New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-04-18

cannot therefore in dealing with the questions
sUninlitu 10 1 on Inc part Of those who founded or
contribute 10 support ~ As We o,a'; had in yie
ne doubt 20 induce others 10 endow IT, we ese s'ao
mcnt Of gifts ard promises made to II oy aneIent per
sons r. reported 10 Us by It's officers Ihe principal
donors. after ar Cornell, are sqoo 900 oo
s.,.,s<e OBSERVATION-DISCLOSURES. 40 900 90
A. D. Wni,e...................... s5g2S a
rs.e M ma c. .ic o. building $4,000 90
Dean Sage. chapel 9YUVyV ~
Go,lga Smh s4oH ~
i; lg5 y eni bcois sna botanical collection 900 90
smith pathological collection '''''''''' Ply w
nq' CT Ean so,sS a:.:. 1919 90
J.ba Bsoa Sweet typesstng mseblnes 1000 W
p 5 M Cornell to Lms $4,000 90
Ss5 s VIA ' NE Cornell. gin. e67S5 81
Aot,l ~ Assault 10
The f,orTissjon mas summoned all persons who were
named it as likely TO give information on inc ques-
tons submitted 60 II Tue testimony IS nanHeS % You
presence OF more OF the C0mmssloners NO tes-
hmouy offered has been rejected Mr.. Mcclure was IN
yed to eli the meetings OF the Commission ana to pre-
sent TO II questions of law or fact. - ~, T.,
The resolution of the Legislature requires us " to in
auire into aud ascertain the condition of the College
land grant"
THE GRANTS AND THE AGREEMENT.
The Congress of the United States by Chapter 1870 OF
the Laws OF 1901 granted every State $4,000 of
public lands for each Senator and Representative TO
which the State entitled under the of 1860.
Whenever there we're not public lands, subject TO
entry within the limits of State equal TO the
ty which it entitled, land scrip to be issued
TO such State supply the deficiency said scrip to be
sold by said states and the proceeds thereof applied
the purposes prescribed in this act aud for
other use purpose whatsoever" The proceeds of the
scrip were directed the he invested in stocks
OF the United states of the States other safe
stocks yielding not less than ave per contun on the par
The share Of TINS State was 100000 acres We have
public lands within our borders, and the whole OF our
" M ii Del
scnting 16o OF land piece OF land scrip entities
an Ordinary holder thereof 10 take AS the tech
nca phrase Is TO locate the quantity OF land mentioned
The act of Congress- however. provides that State
o. which land scrip NAV thus be issued be allowed 10
NJ any Territory of the United States, but "their
sssgnees may locate said land scrip upon any Of the
unappoprialed lands OF the ynteG states SUBJECT TO
The giant TO tins state of so much the land
serip could never rise much higher than 81 per acre,
Government lands being always III market at VI 20 inc
average OF sales OF tins scrip by u other States from
which We get little over So cents an acre. At
average The value OF the scrip given to the state OF
The scrip actually delivered 10 our state was, as has
heen said Isl pieces each representing acres max
inc ogetber 9s 900 acres 50 ceres short whole
amount piece being issued Tor less than 100 acres.
THIS sG s6 s6oo e S G at s Sc $40
~ tsGj i0j 900 acres al zoe 10 Mr. Cornell for bis bond
year. with the cohdSn aai all o. "a, PCS d mae
ysr@y e the residue Of the scnp, representing $500
This agreement made this 4th day of August 1866
neReen the people OF the sCate of New York. through
their Commissioners OF the Land ONCE, acting under
and by virtue of chapter of the laws of 1866, Of
the first part Ezra Cornell Of Ithaca, N " Of the
second part, witnesseth; ,
That the said party OF the first part hereby agree TO
sell and and deliver TO tine party OF the second
part all the agricultural and scr,p nov IN t1e possession
b7 certificates each representing loo acres on the FOL
Eirs That the said party Of the second part shall
ceve said from time TO time as The same can be
udicousy located in parcels representing not less than
Ok GOO acres paying therefor into the Treasury Of the
state on its assignment and delivery 10 him by the Con-
" me Tinted states or OF the state of New-York or in
other good stocks bonds TO be approved by
terest per aunum, aud the time deposng with
the Controller stocks or bonds TO be approved by him. to
AN amount equal TO additional 80 cents per acre, as
security the fulment by the party OF the second
part, of the cOnnI4ns VI tnn ~, ,s so M az 10y
land TO be entered and located with said scrip. on the
fnIamept of which said stock or bonds 80 deposited
serry shall be returned TO said party OF the second
part TN. 49,, o,r ,arcei ~ acrin sold and da,,,,
cred fo the ad party OF the second part under by
Urine Of this agreement shall have been located by him
OF nns Thai he Will without delay furnish to the COM
missioners OF the Land ONCE OF TINS STATE or 10 some
RoarS full aud complete list and description of the
land located And the said Board OF Commissoner
shall within at least sixty days thereafter, and from
time 10 time su bsequeny, may be found expedent,
Ak minimum valuation by quarter sections at which
part And party of the second part further agrees
that he will annually ana from time 10 time, Wneh-
ever required by the Commissioners Of the Land
Office render for their information to the Controller
a full, Just and true account OF all sales ana
made by him. said report to be made In such form
and under such Oaths the Controller shall direct, and
will pay into the Treasury OF the state the whoe Oh the
net profits asin the rerom, which shall be ascertaned
by oeductng from the gross receipts on sales the
original of 80 cents acre. the cost and expenses
attending the location MANAGEMENT ana sale OF sara
party of tue second part and the Interest at the rate OF
per cent per annum the several amounts ac-
tually expended and Liabilities incurred for such puT-
D,lseS )
second part that he will not sell any portion OF said
lands at price below the minimum valuation thereon,
which may from time % time be fixed by the Commits
soners OF the Land Office without hrst obtaining their
consent 20 do 80 In wrltirg.
Third That the stipulation and conditions Of agree
shall apply to each and every parcel OF scrip
sgued aud delivered TO said party OF the second part
under this agreement and the Controller shall defer
suspend further assignments ana deliveries of scrip
whenever the party OF the second part fas TO perform
such spulatiODs aud conditions IN respect 10 any scrip
sold aud delivered 10 him under this agreement until
they have been compiled with except, nevertheless,
that stocks bonds security fer the return aud
mortgage OF lands located under scrip TO the party of
the second part shall In no be required when there
shall remain in the hands OF the Controller by virtue OF
this lands not released equal IN
quality the SCRIP which be issued the party OF
the second and remain not located and norgaged
as provided by this agreement
Fourth That often and whenever the party OF
the second shah furnish description OF any Of the
land selected and located b. him under and by virtue OF
said scrip, he shall Immediately execute mortgage
thereon 10 the people Of this state be approved by
the Attorney General conditioned that the party Of
the second part VIII fully keep and perform each and
every OF the terms and conditions he required do
keep and perform ,,.
,oent and suit suits at law In equity NAV be.
fIo, time 10 time, Instituted and maintained thereon
nd von any ali VI said mortgages for violation