The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-01-22
MARYLAND.

Meeting of the Trustees of the Peabody
Southern Trust Fund i'm BaItimorc-Movc-
ments of General Grant and Admiral Far
rngut.
BALTIMORE, Jan. 81, 1859.
At twelve O'Clock to-day the trustees Of the Pea
body Fund met at the Peabody Institute. all the
members being present except Messrs. Bradford OF
Louisiana; McAllister, OF Pennsylvania, and Rives
OF Virginia, the latter deceased. General Grant and
Admiral Farragu WERE OF course the lions Of the oc-
casion, and as they drove from the Camden station
to the institute were cheered by crowds Of people
the streets and sidewalks The meeting was called
TO order by Robert G. Winthrop, OF Mass President,
and Bishop McIlvaine read prayer, after which
Mr.. Samuel Wetmore, Treasurer, and DR.. Sears, of
Va, general agent, submitted the reports Of their
operations for the past year.
Mr. Wetmore's report disclosed a satisfactory
condition OF the trust which originally consisted Of
100000 in United States coupon bonds and
$1,11O. 900 in Mississippi State bonds. The coupon
bonds have In the past year been changed to regis
tered bonds and have increased In value at
least $4,000 The exPenditI Tres Of last
has accrued on the bonds and the principal there
fore remains untouched although by the provisions
cent OF 1t II they had found 1t necessary.
DR.. Sears report, which will be soon published,
for the purpose of establishing schools and explains
the manner in which he has performed this labor.
He states that has been his custom to call together
the leading citizens OF the nelghborhOOd in which
he proposed to establish school, and. after learning
the condition OF their educational prospects, offer to
assist them by small donations from the fund.
Sometimes he found 1t necessary to donate Onethlrd
and even twO-thirds OF the amount required while
the citizens themselves subscribed the remainder.
Many II not all OF the schools thus established will
be self sustaining at the end OF the present year, and
then the fund can be directed to broader and newer
field OF enterprise. His recent JOurneyings have
been confined to Tennessee and Arkansas In the
latter State he proposes to establish schools In Ma
poleon, Little Rock, Camden, Fort Smith and q few
other points. He reports that he found the people
generally were ready and anxious to assist the OBJ
ject of his mission.
After reading and accepting the reports the Board
adjourned until tomorrow. when the important
business of the session will be the selection OF sue
cessor to Mr.. Rves, of Virginia.
After the adjournment General Grant and Admiral
Farragut accompanied by Others OF the trustees and
several prominent Baltimorians, paid visit OF in
specti0n 70 the tobacco factory OF Messrs. Gail &
AK, where they partook OF an elegant collation..
Subsequently General Grant returned TO the
dwelling OF Mr.. w. ]. Albert. where he dined with
select party OF friends Admiral Farragut and the
trustees were entertained with dinner at the Mount
Vernon House. Tonight General Grant is present
at a private reception at the house Of Mr.. G. II.
Eaton. Tomorrow the entire party will visit the
Canton Iron Works, and at night another private
reception In their honor win be held at the residence
of Mr.. Albert. on Saturday General Grant will hold
public levee under the auspices OF the city authori-
ties, and win return to Washington in the evening
train.