EXTRACT FROM THE LAWS. 



THE HENBY M. PHILLIPS' PRIZE ESSAY FUND. 



Miss Emily Phillips, of Philadelphia, a sister of Hon. Henry M. Phillips, de- 

 ceased, presented to the American Philosophical Society, held at Philadelphia for 

 Promoting Useful Knowledge, on October 5, 1888, 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, at a stated 

 meeting, held October 5, 1888, accepted the gift and agreed to make suitable rules 

 and regulations 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 at a stated meeting held on the seventh day of December. 

 A.D. 1888. 



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 evi- 

 dences 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. 



(6) 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 Philoso- 

 phy of Jurisprudence, and to the preparation of the certificate to be granted to the 

 author of any successful essay. 



