260 History of Wake Forest College
In the most of the years from 1891 to 1905, when President Taylor
left the presidency, the endowment was increased by increments to
the invested stock and profits and also by several gifts, some of them
for substantial amounts, so that in 1905 the endowment had increased
to $210,176.93. The "Grand Summary" in the Treasurer's report for
May, 1905, shows in addition the Bostwick Loan Fund, $68,176.31;
Ministerial Education, $8,516.67; Chair of Bible $62.96, making a
grand total of $286,932.87. In reality the cash value of the endowment
was far greater; the Standard Oil stock was paying 35 per cent in
Although President Taylor felt compelled to discontinue his
cherished plans for the endowment, the evidence is abundant that he
did it with much reluctance and with full realization of the evil
consequences on the welfare of the College. On reporting, June 18,
1891, the second offer of Mr. Bostwick to contribute one dollar for
two raised elsewhere it was only the claim of the field for the Female
University that made him desist. For a decade he had been bringing
the Baptists of the State to an interest in the College and to cease then
was to dissipate that interest if not to destroy it and thus lose the
opportunity to make the College what it ought to be.
Something of the general interest among the Baptists of the State in
the College at this time may be seen in the fact that at the meeting of
the Baptist State Convention at Goldsboro, in 1891, the report of the
Trustees to the Convention, prepared by T. H. Pritchard and C.
Durham, declared : "The cooperation and gifts of all Baptist people in
the State must be secured. We must be getting ready for five hundred
students, and must aim to secure them. And in order to do this, we
must press steadily forward in the erection of buildings, the
establishment of new chairs, the improvement of equipment and the
increase of endowment." I add here the outline of the discussion of
this report by President Taylor as found in the Convention minutes for
Heretofore men who have filled the highest positions in this State have been
educated elsewhere, and many of them lost to the Baptist
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