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Mr. LICK vS second DEED OF TRUST. Third To expend the jsum of seven hundred thousand dollars ($700,000) for the purpose of purchasing land, and constructing and putting up on such land as shall be designated. by the party of the first part, a powerful telescope, superior to and more powerful than any telescope yet made, with all the machinery appertaining thereto and appropriately connected therewith, or that is necessary and convenient to the most powerful telescope now in use, or suited to one more powerful than any yet constructed; and also a suitable observatory connected therewith. The parties of the second part hereto, and their successors, shall, as soon as said telescope and observatory are constructed, convey the land whereupon the same may be situated, and the telescope and the observatory and all the machinery and apparatus connected therewith to the corporation known as the Regents of the University of California; and if, after the construction of said telescope and observatory there shall remain of said seven hundred thousand dollars in gold coin any surplus, the said parties of the second part shall turn over such surplus to said corporation to be invested by it in bonds of the United States, or of the city and county of San Francisco, or other good and safe interestbearing bonds, atid the income thereof shall be devoted to the maintenance of said telescope and observatory, and shall be made useful in promoting science; and the said telescope and observatory are to be known as theL ick Astronomical Department of the University of California. BUILDING OF THE OBSERVATORY. Under the provisions of this deed, aB oard ofT rustees, composed of Messrs. R. S. Floyd, William Sherman, E. B. Mastick, Charles M. Plum, and George Schoenwald, built theO bservatory and transferred it to the Regents of the University on June i, 1888. The whole cost of the estab
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