There was paid for indigent Students during the past year, out of the above fund, $572 50.

The Board respectfully remind Synod of the propriety of their recommending suitable persons to receive aid from this fund.

II. Legacy of the Late Miss Rebecca Knox.

The amount of this fund is $2000, due from the Trustees of the General Assembly of the Presbyterian Church.

On which there was a balance of interest in the hands

of the Deputy Treasurer 1st May last,

One year's interest received the present year,

$8 11 120 00

As rendered by Peter Spader, Deputy Treasurer of Rutgers' College 2d April, 1827.

Interest due on the Bond 1st May, 1827,

$40 00

III. Professorate Funds in the hands of the Trustees of Rutgers

College.

Secured by Bond and Mortgage

$9750 00

Received during past year for interest, and arrears of

IV. Indigent Students.

The sum of $150 has been paid by Isaac L. Kip, Treasurer of the Collegiate Churches in New-York, to the Acting Treasurer of this Board, for money received for a license to print an edition of psalms and hymns.

V. Permanent Fund.

This Fund, including the 2d and 3d Professorships, stands as last year, excepting that the individual obligations therein mentioned, amounting to $6 287 75, have been paid off, to wit, Three sums loaned on Notes, viz:-1826, May 15th,

$2,172 31

Which will appear in the late Treasurer and Acting Treasurers' accounts current, none of which has been re-invested. But their accounts will shew all the monies which have been received and paid, as well by the late Treasurer, as the Acting Treasurer since his death. As no books of the late Treasurer of the distinct accounts of the 2d and 3d Professorships have been found, the Board cannot therefore more particularly at present report thereon.

VI. Collection in the Churches.

During the past year has been received from this source, For the Permanent Fund,

Twenty-five cent donations,

$75 19

Contingent Fund,

186 14

217 05

Other collections for the Theological College,

289 98

$768 36

VII. Cent Societies.

The receipts during the past year have been only from the Collegiate Churches in New-York,

$73 50

VIII. Minutes of General Synod.

There has been received for Minutes during the last

year the sum of

IX. Contingent Fund.

$71 75

Since the last report, there has been received on account of this fund $186 14. The Board are under the necessity of referring to the Treasurers' accounts current, for the sums which have been paid on this account.

X. Donation of the Rev. W. Eltinge.

The Bergen Turnpike Stock of this donation, has been transferred to General Synod.

XI. Debts of General Synod.

Due Professor De Witt 1st June, instant,

Due Professor Cannon,

do.

Due Trustees of Rutgers College for one year's interest received on Colonel Rutgers' Bond for $5000,

$437 50 393 75

300 00

$1,131 25

XII. Estimate of Expenses of General Synod, from 1st June, 1827,

XIII. Estimate of Receipts from June 1, 1827, to June 1, 1828.

1. From the Professoral Fund,

$600 00

2. From the Permanent Fund, including 2d and 3d

Professorships do. about

2,250 00

3. Rev. Mr. Eltinge's donation,

4. Classes for printed minutes,

5. From the 25 Cent Donations, and other collections, according to arrangements as now directed by General Synod, about

6. Grant of Consistory of Collegiate Churches in New-York, for three years, $1700, commencing 9th November, 1825,

$10 00 75 00

800 00

1700 00 $5,435 00

The Board most respectfully recommend to General Synod, to reenact the resolutions heretofore adopted by them for the collections of money, and particularly that it be recommended to all the Churches, to attend to the collection of the Twenty-five Cent Donation. This item alone would be productive of a large revenue, if duly attended to.

To conclude, the Board have nominated the Rev. Eli Baldwin as their representative, to make such statements and explanations as may be necessary for the further information of Synod: as will appear by an extract from their minutes herewith sent.

The discharge of our duties has uniformly been attended with cheerfulness and pleasure; yet the visitations of death repeated from year to year, lead us to eye with deep solemnity the mysterious Providences of God, and admonish us, that the time of our departure approaches.

At the close of the present year, full of gratitude for past mercies, we would humbly place our labours at the feet of our Heavenly Master; acknowledging ourselves unprofitable servants; and cherishing in our hearts, an unreserved submission to his righteous will.

All which is respectfully submitted.

HENRY RUTGERS, President.
ISAAC L. KIP,

CORNELIUS HEYER,

WILLIAM M MURRAY,

Directors.

New-York, June 7th, 1827.

Resolved, That so much of the report of the Board of Corporation, as relates to monied concerns, be referred to the Committee on Finance, and so much of it as relates to correspondence, to the Committee on Correspondence, and the remainder to the Committee on the Professorate.

Resolved, That the Rev. Eli Baldwin be recognised as an agent from the Board of Corporation, to give such explanations in relation to the matters submitted by said Board, as the Synod may require.

Resolved, That the Rev. Alexander Gunn, D. D., Nicholas I. Marselus, and the Elder John I. Labagh, be a committee to report to Synod a nomination of twice the number of persons, who constitute the Board of Directors under the charter.

The committee reported accordingly, and the Synod proceeded to ballot for a President, three Directors and a Treasurer of the Corporation; when Mr. Henry Rutgers was chosen President, Messrs. Isaac L. Kip, Cornelius Heyer and Rev. William M Murray, D. D. were chosen Directors, and Mr. Isaac Young was chosen Treasurer of the Corporation.

The following By-Laws for the regulation of the Board of Corporation submitted by them, were read and referred to the Committee on the Professorate.

The General Synod in pursuance of the authority vested in them by their act of Incorporation, have made and ordained the following By-Laws, to regulate the conduct of the President, Directors and Treasurer of the Corporation.

I.

The Board shall hold stated meetings at least once in every month, and the President may call special meetings whenever he deems it necessary, and shall call such meetings when thereto requested by any two of the Directors.

II.

A majority of the Board shall constitute a quorum to transact business, and in the absence of the President the attending Directors may appoint a President pro, tem. to preside at their meetings.