Steps were taken by the Board to endow the fourth professorship in the College. [Illustration: REV. JAMES R. THOMAS, LL. D., _President Emory College, Georgia._] Rev. John Early, agent, reported that further efforts to endow a professorship by the Georgia Conference would be suspended, that Conference having resolved to establish a College in its bounds. The amount reported as raised on said endowment was $16,000. He also reported the amount of endowment raised in Virginia as $20,000. At this meeting we have reported the first intimation of financial embarrassment in the affairs of the College. Notwithstanding this the salaries of the full professors were raised to $1200 per year. The acting president, Landon C. Garland, was appointed to prepare an address on the pecuniary condition of the College, the same to be published in the papers. Professor E. D. Sims having returned from Europe, Rev. William M. Wightman, Professor of English Literature, tendered his resignation, which was received with complimentary resolutions to him for his efficient services. Prof. Wightman returned to his native State, South Carolina, and to the itinerant ministry. The Faculty as reorganized for the session of 1838-'39 was as follows, viz.: LANDON C. GARLAND, A. M., Professor of Mathematics, and Acting President. EDWARD D. SIMS, A. M., Professor of English Literature and Oriental Language. DAVID DUNCAN, A. M., Professor of Ancient Languages. JAMES W. HARDY, A. B., Professor of Experimental Sciences. EZEKIEL A. BLANCH, A. B., Tutor. SOLOMON LEA, A. M., Principal of Preparatory School. This college year was marked by the first serious rupture between the Faculty and the students. The occasion was a requirement made on the Senior Class to attend a recitation on the "Evidences of Christianity" on Monday morning before breakfast. The result was the leaving of a number of students involved in the contest. At the close of the year, June, 1839, the annual report of the Faculty made to the Board gave the following item: "The affairs of the College for the session have proceeded with tolerable prosperity and quietness." The following were recommended for the degree of A. B., June, 1839, and the same received it: AMOS W. JONES, . . . . . . . . . North Carolina. CHARLES W. BURNLEY,. . . . . . . Virginia. JOSIAH F. ASKEW, . . . . . . . . Georgia. THOMAS H. GARNETT, . . . . . . . Virginia. JAMES F. SMITH,. . . . . . . . . South Carolina. WILLIAM H. BATTE,. . . . . . . . Virginia. [Illustration: REV. A.W. JONES, D. D., _For fifty years President of the Memphis Conf. Female College._]