Smithsonian a Co-partner in Mercer Trust
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PrintUpon the death of the Rev. Dr. Alexander G. Mercer, of Newport, Rhode Island, the Smithsonian Institution is made a co-partner in the administration of a beneficiary trust of a million dollars, set up to take effect after the decease of Mercer's immediate beneficiaries. Together with Harvard and Yale colleges and three individual board members, the Institution is to cooperate in the administration of one third of the remaining property to establish scholarships in selected colleges for the education of poor students. Secretary Spencer F. Baird points out that it is not likely that any occasion for administering the trust will arise for probably a quarter century to come (AR 1882, p. 40).
Chronology of Smithsonian History
Institutional History Division, Smithsonian Institution Archives, 600 Maryland Avenue, S.W., Washington, D.C. 20024-2520, SIHistory@si.edu
November 3, 1882