226 History of Wake Forest College
pay arrears on the salaries of the faculty from funds contributed for
endowment or improvement.4 Against this, a year later came a strong
protest from Rev. C. Durham,5 and afterwards until this day there
seems to have been no invasion of the endowment.
At the commencement in June, 1876, the Board of Trustees
instituted a new plan, the endowment of professorship. This plan was
probably due to Professor Charles E. Taylor; at the meeting of the
Board in Shelby in November, 1875, Taylor had been asked to serve
as agent to solicit students, not funds, but later the executive
committee meeting in Raleigh had requested him as well as Purefoy
to act as agents of the College and solicit funds for the
endowment.6
At first the number of chairs contemplated was six, each to be
endowed with a fund of $20,000.7
One of these was to be called the "Raleigh Chair," and the en-
dowment for it was to be raised from the churches in Raleigh and
those of the Central Association, and to Professor Charles E. Taylor
was assigned the work of raising it. Another called the "Chowan
Chair" and was to be endowed by collections in the Chowan
Association, by Rev. R. R. Overby as chief agent; and another to be
called the "Wait Chair" was to be raised in the churches of the Flat
River, Mt. Zion, Tar River, and Beulah Associations by Rev. J. S.
Purefoy. In the campaign of 1873 Wingate had reserved Raleigh and
the Central Association for the final roundup, but, as we have seen,
this plan was interfered with by the great financial panic of
September, 1873, and this territory had not been canvassed at all,
causing the dissatisfaction already mentioned among the other
Baptists of the State, which it was hoped would be removed by the
present canvass. As Wait had labored so long at Oxford Female
College and in the churches of the Associations named it was hoped
that the desire to honor him would make it easy to raise from them the
endowment
―――――――
4 Proceedings, 178, 186.
5
Biblical Recorder, July 6, 1876. Suggestion No. 10: "Let the Board of Trustees
be positively prohibited from the use of the endowment fund (except the interest)
for any object forever."
6 Proceedings, p. 189.
7
Biblical Recorder, November 22, 1876.
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