1884 Loan Funds

By the terms of the will of Epes J. Calley, of the class of 1884, whose death occurred on May 2, 1928, the 'B4 Loan Fund will eventually receive the major part of his estate. After bequests totaling $8,000, to four beneficiaries, the remainder of the estate is bequeathed to the Northern Trust Company of Chicago,Ill., which becomes executor and trustee. The net income of the trust estate is to be paid to his two brothers, share and share alike, during their lifetime, and to their widows, if any, during the terms of their natural lives. The final distribution of the trust estate is to be made as follows: "At such date as either of my brothers and the wife, if any, who survived him, shall have died, one-half of the principal of my estate shall be given to the trustees of Dartmouth College, of Hanover, N. H., to be added to its Loan Fund es- tablished by the Class of 1884."

Upon the death of the other brother and his surviving wife, if any, the remaining half of the estate accrues to the '84 Loan Fund.

A cursory inspection of the securities and other properties of the estate shows a value above $50,000. The official at the head of the Trust Department of the Northern Trust Co. estimates the probable value of the residuary estate to be between $40,000 and $45,000, which sum, by the terms of the will, shall ultimately accrue to the '84 Loan Fund.

This Fund has been given to the trustees of the College by the class as a memorial of its eminently successful twenty-five year reunion. The sum so given now amounts to more than $10.000. It should be increased to more than $50,000 upon receipt of the Calley bequest.

Under the contract between the class and the trustees, the income of the Fund may be loaned to students on demand notes drawing a low rate of interest from the date of graduation or leaving college. Such loans and the interest thereon when paid shall be added to the principal of the Fund until it amounts to $100,000 when repaid loans and interest, as well as the income of the Fund, shall be available for loans to students.

Mr. Calley, as well as Dr. Honston, the present secretary of the class, was a member of the committee which devised this project and he gave liberally to the foundation. One of the points stressed in the solicitation of contributions to the Fund was that members of the class should provide in their wills for gifts to the Fund. Mr. Calley was greatly interested in this phase of the project, and has proved that interest by his generous gift to the Fund in his will. Particularly to be admired is his self-effacement so that his class should carry the honor of his gift. The members of the class who survive him have a full and deep appreciation of the love and loyalty he showed for his class, as well as the generosity of his gift.

HAROLD C. BULLARD, 1884, FUND

The recent bequest by Helen L. Bullard, the widow of another member of the class, which bears the designation "The Harold C. Bullard, 1884, Fund," the income of which can be used at the discretion of the trustees, also carries in the name the fact of his membership in the class of 1884. This bequest was $242,054.94. For this tactful admission of the class to a share in the credit of the bequest the surviving members likewise have a full appreciation and wish to express it.