The Town of Wake Forest 187
When the Trustees met on February 4, 1839, they showed that they
were beginning to realize the seriousness of the financial condition of
the College. First, they wanted to know just what that condition was,
and appointed a committee to take an inventory of the College
When the Board met again, on June 17, 1839, the committee failed
to report, and a new committee consisting of Dockery, Thompson and
Wynne was appointed, and the next day "reported verbally." The
Board wanted something more exact, and Battle, and Barnett were
appointed a committee to ascertain as near as practicable the amount
owed by the Board, and its resources, and to report as early as
possible. The same committee with the addition of D. S. Williams
was asked to take into consideration and report on the measures to
meet the debt, while Fort and Wynne were asked to make the
inventory. From this time on the Board showed a disposition to keep a
closer and closer check on the financial affairs of the College. Now
for the first time an audit was made of the Treasurer's account.
Hereafter audits were made of the accounts regularly of all who
handled the fund of the College, at first by a special committee, but
later by a regular auditor. Before the close of the period the Treasurer
was required to have his annual report printed and ready to put in the
hands of the Trustees at their meeting at
records of the Board for these years reveal the fact that the Trustees
had in their number men of excellent business capacity.
There were four sources from which the Trustees derived aid in
helping them to tide over the financial stringency of the first
The names of the following are not in the list of those who are recorded as having
attended a meeting: A. H. Davis, J. Dennis, J. Fooshee, J. C. Gorman, J.. Halsey, G.
W. Hufham, P. P. Lawrence, A. Moseley, J. B. Outlaw, Wm. Roles, R. Sanders, J.
Watkins, T. B. Carraway, S. S. Lee, H. E. Royall, Wm. Royall of Caswell, H. Bond,
W. A. Graham, J. F. Jordan, Aaron Emerson, B. D.
N. E. Cannady, T. C.
Garrison, A. J. Hinton, J. C. Rogers, J. S. Taylor, R. Felton, A. Chambers, John
Berry, E. G. Reade, S. S. Satchwell.
Proceedings, p. 42. This Committee consisted of Crenshaw, Fort, and Wynne.
Proceedings, p. 120, June 8, 1859.