APPENDICES 367 



active friendship has taken the form which was most acceptable to me that of an endow- 

 ment to assist research in my own branch of science; so that I can feel that in a certain 

 sense my power to work will not terminate with my life. As the generosity of my friends 

 permits me also to dispose of the manner in which the endowment shall be administered, I 

 submit to them, through you, the plan which seems to me best adapted to carry out their 

 wishes a plan which has been fully tested in somewhat similar cases and found to work 

 well in practice. 



I therefore propose that the fund raised for endowment shall be given to the National 

 Academy of Sciences, to hold the same in trust and to invest and reinvest as may be 

 necessary or advisable. The income or interest of the fund shall be administered by a board 

 of directors consisting of three persons, of whom at least two shall be members of the 

 academy. The first board shall consist of Charles Loring Jackson, Thomas M. Drown, 

 and Ira Remsen, and the directors shall have power to fill vacancies in their own number, 

 notifying the academy of their action without delay. In case of the deaths of all the mem- 

 bers of the board, their places shall be filled by persons holding professorships of chemistry, 

 to be appointed by a vote of the academy. The directors shall make an annual report to the 

 academy, stating the condition of the fund and the appropriations made during the year. 

 They shall have absolute and entire control of the disposition of the income of the fund, 

 employing it in such manner as they may deem for the best interest of chemical science. 



It is my belief that the above or a similar arrangement is the best which can be made 

 that is to say, the one which is most likely to be of permanent benefit to science. I trust that 

 it will meet with the approbation of those who have honored me with their confidence and 

 their regard. 



Sincerely, yours, WOLCOTT GIBBS. 



NEWPORT, March i, 1892. 



THE BENJAMIN APTHORP GOULD FUND 



Know all men by these presents that I Alice Bache Gould of the City of Boston and 

 County of Suffolk, State of Massachusetts, in consideration of the acceptance of the within 

 Trust by the National Academy of Sciences and also in consideration of divers other good 

 and valuable considerations have given granted assigned transferred and set over and by 

 these presents do give grant assign transfer and set over unto the said National Academy of 

 Sciences and its successors forever a certain fund or sum of twenty thousand (20,000) 

 dollars with the interest and income thereof to have and to hold the same in trust neverthe- 

 less upon the special trusts and for the uses and purposes following, to wit: 



First. In trust, to invest and reinvest the said sum of twenty thousand dollars 

 ($20,000.) and to keep the same invested under the ordinary rules governing trustees in good 

 and safe securities in such manner as shall be deemed best for the preservation and main- 

 tenance of such fund, which shall be known as the "Benjamin Apthorp Gould Fund," in 

 memory of my father, the late Benjamin Apthorp Gould, of Cambridge, Massachusetts. 



Second. In trust to use the net interest and income thereof according to and under the 

 direction of Lewis Boss of Albany New York Seth C. Chandler of Cambridge Massachusetts 

 and Asaph Hall of Washington D. C. whom I hereby constitute a Board of Directors for the 

 application of the income of the said Benjamin Apthorp Gould Fund, for the prosecution of 

 researches in astronomy, by assisting such observers and investigators in such manner and in 

 such sums as shall be agreed upon by the three above-mentioned persons or their successors 

 or by a majority of the then Board. 



The Board of Directors however instead of expending all the income of the Fund for 

 the purposes aforesaid may from time to time vote that such portions thereof as they may 

 prescribe shall be added to the principal of the said Fund, and such portion shall then be so 

 added by the Trustees and all such sums once so added shall remain part of the principal. 



