The Endowment of E.W. Grove High School ~ 1905

From STEPHANIE TAYLOE

Interesting old papers are discovered every week in the Henry County Archival Records Room at the Central Community Service Center, 55 Jones Bend Road Extended in Paris.
These old records do not belong to one person, or one family, but to every one in Henry County.
Last week this 1907 contract between E.W. Grove and
the people of Henry County for a new high school was found.

I, E.W. Grove of the city of St. Louis and the State of
Missouri, desiring to give substantial aid, and encouragementto the cause of education, and especially to promote the educational interest of the County of Henry, in the State of Tennessee, among whose people I formally lived, and to whom I am greatly attached, do hereby submit to said Henry County, the proposition following, to-wit:

1st - If said County, or said County in conjunction with the
City of Paris,will, through its lawfully constituted
authorities, appropriate a sum of money not less than forty thousand dollars ($40,000) the wholeof which sum is to be used and expended in the purchase of grounds, and the erection of a building, or buildings, suitable for a high
school and for equipping same: said school to be a Free County High School, - that is, free of tuition for all time to the children of Bona-fide residents of Henry County, Tennessee, and free to Bona-fide resident teachers of said county.

And when said appropriation shall have been made for the purposes aforesaid, I the said E.W. Grove, obligate and bind myself, personal representatives, heirs and assigns, to provide a perpetual endowment for said school to an amount not less that fifty thousand ($50,000) dollars, the same to be placed in the hands of a Board of Trustees hereinafter provided for and to be known as the "Henry County Board of Trust, " for the perpetual maintenance and operation of said high school; subject, however to the conditions hereinafter set forth.

2nd - That so soon as the aforesaid forty thousand dollars
is appropriated and made available for the purposes mentioned, I, the said E.W. Grove, agree and bind myself, heirs, assigns, and personal representatives, to execute my bond, note or other such obligation as may be hereafter agreed upon between said Board of Trust and myself, for the aforesaid amount of fifty thousand dollars;

The same to be deposited with the said Board of Trust,
which shall consist of not less than seven members to be
elected by Quarterly Court of said County, by and with
the advice and consent of the said E.W. Grove, which said
Board of Trust shall have the absolute and entire control
and management of said endowment fund and the income
or interest arising therefrom.

And I, the said E.W. Grove, further bind myself, heirs,
and personal representatives and assigns, to pay on said
endowment fund an annual income or annuity of four
thousand ($4,000) dollars per annum, payable quarterly
to said Board of Trust, or so much thereof per annum,
as necessary for the sole purpose of maintaining and
operating said school, repairing and keeping in repair
the said property, paying the insurance thereon, etc. so
long as buildings such as are originally erected on said
school grounds are mentioned, but in no event to exceed
the sum of four thousand dollars per annum.

And I, the said E.W. Grove, further bind and obligate
myself, heirs, assigns, and personal representatives, to
make such endowment fund absolutely secure, together with the aforesaid income on annuity thereon, so as to be available for the purposes aforesaid, by depositing with the said Board of Trust "Gilt edge" collaterals, the same to be approved by the said board;

But it is understood and agreed that the said Grove, his heirs, assigns, and personal representatives, shall be allowed to exchange said collaterals from time to time, and at any time they may desire, for others placed by him in their stead, of equal value, or of value sufficient to amply secure said permanent endowment fund and the
annual income or annuity hereinbefore provided for, the amount and character of said collateral security to be determined by said Board of Trust.

3rd - The said school shall be designated and known as __________ and is to be managed and controlled by Quarterly County Court of said county, through a board of seven trustees, to be elected by said Quarterly Court; and title to all of the said school property, except the endowment fund, shall be vested in the said Trustees and their successors.

Any vacancies occurring on said board, or the Board of Trust hereinbefore provided for, by death, resignation, or otherwise, shall be filled by the remaining members of said boards, respectively, until such time as the Quarterly Court shall elect members to fill such vacancies.

And the aforesaid Board of Trustees, and Board of Trust shall organize and elect its respective officers, such as president, secretary, etc., and shall make all necessary rules and regulations for the government of their respective Boards; and said Trustees, and Board of Trust shall serve without compensation.

4th - The Board of Trustees in the management and operation of said school, shall be required to keep accurate minutes and records of all proceedings; and shall make quarterly reports to the quarterly sessions of said Court, giving full and correct information, in detail if requited by said court, as to the control, management and progress of said school, and the cost of maintaining and operating the same, to which such reports shall be filed for reference in the office of the County County Clerk.

No contracts shall be made, and no bills paid for any purpose, until the same are approved and audited by the Board of Trust.

All details, other than herein enumerated, pertaining to the purchase of suitable grounds and the erection of buildings thereon, the control, management and operation of said school is to be left to the said Quarterly Court to work out, through said Boards.

5th - Said boards, acting in conjunction, may elect a president and secretary of the school, and prescribe their duties and fix their terms of office, but in no event shall the endowment fund be chargeable with any salaries or compensation to any officer, or officers, created by said Boards, or either of them.

Signed in duplicate, This 3rd day of July 1905.

E.W. Grove
July
State of Tennessee-Henry County

Personally appeared before me, Q.E. Routon, Clerk
of the County Court of said county the within named
bargainor, E.W. Grove, with whom I am personally
acquainted, and who acknowledged that he executed
the within instrument for the purposes therein contained
or expressed Witness my hand, at office, this 5th day
of July 1905.
Q.E. Routon, Clerk

Resolved, that the name of the High School shall be the
"E.W. Grove High School." of Henry County in honor
of Mr. Grove, who has so generously proposed to endow it.

Resolved further, that the greatful and heartfelt thanks of this Court to be extended to Mr. Grove for his unselfish and patriotic contribution, for the cause of education for Henry County, which shall bless us, and our children's children to the remotest generations.

Resolved further, may happiness attend him all the days of his life, and that it is the earnest desire of this Court that that prosperity which enabled him to bestow rich blessings upon Henry County, and upon her boys and girls, may ever attend him, and that long and useful years may be his, and finally, that he be admitted to the Higher Reward, which awaits all those who have not lived in vain.

Resolved further, that these resolutions by spread upon the minutes of this Court and a copy thereof be furnished to Mr. Grove.

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THANKS to STEPHANIE TAYLOE for providing this copy of the endowment article.