XVIII
THE ENDOWMENT, CHARLES E. TAYLOR
We have seen above that the great interest of Professor Charles E.
Taylor in the College and his zeal for increasing the endowment
caused the Trustees in November, 1875, to name him as one of the
agents of the College for that purpose, and that he served as general
agent for all parts of the State and also as special agent to secure
funds for the "Raleigh Chair." In January, 1881, he succeeded
Professor L. R. Mills as Secretary of the Board of Education and for
the next two years he had been diligent in visiting churches and
associations and urging the claims of ministerial education. In these
varied activities he had become known to North Carolina Baptists,
and had won their respect for his extraordinary personality and ability,
and their admiration and confidence. "This was a man." He was
already recognized as such when the Trustees met at Warrenton in
November, 1882.
It was at this meeting that Professor Taylor presented to the Board
his plans for increasing the endowment of the College to $100,000 by
January 1, 1884. The invested funds, including a piece of real estate,
amounted at this time to $53,400; to make up the desired $100,000, an
additional 846,600 was needed. In brief, the plan was this: all
subscriptions to be in cash or to be paid as soon as the entire 846,600
should be subscribed, with the limit of time December 31, 1883. If the
total for new endowment paid in by January 1, 1884, should be less
than that amount all money received on subscriptions made after
November 1, 1882, should, on request, be returned to the donors, and
the subscriptions canceled.
On coming before the Board Professor Taylor already had one
subscription on the terms named. This was for $3,500, later increased
to 85,000, from Mr. Sidney S. Lea of Caswell County, on whose
authorization Professor Taylor presented it to the Board and gained its
acceptance. Whether the plan was due to Mr. Lea or Professor Taylor
is uncertain; possibly they worked
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