OF MONEY

GIVEN FOR THE
INSTITUTION

OF PRIZES.

or the executors or administrators of the last surviving trustee or continuing trustee for the time being, shall forthwith with all convenient speed, by some deed or deeds, instrument or instruments, in writing, sealed and delivered by them or him in the presence of, and attested by, two or more credible witnesses, from time to time nominate, substitute, or appoint some one or more person or persons (to be selected out of the trustees of the general funds of the said [name of the institution], and to be approved of by the said President and Governors) to be a trustee or trustees in the stead or place of the trustee or trustees so dying, or becoming desirous of being discharged, or refusing, or declining, or becoming incapable to act as aforesaid, and that when and so often as any new trustee or trustees shall be nominated and appointed as aforesaid the said sum of £37. per cent. Bank Annuities shall, with all convenient speed, be transferred into the names of the surviving or continuing trustee or trustees, and such new or other trustee or trustees, or if there shall be no surviving or continuing trustees or trustee, then of such new trustees or trustee only, upon the trusts hereinbefore declared: PROVIDED ALWAYS, and it is hereby agreed and declared between and by the parties to these presents, and their intent is, that as soon as any two of them the said C. D., E. F., G. H., and I. K., or of other the trustees for the time being of the said trust fund, shall die, or be desirous of being discharged of and from, or refuse, decline, or become incapable to act in the trusts or powers hereby in them reposed or to them given, then and immediately thereupon two new trustees shall, by virtue of the power aforesaid, be substituted, nominated, and appointed, in the place or stead of the trustees so dying, or being desirous of being discharged, or refusing, declining, or becoming incapable to act as aforesaid,' and that the power hereinbefore given to one surviving or continuing trustee, his executors or administrators, is only intended to be exercised in case any previous neglect or omission, or any accidental circumstances, shall render the exercise of the same absolutely necessary: [Usual declar- Usual trustee ations that new trustees shall have the same powers as the

Number of

trustees not to

be permanently reduced below

two.

clauses.

OF MONEY

GIVEN FOR THE

INSTITUTION

OF PRIZES.

Witnesseth,

further, regula

tions as to awarding the prizes.

66

old, shall be chargeable and answerable only for their own acts
and defaults, and not for the acts or defaults of the others,
except the same shall happen by or through their own
wilful default respectively; and an omission or neglect to ap-
point a new trustee immediately upon a vacancy shall not be
deemed a wilful default;" see supra, pp. 325, 326 (e)]. AND
THIS INDENTURE ALSO WITNESSETH, that, for
further effectuating the said desire of the said A. B., and in
consideration of the premises, it is hereby agreed and de-
clared between and by the parties to these presents, THAT, at
some convenient time in the present
present and every future year,
two subjects shall be selected by the judges hereinafter named
for that purpose, and shall, in such manner as the said Pre-
sident and Governors shall deem expedient, be publicly
proposed to the students for the time being of the said [in-
stitution], who shall be of years' standing and upwards
in the said school, in order that such of the said students as
may think fit so to do may compose and write essays on the
said subjects, or either of them; THAT the time at which
such subjects as aforesaid shall be publicly proposed as afore-
said shall precede the then next annual meeting of the said
President and Governors by at least
THAT Such of the said students of
upwards as shall have composed and written essays, or an
essay, on the subjects aforesaid, or either of them, shall,
within a certain time, (to be specified by the persons to be
hereinafter named as judges, and to be publicly notified at
the time and in the manner in which the said subjects shall
be proposed), send such essay or essays to the President and
Governors of the said school, each such essay to be distin-
guished by a motto to be thereupon indorsed or written;
THAT every such essay shall be accompanied with a sealed
envelope, on which shall be written the motto used to dis-
tinguish the essay, and which shall contain inclosed the
name of the author of the essay; THAT the judges here-
inafter named shall duly examine and consider the se-
veral essays which shall be so sent as aforesaid, and shall

calendar months; years' standing and

(e) The payment of the trustees' expenses is provided for in the principal trust.

determine which one of the said essays on each subject pro-
posed is the best and most deserving of reward; THAT, as
soon as the best essays are so determined, the accompanying
envelopes, distinguished by the same mottoes respectively,
shall be opened by the said judges, and the name or names
of the author or respective authors be examined; and in
case he or they shall be found to be such a student or stu-
dents as, under the regulations herein contained, or under
any regulations to be made by virtue of any power or au-
thority herein given, shall be duly qualified to send in
essays, then the prizes hereinafter provided shall be awarded
to such student or students, and the said trustees for the
time being of the said sum of £, 31. per cent.
Bank Annuities, shall pay to the said student or stu-
dents the clear residue which shall have accrued due
since the then last distribution of the said prizes, of the
dividends and annual proceeds of the same annuities, if
more than one such student, in equal shares, or in such
other shares as the said judges shall direct; THAT if the
said judges shall so think fit, they may direct the said clear
residue to be laid out in the purchase of such books as they
shall think fit, and that the said books shall be given to the
said student or students instead of the money to which he
or they may have become entitled under such award as
aforesaid; THAT the said prize or prizes shall be awarded in
every year before the general annual meeting for that year
of the said President and Governors, and at each such next
succeeding annual meeting the said President, or his locum
tenens, shall publicly declare the name or names of the suc
cessful candidate or candidates, and the amount of money,
or the book or books, awarded to him or them; THAT the
prize or prizes so declared shall be paid or given to the
student or students entitled thereto, at, or as soon as conve-
niently may be after, such annual meeting; THAT in case
the author or authors of the best essay or essays shall be
found to be not duly qualified to compete for the prize,
then the said judges shall award the prize to such other
essay as shall have been sent in as aforesaid by a person
duly qualified to be a candidate, as the said judges shall
consider to be next in merit; THAT in case in any year the

OF MONEY GIVEN FOR THE INSTITUTION

OF PRIZES.

OF MONEY

GIVEN FOR THE

INSTITUTION

OF PRIZES.

Witnesseth,

further, regula

tions as to awarding the prizes.

old, shall be chargeable and answerable only for their own acts
and defaults, and not for the acts or defaults of the others,
except the same shall happen by or through their own
wilful default respectively; and an omission or neglect to ap-
point a new trustee immediately upon a vacancy shall not be
deemed a wilful default;" see supra, pp. 325, 326 (e)]. AND
THIS INDENTURE ALSO WITNESSETH, that, for
further effectuating the said desire of the said A. B., and in
consideration of the premises, it is hereby agreed and de-
clared between and by the parties to these presents, THAT, at
some convenient time in the present and every future year,
two subjects shall be selected by the judges hereinafter named
for that purpose, and shall, in such manner as the said Pre-
sident and Governors shall deem expedient, be publicly
proposed to the students for the time being of the said [in-
stitution], who shall be of years' standing and upwards
in the said school, in order that such of the said students as
may think fit so to do may compose and write essays on the
said subjects, or either of them; THAT the time at which
such subjects as aforesaid shall be publicly proposed as afore-
said shall precede the then next annual meeting of the said
President and Governors by at least
THAT such of the said students of -
upwards as shall have composed and written essays, or an
essay, on the subjects aforesaid, or either of them, shall,
within a certain time, (to be specified by the persons to be
hereinafter named as judges, and to be publicly notified at
the time and in the manner in which the said subjects shall
be proposed), send such essay or essays to the President and
Governors of the said school, each such essay to be distin-
guished by a motto to be thereupon indorsed or written;
THAT every such essay shall be accompanied with a sealed.
envelope, on which shall be written the motto used to dis-
tinguish the essay, and which shall contain inclosed the
name of the author of the essay; THAT the judges here-
inafter named shall duly examine and consider the se-
veral essays which shall be so sent as aforesaid, and shall

calendar months; years' standing and

(e) The payment of the trustees' expenses is provided for in the principal trust.

determine which one of the said essays on each subject pro-
posed is the best and most deserving of reward; THAT, as
soon as the best essays are so determined, the accompanying
envelopes, distinguished by the same mottoes respectively,
shall be opened by the said judges, and the name or names
of the author or respective authors be examined; and in
case he or they shall be found to be such a student or stu-
dents as, under the regulations herein contained, or under
any regulations to be made by virtue of any power or au-
thority herein given, shall be duly qualified to send in
essays, then the prizes hereinafter provided shall be awarded
to such student or students, and the said trustees for the
time being of the said sum of £—, 31. per cent.
Bank Annuities, shall pay to the said student or stu-
dents the clear residue which shall have accrued due
since the then last distribution of the said prizes, of the
dividends and annual proceeds of the same annuities, if
more than one such student, in equal shares, or in such
other shares as the said judges shall direct; THAT if the
said judges shall so think fit, they may direct the said clear
residue to be laid out in the purchase of such books as they
shall think fit, and that the said books shall be given to the
said student or students instead of the money to which he
or they may have become entitled under such award as
aforesaid; THAT the said prize or prizes shall be awarded in
every year before the general annual meeting for that year
of the said President and Governors, and at each such next
succeeding annual meeting the said President, or his locum
tenens, shall publicly declare the name or names of the suc
cessful candidate or candidates, and the amount of money,
or the book or books, awarded to him or them; THAT the
prize or prizes so declared shall be paid or given to the
student or students entitled thereto, at, or as soon as conve-
niently may be after, such annual meeting; THAT in case
the author or authors of the best essay or essays shall be
found to be not duly qualified to compete for the prize,
then the said judges shall award the prize to such other
essay as shall have been sent in as aforesaid by a person
duly qualified to be a candidate, as the said judges shall
consider to be next in merit; THAT in case in any year the

OF MONEY GIVEN FOR THE INSTITUTION

OF PRIZES.