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SCIENCE 



[N. S. Vol. XLVI. No. 1190 



ture, render this disposal of the proceeds 

 inadvisable. 



In conclusion, although the plan incor- 

 porated in this agreement is applicable to 

 any and all completely developed patent- 

 able discoveries which may be made by the 

 employees of learned institutions, the board 

 of directors herein created confines its func- 

 tions to the administration of medical re- 

 search. It was felt that it would be impos- 

 sible to choose a board commanding the 

 confidence of investigators in all the various 

 fields of scientific research without making 

 up the personnel by ex-ofiicio appointments, 

 as the dean of this or the professor of that 

 particular college or subject, and thus in- 

 troducing the very atmosphere of bureau- 

 cracy and officialism which it was sought to 

 avoid. In event of this precedent being at 

 all extensively copied it will obviously be 

 necessary, for universities at all events, to 

 establish three or four separate founda- 

 tions and a like number of boards of scien- 

 tific directors. 



The text of the agreement follows : 



T. Brailsford Kobertson 



This Indenture, made this 7tli day of Septem- 

 ber, 1917, between T. B. Eobertson, the party of 

 the first part, and The Regents of the Univer- 

 sity OF California, a corporation, the party of the 

 second part, 



WITNESSETH : 



Whereas the party of the first part is the dis- 

 coverer of a medical preparation named Tethelin, 

 covered by United States and British patents, and 

 is the owner of such preparation and of such 

 patents and of the trade-name ' ' Tethelin, ' ' 



Novs', Therefore, It Is Agreed as Follows: 



The party of the first part hereby conveys and 

 grants to the party of the second part the said 

 preparation, patents and trade-name, and all his 

 rights as the discoverer of said preparation and the 

 owner thereof and of said patents and trade-name, 

 upon the following trust, to wit: 



(o) To utilize the rights hereby granted in such 

 a manner as in the judgment of the party of the 



second part will best produce a monetary return 

 therefrom and at the same time render the use of 

 such preparation most generally available for the 

 benefit of the human race. The party of the sec- 

 ond part shall have the right to sell or dispose in 

 any other manner of said rights or any of them, in 

 whole or in part, or to grant subsidiary rights and 

 privileges thereunder, either upon royalties or other- 

 wise. The party of the second part agrees that it 

 will use all reasonable diligence to utilize said 

 rights as aforesaid, but it is particularly agreed, 

 and the party of the second part accepts said trust 

 only upon the condition, that it shall be the sole 

 judge as to what is reasonable diligence in the re- 

 spect mentioned, and that it shall not be pecuniarily 

 or legally responsible for any want of diligence in 

 such respect unless the same be in bad faith or the 

 equivalent of bad faith, and that in view of the 

 fact that the party of the second part is a public 

 eleemosynary corporation all of whose funds are 

 held upon other trusts, the party of the second 

 part shall not be pecuniarily or legally liable under 

 any circumstances whatsoever except to the extent 

 of such rights or the proceeds, profits or returns 

 thereof at the time of recovery against it in the 

 hands of the party of the second part: 



(6) To apply any proceeds, profits or returns 

 from the utilization of said rights, after paying 

 the expenses of the party of the second part in 

 connection with the trust, to the reimbursement of 

 the party of the first part in the sum of one thou- 

 sand dollars ($1,000) for expenses incurred by 

 him in making such discovery of such preparation, 

 and, in case of his disability, to the payment to him 

 thereafter for his life of the sum of five thousand 

 dollars ($5,000) annually, and in case of his death 

 to the payment of a like amount to his wife for her 

 life, and in case of the death of both himself and 

 his wife leaving a minor child or children, to the 

 payment of a like amount to such child or children 

 until such child or the youngest of such children 

 shall have reached majority: provided, however, 

 that such annuities shall each year be payable only 

 out of such proceeds, profits or returns as may 

 come in during that year and any balance on hand 

 at the beginning of the year unexpended and unap- 

 propriated for the purposes mentioned in the fol- 

 lowing subdivision (subdivision c) : 



(o) To apply any unexpended balance of such 

 proceeds, profits or returns to research work in 

 medicine and preferably in the physiology, chemis- 

 istry and pathology of growth either under the aus- 

 pices of the University of California or otherwise, 

 it being the wish of the party of the first part, but 



