Endowment Fund EstablishedAt this time Mrs. P. T. Talbot of San Marcos launched the Academy endowment fund with a gift of $200 to which two faculty members added $50 for a grand total of $300. From this beginning the endowment has slowly but steadily grown.
President Cavness resigned his position and left the Academy to report for Naval duty in Jacksonville, Florida on March 10, 1943. At that time, the Board of Trustees appointed Mrs. Alice Lane to serve as acting president of the Academy, marking the only time in the school’s history that a woman has served as president of the school. Until that time, Mrs. Lane had worked for 12 years as secretary to the President, while also teaching at least one class in the commercial department. The Senior Class of 1944 dedicated the Crest yearbook to Mrs. Lane, “because of her consistent loyalty to the school and her genuine interest in us, and because her grace, dignity, charming personality, and uplifting ideals have been an inspiration to entire student body.” The Crest dedication page also noted that “Mrs. Lane performed the duties and responsibilities of [the office of president] in a most capable manner.”
The Board soon elected as the next president Mr. Roy R. Kay, who assumed his administrative duties June 1, 1943. During his administration many improvements were made in faculty housing on the campus.
The operation of the school continued to be financially sound during President Kay’s administration. The endowment fund grew from $4,650 to $25,671 during these years. A liberal contributor to this fund was Mrs. L. W. Alexander of Waco, a member of the Board of Trustees. Mr. Kay concluded his tenure on July 1, 1946.
Mr. R. Wilbur Herring assumed his duties as Academy president on August 14, 1946. President Herring appointed Mr. Hugh E. Proctor to serve as Dean of the Academy, beginning September 1, 1946. President Herring’s administration ended with the close of the regular school session 1947.