The consummation of this great purpose was finally closed by the transfer (October 22nd) of the securities to the Association by the Hon. Luzon B. Morris, who has been throughout his trusted and honored legal and financial adviser.  This gift enrolls Mr. Hand among the honored names of wealthy men who have devoted their fortunes, not to mere display or personal gratification, but to elevate and bless the ignorant and needy.

Mr. Hand is a man of tall, commanding presence, and still at the age of eighty-seven writes with a firm and bold hand, and expresses himself in brief and vigorous language.

* * * * *

The deed of trust.

The purposes and conditions of this great trust are as follows: 

“The said Daniel Hand, desiring to establish a permanent fund, the income of which shall be used for the purpose of educating needy and indigent colored people of African descent, residing, or who may hereafter reside in the recent slave States of the United States of America, sometimes called the Southern States; meaning those States wherein slavery was recognized by law in the year A.D. 1861, and in consideration of the promises and undertakings of the said American Missionary Association, hereinafter set forth, does hereby give, transfer and deliver unto the said American Missionary Association the following bonds and property in trust, viz.:  (Here follows a list of the property transferred, amounting at par value to $1,000,894.25.  The market value is more than that sum.) Said bonds and property to be received and held by said American Missionary Association, upon trust, and for the following purposes, viz.:  To safely manage the said trust fund, to change investments whenever said Association may deem it necessary or advisable to reinvest the principal of said trust fund in such securities, property and investments as said Association may deem best, and to use the income thereof only for the education of colored people of African descent residing in the recent slave States of the United States of America hereinbefore specified.

“Such income to be applied for the education of such colored people as are needy and indigent and such as by their health, strength and vigor of body and mind give indications of efficiency and usefulness in after life.

“Said American Missionary Association and the proper officers thereof, shall have the right, while acting in good faith, to select from time to time such persons from the above described class as are to receive aid from the income of said trust fund, hereby confiding to said Association the selection of such persons as it shall deem most worthy and deserving of such aid, but I would limit the sum of $100 as the largest sum to be expended for any person in any one year from this fund.  I impose no restrictions upon said Association as to the manner in which they shall use such income for the education of such colored people, whether by establishing schools for that purpose, and maintaining the same, or by furnishing individual aid; trusting to said Association and the officers thereof the use of such means in the execution of said trust as in their judgment will be most for the advantage of that class of people.