South Australian Consolidated Acts South Australian Consolidated Acts
This indenture made the twenty-fourth day of December, one thousand eight
hundred and seventy-two, between Walter Watson Hughes, of Torrens Park, near
Adelaide, in the Province of South Australia, Esquire, of the one part, and
Alexander Hay, of Adelaide, aforesaid, Esquire, Treasurer of the Executive
Council of the University Association of the other part:
Whereas the said Walter Watson Hughes is desirous that a University should be
established in the said Province, to be called "The Adelaide University", and
has agreed to assist in the foundation of such University, by contributing the
sum of Twenty Thousand Pounds in endowing by the income thereof two chairs or
professorships in the said University, one for Classical and Comparative
Philology and Literature, and the other for English Language and Literature
and Mental and Moral Philosophy:
And whereas the said Walter Watson Hughes, his executors or administrators is
or are entitled to nominate and appoint the two first Professors to such
chairs:
And whereas an Association has been formed, and has undertaken to endeavour to
found and establish such University, and has appointed an Executive Council:
And whereas the said Alexander Hay has been appointed Treasurer of the said
Executive Council:
Now this Indenture witnesseth that, in consideration of the premises, the said
Walter Watson Hughes doth hereby for himself, his heirs, executors, and
administrators covenant with the said Alexander Hay, his executors and
administrators, that he, the said Walter Watson Hughes, his executors, or
administrators, shall and will, on or before the expiration of ten years from
the date hereof, pay to the said Alexander Hay, as such Treasurer, or to the
said Executive Council, or if the said University is incorporated within such
period, then to such Corporation the sum of Twenty Thousand Pounds sterling:
And will, in the meantime, pay interest thereon, or on such portion thereof as
may remain unpaid at the rate of Six Pounds per centum per annum, from the
first day of May, one thousand eight hundred and seventy-three, such interest
to be paid by equal quarterly payments:
And it is agreed and declared that the interest and annual income of the said
sum of Twenty Thousand Pounds shall be applied in two equal sums in endowing
the said two chairs with salaries for the two Professors, or occupiers of such
chairs:
And it is hereby also declared and agreed that the said Walter Watson Hughes
has appointed the Reverend Henry Read, M.A., Incumbent of the Church of
England, in the District of Mitcham, to occupy, and that the said Henry Read
shall occupy the first of such chairs as Professor of Classics and Comparative
Philology and Literature:
And that the said Walter Watson Hughes has appointed the Rev. John Davidson,
of Chalmers Church, Adelaide, to occupy, and that the said John Davidson shall
occupy the first of the other such chairs as Professor of English Language and
Literature, and Mental and Moral Philosophy:
And it is hereby agreed and declared that the annual income and interest of
the said sum of Twenty Thousand Pounds shall be applied for the purposes
aforesaid in equal sums quarterly, and for no other purpose whatever:
And it is also declared and agreed that the said sum of Twenty Thousand Pounds
shall be held by the Treasurer of the said University, or by the Corporation
thereof, when the said University shall become incorporated, for the purpose
of paying and applying the annual interest and income thereof equally in
endowing two chairs or professorships in the said University, one of such
chairs or professorships being Classics and Comparative Philology and
Literature, and the other of such chairs or professorships being English
Language and Literature, and Mental and Moral Philosophy:
And it is also declared and agreed that the said sum of Twenty Thousand Pounds
shall, when the same is received by the Treasurer of the said University or by
the University when incorporated, be invested upon South Australian Government
Bonds, Debentures, or Securities, and the interest and annual income arising
from such investments paid and applied quarterly in endowing the said two
chairs or professorships in the said University as aforesaid:
In witness whereof the said parties to these presents have hereunto set their
hands and seals the day and year first above written.
|
Signed, sealed and delivered by the said Walter Watson Hughes, in the presence
of Richard B. Andrews, Solicitor, Adelaide. |
} |
W.W. HUGHES (L.S.) |