89 [ 108 ] 



The cluiJicellor appointed Messrs, Rush and Fitch, who signified their 

 acceptance. 



On motion of Mr. Totten, it was 

 Resolved, That the secretary be added as a member of tlie Building Committee. 



The letters of Messrs. Cameron and Renwick weie then referred to the 

 Building Committee to be reported on at the no. t meetino;. 



On motion, ths Board adjourned to »Saturday^ 2 Ith instant, at 11 o'clock, 

 a. m. 



Washin(;ton, January 24, 1852. 



The Board m.et at 11 o'clock, a. m. Present — Mr. Taney, chancellor; 

 INIessrs. Bache, Colcock, Fitch, Lenox, Meacham, Pearce, Rush and Totten, 

 of the Board ; and Mr. Seatcn, treasurer. 



The Building Connnittee, to whom were referred the letter of Gilbert 

 Cameron, making application for an advance of .^lO.OOO from th(; amount 

 of per centage retained as seciirity for the completion of his contract, and also 

 the letter of James Renwick, jr., architect, reported that they had exam- 

 ined the subject, and requested to submit the follov/ing resolution, which, 

 on motion, was adopted : 



Resolved, That in accordance witli tijc reconimend;Uion of the archrtect, the Executive 

 Committee be authorized to advance to the contractor the sum of $0,000 from the amount 

 retained as security for the completion of his contract. 



The secretary brought before the Board the subject of the disposition of 

 the accrued interest. He stated, that since the last meeting of the Regents 

 he had conferred with Mr. Corcoran on the subject, and had received from 

 him the following proposition, viz : Messrs. Corcoran & Riggs wall give 

 sixften per cent, premium on the stock belonging to the Institution, w^ill 

 allow five per cent, interest on the whole sum, including the premium, until 

 an investment can be made, and make a deposite of governm.ent stocks as 

 security lor the safe keeping of the money. Whereupon — 



Mr. Pearce offered the followiisg resolution, which was adopted: 



Resolved, That the chancellor and secretary be re((uested to sell $180,000 of stock of 

 accrued interest upon the terms stated in the resolution of June 1st, 1850, and to deposite 

 the proceeds of such sale with Corcoran & Riggs tor the purposes, and on the seourity 

 therein mentioned. 



Mr. Fitch offered the following resolution, which was adopted : 



Resolved, That Mr. Pearce be requested to have the memorial relative to the reception 

 wf the accrued interest by Congress taken from the files of the Senate and referred to the 

 Conmiittee of Finance. 



The reading of the secretary's amiual report was then continued, incdud- 

 ing the report from Professor Jewctt, in charge of the Library, giving the 

 details of the operations in this department during the past year. Specimens 

 of titles for catalogues, separately stereotyjied and printed, were laid before 

 the Board. 



Mr. Rush offered the following resolution, which was adopted,: 



Resolved, That a copy of the special report of the secretary be furnished for publication 

 to the National Intelligencer immediately after it shall be sent to Congress. 



The Board then adjourned to meet on Saturday, olst instant, at 10 

 o'clock . 



