, 1863-05-05

Annual Statement of the Board OF
Directors.

We are happy 10 acknowledge the good
Providence OF God which hls enabled us, even
in these troublous times, to keep the Semi
nary in all its departments In successful opera.
ton another year. The number Of students,
as ia most other educational Institutions since
The war commenced, has been smaller than in
former years. The total Of names on
the catalogue was eighteen; one resident
graduate, seven in the Senior class. six in the
Middle and four in the Junior. Two Of the
Seniors have been in the army, leaving but
i've 10 graduate at the late Anniversary, The
Azuani of the Seminary now number thirty.
Several others who have fora time enjoyed the
benefits Of the Institution, are doing goodser-
vice in the ministry.
The total caeh receipts to the treasury from
all sources and for all purposes Except for
aid Of indiyent students) from April l, 1862,
to April l, 1865, were s1s,29S,4s, Total dis,
hursemcuts during same time, SIS. .1S5. Is.
Leaving balance in the treasury Of S123.5s.
During tho Same time the debt On the Sem
mary site, Of about r. MSl7,ooo, has been COM
The sale Of unoccuried portions Of tie site,
and in part By donations and collections made
for this purpose, almost wholly In Chicago.
Through the aid Of liberal contributions from
a few friends Mt the East, the Indebtedness Of
the Seminary to the Professors for arrears Of
salary has been reduced from abont ST, 600 to
a little more than 1000. Other debts hare
also been paid, diminishing the liabilities Of
the Seminary from $as, 49, (amount April
/, 1sG9) to $S,00.5o, (amount April, 1sG3.) J
| DimInution during the year. $50, 4D o..
The Assets Of the institution-consistingo Of
| subscription notes not yet available and only
In part due, seminary site, library, office fur.
! tire, balance in the treasury, and real estate
in various parts Of the country-aftcr deduct
ing notes supposed to be worthless, exceed
| the liabilities by about IS, 600.
A liberal offer has lately been made By Dea.
Philo Carpenter Of Chicago, toward the per-
manent endowment Of the institution, viz, &
| pledge Of &C, 600 for the fonr ProfesserEhlps
needed, on condition that $s0, 100 additional
shall be raised for each Professorship- or
5000 for any one Of them that may be 80 en-
! dowed. The Board at its late meeting re-
solved to enter at once on vigorous measures
| to secure these endoWmenfs By special sHb-
scrirtion, assigning one Profcssorship to I'LL
nois, another to the States OF Wisconsin. Mich
iean and Indiana, another to the States west
| Of the Mississippi, aud the fourth to the East
ern States. We hope that tie friends Of iheo.
logical education, both East aud West, will
welcome the agents of the Board as thcy come
soliciting these tunas.
As necessary means Of sustaining the in.
stitution while tho work Of cndowment is IN
pTog7efs, the churches OF the West are urged
10 continue aud enlarge their annual contri
buttons for tie Professors Fund.
The appropriations Tor the support Of indi
gent students have thu past year been ria.l.
| IHA haluOAL 1ctFlu y Atul Otl Liz
Educational Committee. This desirable con
ttast to f'rncr years is partly the resul, Of {
fever number Of be,,cfriaries, but chiefly tA1
result Of extraordinary eff"rts By the Chicago
ladies'. As there is prospect Of an increase
number Of students nexl year, it is hopcs
that ladies in the country will do more fo
this object, to meet the emergency.
Bv order Of the Board Of Directors.
Il, L. HAMMOND,
J. E. Roy,
CHICAGO, Nay s. 1ss;3 Committee.