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resolved, that the amount of the bequest should be invested
in Dominion Stock, or some other safe security, exclusive of premium
and charges, which should be paid out of the balance at
the credit of Theological Scholarships, that the interest which should
accrue from the investments should be applied annually to the
payment of two Scholarships to be named the "Buchan Scholarships,"
one in the Faculty of Theology, and the other in the Faculty of
Arts, and that all matters pertaining to the awarding and holding
of these Scholarships, and the amounts of them, should be referred
to the Senate with power to take such action in reference thereto as
to it may seem meet.

An additional sum of $500 for an open Scholarship
was this year received from the generous friend in New Brunswick
whose benefactions on former occasions have been already mentioned,
but who desired to be unknown as their author was gratefully
acknowledged. His previous donations had enabled the
Senate for some years past to award from $50 to $60 annually
under the name of the "Dominion Scholarship." The amount thus
contributed by him was $1300, and the $1000 which still remained
was set apart to be the foundation of a Scholarship to be known
under the same name as formerly.

Another sum of $1500 was also received from David

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