This is probably one of the oldest as it originated back in my 2nd year at school in 1971. Michael Hart was given a lot of free (and very expensive back then) computer time and decided to try and store everything that could be stored electronically (and out of copyright).
So the concept pre-dates the web by 20 years and was there almost from the inception of the internet. Project Gutenberg is the first and largest single collection of free electronic books. Of course the book have to be proof read so that is why there are currently 20,000 titles available for download and 100,000 titles amongst all the partners of Project Gutenberg. If this is your kind of thing they are always looking for volunteers.
The website is of course a more recent addition to the project and is a Wiki.
Interesting the five most popular authors over the last 30 days.
Popularity: 6% [?]
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