1862



Dr. Sas'l
Hatch ex-
one rated





Report of
the Commit-
tee on re-
trenchment
and condition-
al acceptance
by the Faculty
of 1st Scheme
proposed.



                    83








one more installemnt Provided the action of the Board in this
case shall not be referred to in future as any precedent for a
change of policy on collecting outstanding claims and that Stock
be issued for the amount paid.
     On a vote, the motion was        by decision of the Chair.
On notion of Col. Kyle the above record was amended by declaring
that the action of the Board was in reality an agreement to com-
pound with an insolvent Donor on his payment of all he could as
fully made known to the Board.
     Prof. White, on behalf of Dr. Hatch Committee in case of
Dr. Hatch appointed at the last annual meeting, reported as the
cause of the disoripancy in the old Bacon College, a slight neg-
lect of form in the Legislature of Dr. Hatch and that this Board
are fully satisfied of the integrity & connection of Dr. Hatch
in all the whole affair & that Prof. White informed Dr. Hatch of the
the action and sentiment of this Board.
     Report received adopted & Committee discharged with these
instructions.
     Ix. Cos. reported as before in substance i follows, that on
the 3d July last they rec'd a letter from the aculty accepting
the Firgt scheme of Retrenchent submitted at the last neeting
of the oard with the following conditions.
     "1. That the sums mentioned in the scheme at least be paid
to them respectively during the ensuing year.
     2. That should the income of the Institution exceed the
above estimate of $9000 such excess shall be likewise paid to the
members of the Faculty in the ratio of the above appointment as
far as such excess may go or be required in order to make their
salaries equal to those assigned to them during the past session.
     3. Should the amounts thus accuring to the Faculty fall short
of those awarded to them as their salaries during the past year
such deficiency of salaries shall be made up and paid to each
Prof. respectively as soon as the income on resources of the Insti-
tution will admit of it-I" and that they assented unanimously to
this arrangement.
Further, that they had elected Prof. Ulrich as principal of the
Preparatory Department at a Salary of 500# with privileges of
Teaching Modern Languages & receiving the fees thereof.
     On motion the Reports was received Pending the discussion of
a notion to adopt, a motion was made to postpone till evening &
carried & the Ex. Cos. instructed to confer with the Faculty.
On motion Board adjourned to meet at 8 this P. M.