Scheme of a Lottery, for raising 3000 Pieces of Eight, for the
The Purchase of Ground
and Buildings for the Academy, the Alterations and Improvements
that were necessary to accommodate the Scholars, and the furnishing
of the several Schools, having, all together, prov’d an Expence far
beyond their first Expectation, the Trustees, desirous as soon as
possible to compleat their Plan, for the Good of the Publick and of
Posterity, find themselves under a Necessity of obtaining some
Assistance by way of Lottery: And as several Lotteries have, since
the Founding of this Academy by Subscription, been carried on and
encouraged here for the Benefit of Schools and Colleges in the
neighbouring Provinces, ’tis hoped it will not be thought less
reasonable that we should at length have one for the Benefit of our
own. Those who in this way have lately contributed liberally to
Matters of mere external Ornament to the City, will
doubtless more chearfully encourage the Academy; an Undertaking
which aims at adorning the Minds of our Youth with every
Excellence, and rendering them really useful and serviceable
Members of Society.
The Money to be paid to the Possessors of
Prizes as soon as the Drawing is finished, Twenty per Cent. being
first deducted from the 93 larger Prizes; but the 1000 small Prizes
to be paid without any Deduction, which reduces the Deduction on
the whole to Fifteen per Cent.
The Drawing to begin punctually on Monday the
20th of January next, or sooner if sooner full. The Prizes to be
published in this Gazette.
The following Persons are appointed Managers of
this Lottery, viz. Messieurs William Allen, John Inglis, William
Masters, Samuel M’Call, junior, Joseph Turner, Benjamin Franklin,
Thomas Leech, William Shippen, Philip Syng, Phineas Bond, Richard
Peters, Abraham Taylor, William Plumsted, Joshua Maddox, Thomas
White, and Thomas Cadwallader, who are to give Bond, and be on Oath
for the faithful Performance of their Trust.
Prize-Money not demanded within six Months
after the Drawing is finished, to be deemed as generously given to
the Academy, and applied accordingly.
Tickets will begin to be sold by the Managers
at their respective Dwellings on the 22d of October instant.