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 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."
