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 the 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 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 authorized by its charter."
