University of Virginia Library

— I. —

The Endowment

1. The Christian Woman's Board of Missions agrees to set
aside for the support of the Chair the sum of      
thousand dollars ($      ), being the present endowment fund

originally raised by said C. W. B. M., for the support of
the John B. Cary Bible Lectureship, augmented by the gift
of twenty thousand dollars ($20,000.) contributed for the
purpose by Mr. T. A. Cary, of Richmond.

Trustees

2. This endowment fund shall be held by a Board of Trustees,
consisting of                      (If other than
the Ex. Com. of the C. W. B. M., it should be here stated how
they are to be appointed and perpetuated).

Duties of Trustees

3. The Board of Trustees shall preserve the endowment or
capital fund entire, investing it in good, substantial, and
safe securities. The interest upon said endowment shall be
paid over quarterly to the Bursar of the University of Virginia,
and by the Bursar paid out for the salary of the Professor
of Biblical History and Literature, and for the legitimate
and necessary incidental expenses of the chair. The
Trustees shall see that the money paid over to the Bursar shall
be used fully and only as herein provided. Any surplus or balance
of the income from the endowment, over and above the necessary
expenses of the Chair, shall be held subject to future
needs, or shall be added to the endowment. The Trustees shall
annually submit their account to an auditor, who shall be an
expert accountant, and shall give a sworn statement of his
findings.

Increase of Endowment

4. The Trustees and the Rector and Visitors of the University
of Virginia are empowered to solicit in any wise, and from

any source they deem proper, additional funds for the increase
of the endowment as the needs of the Chair may demand. Such
needs shall be the salary of the Professor and of any assistants
the growth of the work may require, the purchase of any
supplies for the Chair (such as stationery and the like), the
purchase of books required for the proper prosecution of the
work of the Chair. Such books and other property acquired
shall be under the control of the Trustees as is the endowment
fund itself.

Reversion of Funds

5. If the University of Virginia shall at any time become
unable or unwilling to continue the Chair of Biblical History
and Literature for three consecutive years, in accordance
with the conditions hereinbefore specified and those hereinafter
named, then the whole of the original endowment fund
of the John B. Cary Bible Lectureship, consisting of
thousand dollars ($     ) and the added gift of twenty thousand
($20,000) from Mr. T. A. Cary, shall be surrendered to
the Christian Woman's Board of Missions, or their legal successors
or assigns, to be disposed of or applied as they shall
deem best, or as specified in the original deed of gift or
conveyance of the donors. Any added funds other than those
specified above shall be disposed of as their donors may have
indicated at the time of making the gift, such specification
of the donors wish to be in every case secured by the Trustees
or the University of Virginia when accepting the gift.