Colby Bicentennial Seal 1813-1863

Aug. 10, 1859

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The Trustees entered into an arrangement with Brown University to raise funds, $300,000 for the two, and “to procure students for said institutions without giving undo bias in favor of either.”

“Not less than one third of the whole amount so raised and paid in is to be for foundations of scholarships, not less than half to be for the benefit of sons of preachers of the gospel, provided there be so many worthy application.”