ENDOWMENT OF PROFESSORSHIPS AND SCHOLARSHIPS
THROUGH THE SOCIETY OF ALUMNI.
Under an act of the Legislature, entitled "A bill to incorporate the
Society of Alumni of the University of Virginia," this Society is
authorized, by its Executive Committee or in such other way as it
may direct, "to raise the sum of five hundred thousand dollars to be
held in the name of the `Society of Alumni of the University of
Virginia,' to be safely invested, and the net annual income therefrom
to be applied to the benefit of the University of Virginia." It is also
empowered "to employ agents to obtain endowments for scholarships
and professorships, to solicit donations, to dispose of anything
of any value belonging to the Society or entrusted to its management
for the purpose of endowing professorships or scholarships, or for
accomplishing any of the other objects of the Society authorised by
its charter."
