and Treasurer, all the books, notes, bonds, and other papers delivered by B. T. Melton to the Secretary.
Ordered that William J. McKnight, Financial Agent, be directed to purchase three Louisville City bonds at rate not to exceed $75 in the hundred.
On motion, it was ordered that the Financial Agent procure a book and keep a record of the proceedings and acts of this committee.
John T. Boyle Secretary pro tem (Copied by W. J. McKnight)
March 17, 1859
The Financial Committee of the Board of Trustees of Centre College met at the office of the Financial Agent. Present, Dr. Lewis W. Green, Dr. Edward P. Humphrey, Ormond Beatty, and John A. Jacobs. Dr. Humphrey was called to the chair.
Ordered:
- That the Financial Agent be and he is hereby directed to purchase two Louisville City bonds at rates not to exceed 74 cents on the dollar.
- That Prof. James Matthews [professor of English literature and Latin language] be allowed to draw, at this time, his June quarter of salary, at the same rate of interest which it is now bearing as a deposit at the Central Bank.
- Mrs. Rachel B. Craig, who owes a scholarship note to Centre College of $500, on which there is &50 interest due, proposes to the Committee to pay $250 in hand and $250 on the terms of the subscription which is now making for the benefit of Centre College, viz., one third on the first of September 1860, one third on the first of September 1861, and the remaining third on the first of September 1862, also assigning to the Board of Trustees a claim on Mr. Ballinger of Stanford for the sum of about $30, the claim being for the use of her scholarship; Mr. Ballinger having acknowledged to Financial Agent that he would pay the claim, and Mrs. Craig further relinquishes to the College all rights to her scholarship from the date of trade. The Committee refer this money to the Board of Trustees to be divided between the endowment and building funds according to their pleasure. Ordered that the Financial Agent settle with Mrs. Craig on the terms above mentioned.
- W. C. Lyle offers the Board fifteen shares of the Maysville and Lexington Turnpike Company, guaranteeing it to produce $30 annually. Ordered that the Financial Agent accept the proposition, provided Mr. Lyle will relinquish his scholarship.
- That the Financial Agent visit and examine the Knob land left to the College by Mr. David Williams, form its value, and prospect of selling it.
Adjourned to meet as the business requires.
William J. McKnight, Financial Agent
April 30, 1859
The Financial Committee met at the room of the Agent. Present: Dr. Green, Mr. Boyle, Jacobs, and Beatty. Dr. Green in the chair. A proposition was received from E. D. Hobbs, President of the Louisville and Frankfort Rail Road Co., proposing to redeem the bonds of his company by paying them par value, and the interest due on them up to the date of payment. Ordered that the proposition be accepted, and the Financial Agent be directed to settle with Mr. Hobbs on the above named terms. Adjourned.
William J. McKnight, Financial Agent
May 19, 1859
The Financial Committee met at the office of the Financial Agent. Present: Dr. Green, Mr. Beatty, and Mr. Jacobs. Dr. Green presided. A communication was received from the cashier of the Farmers Bank of Kentucky informing the Board of Trustees of Centre College that the bank would declare at its next regular semiannual dividend an extra dividend "of the accumulated surplus profits, to the extent of twenty percent, upon the capital stock," and proposing to give to each stockholder the privilege of subscribing for an additional share of stock in the bank, for each five shares of stock now held by such stockholder, and for any fraction of five shares, an additional share upon the payment of the amount over twenty per cent, dividend on such fraction, with ten percent premium thereon. Such overplus and premium may be paid for out of the regular semiannual dividend, if that should be sufficient, otherwise it should be provided for before the first Monday in July next.
The distribution to you may be stated thus:
On 75 of your shares you will receive = 15 shares
on 4 shares 20 per cent, $80
If you pay $20
and ten per cent premium thereon $2. $102 value of 1 share
You will secure 16 shares
Please to sign and return the subjoined power of attorney at your earliest convenience.
J. B. Temple, Cashier
The Committee accepted the proposition, and directed the Financial Agent to sign the power of attorney to fill the blank with the name of J. B. Temple, and direct him to subscribe for sixteen shares of stock, and to pay the $22 remainder out of the next semiannual dividend; and the Agt. was directed to procure the certificates of stock in the proportion of nine shares for the Theological Seminary and seven for Centre College, and to pay the Seminary $20 the premium on the 46th share of their stock.
The Financial Agent reported that he had collected the five bonds of the Louisville and Frankfort Rail Road Company, and the interest on the same from January l, 1859, to May 17, 1859, being $114.18, and that the whole amount of $5,114.18 is now on deposit with [illegible word], Lyons and Co. of Louisville, through whom the bonds were collected; and further that there is now on deposit in the Central Bank at Danville $476.89 of principal collected from various individuals and from sale of lot of ground belonging to the College, and that all this sum is ready for investment.
Ordered that the Financial Agent be and he hereby is directed to purchase seven Louisville City bonds at rates not to exceed 76 cents on the dollar. Committee adjourned.
William J. McKnight, Financial Agent
September 6, 1859
Financial Committee met at the room of Financial Agent. Present: Dr. Humphrey and Mr. Jacobs and Mr. Beatty.
It was stated to the Committee that Mr. Wiseman and Mr. Long had failed to secure a house in which to carry on their classical school, and that no building could be procured. The Committee deeming it very important that the school be continued, appointed Mr. Jacobs and Mr. Beatty to buy the property owned by Mr. Rodes, Barbee and Co. These gentlemen succeeded in purchasing the property for $575.
October 8, 1859
Financial Committee of Centre College met at the Office of Financial Agent. Present: Dr. Humphrey, John T. Boyle, John A. Jacobs and Prof. Ormond Beatty. Dr. Humphrey acted as chairman.
Ordered:
- That the Financial Agent be directed to purchase five Tennessee State bonds at rates not to exceed ninety one cents in the dollar.
- That the Financial Agent return the sum of $30, the amount of his tuition fee to Mr. Jon [unclear: Nall?], also the sum of $28.50 to Mr. E. [illegible word] the amount of his tuition fee. These gentlemen paid their fee before they entered College, and not being able to pursue the studies they designed, were permitted by the Faculty to withdraw and hence their tuition has been returned. This action is not intended to be construed as a precedent for further action.
- A communication was received from J. R. Ford proposing to sell to the Trustees his two scholarships in Centre College, which was referred to Ormond Beatty and William J. McKnight to examine into the proposition, and if it be found that he offers his whole scholarships for $375, the Agent is directed to buy them for the College.
- That John T. Boyle and William J. McKnight be a committee to visit Mrs. Carpenter, and endeavor to induce her to settle her note to Centre College.
- That the Agent be directed after a short season to address Mr. Fox another note urging him in stronger terms to settle his note.
- That the Agent be directed to rent the house and premises lately occupied by A. Bonta to Harrison Wickliffe, the janitor, for the sum of $50 per annum.
William J. McKnight, Agent
December 15, 1859
The Financial Committee met at the office of Financial Agent. Present: Dr. Green, John T. Boyle and 0rmon Beatty.
Ordered:
- That Financial Agent be directed to purchase two Tennessee bonds at the market value.
- That Financial Agent be directed to settle the note of A. T. Skillman, deceased, with his administratrix, Mrs. Elizabeth Skillman, on the following terms, viz. that Mrs. Skillman pay one half of the principal which is $250, the whole sum being $500, and the past due interest up to date of settlement, and release and relinquish to the Trustees of Centre College all right to use or devise the scholarship, for which the above note was given, forever.
- That the tuition fee of $33 paid by Thomas R. Dickerson, who has left College, be returned to his father Rev. A. C. Dickerson, the Financial Committee deeming the application by his father and his father's statement that his son's eyes were so diseased as to disqualify him for study a sufficient reason for this action.
- That Prof. Robert Patterson [professor of mathematics] be allowed to draw from the Treasury on the first of January approximately $200 in addition to his regular quarter's salary, for which Prof. Patterson and Ormond Beatty shall execute their note, one half payable when Prof. Patterson shall draw his quarter's salary on the first of April 1860, the other half pay when he draws his second quarter on the first of July 1860.
June 4, 1860
Financial Committee met. Present: Dr. Green, John A. Jacobs, Ormond Beatty, and John T. Boyle.
Ordered:
- That the Agent be directed to buy one Tennessee bond.
- That the Agent be directed to buy Mr. David A. Russell's two scholarships at the rate of $250 each, paying him for them with his own note of $500 held by the College for one of the scholarships, allowing Mr. Russell to send his son [blank space] to College for four years, but limiting the use of it to his son.
- That the Agent buy J. G. Talbott's scholarship at the rate of $250, taking the Talbott's note for the remainder ($250) and the interest now due (the whole to bear interest) payable six months after date.
- That the Agent buy the Rodes scholarship for $250 (if possible), allowing him the right to use it four years in the education of his son Charles, but it cannot be used in the education of any other person.
August 16, 1860 Office Financial Agent, Centre College, Danville
The Financial Committee of Centre College met this day. Present: Dr. Humphrey, Ormond Beatty, and John T. Boyle.
Rev. William J. McKnight, having resigned his office of Agent and Treasurer of Centre College, and there being a vacancy, the Committee requested and appointed Prof. Ormond Beatty to act as temporary Agent and Treasurer until the vacancy can be filled, which he consented to do.
The appointment of Financial Agent and Treasurer was tendered to Rev. Robert A. Johnstone who asked time to consider the subject, which is granted.
Edward P. Humphrey, Chairman
September 12, 1860
Financial Committee of Centre College met. Present: the chairman Dr. Humphrey and members Beatty and Jacobs. It was stated to the Committee that a letter had been received from Rev. Robert A. Johnstone, who had been appointed Financial Agent in the place of the Rev. William T. McKnight, declining the appointment thus tendered to him, whereupon it was resolved Mr. Samuel Heron be appointed the Financial Agent of the College, subject to the decision of the Board of Trustees of the College at their next meeting, with a salary at the rate of $500 per annum, and his office and travelling expenses when in the service of the Committee or Board paid. He is required to give his entire time to the service of the College, and (should he be appointed by the committee of the Theological Seminary) to the Seminary upon the terms and conditions embraced in resolutions appointing the joint agents of the two institutions heretofore.
Ormond Beatty, Acting Secretary
December 1, 1860
Financial Committee of Centre College met. Present Dr. Green, Mr. Boyle, Jacobs, and Beatty. It was ordered by the committee that John T. Boyle, Esq., be and he is hereby appointed Financial Agent pro tem for the College in place of Mr. Samuel Heron, with full powers to discharge all the duties of Financial Agent and Treasurer, and to receive papers and money from the representatives of Mr. Heron and settle with same.
It was ordered by the Committee that the rent of the house now occupied by Mr. Patterson be fixed at $[blank space] per annum, and the expense of all necessary repairs to be borne by the College.
Ormond Beatty, Acting Secretary
February 1, 1861
Present Green, Beatty, Jacobs, and Boyle.
On motion of John T. Boyle, ordered that the Building Fund account be kept in the names of the Financial Committee on the books of the bank, and that all money collected for that fund be deposited by the Agent and collected to their credit on said account in bank; and no portion of it to be drawn except by the check of the Agent and the Chairman, or two members of the Committee. Ordered that the Financial Agent make a permanent deposit of $2,000 for six months in bank, and is to bear interest thereon.
John T. Boyle, Secretary and Agent
February [no day given] 1861
Present Ormond Beatty, John A. Jacobs, Dr. Green, and John T. Boyle.
On motion, ordered that Rev. Heman H. Allen be and he is hereby appointed Financial Agent and Treasurer pro tem of Centre College, with the meeting of the Board of Trustees, at a salary of $500 per annum, payable quarterly. The appointment is made on the terms which Mr. Samuel Heron was appointed, and on same conditions and etc.
John T. Boyle, Secretary
Danville May 9, 1861 Office Financial Agency Centre College and Danville Theological Seminary
Financial Committee of Centre College met at the Office of Agent. Present: Edward P. Humphrey, Lewis W. Green, Ormond Beatty, John T. Boyle
The Committee, on consultation in regard to the funds belonging to the Building Fund and the General Fund, and the best disposition to be made thereof, and it appearing from information that the Central Deposit Bank is not willing to borrow the money or retain the same on deposit at interest subject to call or check, and the Committee regarding it safest to the interest of the College to loan the money to individuals, well secured by personal security or real estate security, ordered
- That they will loan the Building Fund, for one year, at six per cent interest per annum, payable in advance; that no loan shall be made except by the concurrence of at least three of the Committee approving the loan; that no loan shall be made on note with less than two perfectly good named, or mortgage or real estate, to be approved by three of the committee; that all notes for money loaned shall be made payable in bank in Danville.
- That the Financial Agent return to Mr. Constant Holt the three dollars paid by him as tuition.
Heman H. Allen, Financial Agent
October 1, 1861 Office Financial Agency of Centre College. Danville, Ky.
The Financial Committee met in the office. Present: Lewis W. Green, D.D., Prof. Ormond Beatty, John A. Jacobs.
On motion, it was ordered that the Financial Agent and Prof. 0. Beatty be entrusted with the money in bank, whatever amount may be on hand, to take care of and secure in the best manner they can devise, in case of an emergency, consulting the other members of the Financial Committee if they have opportunity. This order is understood to apply to the public bonds also belonging to the Trustees of the College.
October 7, 1861
The Financial Committee met in the office of the Financial Agency.
On motion, it was ordered that the Financial Agent transfer so much of the Building Fund as is now on deposit from the Central Bank of Ky., Danville, to the Northern Bank of Ky., Lexington.
Also, that the Committee approve the transaction of the Financial Agent, in which he released to Mrs. D. Carpenter her scholarship note of $500, taking her note, due one day after date, for $250; also, her note for $52.50 for interest. Mrs. Carpenter relinquishing to J. W. Welsh and he to the College, the rights to and use of her perpetual scholarship. Also, that the Agent transfer the balance of the General Fund in the Central Bank to the Branch Bank of Ky., Danville. Also, hearing that Mr. Ralston and Burbank have given up the Preparatory Department, that the Committee concur with the Faculty of the College in offering the charge of that department to Mr. George E. Wiseman, as Principal, and Mr. William Young, as Assistant.
Subsequently, without any formal action on the part of the Committee, Samuel T. Allen was employed to teach the Preparatory Department. And at the close of the first Session, the first of February, by the approval of the Faculty, Samuel T. Allen gave up the position to Rev. W. D. Symington.
January 28, 1862
The Committee informally authorized the Financial Agent to settle the note of A. D. Meyer and A. D. Irvine by taking, in exchange for their notes, a note on S. E. Farrand; Also, in the settlement, to purchase the scholarship of A. D. Irvine by relinquishing one half the note.
Heman H. Allen, Secretary
Danville, Ky. May 13, 1862
The Committee met at the office of the Financial Agency. Present: Dr. Green, Mr. Ormond Beatty, Joshua T. Bell, and John A. Jacobs.
Mr. Beatty presented the account of Prof. Robert Patterson for repairs on his house, which was allowed by the Committee, with the following order, to wit, that no additional expenditures will be allowed for repairs on the house before the close of the second year during which it has been occupied by Prof. Patterson.
With regard to the present use of the permanent fund now lying in bank, the Committee passed the following order: That Mr. Bell be authorized to use it for the purchase of good private paper, at a discount of about ten per cent; the money shall be loaned to private individuals, with good security, for one year.
Ordered: That in case of parties owing notes for scholarships to the College, who make use of their scholarships, and yet neglect to pay the interest on them, the Agent be directed to insist upon their prompt payment, and in case of failure to bring suit for the collection of the notes.
Heman H. Allen, Secretary
Danville, Ky. May 17, 1862
A meeting of the Financial Committee was called at the office of the Financial Agent. Only two of the members were present, namely, Ormond Beatty and Mr. John A. Jacobs.
A proposition was presented to the Committee from Charles Henderson, Esq., to relinquish his right to a perpetual scholarship in Centre College, paying one half the principal of his note, $250, with one year's interest, there being now, four years interest due on it. In view of certain facts in the case, the Agent was authorized to accept the proposition.
Ordered that the Agent take out an insurance policy in the Liverpool Ind. Company, on the Sayre Hall [first Sayre Library] for $4,000 at 1/2 per cent.
Heman H. Allen, Secretary
Office Financial Agency July 9, 1862
Financial Committee met pursuant to call. Present: Dr. Green, Prof. Beatty, and John A. Jacobs.
On motion it was ordered
- That the Financial Agent return to Gavin E. Wiseman of $25 for balance of rent of Preparatory Department for the year ending June 1861.
- That Dr. Green obtain from Dr. Edward P. Humphrey a copy of his remarks at the inauguration of the Sayre Hall, and have the same, in connection with his own speech delivered on the same occasion, published in pamphlet form.
- That Mr. Beatty be directed to see what repairs are needed on the Preparatory Department, and order them to be made.
Heman H. Allen Secretary
Office Financial Agency July 31, 1862
Financial Committee met pursuant to call. Present: Prof. Ormond Beatty and John A. Jacobs, Esq.
On motion, it was ordered:
- That the Committee will not invest any portion of the College funds in public securities, at present.
- That if an investment is effected, with private securities, the Committee will require not less than two satisfactory persons as security, in addition to the principal, all to be equally bound, and also will require the interest to be paid semi-annually, in advance; that the loan be made for one year, the Committee claiming the right to collect it when due.
It was ordered by the members present that the security should present the above orders to Mr. Joshua T. Bell for his approval before recording or acting upon them, which was accordingly done.
Heman H. Allen, Secretary
September 16, 1862
Financial Committee met pursuant to call. Present: Prof. Ormond Beatty and John A. Jacobs, Esq.
It was ordered that the salary of the sexton, Harrison Wickliffe, be reduced from $150 to $100 per annum, the reduction to take effect from the lst day of July 1862. Dr. Green afterwards appeared in the Committee, making a quorum, and approved the order.
Heman H. Allen, Secretary
Office Financial Agency December 1862
Two members of the Financial Committee, viz. Drs. Lewis W. Green and John A. Jacobs, Esq., met at the Office by previous arrangement with Dr. Humphrey, president of the Board of Trustees, and after conferring together, having learned that there was special necessity for paying at least a portion of the salary of Professor Robert Patterson, directed the Financial Agent to pay to Prof. Patterson $300 on account of salary: also directing him to lay this action before Prof. Beatty on his return to Danville, and if it meet his approval, to put it on record as an order of the Committee. Prof. Beatty, having given his approval to the action, the order is entered on the minutes.
Heman H. Allen, Secretary
January 12, 1863
The Financial Committee met pursuant to call. Present: Dr. Lewis W. Green, Prof. Ormond Beatty, and John A. Jacobs, Esq.
The Financial Agent, having stated that the note of F. L. Fox for $537.50 or thereabouts, had been lost, he was ordered to get a new note, which should be as near as possible a duplicate of the old note. In the case of S. E. Farrand's note, due 15th December 1862, the Financial Agent was ordered to give Mr. Farrand further time for payment, provided he would make the note secure.
The Financial Agent was also ordered to purchase with any funds in his hands belonging to the principal, a note for $250, due 1st March 1864, on A. Clemens and W. L. Larkington, of J. U. Henderson, [illegible word], provided he finds either the first-signer or endorser of the note to be responsible and prompt in payment. Note to be purchased at the usual discount.
Heman H. Allen, Secretary
Office Financial Agency Danville, Ky. January 29, 1863
The Financial Committee met pursuant to call. Present: Rev. Dr. Lewis W. Green, Prof. Ormond Beatty, and John A Jacobs, Esq.
The question was presented to the Committee by the Financial Agent, whether he should pay $250 for the scholarship owned by Isaac W. Scott. Also, the half scholarship of Robert S. Taylor and Mrs. Nancy A. Huston by relinquishing one half the note of $250. After considerable discussion, the Committee decided that, in their judgement, the action of the Board of Trustees, authorizing the Financial Agent to purchase scholarships at a price not exceeding $250, did contemplate his paying $250 in cash out of the permanent funds of the College in his hands for scholarships, for which the sum of $500 had been paid to the College. The Financial Agent was therefore directed to purchase the scholarship of Isaac W. Scott, at $250. The half scholarship above alluded to, he was directed not to purchase.
It was also ordered that the Financial Agent pay to each of the Professors the sum of $300, of the funds now in his hands, and to the President a proportionate part of his salary, taking the notes of the individuals for the amount.
Heman H. Allen, Secretary
June 15, 1863
At a meeting of the Financial Committee, Prof. Ormond Beatty and John A. Jacobs, Esq., being present, it was ordered that the Financial Agent should subscribe, on behalf of the Board of Trustees, five shares in the National Bank into which the Central Bank is about being transferred by its stockholders, that being the amount of stock owned by the Trustees in the latter bank.
Heman H. Allen, Secretary
Office Financial Agency, Danville Ky. July 18, 1863
The Financial Committee met pursuant to call. Present: George F. Lee, Esq., chairman, appointed at last meeting of Board of Trustees in place of Dr. Green, John A. Jacobs, Esq., and Prof. Ormond Beatty.
Ordered that the salary of the janitor, Harrison Wickliffe, be increased to $125 per annum.
The Financial Agent having laid before the Committee a copy of the will of Mrs. Catharine W. Bradshaw, it was ordered that he consult immediately with Joshua F. Bell, Esq., as to the steps which ought to be taken in regard to the matter of the above will, and proceed at once to act upon his advice.
Heman H. Allen, Secretary
Office Financial Agency, Danville Ky. November 3, 1863
At a meeting of the Financial Committee, at which were present George F. Lee, Esq., chairman, John A. Jacobs, Esq., and Prof. Ormond Beatty, the following orders were passed
- That $50 be paid to Heman H. Allen for his services as instructor in the College, in the absence of Prof. Cooper, from the opening of the present session to the 5th day of October following.
- That the tuition fees of V. P. Thomas and M. P. Drury be returned to them, they having been withdrawn from the College soon after entering.
Heman H. Allen, Secretary
Danville, Ky. December 3, 1863
At a meeting of the Financial Committee, pursuant to call, only Mr. Jacobs and Prof. Beatty were present.
The Financial Agent was directed to invest the $200 of the Alumni Association Fund, reported in his hands, in U.S. 5-20 bonds, the investment of this fund having been intrusted to them by the Association. Terms were agreed upon in regard to purchase of the scholarships of C. Rodes and F. G. Montgomery, the former to be purchased by relinquishment of 1/2 note - $250 - with the privilege granted Mr. Rodes of tuition free for his son Charles; the latter to be offered the relinquishment of the interest due on his note - $420+ - provided he will pay the principal and relinquish the scholarship. If he should not accept this proposition, he is to be requested to furnish in writing a statement to the Board of what he wishes them to do in regard to his note, with his reasons for it. If he refuses to do this, then the note is to be pressed for collection.
Ordered that the Financial Agent have the Patterson house insured at $1,000.
Ordered that the Financial Agent write to Rev. Alex Cowan, agent of [Kentucky] Colonization Society, that the secretary of that society can draw on the Financial Agent for the $500 appropriated by the Board to aid in removing the Overton negroes to Liberia upon furnishing to him a certified statement that the said negroes have sailed from Baltimore.
Heman H. Allen, Secretary
Danville, Ky. March 7, 1864
Financial Committee met pursuant to call. It was ordered that the Financial Agent direct our attorney at Hopkinsville to propose to Mr. J. F. Montgomery, who resists the payment of his scholarship note, to submit the decision of the case to the arbitration of the judge, without a jury, Dr. Montgomery having appealed with Board of Trustees to release him, upon his statement of facts; see his letter on file.
Ordered, also, to rent the Patterson house to Mr. Stevens at $150 or $200, at discretion, for twelve months. It was rented at $200. Ordered, also, to return one half the tuition of [William J.] Lapsley for this session, he having been under necessity of returning home. Mr. Beatty was directed to negotiate with Mrs. John C. Young [deceased President of Centre College] for the relinquishment of her scholarship, with some discretion as to the extent to which she should hold a reserved right for the education of Dr. Young's grandchildren, free of tuition.
Heman H. Allen, Secretary
Office Financial Agency July 4, 1864
At a meeting of the Financial Committee, called at the same time with the Building Committee, the following members of the two committees being present, Prof. Ormond Beatty, Dr. Humphrey, William J. McKnight, and Ezekiel Forman, the bank statements of Heman H. Allen, Financial Agent, were carefully examined, and the amount of his deposits, on the 10th of June, all were found to correspond with the amount of the cash balance called for in his last report, to wit $12,423.03. This examination is made by order of the Board of Trustees at its last meeting, which order was in compliance with the request of the Financial Agent.
Ormond Beatty
Office Financial Agency, August 27, 1864
The Financial Committee met, pursuant to call. Members present: Prof. Ormond Beatty and Mr. John A. Jacobs and George F. Lee. It was ordered
- That the Preparatory Department be rented to Mr. Ralston and Burbank at $100 per annum. All permanent repairs to be made at the expense of the College, all other repairs to be made at their own charges.
- That the Financial Agent have the Preparatory Building insured. That portion of the Permanent Fund now on hand, having been lately invested in the U.S. six per cent temporary loan.
- That the investment be approved.
Heman H. Allen, Secretary