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 authorized by its charter."
