Appropriate Portion
Of Charles Webster’s
Will
Article III, Paragraph B, Subparagraph2:
“Subject to the foregoing distribution to
Reed college, the net income from the Trust Estate shall be disbursed in
convenient installments to the Peninsula college Memorial Fund of Port Angeles,
Washington, on the condition that Peninsula College shall promptly establish
and maintain a first-class journalism department, or continue to maintain one
if there be one in existence, to establish the ‘Charles N. Webster
Scholarships,” in a number and frequency and amount or amounts to be
determined by the president of the college or his faculty delegate or delegates
for students in said journalism department and for graduates of said journalism
department to complete their education in recognized schools of journalism.
“By ‘scholarships,’ I wish to
specify that, in addition to or in lieu of outright grants to students, I would
encourage the president of the college or his faculty delegate or delegates to
make long-term, low-interest loans to journalism students of the college, on
terms to be established by him or them, but on the understanding that, if the
recipient is actively pursuing a professional career in journalism five (5)
years after receipt of the loan, the loan shall be considered paid and
forgiven.
“By ‘professional career in
journalism,’ I wish to specify that –without wishing to sate an
exhaustive definition—I include writing for or editing newspapers or
magazines, or writing or directing news or special features on the broadcast
media. The term shall not include work in public relations or advertising, if
the individual is not directly employed by a newspaper, magazine or broadcast
licensee.
“Should Peninsula College not qualify, or
not continue to qualify, under the conditions specified in the preceding
subparagraph, then the net income from the Trust Estate shall be disbursed in
convenient installment to Reed college, upon the same uses, purposes and
conditions; provided however, that if in the opinion of the governing board of
Reed College, a separate journalism department is not considered appropriate
for the college, then scholarships, as defined above, may be awarded to
undergraduate students who, regardless of their major course of study, intend
to pursue a professional career in journalism. In such a case, the committee to
select such recipients and define the terms of such scholarships shall consist
of their chairmen of the English, History and political Science Departments of
Reed College.”