Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-12-19
a SCHOOL FUxD.


VS. publish this morning 81 eXplana-
ti5n o. the psrt the Tennessee National
Rsnk Played il connection with the
school fand," Of which 90 &Eeh hzs
besn said by the APPEAL, and the press
Of The Stale generally. From this state
msnt, furnished by Mr. RUTTER, late
President q the unfortunate bank, il
will be seen that the State is fully and
amply secured, if only the figures which
he furnishes shall prove the correct rep
resentztivss OF tie values he gives them.
L, In addition 70 S62 500 in cash, the
bsRk has S259. 600 in property and $780,
600 in security, to reimburse the State,
principal and interest, for the $50, 0G0
she now owes her, We congratulate both
the ofiesfs OF the State and the officers
OF the late bank; and, We may be per-
mitted 20 sdd, the poor, tsx-ridden peo-
pie, and poorer children 10 whom this
fund belongs.
Bat If this showing Of the late Presi-
dent OF the late Bank be correct land
we sre in no position 70 dispute it, what
possible objection could the authorities
OF The State have hs3 10 making it pub
ic long since. in answer 70 the demands
OF the people, sad 90 setting at rest this
very vexed question? Why, if thess fig
ure5 are correct, were they not given by
the Bank more han a month sgo, in
answer 20 the repeated questioning OF the
APPEAL? Why hiss so simple = show
irg. Of 50 vital 8 concern 70 the State,
been postponed until the verge o. public
patience has been reached and all are
olanorcus for Whist concerns ali2
Leaving shese questions to he answered
by those whom they most nesrly con-
Germ, 1t rs examine these figures. And
fist IS 10 the SEQ $50 security. From
Rn examination o. the Court records, we
hut that the persons standing pledged 70
the State IL that amount refuse 20 surcen-
der ii, OF thar il shsn in any sense be con-
sideTed ss protecting the " school fund.
they say they pledged themselves jointly
il that amount 70 protect the State
sgains. fraud upon the p8r5 Of The
bank and It's c6lcsrs, only 50 fsr a. the
"tscdl fund" OF the Stste wss con-
cernsd. True, the dispute has been
carried - tie coUyts aud there viii be
disposed o.. Yet il ia in dispute, snd in
that condition cannot be ssid 70 or
protect the "scho0l fund.- Like Ma
LCmeJs cofia, il Is betwixt and be-
tween and there Is no knowing Wbeth-
er Il will " 60 up" OF come down. Then
as to the S6a510. # the Receiver has that
amount lu hand he should at once return
il 10 the state, that the school children
nay realize such benefit ftem /. as by
interest may seCTus; sud the available
property Of the bsuk should promptly be
brought to the hammer for the same rea-
so3. So also Wi.A the available assets
il they really are avsiiabls. We
present these considerations for the
careful ShG caEc;d thought Of Gr. RUT-
TER, aud OF the state authorities. u Lie
Usgsts are available, oad he propsrfg,
and the So. 500 IS Oh hand IN currency,
are see 40 Hscessi'g for Geicy ire closing
1rih the Ssats. restoring the missing
school 64id, and protecting tie securities
q tie bank ard the S5ats from farther
and ergeasirs AsigGti2a. II these
figures Of Ar. RUTTER are correct, he
oaG answer promptly sad wind up as
satisfactorily a. we suggest g matter that
has already occasloned mUch vexEt.On.