PROCEEDINGS OF THE EOARD OF REGENTS. XIII 



by one of the properties on the adjoiniiiLj; ]ireini.<es owned ]>y her. After scnne nego- 

 tiation the matter was adjuste(lj)y the payment to Mrs. Chase of the sum of S220 

 and the conveyanee of tlie narrow strip of land in (piestion to the Institution. The 

 committee recommends that in case a fair piice )ieoff(>red fm-any nf tliese proj>erties 

 the Institution dispose of its holdings. 



THE ANr)KK\\S HI':<)UKST. 



At the last annual meeting of the Regents the sjiecilicatinii in t lie will nf Wallace C. 

 Andrews, deceased, naming the Institution as the residuary legatee of his <'state, 

 contingent on the failure of a lieijuest for founding at Willoughby, Ohio, an institu- 

 tion for the free education of girls, was set forth at some length. It appears that 

 after specific bequests amounting to $500,000 have been executed a residuum of at 

 least $1,000,000 will remain. ]Mr. Hackett, counsel for the Institution, is in connnu- 

 nication with the counsel for the executor, and Edmund Wetmore, Esi[., a member 

 of the bar of the State of New York, has also been retained to look after the interests 

 of the Institution in the matter. The following extract is quoted from ]\Fr. Ilackett's 

 report on the present status of the be(iuest, so fjir as it coiUH'rns the Institution: 



"As already stated, the s(-lieme of founding a young ladies' school in Ohio is likely 

 to prove impracticable. It is significant that, as yer, no one in ( )hio has taken any 

 steps to secure the payment of the legacy. I'nder the terms of the will certain offi- 

 cials, including the governor of the State, are umdv trustees to administer this fund. 

 The mayor of the little town (Willoughby) is of the board. This officer has inquired 

 of Mr. Plawes as to what has been done in the premises, but no active interest is 

 exhibited in Ohio f;)r the reason that there is no one wIk.) may be said to have an 

 interest in the success of the scheme." 



It is hoped that liefore long an amicable understanding jnay ])v had for obtaining 

 a ruling of the coin-t as a guide to the executor in carrying out the provisions of the 

 will. 



THE SPKACUTE HEtJUKST. 



The attention of tlie Regents was called at their last meeting to the provisions of 

 the will of Mr. Joseph White Sprague, who, after be(jueathing certain personal 

 effects to relatives, directs the executor, in trust, to convert the personalty into money 

 and to distribute 85 per cent of the incomeof the entire estate among certain devisees 

 until twenty years after the death of the last of said devisees, when tlu' trust will 

 expire by limitation and all assets in tlie hands of the trustiM' will be conveyed to the 

 United States of America in accordanct' with the following iiaragrapli in the will: 



"When the trust herein created exjiires liy limitation, as aforesaid, then all dis- 

 tribution of the income of the trust profterty is to cease, and said trustee is instructed 

 and directed to assign ami make over by pro])er conveyance all trust i>roperty in his 

 possession, whether real or personal, invested or uninveste<l, to the United States of 

 America, to be held by said United States as a, ]iorti<iii of the funds of the Smithson- 

 ian Institute, to be known as the 'Sprague fund," lli<' income of this fund to be used 

 as follows: One-half of sai'l income in each year to be added to the ])rinciiia!. The 

 other half of said income is to lie ex]>ended, under the direction of the officers of the 

 said Institute, in such manner as will in tlieir judgment best jn-oiiiote the ad\'ance- 

 ment of the jihysical sciences, either liy arranging foi' the giving of free lectures, on 

 scientific sultjects, in different I'ities and towns of the said Uniteil States, or by pro- 

 viding for original scientific research in the laboratory and otherwise, or by the pub- 

 lication of the re.«ults of original scii-ntilic reseaiches, or by offering, from time to 

 tune, rewards or medals, for meritorious dist-overiet^, or by any or all of these 

 methods,' as in their judgment may seem best. The half ol the gross income thus 

 authorized to be expended annually is to be cumulative, so tiiat the portion of it 

 unexpended during any one year may be expended during any subsequent year or 

 years. ' ' 



