New-York tribune., 1867-10-16
THE CORNELL UNIVERSITY.

The last report of Ezra Cornell to the TnIs-
tees of the Cornell University shows that he has
located about 100000 acres Of land with the New
York College land scrip, under an agreement with
the State for the purchase of the scrip aud the To-
cation and sale of the lands for the benefit of the
Cornell University. Every quarter section of this
land has been carefully examined by competent
judges employed by Mr. Cornell for this service before
the entry made thus securing the location OF such
lands only as possess positive value. OF the lands
already located 100000 acres are white pine timber
lands lying in the valley of the Chippewa River
and its tributaries in the State of Wisconsin, of
the best rivers for numbering operations in the West
few facts which we have collected relating to the
cost of getting this timber to market establishes tho
present value of those lands clearly todivest
the subject any speculative character and to show
the positive results that may be realized from invest
ments therein. They are as follows:
First The land will furnish from 100000 to 5000,
600 feet of lumber to the quarter section At least
900 feet per quarter section is believed to be
low and entirely safe estimate for the average of the
whole This is 10000 feet per acre.
Second: The total cost Of cutting marking and
hauling this timber to the streams, and driving it
down to the booms, where it becomes salable, and
has trustworthy commercial value is trite under
s3 per thousand.
Third: The present cash value of such logs in tho
booms on the Chippewa is sl2 per thousand. This
fixes valuation of 50 per thousand for the pine
trees as they stand in the forest and $50 per as
the value Of the standing timber those pine lands
The Trustees of the University have authorized
Mr. Cornell to sell 100 900 acres of those lands at s.
per acre and to carry this project into effect, he is
soliciting subscriptions to the capital stock of the
"New-York Lumber Manufacturing and Improve
ment Company" under charter from the Legisla-
ture of New-York which cOnfers authority on the
company to purchase. acquire rent, and hold all such
personal and real estate they may deem necessary.
and to SELL assign and convey otherwise dispose
of the same, and power requisite for the purchase.
Improvement and sale of timber and other lands,
the manufacture and sale of lumber, the improve
ment of a tOwn-site and water power, and the sale.
renting and leasing thereof in the State of Wiscon
sim
We believe that investments in the stock of this
Company will prove to be safe and profitable, and
we hope the friends of practical, scientific educa
tion which this enterprise is designed to foster and
who have money to invest will speedily taks up this
stock and thus supply the University with additional
means for carrying forward its great work
The Trustees of the Cornell University, at their
last meeting. adopted programme which Will soon
be placed before the people, for opening the insti-
tuition to students on the third week in September,
1863 1t will commence its instructions with faculty
who are to be paid $4,000 per annum and with
accommodations for 1000 students The present re-
sources of the Trustees for carrying out this pro-
gramme are as follows: $35 900 per anum, from the
income of the donation from Mr.. Cornell upon which
the Institution was originally founded and the in
come from the college land scrip fund, which amounts
already to about $4,000 per annum TO which may
be added the products of the farm-say net 5000
making an aggregate of $4,000 per annum.
They will have for use at the commencement, the
farm buildings and apparatus, which will have cost
about s250,00O.
1t is apparent therefore, that the further progress
of building and improving the grounds of the Uni
versity must be suspended until the funds of the
Univer ty are strengthened by proceeds from the
sales of the lands