The Icelandic Canadian - 01.06.2000, Blaðsíða 12

Vol. 55 #4
THE ICELANDIC CANADIAN
310
The Trust Deed of 1949
The purposes that lay behind this campaign and the use of the proceeds from it were formal-
ized in a Trust Deed which had been signed on February 15th, 1949. The text relating directly to the
purposes of the campaign follows:
"Dated the 15th day of February, 1949.
TRUST DEED
relating to the establishment and endowment of a
CHAIR OF ICELANDIC LANGUAGE AND LITERATURE in THE UNIVERSITY OF
MANITOBA"
So reads the title page recording the commitment of the Icelandic community to raise sufficient
funds "for the purpose of providing for the establishment and maintenance of a Chair of Icelandic
Language and Literature" and, subject to the success of that fundraising, of The University of
Manitoba to establish such a Chair. The initial sum collected at that time for the Trust was
$108,066.68 which the University deposited for the agreed upon Endowment.
Here is a verbatim copy of what was agreed along this historic route. (Clauses I and 2 deal with
the technicalities of holding and investing the moneys and define those as "the Endowment Fund.")
"3. If, on or before June 17, 1952, the Endowment Fund shall amount to, or be of the
value of, not less than $150,000:
(a) The University shall, on or before June 17th, 1952, establish a Chair of Icelandic
Language and Literature within the Faculty of Arts and Science of the University, as a
Department of such Faculty, with the object of providing courses of instruction and pro-
moting studies and research in the field of Icelandic Language and Literature: provided,
however, that the Board of Governors of the University may from time to time transfer the
said Department to any other Faculty of the University
(b) The University shall on or before June 17th, 1952, create a Professorship of
Icelandic Language and Literature, and shall from time to time appoint a suitably qualified
specialist in Icelandic Language and Literature, whose duties shall include the conduct of
study in Icelandic Language and Literature as the Senate of the University may from time
to time determine.
(c) The University shall maintain the said Department so far as the income of the
Endowment Fund shall permit, on the basis comparable in every way with that of other
departments in the Humanities established in the University.
(d) The income of the Endowment Fund arising after the establishment of the Chair of
Icelandic Language and Literature shall be applied by the University, firstly in payment of
the salary of the said Professor of Icelandic Language and Literature, and secondly, so far
as the same will thereunto extend and the Board of Governors may in their discretion
authorize, in providing such additional teaching assistants as the extent of the instruction
offered by said Department may warrant, and such books, materials and library service as
may be deemed by the Board of Governors of the University necessary or desirable for the
purposes of the said Department.
(e) Nothing herein contained shall obligate the University to make any expenditures
or incur any liabilities in excess of the income of the Endowment Fund."
Further, since it could not be guaranteed that the remaining necessary funds would be
raised - although it was confidently expected that that would be the case- a clause was pro-
vided against that possible contingency, namely:
"4. If, on or before June 17th, 1952, the Endowment Fund shall not amount to, or be
of the value of, not less than $150,000, the University shall return the Endowment Fund
and accrued interest thereon to the respective donors at their addresses as filed with the