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 Agreement Between the Donors and 
 
 Managers of the Vandei-bilt Clinic 
 
 and the Trustees of Coiumbia College 
 
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Agreement 
 
 BETWEEN 
 
 THE DONORS AND MANAGERS 
 
 VANDERBILT CLINIC 
 
 THE TRUSTEES OF COLUMBIA COLLEGE 
 
 CITY OF NEW YORK 
 
 Dated January 9, 1896 
 

AGREEMENT, made this ninth day of January, in the 
 year One thousand eight hundred and ninety-six, between 
 
 CoRNiJuus Vandkrbilt, W11.LIAM K. Vanderbilt, Fred- 
 erick W. Vanderbilt and George W. Vanderbiet 
 (hereinafter called "the Donors"), 
 
 parties of the first part ; 
 
 Frederick W. Vanderbilt, James W. McLanE, M.D., 
 WiELiAM H. Draper, M.D., Charles McBurney, 
 M.D., and George M. TuTTlE, M.D. (hereinafter called 
 "the Managers"), 
 
 parties of the second part ; and 
 
 The Trustees of Columbia College in the City oe 
 New York (hereinafter called "Columbia College"), 
 
 party of the third part. 
 
 Whereas, the Donors, on or about April 15, 1886, sub- 
 mitted to the Trustees of the College of Physicians and Sur- 
 geons (a Corporation then existing under the laws of the 
 State of New York) certain propositions in writing which 
 were duly accepted by resolution of said Trustees; and by 
 such propositions the Donors offered to give to said Trustees 
 the sum of two hundred and fifty thousand dollars, and out 
 of said sum to erect a building for the clinical teaching of the 
 said College of Physicians and Surgeons upon the land owned 
 by the said College and also to furnish and equip said build- 
 ing which should be a memorial to their father, William H. 
 Vanderbilt, and should be known as the Vanderbilt Clinic 
 of the College of Physicians and Surgeons ; and the Donors 
 also offered out of said sum, upon completion of the said 
 building, to provide an endowment fund for the support of the 
 same, upon condition that the management of said building 
 and endowment fund should be under the direction and con- 
 trol of five Managers named by the Donors and of the suc- 
 cessors of said Managers, to be elected in the manner pre- 
 scribed in the said written propositions of the Donors; 
 
And where;as^ the Donors thereafter submitted to the said 
 Trustees of the College of Physicians and Surgeons certain 
 other propositions in writing, which were duly accepted by a 
 resolution of said Trustees adopted on or about February 4, 
 1890, whereby the mode of filling vacancies in the Board of 
 Managers was regulated, and other provisions of the agree- 
 ment first above mentioned were modified ; 
 
 And whe;re;as, the building which the Donors proposed to 
 erect was thereafter duly erected at the southeasterly corner 
 of Sixtieth Street and Tenth Avenue in the City of New York 
 on land of the said College of Physicians and Surgeons, and 
 was duly furnished and equipped, and thereupon the sum of 
 $100,000, or thereabouts, was provided by the Donors as an 
 endowment fund, and securities representing the investment 
 of said sum, with all accumulations and additions thereto, are 
 now in possession of the Managers, who have duly applied the 
 income thereof to the support and maintenance of said 
 Vanderbilt Clinic ; 
 
 And whereas, the said College of Physicians and Surgeons 
 on or about June i, 1891, by authority of the State of 
 New York, duly granted, conveyed, assigned and transferred 
 to The Trustees of Columbia College in the City of New York 
 all its real and personal property (including said Vanderbilt 
 Clinic, with all its furniture and equipment) ; 
 
 And whereas, the Donors on or about December 7th, 1894, 
 submitted to Columbia College certain propositions in writing 
 which were duly accepted by Columbia College, but which 
 were subsequently modified by an instrument in writing 
 signed by the Donors and dated February 4, 1895 ; and by 
 said propositions (as modified) the Donors offered to con- 
 tribute a sum not exceeding $350,000 in all, for the purpose 
 among others of enlarging the building theretofore known as 
 the Vanderbilt Clinic and of furnishing and equipping the 
 same ; and the Donors have up to the day of the date of this 
 agreement paid to Columbia College the sum of $300,000 out 
 of the said total of $350,000, and are ready to pay the balance 
 whenever requested to do so; 
 
And whereas, in the instrument first above mentioned the 
 Donors stated that if their proposition met with the approval 
 and assent of the Trustees of the College of Physicians and 
 Surgeons they would at once execute the necessary legal 
 papers for carrying it into effect, but such papers have not 
 been executed, and the parties hereto are desirous of now 
 embodying in a single paper the various agreements recited 
 above and of executing such an instrument as shall effectually 
 and lawfully provide for perpetually carrying out the inten- 
 tions of the Donors, and shall accurately define the respective 
 rights and duties of the Managers and of Columbia College ; 
 
 Now, THEREFORE, this Indenture witnesseth as follows : 
 
 I. The Managers, at the request of the Donors, do hereby 
 sell, assign, transfer and set over to Columbia College the 
 following securities and money constituting the principal of 
 the endowment fund of the Vanderbilt Clinic, to wit: 
 
 PAR ANNUAL 
 VALUE. INCOME. 
 
 Michigan Central R. R. (Detroit & Bay City Div'n) 5% 
 
 Bonds $100,000 $5,000 
 
 Chicago & Northwestern Ry. 4% Extension Bonds 10,000 400 
 
 Canada Southern Ry. Co. 2d Mtg. S% Bonds 5,000 250 
 
 $115,000 $5,650 
 
 In order to simplify accounts, it is agreed that for the pur- 
 poses of book-keeping this transfer shall be considered as 
 made on January i, 1896; and all income received on and 
 after that day shall appear in the books of the Treasurer of 
 Columbia College. Columbia College agrees to have and to 
 hold the securities and money above mentioned, and the pro- 
 ceeds thereof, and any and all property or securities which 
 may be substituted therefor, as and for an endowment fund 
 for the Vanderbilt Clinic ; as also all other property or securi- 
 ties or money which may hereafter be vested in Columbia 
 College by gift, grant, devise or bequest by any person or 
 persons as an additional endowment for said Vanderbilt 
 Clinic; and to pay over all the interest and income therefrom 
 
as the same shall be collected to the Treasurer of the Board 
 of Managers for the support and maintenance of said Van- 
 derbilt Clinic, it being expressly agreed by the parties hereto 
 that the receipt of such Treasurer shall be a sufficient voucher 
 to the Treasurer of Columbia College of the proper applica- 
 tion of such interest and income. Columbia College agrees 
 to keep the said endowment fund invested, and it shall have 
 the right to invest the same in such securities or property as 
 it may deem most expedient, and from time to time to sell 
 any securities or property now or hereafter constituting or 
 included in the endowment fund and to reinvest the proceeds 
 as it shall deem best. The covenants and agreements herein 
 contained shall apply to any and all proceeds of the sale of 
 the above mentioned securities or any of them, and to all 
 securities or property into which the above described securi- 
 ties may hereafter be converted and to the interest and income 
 derived from such proceeds of sale or from such substituted 
 securities or property. 
 
 2. The Donors covenant and agree that the original Van- 
 derbilt Clinic building situate at the southeasterly comer of 
 Sixtieth Street and the Tenth Avenue in the City of New 
 York, being about one hundred feet on the Tenth Avenue 
 and seventy-five feet on Sixtieth Street, is and shall remain 
 the property of Columbia College; also the extension of 
 said original building recently erected and situate on the 
 southerly side of Sixtieth Street and covering the ground 
 between the said original building and the College buildings 
 on said southerly side of Sixtieth Street, being about sixty 
 feet in front on Sixtieth Street by one hundred and two feet 
 in depth; and also all furniture, fixtures and equipment 
 therein. And the Donors do hereby remise, release and quit- 
 claim the said land and building, and personal property, to 
 Columbia College and its successors forever. 
 
 3. Columbia College agrees that the whole of the buildings 
 mentioned and described in Clause 2 of this agreement shall 
 forever be a memorial to the father of the Donors, the late 
 William H. Vanderbilt, and that the same shall be known 
 and designated as 
 
"Tut Vande;rbilt Clinic 
 01? THS ColleJGe; o^ Physicians and Surgeons." 
 
 4. Columbia College does hereby demise and lease to the 
 Board of Managers and their successors (appointed as herein- 
 after provided) the use and occupation, free of rent, for the 
 purpose of clinical instruction as hereinafter more fully 
 expressed, the whole of the original building described in 
 Clause 2 of this agreement, and the first, second and third 
 stories of the addition thereto as described in said clause, ex- 
 cepting and reserving, however, for the general purposes 
 of Columbia College, the fourth and fifth stories of said 
 addition. Such use and occupation shall continue free of 
 rent as long as the demised premises shall be maintained and 
 managed in the manner hereinafter provided without cost or 
 expense to Columbia College, or until some other suitable 
 building for the purpose shall have been provided by Colum- 
 bia College as required by Clause 8 of this agreement. The 
 Managers and Columbia College may by agreement at any 
 time or times hereafter vary the terms of the foregoing 
 demise so far as relates to the amount of space leased to and 
 put under control of the Managers. 
 
 5. The management and control of the said Vanderbilt 
 Clinic (that is to say, of so much of the above described 
 buildings as may not be reserved for the general purposes of 
 Columbia College) shall forever remain under the direction 
 and control of the Board of Managers, which now consists of 
 the following named persons and shall hereafter consist of 
 said persons and their successors, to wit: 
 
 Fre:derick W. Vanderbilt, one of the Donors ; 
 
 The Dean for the time being of the College of Physicians 
 
 and Surgeons (the said office being now filled by James 
 
 W. McLane, M.D.) ; 
 William H. Draper, M.D., representing the Trustees of 
 
 Columbia College; 
 Charles McBurney, M.D., and George M. Tuttle, 
 
 M.D., representing the Medical Faculty of the College 
 
 of Physicians and Surgeons. 
 
Vacancies in the Board of Managers shall be filled by the 
 remaining members of the Board as follows : 
 
 In case of the death, resignation, or disability of Frederick 
 W. Vanderbilt, the Board of Managers shall fill the vacancy so 
 caused by the election of such person as the surviving Donors 
 may nominate; upon the death of all the Donors, in case of 
 vacancy the Board of Managers shall elect a male descendant 
 of William H. Vanderbilt (the father of the Donors) ; and in 
 case there are no such descendants, then the Board of Man- 
 agers shall elect a person of their own nomination. 
 
 In case of the death, resignation, or disability of William 
 H. Draper, M.D., the Board of Managers shall fill the 
 vacancy so caused by the election of a member of the Trus- 
 tees of Columbia College, 
 
 In case of the death, resignation, or disability of Charles 
 McBurney, M.D., or George M. Tuttle, M.D., the Board of 
 Managers shall fill the vacancy by the election of a member 
 or members of the Faculty of the College of Physicians and 
 Surgeons. 
 
 If the member of the Board of Managers representing the 
 Trustees of Columbia College should at any time cease to be 
 one of the Trustees of said College, and so cease to represent 
 that body ; or if either of those representing the Faculty of the 
 College of Physicians and Surgeons should at any time cease 
 to be a representative of said Faculty either as Professor, as 
 Clinical Professor, or as Professor Emeritus, such non-repre- 
 sentation shall constitute a disability within the meaning of 
 this instrument and the vacancy shall be filled by the election 
 of a new member in the manner hereinbefore provided. 
 
 6. The Board of Managers shall have the entire control 
 and management of the Vanderbilt Clinic (that is to say, of 
 so much of the above described buildings as may not be 
 reserved for the general purposes of Columbia College), and 
 shall have exclusive power to make the necessary rules and 
 regulations for conducting the business thereof and for pro- 
 viding such medical and other attendance as shall in their 
 
judgment be requisite for the care and treatment of patients 
 coming for relief; and they shall, from the income of the en- 
 dowment fund, provide for the supplies, service, repairs, and 
 all other necessary and proper current expenses of said 
 Vanderbilt Clinic, so that it shall in no way be a burden upon 
 the general finances of Columbia College ; but shall have no 
 power to divert the use of said buildings (or so much thereoi 
 as may be under their control) from clinical teaching, nor to 
 do any act affecting the title to or disposition of the land or 
 buildings above described, or of any of the furniture or equip- 
 ment thereof, or of the property and securities constituting 
 the endowment fund, all of which shall at all times be vested 
 in and belong to Columbia College. The Board of Managers 
 shall have the direction of the expenditure of the income 
 arising from the said endowment fund as the same now is or 
 may hereafter be constituted, and of all other income which 
 the said Vanderbilt Clinic shall or may be entitled to receive 
 from any source whatever. The Board of Managers shall 
 elect or appoint a suitable person to be the Treasurer of the 
 Vanderbilt Clinic, who shall collect, receive, and receipt for 
 all moneys to which the said Vanderbilt Clinic is entitled, in- 
 cluding the income of said endowment fund, and shall keep 
 proper books of account both of receipts and disbursements ; 
 and the Board of Managers shall render to Columbia College 
 an annual account of all receipts and expenditures, together 
 with a report of the administration of the said Vanderbilt 
 Clinic, and of the number of persons received or treated 
 therein. Such accounts shall be made up to the first day of 
 July in each year. 
 
 In case the Board of Managers shall have any surplus in 
 their hands at the close of any fiscal year, they may in their 
 discretion pay the same over to Columbia College to be added 
 to and invested as a part of the endowment fund of the 
 Vanderbilt Clinic. 
 
 7. The said Vanderbilt Clinic shall be controlled and man- 
 aged by the Board of Managers in such manner as to afford 
 the most favorable opportunities to the students in the College 
 
of Physicians and Surgeons for general clinical instruction in 
 the various branches of medicine and surgery. 
 
 8. In case of the sale or other disposition of said buildings 
 and the land on which the same are erected and of the removal 
 of the College of Physicians and Surgeons to any other place, 
 Columbia College hereby covenants and agrees to apply all 
 the proceeds of the sale of the said buildings and their furni- 
 ture, and equipment, and such further sum as may be neces- 
 sary to the construction, equipment and furnishing of similar 
 and suitable buildings for general clinical instruction, to be 
 always and at all times maintained in connection with the 
 College of Physicians and Surgeons so as effectually to carry 
 out the intent of the Donors in erecting, equipping and fur- 
 nishing the buildings above described. 
 
 9. Columbia College shall, at its own expense and without 
 charge, furnish to the Vanderbilt Clinic a proper and suf- 
 ficient supply of electric light and power, heat and steam, and 
 shall make the necessary external connections and maintain 
 the electric plant and boilers requisite for furnishing the same. 
 
 10. It is agreed by all the parties hereto that Columbia 
 College is and shall be under no implied obligation, respon- 
 sibility, or liability of any kind whatsoever, either for the 
 maintenance, support, direction, or management of said 
 Vanderbit Clinic, or for the disbursement of income paid to 
 its Treasurer or otherwise; but that all and every obliga- 
 tion, responsibility, and liability assumed by Columbia College 
 shall be strictly limited to such as are hereinbefore expressly 
 and in terms assumed and agreed to by it. 
 
 11. The words, "The College of Physicians and Surgeons," 
 used in Paragraphs numbered 5, 7 and 8, shall be interpreted 
 and held to mean the institution now conducted by Columbia 
 College, and not the corporation heretofore existing and men- 
 tioned in the recitals prefixed to this Agreement. 
 
 In witness whkrEoF, the parties of the first and sec- 
 ond parts have hereunto severally affixed their 
 hands and seals, and the party of the third part 
 
has caused these presents to be executed and its 
 corporate seal to be hereto affixed the day and 
 year first above written. 
 
 In the presence of 
 
 G. S. Prince, 
 
 Witness as to Donors. 
 Jas. T. Mulligan, 
 
 Witness as to Managers. 
 J. Gale Needham, 
 
 Witness as to the College. 
 
 C. Vanderbilt. 
 
 
 [seal] 
 Donor. 
 
 W. K. Vanderbilt. 
 
 
 [seal] 
 Donor. 
 
 F. W. Vanderbilt. 
 
 
 [seal] 
 Donor. 
 
 Geo. W. Vanderbilt. 
 
 
 [seal] 
 Donor. 
 
 F. W. Vanderbilt. 
 
 
 [seal] 
 
 Manager. 
 
 James W. McIvAne, 
 
 M.D. 
 
 [seal] 
 
 Manager. 
 
 W. H. Draper, M.D. 
 
 
 [seal] 
 
 Manager. 
 
 Geo. M. Tuttle, M.D. 
 
 
 [seal] 
 Manager. 
 
 Charles McBurney, 
 
 M.D. 
 
 [seal] 
 Manager. 
 
 The Trustees oe Columbia College in the 
 
 City oe New York, by 
 
 
 
 [seal] 
 
 John 
 
 B. Pine, 
 Clerk. 
 
10 
 
 State oi^ Ne;w York, -^ 
 County of 'Ntw York, Iss. : 
 City of Ne;w York, J 
 
 On this 13th day of January, one thousand eight hundred 
 and nine-six, before me personally appeared Cornsi^ius Van- 
 DERBiLT, William K. Vande;rbilt and George; W. Vander- 
 BiLT, to me known and known to me to be the individuals 
 described in and who executed the foregoing instrument, and 
 severally duly acknowledge that they executed the same. 
 
 Edgar W. Freeman, 
 
 Notary Public, 
 New York County. 
 
 State oe New York, ^ 
 County oe New York, Us. : 
 City oe New York, J 
 
 On this 15th day of January, one thousand eight hundred 
 and nine-six, before me personally appeared Frederick W. 
 Vanderbiet, James W. McLane, M.D., Charles McBurney, 
 M.D., and George M. TuTTlE, M.D., to me known and known 
 to me to be the individuals described in and who executed the 
 foregoing instrument, and severally duly acknowledge that 
 they executed the same. 
 
 Jas. T, Mulligan, 
 
 Notary Public, 
 N. Y. Co. (158). 
 
II 
 
 State of New York, ^ 
 County of New York, \- ss. : 
 City of New York, J 
 
 On the 9th day of January, 1896, before me personally 
 appeared John B. Pine, to me known and being by me duly 
 sworn, deposed and said that he resided in the City of New 
 York, and was the Clerk of The Trustees of Columbia College 
 in the City of New York, one of the parties described in and 
 who executed the foregoing instrument; that the seal affixed 
 to such instrument was their corporate seal and was by him 
 affixed thereto by their authority, and that he subscribed his 
 name thereto by like authority. 
 
 J. GaeE Needham, 
 
 Notary Public, 
 N. Y. Co. 
 
 Approved — Seth Low, 
 
 President. 
 Approved by Finance Committee, 
 
 Geo. G. Whee;eock, Sec'y. 
 
COLUMBIA UNIVERSITY LIBRARY 
 
 This book is due on the date indicated below, or at the 
 expiration of a definite period after the date of borrowing, 
 as provided by the rules of the Library or by special ar- 
 rangement with the Librarian in charge. 
 
 DATE BORROWED 
 
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M-R747.C7 
 
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