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Recently, your Board of Directors was pleased to announce the creation of an endowment fund to provide for the long term care of the Laurel Hill property.
During the first ten years of the Trust's existence, all of our efforts and funds were expended in the acquisition of the property, the archaeological surveys by the College of William and Mary and general improvements throughout the birth-place of General Stuart. The time has now arrived when we must undertake the task of insuring that these years of struggle have not been in vain. The vehicle that we have selected to accomplish this is an endowment fund from which only the interest generated may be used while the principal amount remains intact.
Many of you may be curious to know the circumstances behind the selection of the name for our endowment fund. For many years, the Trust has had no stauncher supporter of its efforts than Mr. C. Hobson Goddin of Richmond, Virginia. During our most difficult days, he has always been there to lend his support and wise counsel. To honor Mr. Goddin, and in a small way express our gratitude for all he has done for the Birthplace, we decided to name the endowment fund in honor of his great-grandfather Captain John D. Hobson, C.S.A. of the 4th Virginia Cavalry who rode at General Stuart's side during the war between the states. Now, Captain Hobson is once again riding at the side of his chief of old, only this time the enemy is not the Yankees, but the forces of apathy and greed which so often today spell the death knell of our nation's historic properties.
To leave Laurel Hill as a legacy to the American people is a noble undertaking and one in which we hope that each of our supporters will want to be a participant. The fund is being administered by the firm of Branch-Cabell in Richmond, however you may send your contribution directly to the Birthplace made payable to the Trust with the annotation "Endowment Fund". We will consolidate the contributions and forward them to the Administrator.
This is the first step in insuring a long and secure future for the birthplace of one of America's greatest soldiers. Those that come after us will thank you for it.