Taylor University - Ilium / Gem Yearbook (Upland, IN)

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The Lesdl Hundred PRFS. B. W. AYRn5 SECY., B. R. POGUE TThe Legal Hundred of Taylor University was organized in 1923 as the governing body of this institution. So timely was its advent that the financial difficulties were adjusted and new vigor surged through every department of the college. Quoting from the Legal Hundred Articles of Association, we learn the constitution of this body: The school shall be interdenominational in its service, and a member of any Christian denomination in harmony with the doctrine and policy of the school shall be eligible to a place on its faculty or its board of control subject to the ratio hereinafter defined. Taylor University shall be known as a school maintaining the traditional evangelistic policies of the Methodist Episcopal Church, with its traditional attitude to the Holy Scriptures as the Word of God; its governing body shall consist of this Foundation, known as the Legal Hundred of Taylor University. The Legal Hundred shall own the property and control and direct the policies of the institution, subject to the terms of this charter, with full power to make contracts, sales and purchases, and, as a trust corporation or foundation, to sue and be sued. The members of this organization hold membership for life, or until they resign or are expelled according to the rules of the By-Laws. This plan not only makes for careful and selective choice of members, but has a tendency to stimulate continuity of interest in the institution on the part of those chosen. ; ( U TWENTY-FIVE

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WHEN Dr. John Paul came to Taylor Universiry in the fall of 1922, he came from a very successful administration as Vice-President of Asbury College. Dr. P.iul found our financial situation in bad condition. The first year of his administration was a very trying one to him, the embarrassment of unpaid bills facing him and his business manager day after day. It was about this time that he called to his assistance Mr. E. O. Rice, and together the two began the re-shaping of the school ' s obligations by first declaring a receivership. Within a year ' s time a one hundred thousand dollar bond issue had been floated, obliga- tions to different firms had been settled, and much of the school ' s financial strain placed in the hands of friends. Among those largely responsible for the successful re-shaping of school finance was Mrs. Ella M. Magee whose consecrated gifts totaled over one hundred and fifty thousand dollars. The next stage in Dr. Paul ' s plan for the financial development of Taylor Univer- sity came in the organization of the Legal Hundred in September, 1923. The Legal Hundred has proved a very great steadying force in the financial life of the institution and many business men have declared it a unique organization. Dr. Paul next proposed that the College begin a campaign for one million dollars endowment, the first unit of five hundred thousand dollars to be completed by January 1st, 1928. The response to this Goal Endowment was very gratifying and at the October meeting of the Legal Hundred in 1927 the President announced the completion of the first unit and the starting of the second, which he has been pleased to call The Bishop Taylor or Service Endowment; and some seventy thousand dollars have to date come to that fund. Within this school year Dr. Paul suggested that The Legal Hundred establish large banking interests with some strong financial corporation, this institution to become trustee to the school. At this date plans for this trusteeship have developed most satisfactorily. The Peoples State Bank of Indianapolis has taken over the collection of the school ' s pledges, has authorized and completed the establishment of a budget system, and by September plans to float a two hundred and fifty thousand dollar bond issue, thus enabling the institution to go on a cash basis. The plan has won the full support of the Board of Directors of the Legal Hundred and is being looked forward to by everyone as the most helpful bit of college financing Taylor has experienced in years. There are not enough letters in the name Paul to spell progress, but there is enough genius and energy put into the long hours this President sits behind his desk, day after day and week after week, to spell anything and do anything; and it all is progress. --V ( TWENTY-FOUR

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THE DOMESTIC SCIENCE DEPARTMENT THE era of the special endowment program for Taylor University began in the early spring of 1927. At that time there were endowment values between two and three hundred thousand dollars. While there was considerable indebtedness to coun- teract the value of this endowment, the president assigned the indebtedness mainly to the new building worth a quarter of a million dollars, the product of which would otfset the interest on the indebtedness and look toward its liquidation. With the case thus stated to the Legal Hundred and the Alumni Association, the Goal Endowment was launched as a special movement. It was called the Goal Endow- ment because of its aim to secure five hundred thousand dollars of endowment which is now the minimum standard requirement. The Goal Endowment reached its highest tide of enthusiasm at the 1927 com- mencement. Many of the guests made liberal subscriptions. The enthusiasm was so contagious on the morning of the graduation exercises that even the commencement speaker. Dr. H. C. Morrison, permitted the announcement of a liberal gift from him. The Goal Endowment program continued under this name until the fall meeting of the Legal Hundred, October 26. At that time it still fell thirty or forty thousand dollars short of the goal, but the Legal Hundred designated enough of its sustentation pledges to declare the first five hundred thousand dollars completed. tiv ' 4? ' ' W- ' TWENTY-SK