Josephine R. Crane Memorial Fund

General Assembly of the Presbyterian Church (U.S.A.)

Fund Restriction

To be by it [Foundation, Inc.] administered for the use and benefit of the Student Loan Fund, maintained for students in the General Assembly Training School for Lay Workers [n/k/a Union Theological Seminary], located in Richmond, Virginia. I prefer that the sums thus paid shall be used as loan funds, but in all matters of use the judgment of the Foundation above named as to its use shall be conclusive. [On May 5, 1951, the Board of Foundation, Inc. voted and approved to allow the income from this fund to be used as scholarships instead of loans but that the corpus should not be invaded.]