The north Iowa times. [volume] (M'Gregor [i.e. McGregor], Iowa) 1856-1857, 1857-09-30
MGREGOR WEDNESDAY SEPTEMBER 80, 1857
New Enterprise-ACollesei in Fayette

New nterprise-AC College in Fayette
The prospects of Fayette are growing
brighter every day--its star is in tn,
ascendant. In addition to the man,
improvements that are being made here
there is another enterprise in progress
more important than any of the rest.
Key. +. G. BYAM, the efficient and
indefatigable agent for the Seminary il
this place, has for some time had il,
contemplation, and has now nearly com
pleted plan, both for discharging the
indebtedness of the Seminary, procur.
ing library, apparatus, ETC., and fol
enlarglng the original scheme, by build.
ing College to be conducted in con.
nectlon with the Seminary.
Mr.. BYAM has favored us with the
following outlines of the enterprise
Its basis is the donations of land which
have lately been made. He has obtain.
cd from various individuals, the dona-
ton OF 400 acres of land, which has
been decided for the above purpose. He
also has the pledge of 100 acres more
for the same purpose, which is to be
conveyed by deed in short time
The whole amount donated, then, is
500 acres. .4 ar ..-. -s.. . ..o
This land lies in a square form adioin-
ing the town plat on the south, and is
situated ON an elevated prairie, unsur-
passed in beauty or location. IL
The plan of the ente, prise was to Law
out part Of this land into village lots,
and to raise the required funds BY sale
OF these lots. The surveys and plats
are now nearly completed and, although
the project has scarcely been matured,
no less than so lots have already been
sold or contracted, on an average of
500 per lot.
AS to the value of the original Dona-
ton, it could not we'll be placed at less
than $4,000, even aside from the aug
mented value arising from the improve
ments to be made on the premises.
1t is the intention to Law out 5000
lots In all and if each of these sell
only tor the average price of those al
ready bought. they will produce the sum
Of 100000, which will be sufficient
Tor the purpose intended. In a few
days 1000 Of those lots will have been
laid out ready for sale. ..'
Mr.. BYAM has already obtained agree
ments from responsible persons, for the
erection OF several substantial buildings
on the new premises within the year,
most OF which are to be of brick and
this, we suppose, is but small part Of
what is to be done.
The College building is to be 100
feet long by SO wide, aud four stories
high, exclusive Of the basement. The
basement is to be built of cut stone, and
the rest of brick.
The deeds of the above mentioned
land are given to the Trustees of Fay
cite cite Seminary, in trust for the Upner
and the new building IS to be construct
ed under its superintendent. The
work is to be commenced early next
spring. s. r..' "a. s.. .=,rt
The enterprise is undoubtedly feas-
ible one and there can be no failure, if
one tenth part as much energy and skill
shall be manifested in its completion as
has been employed in originating and
carrying it thus far. ...I...
We have heard it remarked by res
ponsib!e person, who is abundantly able
to fulfill the proposed contract, that he
has offered and still offers to erect Col
lege buildings costing $50. 900 and also
discharge all claims against the Semi
nary, and take in payment therefor the
land donated as above mentioned. We
understand that the Trustees are not
willing to accept the offer, being salts.
fed that the property will yield much
larger sum. ......
In placing this undertaking on firm
basis, Mr.. BYAM has rendered an impor-
tant service to the community, and mer-
tied the cordial appreciation of every
friend Of the Institution. He has also
managed the affairs of the Seminary in
such manner as the most cautious must
appreciate. He found the finances of
the institution in confusion-its funds
exhausted and the building unfinished,
the walls only being completed. He
freed it from embarrassment-rai raising
over 50, ,Ooo by subscription placed it
in successful operation, and at the ex
piration of the year, will leave it with
funds sufficient to pay all demands
against it and a great deal more. What
other person could have done the same?
1t is expected that he will ask to be re-
leased from his present position at the
next Conference; if SO, he will have the
best wishes Of all really interested in
the prosperity Of the Institution and
his place, it will be hard to till.-Fy-
cite Journal "1
BALANCE OF TRADE FOR THE YEAR
l857.-From an elaborate statement in