9 [ 23 ] 



direct, hnt so that the payments to the contractor in each of the first four 

 years of the contract should not exceed an annual amount of ,*;41, 000; and 

 so that the wings and connecting ranges should be completed in two yearf 

 from the date of the contract. Fifteen per cent, on the architect's estimates 

 is kept back until the completion of the building; but interest is to be ulti- 

 mately paid on this per-centage, calculated from the dates of the several 

 estimates. 



On the suggestion of one of the Regents, not a member of the committee, 

 and of the Secretary of the institution, a supplement ^vas appended to the 

 contract, by which it was stipulated, that if the Board of Regents should 

 hereafter determine to make important alterations in the plan of building, 

 or in the time of its execution, then the contractor was to be paid pro rata, 

 according to the prices in the contract, for work executed, and reasonable 

 damages, if the nature of the case should justly demand it. In case of 

 dispute as to the amount, the matter to be referred to the architect of the 

 institution, or any other architect selected by the committee. 



The contractors gave as security for the faithful performance of the con- 

 tract, W. H. Winter, of Washington, and Horace Butler, of New York. 

 The security was approved by the committee; and a bond, with a penalty 

 of fifty two thousand dollars (being one-fourth of the amount uf the entire 

 contract) was executed accordingly. 



The corner-stone of the building was laid on the 1st of May. The de- 

 tails of the ceremonies upon that occasion, including the address delivered, 

 in accordance with an invitation from the committee by the Chancellor, 

 and which ceremonies were witnessed by six or seven thousand persons, 

 will be found at large on the journal of the committee. 



The contractors proceeded for some time with the work in partnership; 

 but on the 1st of June Mr. Dixon informed the board that the work would 

 thereafter be conducted by Mr. Cameron alone; and since that time, it has 

 been entirely managed by that gentleman. 



Mr. Cameron has since proceeded in the work with spirit, and has 

 executed it, upon the whole, in a manner satisfactory to the committee. 

 Occasional departures from the letter of the contract have been pointed out 

 to him, and he has promptly remedied whatever was complained of. He 

 is now covering in the east connecting range, and hopes still to coyer in 

 the east wing, also, before he shall be arrested by frost; though he has been 

 very much retarded in his operations, and has suffered some pecuniary 

 loss by the breakage in the canal, caused by the late freshets. Since the 

 7th of October, when the first damage was done, until nowj the canal has 

 been closed, and not a perch of stone has been received. In another week 

 or fortnight there is a fair prospect that the damage may be repaired, and 

 water let into the canal. But for this accident, the contractor would alrea- 

 dy ha\'e covered in the east wing of the building. He has now some 

 twelve or fifteen thousand feet of stone lying ready quarried, and awaiting 

 the re-opening of the canal. 



The chairman of the committee recently visited the quarry and found 

 the stone that had been quarried of excellent quality and color, the tint 

 somewhat lighter than the average tint of the present building. It quarries 

 with remarkable facility, and the supply is unlimited. 



The contractor has commenced to lay the foundations of the west wing 

 and west connecting range, but nothing whatever has yet been done 

 towards the erection of the main building. 



