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to the fulfillment of this pledge. The difficulties
and discouragements have been many, and at times it seemed
that the strain was greater than i could bear. Last
Summer I planned a trip to Europe and paid part of the
passage money, but when I realized that a three months
absence meant a years delay at least in the completion of
the Building I abandoned the trip thereby forfeiting
part of the small sum I had paid, and spent the entire
vacation in earnest prosecution of the work.

The estimate on the cost of the Building by the
architect, (Mr. C. W. Barrett (whom I desire to commend for
his excellent service and liberal treatment) was $22000°°
and certainly no contractor would have built it for less.
We have erected it with considerably less than this amount,
not by sacrificing excellence in the interest of economy
for we have spent $4000°° for purely ornamental purposes,
using the best material and paying good prices for
skilled labor; but we have employed good business methods.

This result has been made possible by Dr. J. A. Gorrell
the Treasurer and active member of our Committee, who with
rare business judgment and tireless energy, has given his
personal attention to every detail of the construction.

During these three years I have carried my regular work
in the college, with the exception of one term of five
months when I was in the field making ana ctive canvass.
Then a special assistant was employed to teach Latin. The
salary paid this assistant I have returned to the Bursar
from my collections, so that this Building has been
completed without the cost of a dollar to the College
Treasury.

Incidentally while on my canvass I visited Bladenboro
and secured from the Bridger Bros $1000 for the Infirmary,
intending at the time to rais the money for and press
the erection of both buildings at the same time, which
I could have done easily. Before undertaking this work
I asked to be appointed on the Building Committee, and also
claimed the right to name a majority of the committee in
sympathy with my ideas, This seemingly indefensible
act of mine has, I think, been justified by the result.
For fifteen years it has been my ambition to serve on a
Building Committee at Wake Forest. This ambition has at
last been gratified and I am content.

Witn a sense of profound gratitude for this opportunity
to render a special service to the Old College whose
interests I have sought with singleness of purpose to
serve for eighteen years I beg to remain.
Sincerely,
J. B. CARLYLE."

On motion it was ordered that the report be accepted
and placed upon the minutes of the Board of Trustees,
and that the thanks of the Board be extended Prof.
Carlyle, Dr Gorrell and members of Building Committee.
--o--

Moved that the Treasurer pay to Prof. J. B. Carlyle
such amount as he forfeited in failing to go to Europe
after buying his passage, to remain here to work for the
Alumni Building. The amount is stated as small
--o--

The Treasurer distributes his and the Bursar's Annual
Report and explains such items as are asked about. The
summary of the report is as follows:

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