After the initial $600 subscription in 1810, the Board of Trustees found it necessary to continue their support of the school. In 1840, the Subscribers held themselves "individually responsible each to the other for an equal portion of a joint note" 19 given by Thomas McCormick to defray expenses of the Academy. A new subscription payable in money, labor or materials was issued for the purpose of purchasing and erecting a new Academy site. 20 Dated July 5, 1867, the subscriptions were secured by a lien on the new buildings, the State's donation, a 10% tax on every boarder's annual payment, and the sale or rental of Academy property in Brookeville.
18 "An Act to Authorize the Comptroller to Invest the Balance of the unappropriated Fund, Arising from the Sale of Land Scrip, Donated to the State, by the United States, for the Benefit of Agricultural and Mechanical Arts," Maryland General Assembly, 1868, Chapter 223.
19 "Board Meeting dated October 12, 1840," Brookeville Academy Minute Books, 2 Vols., 1822-1964, MS.149, Manuscripts Division, Maryland Historical Society Library.
20 "Subscription Paper," Brookeville Academy Minute Books, 2 Vols., 1822-1934, MS.149, Manuscripts Division, Maryland Historical Society Library. |
