174 



Extract from the Laws. 



The Henry M. Phillips Prize Essay Fund. 



Miss Emily Phillips, of Philadelphia, a sister of Hon. Henry 

 M. Phillips, deceased, presented to the American Philosophical 

 Society held at Philadelphia for Promoting Useful Knowledge, 

 the sum of five thousand dollars for the establishment and 

 endowment of a Prize Fund, in memory of her deceased brother, 

 who was an honored member of the Society. The Society 

 accepted the gift and agreed to make suitable rules and regula- 

 tions to carry out the wishes of the donor, and to discharge the 

 duties confided to it. In furtherance whereof, the following 

 rules and regulations were adopted by the Society : 



First. The Prize Endowment Fund shall be called the 

 " Henry M. Phillips Prize Essay Fund." 



Second. The money constituting the Endowment Fund, viz., 

 five thousand dollars, shall be invested by the Society in such 

 securities as may be recognized by the laws of Pennsylvania, as 

 proper for the investment of trust funds, and the evidences of 

 such investment shall be made in the name of the Society as 

 Trustee of the Henry M. Phillips Prize Essay Fund. 



Third. The income arising from such investment shall be 

 appropriated as follows : 



(a) To making public advertisement of the prize and the sum 

 or amount in United States gold coin, and the terms on which 

 it shall be awarded. 



(b) To the payment of such prize or prizes as may from time 

 to time be awarded by the Society for the best essay of real 

 merit on the Science and Philosophy of Jurisprudence, and to 

 the preparation of the certificate to be granted to the author of 

 any successful essay. 



Fourth. Competitors for the prize shall aflSx to their essays 

 some motto or name (not the proper name of the author, how- 

 ever), and when the essay is forwarded to the Society, it shall 

 be accompanied by a sealed envelope containing within the 

 proper name of the autlior, and, on the outside thereof, the 

 motto or name adopted for the essay. 



