Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-05-20
WEST TENNESSEE COLLEGE.
historical Resume---Its Present Condition
as Reported by the Treasurer Of
TIE Beard Of Trustees.

To the Board of Trustees West Tennessee
College:
The undersigned. Treasurer Of West
Tennessee College, in pursuance Of a res
OIution OF the Board adopted on the jOth
ultimo, directing him TO report the imam
ciaI condition of the institution, be8s
leave to submit the following report;
The General Assembly OF this State
passed a resolution on the 9th Of Janu-
ary, 1893, memoriallzing Congress, pray
ing the rslinquishment of the lands south
and west OF the Congressional ReserYa-
ton line, not Appropriated by the North
Carolina military warrants, TO the pur-
pose of education, declaring among other
things, "that in the event the Federal
Government shall hereafter reliquish 10
the state Of Tennessee the vacant lands
south and west Of the Congressional Res
ervation line, the amour Of forty thou
sand dollars out of the sale Of these lands
shall be set apart as a perpetual fund for
the support OF College in West Tennes-
see."
Congress passed an act dated the 18th
of February, 1S4l, directing the state OF
Tennessee to hold the funds arising from
the sale Of these lands, subject 10 the
order of the Treasurer of the United
States: and for some unknown cause did
not deem it expedieHt TO aecede 10 the
prayer OF the memoriaiist, but supposed
by the undersigned TO be because there
was az that time no regularly organized
college in West Tennessee.
All act of the General Assembly was
passed on the Sd OF January, 1S4i, ineor-
pOrating West Tennessee College, located
at Jackson, Tenn. WbersupOn, at the
next session of the General Assembly, an
act was passed on the 4th day of Deem
Der, 1916, again memorializing Congress
on the same subject, and praying that of
the money already in che hands of the
treasurer of the State, and thereafter TO
be received the sum of forty Thousand
dollars, be appropriated to the College
at Jackson, Tenn.
In response to this memorial, Congress
passed an act dated the = day Of -,
1s4-, directing forty thousand dollars to
be appropriated and paid over to this in
stituLiOn, which was accordingly done.
With this fund the trustees purchased
forty thousand dollars Of Tennessee 5 per
cent. bonds, maturing in thirty years,
and, together with other means belong
ing to the institution, purchased fourteen
acres of ground in the eastern part of the
city, upon which was erected a handsome
and commodious brick building.
The Trustees have kept said bonds as a
sacred fund, for the support and main
tenance of the College, and have them
nov on deposit at the Third National
Bank in Nashville, for the more convent
emit collection of the interest on the same.
The annual interest accruing on the
bonds has been applied to the payment of
the salaries of Professors, except the
years during the war, when the interest
on the bonds accumulated. Owing to
d~epredations made upon the building and
grounds during the war, large expendi-
lures we're necessary to repair the prop
erty and render it tt for college purposes.
The Board of Trustees therefore ordered
the proceeds of the accumulated interest
to be expended for that purpose. With
this accumulated fund we have had our
building repaired, and the grounds neatly
and substantially inclOsed, costing in all
si~xty-iVe hundred and ninety-six dollars
and thirty-four cents (S6, sos 34) in cash;
sixty-three hundred and twelve dollars Of
which was realized from the accumulated
interest, leaving $751; "a still due, and
] about 500 due for repairs of College in
closure, on account of destruction done to
the same by Tennessee State Guards
during their occupation of the place;
showing the liability of the institution to
be only two hundred and eighty-fOur dol
lars and thirty-fOur cents.
The real estate belonging to West Ten
nessee College is reasonably worth thirty
thousand dollars, which, with the forty
thousand dollars of bonds, aggregate a
capital of nearly seventy Thousand dol
lars, with a liability of less than three
hundred dollars. These facts show that
the Board of Trustees have not only been
true and faithful to their trust, but have
managed the fund of West Tennessee
College with wisdom, economy and ideI-
ity.
For t~wenty-six years an institution of
learning@ high order has been kept mp,
with ar ~Rttendence OF students at this
time of go, with a corps of teachers rep
~resenting States OF the Union which suf-
fered the severest trials and losses in our
late troubles and fully impressed with
the necessity of labor, and the value of
education
The Board of Trustees of West Tennes-
see College rave great cause TO be encOur-
aged for the future of the institution.
Respectfully submitted.
r. B. HURT,
Treas. Board of Trustees.
Jackson, Tenn, May II, 1870.
SHETLAND SHAWS-A complete assort-
mant at ra6Aaad nriqoS-