and claimed the earlier date, "Founded 1740";—for which there appears no warrant in the long and unbroken Annals of the University. It is certain that Franklin and Peters had themselves no thought of their building in 1749 "upon another man's foundation."
On the first of February, 1750, the "Trustees of the Academy met at Roberts's Coffee House, except James Logan, Tench Francis, and Thomas Hopkinson, Esquires;" when "the Trustees of the New Building being present, joined in directing Edmund Woolly and John Coats to convey, and they accordingly did convey the said Building Lot of ground and Appurtenances to the Trustees of the Academy, in consideration of the sum of Seven hundred seventy and five pounds eighteen shillings and eleven pence and three farthings to them in hand then paid by the Treasurer for order of the Trustees for discharging the debts and incumbrances of the said Building." And to meet this purchase the Trustees "agreed unanimously to borrow Eight hundred pounds of the Treasurers of the Lottery, which was accordingly done and bond given by all the Trustees for repayment of the same with interest; which is to be done out of the Stock of the Academy, as it shall arise."
This conveyance of 1 February, 1750, recites the death of Howell and Price, the associates of Woolly and Coats; and that William Seward and Thomas Noble being since deceased, the survivors of the Cestui que trust or a majority of them, namely, Benezet, Hazard, Eastburn, Read and Evans agree to Woolly and Coats assignment and sale. This conditioned that the Trustees should place, erect, found, establish, or keep a house or place of public worship, and also one free school for the instructing teaching and education of poor children or scholars within two years from the date of the conveyance; and likewise from time to time introduce such preacher or preachers whom they shall judge qualified as recited in the former indenture is expressed to preach and teach the word of God occasionally in the said place of publick worship but yet so that no particular sect be fixed there as a settled congregation and shall at all reasonable times permit and suffer in his reasonable turn any regular Minister of the Gospel to preach in the House or place on the premises which shall be set apart for Publick Worship who hath signed or hereafter shall sign certain articles of religion a copy whereof is hereto annexed and whom they shall moreover
