1 RESERVE AND ENDOWMENT FUNDS. TRUSTEES. SIR THOMAS CHAMBERS, Q.C., M.P., Recorder of London; JOSEPH COWEN, Esq., M.P. THE Council of Trinity College, London, having been advised that it is desirable that Reserve and Endowment Funds should be formed in connection with the College, in order to provide against possible contingencies in the future, have decided to organise such funds, to be placed under the care of three or more Trustees. The many necessary expenses incident upon the removal of the Institution to a larger and much-needed building, and also upon the reincorporation of the Council with extended powers, have already made large demands upon the private resources of individual Members of the Council, who have very willingly made these sacrifices in order to keep the Institution free from debt. At the same time, the Members having voluntarily bound themselves in their Articles to devote every farthing of the income to the furtherance of the public objects of the College, it is felt that they ought to be protected against monetary anxieties on behalf of the Institution, which they feel none the less incumbent upon them because their own individual liability is protected by guarantee. The College does not possess, nor did it at any time possess, any capital or endowment. It began without any public appeals for aid, the founders preferring to point to actual work done as the best raison d'être of the Institution, and its best claim to the support of the public. In this, the tenth year of their labours, the Executive feel that the time has now come when they may fairly ask the thousands of students and candidates, and the friends of educational enterprise, to help them in placing the financial affairs of the College upon a permanently satisfactory basis, in order that their hands may be strengthened for the grand work which lies before them. The Council are advised that to carry out their object with advantage to the Institution it will be necessary to have two distinct funds :-(1) the Reserve Fund, which would be available at any time, with the consent of the Trustees, for meeting any urgent and exceptional demand for money, such as is necessarily felt by every public Institution from time to time; (2) the Endowment Fund, which would not be so available, but would be permanently invested in the names of the Trustees in Consols, or some other public security, to form the nucleus of a fixed and guaranteed income for the College. All Donations and Subscriptions to either or both of the Funds will be duly acknowledged in the College Calendar, and in one or more of the London daily papers. |