The Central Presbyterian

Theological Seminary of the Northwest. - It is now understood that the Rev. Dr. Prentice will accept the chair to which he has been appointed. At a recent meeting of the Board of Directors his salary was fixed at $3,500. This the Board are encouraged to promise in view of the liberal gifts of Mr. McCormick, and the assurance that the remaining sum necessary to complete the full endowment of the Chair will immediately be raised. Mr. McCormick appeared before the Board, and promised in the event of Dr. Prentice's accepting the Chair to which he has been elected, the sum of forty thousand dollars at first promised, with an increase of five thousand dollars for this Chair, and to add to the General Endowment Fund ten thousand dollars more; making his contribution to the endowment of the Seminary one hundred and thirty thousand dollars. This leaves but twenty thousand dollars to be raised for Dr. Prentice's Chair from other sources. Of this amount the Directors have a portion in hand, and are confident that the whole will soon be obtained, and have instructed the Executive Committee to proceed at once in the matter. Action also was taken with reference to increasing the endowment of the other Chairs to the amount of forty-five thousand dollars each.