264 History of Wake Forest College
Board of Trustees in Louisburg in the following October, that all was
Only the debt to the Literary Fund remained and on that the interest
had been kept paid. Hereafter, however, collections were slower,
probably owing to the fact that, as we shall see, there was an agent of
the College in the field asking for subscriptions on endowment.
Major Crenshaw, Wake Forest Student, XXVIII, 305, says: "My father was
very much worried about this debt. The Trustees had agents going around the
country getting subscriptions, but for some years the agents' salaries cut down
everything that they accomplished. Finally George W. Thompson took the field and
collected the entire amount, and burned the bond, which was of twelve years'