ENPages That Mention the Southern University
Fairbanks Papers Box 2 Document 10
1
No 185 For the endorsement of a Professorship of Scientific & Practical Agriculture in the Southern University. I agree to give the Trustee thereof the sum of Twenty Five Thousand dollars upon the following terms & conditions, as well as for the uses and trusts here(^in)after enumerated viz. Where the University shall be in successful operation & a demand arises for the payment of a salary to the incumbent of the Professorship I will pay for that purposes the sum of two thousand dollars per annum to be made in two equal semi-annual payments in advance for & during the term of my natural life — Pro. rata deductions to be made when the Chair is not filled. The payment of the principal sum of Twenty Five Thousand Dollars to be paid by my legal representatives after my death & to remain intact & inviolable for a permanent fund, the interest of which shall be applied to the payment of the salary of the Professor, and all interest accruing during the vacancies, shall be applied to augment the principal sum.
In the event that there shall be a dissolution of the Southern University within twenty one years after my death, I give this fund with all its