College of Physicians of Philadelphia. Trustees of the Building Fund.

At a meeting of the College of Physicians of Philadelphia on 6 Nov. 1849, George Fox proposed a committee to determine the cost of a lot and construction of a building as a permanent home for the institution. The committee reported that $20,000 would be needed and recommended that a trust be established with the College's securities and additional funds raised over the course of several years until the amount required to build was collected. On 15 Jan. 1850, George Fox, J. Rodman Paul, and George Bacon Wood were elected Trustees of the Building Fund and empowered to receive and invest all funds for purchase and construction.

In 1859, the Building Fund had reached $21,545, and the trust was extended for five more years. In 1860, a lot at 13th and Locust Streets was purchased and the deed delivered to the trustees. An adjacent lot was purchased in the following year. In Dec. 1861, the College resolved to build but also continue fund raising efforts. The Hall of the College of Physicians of Philadelphia was completed and occupied in Mar. 1863. The trust was then annulled, and all proceeds from the sale of its securities were transferred to the College's Building Committee. The trustees were discharged on 4 Mar. 1863.

...