Excerpt from Report of the Librarian of Congress: For the Fiscal Year Ending June 30, 1932 College of Arts and Sciences which constituted the university as originally chartered. There being other questions also as to which the Bankers Trust Company felt dubious - including one as to whether earlier indentures by Mr. Wilbur still had vitality - it was decided to secure a judicial interpretation of the entire instrument. By arrangement with the tax authorities in the State of Vermont a proceeding was instituted in the Chancery Court there (washington County), in the form of a suit by the' State of Vermont against the trust company, to assess transfer taxes against the property. Through the Department of Justice, the Library of Congress Trust Fund Board intervened in this proceeding, being represented by the United States District Attorney and special counsel from the Department. The cause came on for hearing in July, 1932. On September 2 the chancellor rendered a finding of facts which, among other conclu-g sions, upheld the claims of the university (1) that by University of Vermont Mr. Wilbur must have intended only the College of Arts and Sciences, and (2) that as respects that unit the trustees of the university had sufficiently complied with the condition. A decree in accordance with the findings was entered on Septem ber 19, 1932. It provides, of course, that should the university at any future time cease to comply with the condition (which is a con tinning one) the cause may be brought forward by the Trust Fund Board for a further hearing; and it supports without question the particular bequest of the sum of to the Board. That sum plus interest at the rate of per cent per annum from April 28, 1929, but less transfer tax with interest due to the State of Vermont, and certain commissions to the trustee, will therefore be payable to the Board as an endowment for the purpose stated. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.