Cornell History: Trustees meet
September 05, 1865
The Cornell Board of Trustees holds its second meeting at the Cornell Library in downtown Ithaca. The trustees elected permanent officers (Ezra Cornell, Francis M. Finch and George W. Schuyler) and appointed four primary committees, including a Building Committee that was given the task of selecting a site for the university. Ezra Cornell signed over $500,000 to the university to be paid over 10 years, with $700,000 in Western Union stock as collateral.