Colby University

Colby Bicentennial Seal 1864-1913

1864-1866

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Aug. 10, 1864

 Willingness to change the name of the institution

Be it resolved that the Board of Trustees hereby signify their willingness to change the name of the institution so that it shall bear that of any suitable person who may present it with an endowment of at least fifty thousand dollars ($50,000).

September 1865

The subscription of Mr. Colby is upon conditions: 1st, that the interest of his subscription only shall be used for College purposes. 2nd that one half, or $25,000 shall be paid when the subscriptions obtained for the college … shall amount to one hundred thousand dollars exclusive of his subscription and $25,000 when $100,000 is paid on said subscription. 3rd that the President and a majority of the Faculty shall be members in good standing in regular Baptist churches.

From the report of the President, it appears that the sum of $105,444 and 93/100s have been received. This fulfills one of the precedent conditions and entitles the College to one half of Mr. Colby’s subscription.