News

Progressive Labor Party Organizes Solidarity March With Harvard Yard Encampment

News

Encampment Protesters Briefly Raise 3 Palestinian Flags Over Harvard Yard

News

Mayor Wu Cancels Harvard Event After Affinity Groups Withdraw Over Emerson Encampment Police Response

News

Harvard Yard To Remain Indefinitely Closed Amid Encampment

News

HUPD Chief Says Harvard Yard Encampment is Peaceful, Defends Students’ Right to Protest

Mr. Greenleaf's Bequest Now One Million.

NO WRITER ATTRIBUTED

Owing to lack of space in yesterday's issue, the clauses of Ezekiel Price Greenleaf's will relating to Harvard could not be published till to-day. The amount left to Harvard College is now reported to be one million dollars.

Clause 9: "I give, bequeath and devise all the rest, residue and remainder of my estates, real, personal and mixed to the president and fellows of Harvard College, to have and to hold the same to them and their successors and assigns forever, absolutely and in fee, but in trust, nevertheless, to and for the uses and purposes herein set fourth, and declared of and concerning the same viz: The said president and fellows are to take and receive said property and estates, and to hold, manage, and invest the same according to their best judgement and discretion, taking care, however, to keep said property and estates as a distinct and separate investment apart from all other investments made and held by them, so that the amount and kind of property and estates held in trust under this will together with the income, interest and profit thereof, may, at all times, clearly appear on their books of account. The said trust fund, thus held and invested, is to be called and known as the 'Price Greenleaf Fund.' The net income derived from said fund is to be used, appropriated and applied by said president and fellows as follows: A sum equal to, but not exceeding $3.000 a year, shall be divided into shares of $300 each, and each of said shares shall be paid in each year to an undergraduate, who by reason of insufficient means, shall be unable to pay the expenses necessarily incurred in pursuing his studies as a member of the academic department of the college; in the selection of the 10 students, to each of whom one of said shares of $300 is to be paid, preference is to be given to those who by industry, good conduct and zealous effort shall be deemed by the president and dean of this college to be meritorious students and entitled to encouragement and support; it being however, my wish that said money should not be awarded to any student solely by reference to his rank or standing as a scholar, but that regard should also be had to earnest and honest endeavor to attain excellence. The scholarship hereby established shall be called the 'Price Greenleaf Scholarship.'

"All the residue of the income and profit of said fund shall be used, appropriated and applied to the maintenance and support of the library of the college, the preservation and repair of books therein, and to the purchase of books therefor; no part of such income and profit or of the principal of said trust fund shall be used or appropriated to the repair of any buildings occupied by or intended to be occupied by the said library, or to the erection of any such building. This gift is subject to the following conditions: First, that the scholarship shall be known and designated as the 'Price Greenleaf Scholarship;' second, that a separate and distinct department of the library of the college shall be established and maintained and a portion of the building appropriated to the library shall be set apart to be known and designated as the 'Price Greenleaf department of the library."

Clause 10:

"Instead of the wishes set forth and declared in the said ninth clause, the testator directs that all of said income which shall remain after the payment of the sum of $3000 for the maintenance and support of the 10 scholarships, shall be divided into two equal parts, one of which parts shall be applied to the maintenance and support of the library of said college by the purchase of books, the preservation and repair thereof, etc., and in all other respects this half of said residue to be subject to the like restrictions and conditions set forth in the ninth clause of the will, except that a separate and distinct department of the library shall not be established as previously provided, unless it is deemed expedient to do so.

"The other half of the said residue shall be appropriated in such manner as said president and fellows shall deem expedient to reduce the general expenses necessarily incurred by undergraduates of the college in pursuing the studies required to obtain the degree of bachelor of arts, who are not of themselves or with the aid of their parents of sufficient pecuniary ability to pay for the same. In the disposition of this part of said income, it is the intention of the testator to furnish aid to worthy young men who are not able to obtain the means of paying the ordinary cost of an education in the college without extraneous aid."

Want to keep up with breaking news? Subscribe to our email newsletter.

Tags