North Carolina - Acts on Education Topics

An Act to Authorize the Trustees of the Pittsborough Academy to Raise the Sum of Seven Hundred Dollars by way of Lottery.

1797 - Chapter XXXII

The Laws of North Carolina of 1797 - Pages 13-14

Whereas, the Trustees of the academy aforesaid have represented to this General Assembly, that the raising the above sum of seven hundred dollars would be of great benefit to said institution:

I. Be it enacted by the General Assembly of the state of North Carolina, and it is hereby enacted by the authority of the same, That the Trustees of the academy aforesaid shall have leave to raise by way of lottery the sum aforesaid; and that John Ramsey, James Taylor, Charles Chalmers, John Henderson, James Bradley, John Dabney and William Warden, shall be, and they are hereby appointed Commissioners for the purpose of opening and completing scheme of a lottery, calculated to raise the sum aforesaid, in the following manner:

3500 Tickets at two dollars each, is ............................. 7000 dollars
1 Prize of four hundred dollars, is ....................................400 dollars
2 Do. of one hundred dollars, is ..................................... 200 dollars
4 Do. of fifty dollars, is .................................................. 200 dollars
8 Do. of thirty-five dollars, is ......................................... 280 dollars
18 Do. of twenty-five, is ................................................ 450 dollars
200 Do. of ten dollars, is ............................................... 2000 dollars
490 Do. of three dollars, is ............................................ 1470 dollars
400 Do. of five dollars, is .............................................. 2000 dollars

1123 Prizes .................................................................. 7000 dollars
2377 Blanks

3500 Tickets at 2 Dollars each, is ................................. 7000 dollars

And the said Commissioners, or a majority of them, shall be Managers of said lottery, and shall be accountable for the prizes and profits thereof.

II. And be it further enacted, That when three fourths of the said tickets are sold, that the drawing of the said lottery shall commence, under the management of said Commissioners, they giving thirty days notice in the Fayetteville Gazette.

III. And be it further enacted, That all prizes shall be paid in four weeks after the drawing is finished, upon demand of a possessor of a fortunate ticket, which prize shall be subject to a deduction of ten per cent; and if such prize is not demanded within six months after the drawing is finished, of which public notice shall be given to some public paper in this state, the same shall be considered as relinquished for the benefit of said academy; and the produce of said lottery be vested in the Trustees aforesaid.

IV. That before the Commissioners herein appointed shail begin to act in pursuance of this Act, they shall enter into bond, with security to be judged sufficient by the Trustees aforesaid, for the sum of seven thousand pounds, payable to the Governor for the time being and his successors; which bond shall be void, on condition that they, the Commissioners aforesaid, shall well and truly perform the trust hereby reposed in them, that is to say, that they will without fraud, delay or other deduction than ten per cent herein prescribed, pay to every fortunate adventurer in said lottery the prize he shall draw therein on demand; and further, that they the said Commissioners shall fully and faithfully account for and pay to the Trustees of the academy all the profits which shall arise out of the scheme of the lottery aforesaid, without fraud or delay.

V. And it is further enacted, That if the Commissioners aforesaid fail to peform any part of the condition of said bond, any person aggrieved by such failure may without assign may bring suit on said bond, in, the name of the Governor, in any court of record; and all sums recovered thereon shall be to the use of the person or persons who shall to bring suit; and the said bond shall be lodged with the Clerk of the Superior Court of Hillsborough District, who shall keep the same as part of the records of said district.

Read three times and ratified in General Assembly,
the 23rd day of December, 1797
James Glasgow, Secretary

Benjamin Smith, S.S.
M. Matthews, S.H.C.



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