The Board of School Commissioners of the City of Baltimore is hereby authorized: to accept and receive the premiums given by the Trustees of the Peabody Institute to the High Schools of Baltimore City, as specified in Mr. Peabody’s letter to his trustees; and to have the same distributed from time to time in such a manner as it shall deem most conducive to the benefit of the schools and the objects of the donor. City Code, 1879, art. 43, §43 1893, art. 44, §51 1927, art. 41, §51 1950, art. 32, § 21 1966, art. 24, §12 1976/83, art. 24, §13 Ord. 48-433