, 1875-06-23

oteAo .pR1J5
Tie rspprs al 10 called attention tn tue fact
that tile Untvcl atty Iauds iu EYnuaton, wero
taxed Tor ls13 ~ II 1871. For 10 tho taxes wcfo
over COZ, on 'Fhich Judgment vas given. aud
an Appeal to 10 supscu,o Court taken. probably
10 10 dcc'dod in September Il,s taxes for
1sIf amounted to sG,3A.03, and a1o also being
contested. fl,n laid being exempted from ta1a-
Ion By tue cnarler.
THE DEFICIT
OF e1a4hG this year is attributed hy tho 9ccro.
tafy to tue WONDERFUL growth aud czp,n.inn OF
tho uriseza'ty Ia a!! It's departments during
III" pat tira years, NJ that although its in
cone ,a,i,ulnn las 'nnre @ than; doilns. ta ex-
htlsS!cn tint they wo.o compelled to increstc
ther Liabilities from 35000o in 1870 to +l75, ,0Cu
N 1919. 3ts It must ba rca1omi,eeel tIlat d
eooa elaro Of th'H increaas resulted tsom our
ass'i1ntug two yeArn ngo tho indetteuue4n OF tia
Evanston CollcEe for Ladies', anu IT. completing
nnd hniBllius t4o NonlEu's Coltogu Building"
Mr. Limit coHed hs announcing tnat 10 was 10.
candidate fDr rc-gtectiun.
Tie Board rea'*'snhloa ut o'clock. 1]usinces
was somewhat delnvea by committee work. The
Treasurer waa directed u pay tuo expun1ea Ut
thu Conference v.sitors. ~,
coMMIrrEH 1EronTs.
The Conln>itte- un Law Recommended that tho
Executive Committee ta empowered to make
such arrangements with tho: Chicago University
u regard 10 tI.e College, Of Law u they uco,n
bons. Adopted.
tho Committee on Medical Department. so-
Ported tho Medical College III a prosperous ron
diton. and tha, they Ind t,o suggestions to otr.
Tho Comm'ttee on Faculty reported that shny
heartily approved tito work or tho rehpcctiyo
1pombern u tito Faculty during thu year, aud
found nothing calling fur any s,fgse.tons,
Flo aetion Of tho Executive Committees in ra-
gard to tile loan Of the Connecticut 1lutllal Life
approved.
TnEAsrnEns REros7.
MI. +. Q. Hong, the 1roasuscs. no1t read lis
report. which was as follows:
Cash on h.nt June 10, ls74.............S l,777,7s
Caaa ztcs1sod from sgcus.......,........ l1i4dt,o
rs,d otat. oi lie uai1s.st;.
C4Au on a2aa''.... ...............-........-.. 14.1.H
osal......................... .s116,ct
Mr. Hong alao prosonted y statement Of thu
lnauciai condition OF tue University during the
past few years, from which It appcu1n that, vble
the snat|tntiou Inns Gcon rapllly incEoa-,uE ita
debit IT. totat aHscta hnvc decreased bat very lit
to- alr, lloag closed By suggesting that the
Boafd authorize tho halo. wheu opportunity Of
ftEed Ut any OF the unproductlso residence
property OF tho University. the proceeds to bo
spp!led@ To- to the paymen. of tho ndebset1nese pro-
taty mhde similar suggestion III his report.
,ooMMuNlcAr1oN rltol GOV JOHN tvANs,
President OF The Board, "as thcn road, which
retsronco to It's la1,tied endowment. Iu long
arguluent the writer opposed tho idea Of thtdw-
lnG away tue future greatness Of tho University
bT slort'siEhtod policy, under which tenn
porary emergency might ,bo roIIevo4 BY selling
property 1t an nlifnvosAb!s period and expressed
tho firm conviction that tho land should bo
huld: sone years ago ho made \ oon-
sract With the Executive Committee. by
tho co!ition that one-fourth Of oaeh block OF
sho lan sd endowment DO retained. This aeree-
ment ~ Intended to abide by though 1t might
make hl1n unpopular. feeling that Il was the
best thing he had ever done for tue institution,
and leaving 1t to the future to justify tho Wis
dom OF As course.
Dr.. Fowler moved that tho letter be spread
amend BY adding that this action sLouia not bo
CONSTRUED as approving or diaappEoylng Of lta
sentiments.
Dr.. perrno opposed this suggestion, And bo-
Evans. but was interrupted by Judge Goodrich,
who Informed him that tha subject had been
discussed since tho ftst day Of the Board aud
that tho question would be debated hereafter.
sentiments Ia order to meet hiB responsibility,
lie had not been present for some fifteen years,
When he was appointed TEustee, he began to
road up on tho histoFy OF unaTsraltics aud b.
Finally The letter was ordered spread upon
tho records. though 1t HAs evident that many
opposed ita sentiments.
THE LAND AGENT.
Tho Rsv. phtt0 JulHou, the 1and agent, next
read BIZ report, .hio'. var al4o Al argument
upon the proprlety OF holding tho Evanston
lands Of tue Universally for n rise within the uoxt
thirty or tifty ysats. tle took an entirely oppo-
slse tack to that Ut D.. EYans latter, aud argued
At lenyth agatast tue policy Of holding tho
sosidenco property any lougor, claiming that tho
Eenult would bo financially unp1oAtsbls. Not
oalY this, but hs took position aeaInst tho plan
Of leasing followed BY the uuiversity. He closed
By expressing hs belief that tue true policy 10 !
Frst, to sell ANY Of our unpsoductlvo real ostato,
the higheE'plIced frst II practicable, until ths
indebtedness IL paid second. leaso 1ny OF tho
hiR H. priced prDperty. Dfoyided rental Of f-ia
obtsit,ed, .nl sutsbie improvsmsnts secured:
tA,rl, lot ali proceeds of HA1es, after paying
tho debts, bo placed It tho hsgheat
ratio Of intetoat Oh reAl-eB&ate security;
fourth let one-foursh Of the income from tnie
sourye be zenyestsd to, accumulate; atth, Iet
tho remainder b devoted to tho support Of The
Faculty aud institution"
Tbs report A!ao showed that y
of lands bud beon sold duringt'
". Quasi moved that ths