Fairbanks Papers Box 2 Document 10

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Fairbanks Papers Box 2 Document 10

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Col. Isaac Croom

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

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- accretions to the Trustees of the University of Alabama upon the terms and conditions & for the same uses and trusts upon & for which it is herein before given to the Trustees of the Southern University -

Montgomery, Ala Nov 26 18[59?] signed Is Croom

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University of the South [No 185?] Certificate No

Isaac Croom of the State of Alabama hereby makes a subscription in favor of the University of the South an institution duly incorporated under the laws of the State of Tennessee of the sum of Twenty Five Thousand Dollars payable to the Treasurer of said University for the Diocese of Alabama or to his order as follows — Upon the terms & conditions subject to the limitations & for the uses & purposes & no other specified & set forth in a certain paper [donation?] presented by said [Donor?] to the Trustees of the University of the South at a meeting held by them in the City of Montgomery Alabama in the month of November [----?] 185[7?] for the purpose of endowing a Professorship of ^Scientific & Practi[-] [-]cal Agriculture in said Institution & which document is now in the keeping of the Treasurer of the Diocese of Alabama & to which reference is hereby specially made.

signed Is. Croom

Dated Greensboro Alabama This 5th day of January 1859

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(Copy) Of Instrument of Donation of of $ 25,000 to endow Professorship of Scientific & Practical Agriculture by Isaac. Croom of Alabama

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