The Findlay Jeffersonian. [volume] (Findlay, Hancock County, Ohio) 1870-1881, 1876-12-01
AN IMPORTANT ENTERPRISE.
Meeting OF the Board Of Trustees Appointed BY
the Sandusky U. B. Conference, with View 10
the Location Of an Educational lnstitution.i

| the Location OF an Educational lnstitution-i
At the late session of the Sandusky
Conference of the U. B. Church a pc
tition was presented from Lumber o.
citizens of Fostoria and vicinity, asking
The Conference to adopt a paper con
templating the location of an academy
in this place, and for that purpose to
appoint a Board of Trustees with
view to early efforts in behalf of such
enterprise.
The Conference complied with the
above request as presented, with the
exception of the location. leaving that
blank and submitting the location OF
said institution to competition between
several towns in the northern part OF
the Conference District.
The Board appointed held a meeting
on November 3, in this city. after due
notice, for the purpose of organizing
the Board and arranging plaL for a
canvass for subscriptions.
NJ. Bulger was elected temporary
Chairman, and Isaac Grouse temporary
Secretary.
On motion. the Board was perma-
nently organized by electing N. Bulger
President, and Isaac Grouse Secretary.
The following plan was unanimously
adopted by the Board:
1. That subscriptions be taken pay
able in five annual installments.
2. That the first installment shall be
due as soon as said institution of learn
ing shall be located.
3. That all sums of two hundred
dollars and over remaining on sub
scription, after two annual payments
are made, may be retained on loan for
five or ten years, subject to renewal,
by the subscriber, at s per cent in
terest, payable semiannually, secured
by mortgage on real estate.
4. That all subscriptions made for
work or material to be payable on de-
mard.
5. That not less than $40, 600 of this
fund be expended on grounds and
building, and that all over the amount
used for such purposes be retained as
a permanent endowment fund, to be
held sacred and be securely invested,
and only the interest on the same to te
used to support said academy or insti-
tuition of learning.
6. That said institution be located
within the following geographical lim-
its: Bounded as follows: by the base
line on the south; by a line cores
ponding with the east line of Defiance
county on the west; by the Maumee
river and the south shore of Lake
Erie on the north; and by the west
line of Huron county on the east.
The president was authorized to call a
meeting of the Board at any time that
he may consider it necessary for the
interest of the enterprise.
All subscriptions to be returned to
the Secretary of the Board on or be-
fore July LIST, 1877.
The financial basis upon which it is
expected to establish this institution is
$50, 900. This will make it entirely
safe, free from embarrassment, which
annoyance experience teaches is to be
avoided Gy ali means.
Northwestern Ohio has no institu
ton of this kind, and yet this part of
the State is greatly interested in the
work of education. This proposition
affords the towns within the described
limits a rare opportunity to secure a
good thing. No one town can afford
to lose the the opportunity for the
amount of money required to secure
it. ISAAC GROUSE. Sec'y.