PITTSBOROUGH ACADEMY LOTTERY.
An Act to authorize the Trustees of the Pittshorough Academy to raise the sum of seven hundred dollars by way of Lottery.
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 benefits to the said institution:
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 a scheme of lottery, calculated to raise the sum aforesaid, in the following manner:
3,500 Tickets at two dollars each is......................... $7,000
1 Prize of four hundred dollars is.................................400
2 Do. of one hundred dollars is...................................200
4 Do. of fifty dollars is..............................................200
8 Do. of thirty-five dollars is......................................280
18 Do. of twenty-five dollars is...................................450
200 Do of ten dollars is............................................2,000
490 Do of three dollars is.........................................1,470
400 Do of five dollars is...........................................2,000
..............................................................................1,123 Prizes. $7,000
2,337 Blanks.
3,500 Tickets at two dollars each is......................... $7,000
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 the 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 the 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 notice shall be given in 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 shall be vested in the Trustees aforesaid. IV. And be it further enacted, That before the Commissioners herein appointed shall 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 the demand; and further that 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 shall fail to perform any part of the condition of said bond, any person aggrieved by such failure may without assignment 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 so 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.
—Laws 1797, Chapter XXXII.
(Source: North Carolina Schools and Academies, 1790-1840, By Charles L. Coon 1914) |