Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1874-04-17

Odh RIG JiottCIOu
md sufficient parts of them fully pre-
pared for Use as will probably be nee
: essary for the accommation of such s.
lumber of students as may be reason
81 ably expected for several years, at 9
cost far less than would be required
for thorough repairs. The other parts
= can be fully renovated as the patron
8age and means of the Institution shall
4sncrease.
In regard to the lands belonging to
5 5he University the Committee could
8obtain but little information. They
= had hoped to have the assistance and
Nhearty cooperation of Mr.. II. W.
= Lassiter, the former Treasurer, whe
Had, by letter, courteously rendered
his aid, but from some cause, to the
5Committee unknown, they failed to
realize their expectations. From re-
Eport made by this gentleman to the
+ former Board, dated November 10Th,
81 1872, it would appear that the Univer
a sity owns a large and valuable estate
in lands in Buncombe, Henderson and
Madison counties, and that they are in
charge Of Messrs. Woodfn and Nc
Leod, Attorneys, residing at Asheville
Their quantity and value are unknown.
Besides these, there are one or more
Stracts lying near and contiguous to the
Village of Chapel Hill, amounting to
x seven or eight hundred acres. A sur
vey of these will become necessary in
7order to determine their extent. It
has also claims, of more or less
strength, to valuable lands lying in
Z Gibson, Obion and Lake COMMITTEES in
4West Tennessee, the interest in which
His under the control of Attorneys in
that section.
The Committee would further re-
: mark that the late John Calvin Nc
Nair, of st. Pauls, in Robson county,
is understood to have devised to the
q university a valuable landed estate ~
zaing in that county, subject to the life
Hesitate of his mother, who is far advsnc-
He'd in years. When this estate is de-
9 termincd, and the property and uses
: vested III the University. it will be
worth several thousand dollars.
In regard to the personal assests, the
8Committee would say that,in the report
: Of Mr.. Lassiter to the former Board
made November 10Th, 1872, it appears
: that the sum of 1913 96 i'll cash was, at
that time, in his hands, besides bonds
s and other evidences of debt and public
s securities, amounting to 1921 go. A
S part of the public securities are depos-
tied in the Bank of the Republic, in the
: city of New York, a part in the Raleigh
National Bank, and part, amounting
#to $50, 100 aye hypothecated with the
: Treasurer of the Board of Education
Ito secure a loan. Some OF the North
SCarOllna bonds were issued before
A1S61, but the greater part Of them are
: Of that class generally known as special
atax bonds. The bonds are the pro
Aceeds OF Sl22, 600 i'll cash, received
5$from the Bank of the Republic, III
Spayment OF the land scrib donated by
8the Federal Government, which money!
a was received 10y Mr.. Las>lter as Treas
sSnrer, and, As he says, invested AS
g above, by order of the Board of Trus-
Stees.
81 The duties imposed on the Commit !
sStee by the resolutions of the Board, it
= Wall be seen by reference to them, are
Every comprehensive, aud their full dis
iScharge entlrel y practicable, owing t.
= q want Of Information which they had
&hOped to derive from the former an
Hthor!ties. Unfortunately, they have
appeared to feel no sympathy in the
&purposes and movements of the Board
Selected by the General Assembly. AL
&most entirely without a cooperation
(which was promised by certain persons
Swho had occupied official positions
Sfrom the former Board. the Commit
Stee can only refer this Board to the re
Sports Of Mr.. Robert W. Lassiter, the
8 Treasurcr, made to the meetings OF the!
s Trustees at "arlOus times from 1868 tot
SlSI2 inclusive. for information conf
IceIning the assets and liabilities OF thes
Constitution, and the application OF thes
Hfunds which came into his hands Bel
gsides this, Mr.. Kemp p Battle, the
sspresent Treasurer, will lay before Tous
ssssa report proper to his office, Ill which,
will be found detailed statement OF allE
sthe facts, which have come within his
knowledge, or which he las beenS
Sable to attain for the reasons herein
Unjust be made for some Of the points,
sput in the charge of your Committee. /
g Having endeavored to carry out the|
instructions which were gwen them.
kthe Committee submit the result of
Stheir lahors, with an expression of theI
Searnest hope that they may be of somes
suse in enabling the Board TO devise thei
means OF re-establishing the Univer-I
ssity upon such firm foundations that
it may dispense the blessings Of useful
Slearning to our people so long as freed
#institutions and constitutional libertys
sremain.
Respectfully submitted.
WALTER l.. STEELE, Chmn,
4 PAUL G.. CAMERON,
S WILLIAM L. SAUNDERS,
Committee.
The Secretary and Treasurer SUBJ
emitted re- orr " Inch was read. &
The Secretary ard Treasurer alsoE
Tread communication from 4. w. I
sLassiter, Secretary and Treasurer of
sthe late Board of Trustees, as follows &
OXFORD, \. c., Feb. %, 1874.
Kc'np p. Battle, Esq:
My DEAR SIR:-Your letter has beenS
received, and 1 am gratifed to learn
StLat the Trustees appreciated my let 8
TER, in the same spirit i'll which it VASE
written.
l enclose list of the Attorneys for
,escheats to whom powers of attorney
have been sent. But, according to myE
recollection now, the records will show
THAT these commissions have been ref
'voked, and Gov. Caldwell was instruct
led to appoint others i'll their places; at 5
3any rate the matter should undergo al
revision, and perhaps an en-
tire new organization. Very few OF
the attorneys have done anything, and
most of them never even recognizeds
their appointment by acknowledging
the receipt thereof. l encloseyou someE
blank powers Of attorney which have
been remodeled by me- You will find s
al ample supply of them in the old 5
book case. Anything further you may
desire, l will supply you Immediately
Jas far as / can, aud also tell you where
'you may find the same i'll the proceed
iings of the Trustees or of the EXecu &
tive Committee, both of which are III s
the old bookcase. [ will come tos
Raleigh as soon as practicable aud turn
over the effects. &c.
Yours trnly.
Il. ". LaSsIrER Is
Mr. Eure ot1;ert i The following reso-
lution:
EesOi0ed, That Comm ttao off
Al. L