FOUNDATIONS. I. CHALLIS FUND. IN 1880, the late John Henry Challis, Esq., formerly of Sydney' bequeathed his residuary real and personal estate to the University, "to be applied for the benefit of that Institution in such manner as the governing body thereof should direct." The bequest was subject to a tenure until death or re-marriage on the part of his widow, and to the payment of various annuities, and also to a period of five years' accumulation after such death or re-marriage. By the death of the widow, in September, 1884, the University became entitled to the accumulated property in September, 1889. The assets are invested partly in England and partly in New South Wales, and all the specific bequests have been paid. The assets in England, amounting to £30,000, are retained by the Trustees until the expiration of certain annuities. Those in Australia amount to £245,200. By a resolution of the Senate passed in 1885, it was determined that the Challis Fund should be applied as a permanent provision of income for educational uses. From the income of the Fund a sum of £7,500 was applied for the payment of half the cost of the erection of a new Chemical Laboratory, and a further sum of £1,200 devoted to the erection of a marble statue of Mr. Challis, which has been placed in the Great Hall opposite to that of Mr. W. C. Wentworth. The income arising from the Australian assets is now devoted to the maintenance of seven Challis Professorships in the following subjects, viz., Anatomy, Biology, Engineering, History, Law, Logic and Mental Philosophy and Modern Literature; and four Challis Lectureships in Law. CHALLIS PROFESSORSHIPS. Anatomy, 1890-James T. Wilson, M.B., Ch.M. (Edin.) |