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etery, after the receipts from land sales shall have ceased. first instalment of three thousand five hundred and ten dollars has been paid
by the Treasurer to the Massachusetts Hospital Life Insurance Company,
in pursuance of a vote of the Trustees, by which it is required that one-fifth
part of the gross proceeds of sales of land, shall be annually deposited
with said company, until the whole sum thus deposited, together
with its accumulations of interest, shall amount to one hundred and fifty
thousand dollars. The farther to insure the stability of this investment,
the Trustees have caused to be inserted in every new deed of conveyance
a covenant binding the Corporation to the preservation and increase
of this permanent fund, so that no future Board of Trustees will have
the power to misapply or to divert any part of it from its legitimate
destination.

By the Treasurer’s report it will be seen that the receipts of the last
year have considerably exceeded those of the previous year, while the
expenditures have been less; showing that the Trustees have thus far
been able to keep up the same prudent policy which has heretofore governed their movements.

For the Trustees.
JACOB BIGELOW, President.

Boston, Fesruary 1, 1858.