188 History of Wake Forest College
years of the College. These were: (1) the sale the lands of the College;
(2) the State of North Carolina, which through the Literary Fund
provided the College with a loan of ten thousand dollars; (3) the
bequests of certain friends of the College; (4) the Baptists of the State,
to whom the agents of the College were making constant appeals
during these years. It will be my purpose to show what was realized
from each of these sources.
Coincident with the plan to abandon the manual labor feature and
change the Institute into a College was the design to sell so much of
its lands as were not needed for its purposes. The first action taken by
the Trustees for this end was at a meeting in June, 1838, when a
resolution was passed appointing Wait, Meredith and Justice a
committee to "inquire into the expediency of laying off a town at the
At the next meeting of the Board, in November, 1838, the above
named committee through its chairman, President Wait, reported,
recommending the sale of lots, and a resolution was passed:
"That a portion of the land at the Wake Forest Institute be sold in
suitable lots for family residences and other necessary purposes on
condition that no gambling house, no house or shops where spirits
shall be kept for sale, or any other nuisance shall be put thereon, and
that a good building be put thereon and inhabited in two years from
date of sale." A committee consisting of Meredith, Sanders, and
William Crenshaw was appointed to lay off the lots; at a later meeting
Samuel Wait and J. B. White were substituted for Crenshaw and
Sanders on this committee. At the same time the committee was
instructed to make the lots one acre in size, and for them the price was
fixed at $100 each, but it was later agreed that the price of those on
the west side of Main Street should be $150. This committee did its
work with dispatch. It had the survey made and had a map of the lots
ready to present at the meeting of the Board on February 4, 1839
copy of this map is presented
9 Proceedings, pp. 30, 34, 42.
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