Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1873-04-02
\ THE CENTRAL UNIVERSITY.
The Question Of It's Location Disposed
Of-NashVille Selected.
Conditions Of the Donation by C0mmO-
dOre Vanderbilt, Of New York.

EDITORS APPEAL-I have read tn,
morning papers of this city in vain, anC
so will you, for a correct account of the
proceedings of the board of trust having
in charge the interests of the Southern
Methodist university, to which. a.
everybody knows, the sum of five hun.
dred thousand dollars has been offered
by Commodore Vanderbilt, of New
York. So l send an outline report OF
the called meeting of the board, held in
the McKendree church, March 26th,
the proceedings of which have not been
officially published, because, as 1 under
stand; il was deemed courteous that the
secretary should first transmit them to
Commodore Vanderbilt. But they are
not secret-the members of the board
are allowed to communicate what was
done at their pleasure, and so many
hereabouts have been told all boaut the
days doings.
The board having assembled, with
Judge Milton Brown, of Jackson, presi-
dent, IN the chair, and DR.. ID. c. K ell
ley, secretary, at his table. Bishop Nc
Iyelre, after remarks pertinent to the
occasion, submitted a document ad-
dressed to him by Commodore Wander
bilt. 1t was read and received, contain
ing the following important items, viz.
Flrst-An offer of five hundred thou
sand dollars to the corporation known
as the Central University of the Meth
odist Episcopal Church, south.
Second-GrOunds to be selected, not
less than from twenty to fifty acres.
Third-Plans aud specifications for
buildings to be approved by the commo-
dore.
Fourth-The money to be advanced
10y him as needed, for the grounds and
buildings.
Fifth-When ready for opening the
university, the library fund and the en-
dowment fund to be conveyed by him
to the board.
The document contained also the fol-
lowing conditions, viz.
FIrst-BishOpMcTyeire to be president
of the board of trust, with a salary of
three thousand dollars per an
mum, and a dwelling-house, on or
near the grounds of the university.
Upon his death or resignation, the office
Of president to be filled by the board.
Second. The president Of the board to
have veto power over all measures
adopted 10y the board-which, however,
mSy be overcome by a three-fOurths
vote of the board.
Third-The endowment fund, which
viii be invested in nnumber-ones securities,
SAY seven per cent. first-mortgage bonds
of the New York Central and Hudson
River rsilrOad) TO be intact-the inter-
est on revenue only used for the univer-
sity.
FDurth-The university to be located
in or near Nashville.
The board unanimously accepted the
offer with its conditions, not for q mo-
Notwithstanding doubt that the bish-
ops, with whom the location remains,
will be glad to unite with Commodore
Vanderbilt upon Nashville, as the site
of the university. The board also unan-
imously resolved in favor of adopting
the name Of Vanderbilt University"
an honor of the commOdore, who has
thus laid the foundation of magnifi-
cent institution of learning.
The veto power of the president of the
board is first-rate feature, and so is the
provision of a salary for Bishop Nc
iyeire in that office; his services will be
invaluable. Though, of course, this ar
rangement is personal, somewhat, the
bishops wife and the commodOre's be-
ing first cousins, which suggests a mo-
tive for this great kindness, in addition
70 the wisdom of the arrangement on
business principles. And, by the way,
Mrs. Vanderbilt, formerly of Mobile, is
southern Notwithstanding in DIR.
Drew's "Church Of the Strangers New
York.
Nashville, you may be sure, is full of
rejoicing over her good luck, and
we'll she may be, in getting SO grand a
prize. No city can be expected to pre-
sent as strong an offer for the location as
Nashville now does, with the financial
inducement given by Commodore Van
derbilt in her favor. But if the cOmmo-
dOre had seen fit to hold out the prize to
Nashville or Memphis, wouldn't our
folks have piled up the greenbacks? 4?
Surely, Nashville will show her high
appreciation Of the occasion by a hand
some donation TO the university-say,
one hundred thousand dollars.
CITIZEN.
NASHVILLE, March %, 1875.