(Incotpotated--r873--New Jersey)
Trust~e3
Elected by Si!:venth-day Baptist G.::nera! Conference
William M. Stillman, 1903 Plainfield
Stephen Babcock, New York City
Clarke T. Rogers, Dunellen
Joseph A. Hubbard, 1904 Plainfield
Henry M. Maxson, Plainfield
David 1':. Titsworth, Plainfield
William C. Hubbard, 1905 Plainfield
Charles C. Chipman, Yonkers
J. Dennison Spicer, Plainfield
Trustees ex-Officlo
Frank J. Hnbbard, Treasurer of American 'William H. Crandall, "Sabbath Tmct Society Alfred University Milton College
" The Seventh·day Baptist Missionary Society Seventh-Day Baptist Church, Plainfield Albert Whitford,
George H. Utter.
William M. Stillman
PRESIDENT, VICE·PRESIDENT, TREASURER, SECRETARY,
Officers
Henry IrL Maxson David E. Titsworth Joseph A. Hubbard David E. Titsworth
ALFRED YEAR BOOK, 1904-05
Funds Held in Trust for Benefit of Alfred University
(Abstract of Report, July I, 1904 to July I, 1905) l. PLAINFIELD PROFESSORSHIP OF DOCTRINAl.THEOLOGY.
Mortgages ... . Note ... . Real Estate ... . Deposited in Dime Savings Institution •••..•
2. BABCOCK PROFESSORSHIP OF PHYSICS.
Mortgages ... . Bond ... . Real Estate ... . Deposited in Dime Savings Institution ... . 5. V\TILLIAM B. MAXSON PROFESSORSHIP OF
GRF~EK LANGUAGE A",n L1TERATUR~'.
Mortgages ... . Deposited in Dime Savings Institution ..•..•
4. PROFESSORSHIP OF CHURCH HISTORY AND HOMILETICS.
Mortgages ... . Deposited in Dime Savings Institution •.•.•.
5. NATHAN V. HULL PROFESSORSHIP OF PASTORAL THEOLOGY.
Deposited in Dime Savings Institution ••..••
6. ALFRED UNIVERSITY.
Mortgages ... . Deposited in Dime Savings Institution .•••..
7. CHARLES POTTER PROFESSORSHIP OF HISTORY AND POLITICAL SCIENC\<:.
Mortgages ... . Deposited in Dime Savings Institution ...•.•
8. *GEORGE H. BABCOCK FUND ... ..
9. E. LUA BAllCOCK FUND ... . Total ... .
$ 7,600 00
10000
2.300 00
57 01 - 10,057 OI 17.400 00
467 So 3,332
830 22,030 IS
10,100 <.lO
280 00 10,38000
6,60000
6S 00- 6,665 00
5000 200 00
1260 21260
27.950 00
1,017 44-- 28,cj57 44 73,055 68
29,222 27
---
$180,640 05
"THESE ENDOIVMENT FUNDS (numbers 8. 9. 10) were provided for in the will of the late GEORGE H. BABCOCK. of Plainfield, N. J., Section Twenty.
four. Subdivisions seventh, eighth and ninth, as follows:
S~:CTION TWEN~ Y·FOURTH. Out of the residue and remainder of my estate. real and personal, I give. devise and bequeath to the "BOARD OF TRUSTEES OF THE SEVENTH-DAY BAPTIST MEMORIAL FVND," a duly incor·
porated body, located in the City of Plainfield, N. J., and its successors, for ever, the snm of two hundred thousand dollars in cash. or in such property owned by me after the above bequests have been provided for as they may elect to take at their appraised value. the same to be by them invested and kept invested. and the net income therefrom to be used as follows:
Savell tit : If there be sufficient income from the fund, I do order and direct that a sum not exceeding the income upon teu thousand dollars shall be paid by them as occasion may offer for the purpose of aidi1lg young people (male or female) in prepa,-ing for the Gospel Ministry in tke Seventh·day Baptist Denomination.
ApPENDIX B
Eighth: I do order and direct that the income received from twenty th0usand dollars shall be paid to the TRUSTEES OF ALFRED UNIVERSITY, to be known as the" E. LUA BABCOCK FUND," the same to be applied by said trustees in keeping the grounds in good order and repair and for the purpose of inculcating ideas and habits of order and neatness among the students.
Nillt!t: I do order and direct that the income received from fifty thou- sand dollars shall be paid to the TRUSTEES OF ALFRED UNIVERSITY, to be
used by them for such purposes as they shall deem best.
These funds are invested as follows:
Mortgages ... ..
Real Estate ....•...•..•....
Contract for Real Estate (balance) ....••...•
Deposited in local National Banks .•.•...•
Deposited in Dime Savings Institution .•.•..
Total. ... ..
257,~97 00 28. 809 75
1,300 00
3.923 20 6g2 79
Funds Held in Trust for Benefit of Educational Institutions
ID. *GEORGE H. BABCOCK FUND TO AID YOUNG
PEOPLE PREPARING FOR THE MINISTRY ... $14,6r I 13
I I . BJ·CENTENNlAL EDUCATION FUND.
Mortgages ...
... ...
5,634 60 Bonds ... 1,000 00Deposited in Dime Savings Insti\ution ... 70 0 0 0- 7,334 60
Income Paid to Alfred University in Ten Years
Year 2 3 4 5 6
ISg6 5'395 1,116 80 63000 651 06 24 co
97 367 25 2,134 05 417 66 225 00 12 00
93 272 8r 1,07 1 84 53 go 535 68 5 41 14 85 99 42998 270 59 335 06 482 52 2 90 II
n
19oo 416 8r 1,570 02 332 6g 4" 72 I 23 6 63 or 373 48 1,087 61 154 84 429 48 I 25 5 35 02 541 9 2 I,on 39 46g 28 1,336 65 I 27 5 44 0'
.,
446 38 6gg 47 531 02 14343 I 34 5 72 04 465 74 618 85 499 02 25 1 94 ' 23 6 16 05 45399 11028 24 474 86 272 65 ' 44 16 25 4,282 3r 10,674 86 3. 898 33 4.740 13 16 07 108 '77 8 9 10 I l
.896 1,000 00
97 292 0 2 4,000 00 1,600 00 200 00
98 468 go 2,~ 95 1,15998 193 33 6, 24 99 952 23 4,228 30 1.6gr 32 200 00 100 00
19"0 1,257 22 3.786 73 1.5 14 6g 461 00 6-" 81 or 1,331 47 4.407 09 1,762 84 279 01 121 02 02 1.078 57 4.996 23 1,998 49 405 00 12080 03 1,290 19 3.]69 36 1. 267 75 465 00 102 73 04 '.985 87 3,195 54 1,278 22 365 00 lOS 93 oS 1.272 64 3,066 33 '.226 .14 40.1 00 1.18 74
10,929 II 33,749 .13 '3,499 83 2.97.3 J4 83' 27
ALFlum
YEARBoo«, 1904-05
J905 LAWS OF NEW JERSEY Chapte1'2J3 At the annual session of the legislature of New Jersey held in 1905, a general act was passed affecting corporations organized for religious, educationaL charitable and benevolent purposes. It be- came a law, April 20, 190,. The following is a copy:
I
Every corporation of this state organized for religious, education"'l, charitable or benevolent purposes under the ;Jrovisions of any act of the legislature of this state, general, special, or private, is hereby authorized to take and hold by purchase, gift, devise, be- quest, or otherwise, for any religious, educatIOnal, charitable or benevolent purposes whatsoever, such real or personal property, or both, as such corporation may require, or as, in any manner, may have been or may be vested in such corporations for, or any all of such purposes, and to grant, bargain, seU or convey the same, and every such corporation is further authorized to take and hold in trust lor any religious, educational, charitable or benevolent pur- poses whatsoever, such real or personal property, or both, as ,in any manner may have been or may be given, granted, conveyed, be- queathed or devised to, or otherwise vested in such corporation in trust for any of said purposes, and to grant, bargain, sell and con- vey property so held or to be held in trust for any such purposes, in accordance with the terms of the gift, grant, conveyance, bequest, devise or instrument creating such trust or trusts, respectively.
2.