"3. That all the preachers be solicited to do their utmost to secure the full amounts apportioned to their respective districts."
At the annual meeting of the Board, held June, 1875, the announcement was made of the death of two of its most useful and venerable members, viz., D'Arcy Paul, of Petersburg, and Rev. Henry B. Cowles, of the Virginia Conference.
It would be meet and right to give the tributes paid to these Trustees, so worthy of them, if space allowed. The first had served most faithfully for a period of thirty-five years, and the other thirty-three.
The annual report of the Financial Secretary was not so satisfactory as to current receipts, the number of students at the College having fallen down to 215, instead of 235. There had been deficiencies in other items. All these deficiences were caused, in the main, by the financial condition of the country, which was so sadly affected by the panic of 1873. There were some cheering signs, however, to offset these deficiencies. The largest donation ever made to the College up to this time had been received the past year. This was made by Mr. James B. Pace, of Richmond, Va., viz., $10,000 in Virginia State bonds. This was given to build the Pace Lecture Hall, a building so much needed, and which is now, and will be for years to come, a monument to the liberal donor.
[Illustration: JAMES B. PACE, Trustee, and Founder of Pace Hall.]
[Illustration: RANDOLPH-MACON COLLEGE, 1880 to 1886.]
[Illustration: PACE HALL.]
Another donation of $5,000 was made by the old and fast friend of the College, Thomas Branch, president of the Board; by others, $808.50—total, $15,808.50.
The financial statement for this year is given in the comparative statement furnished by the Financial Secretary in his annual report:
Assets. Liabilities. Balance. 1872, . . $58,729 65 $23,216 49 $35,513 16 1873, . . 74.611 13 26,377 14 48,233 99 1874, . . 72,496 47 31,538 12 50,958 35 1875, . . .91,660 78 20,974 36 70,686 42 Increase, 99-1/4 per cent.