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Memorandum from Chancellor Caldwell: Re: Chancellor Harrelson's Will

 

OFFICE OF THE CHANCELLOR
NORTH CAROLINA STATE COLLEGE

18 July 1961

To: All Dean, Directors, Department Heads
Subject: Harrelson Fund

The Will of the late Chancellor John W. Harrelson included the following paragraph:
"Upon the death of the last surviving person named in paragraph 3 (2) all property, securities, bonds and monies belonging to my estate shall go to the North Carolina State College Foundation, Inc., with the following restrictions:

  1. No financial commitment shall be made against the principal.
  2. One-fifth the annual income shall be added to the principal and properly invested.
  3. Four-fifths of the income may be used for the following at North Carolina State College: Lectures (first claim); books; works of art; appropriate markers for buildings named for persons."

Chancellor Harrelson before his death had also made the following statements:
  "I hope my modest estate can be used in two areas that have long been neglected at State College; 
  1. Toward securing outstanding mathematical works for the library and distinguished scholars for visiting lectures, such as the Weil and McNair Lectures at Chapel Hill.
  2. Possibly toward securing some paintings for certain areas of the campus, such as the library and the College Union."
I have had the helpful advice of a Committee chaired by Professor W. N. Hicks on the administration of these resources, as well as consultation with other officers of the College. These suggestions are now pooled and modified in the following decisions.
         
  1. The Harrelson Funds available annually shall be used to maintain the John W. Harrelson Lectures and Acquisitions.
  2. The John W. Harrelson Lectureship and Acquisitions are hereby established and shall be administered by a standing committee of five persons appointed by the Chancellor with the chairman designated by the Chancellor. This committee is expected to utilize subcommittees on acquisitions.
  3. The Lectureship shall annually consist of two to four lectures by one individual given during a week or ten-day period during the regular academic year. No restrictions are placed on the subject-matter area of the lectures or lecturer. The committee may decide whether or not and in what form to publish each series.
  4. Acquisitions shall include books, works of art, and markers for buildings named for persons.
  5. The division of Harrelson Funds between the Lectureship and Acquisitions shall be decided by the committee each year subject to the approval of the Chancellor.
  6. The treasurer will keep the committee accurately and currently informed of the funds available for expenditure.
  7. The first lectures will be given the academic year 1961-62.

                                                                                       John T. Caldwell