Daily Republican., 1882-03-20
WESLEYAN FEMALE COLLEGE.
A Short Succinct sketch of its
History, Its Troubles and Pres
eUt Con II finn

n
ent Condition.
For the REPus.IoAN.
The sale of the Wesleyan College
property seems to have given ii an in
terest In some quarters where very lit
lie was felt or manifested before and
the proverbiaI zeal OF young converts
has been in this case, as in others, more
ardent than wise. Matters are terribly
misunderstood, mystifed and misrep-
resented, until the seeker after
truth has a hard road to travel. Para.
graphs in the city papers have kept the
subject before the public, and it seem =
proper now TO ask the favor of space fer
a simple statement of facts.
The property was purchased from the
original proprietor and founder of the
school about 80 years ago without mon
ey, and placed in charg eor Board of
Trustees, u fixed proportion of hom
were TO be members of the Philadel-
phia Conference of M. f. church.
then including the present Wilmington
Conference. General subscriptions
were made by order of the Conference,
considerable money was raised, the
building was repaired and new one
erected, the debt greatly increased and
the whole mortgaged to its utmost linn.
II. Scholarships were hen sold and
the money received, not invested to
produce Il revenue, tut spent on tho
| buildings and IN current expenses. For
800 scholarship was sold giving four
years tuition-Sl2.50 80 per year, certainly
cheap! This plan, of course, filled h,
bindings with pupils, but not the
Treasury with funds. Embarrassmenta
| soon came.
The only hope was that the Confer
ence would raise money 70 relieve the
college, but this was only partially re-
allied. President Wilson, in his first
year, found himself 80 much hampered
by unpaid interest, and the floating
debt, that he expressed to Chancellor
Rates and some other trustees his in.
tention to resign, but was by them
dissuaded from his purpose, in the be-
lief that the debts could be reduced to a
manageable condition. Mr.. Bates made
thorough examination Of the financial
condition of the college, and prepared
statement for his associate trustees,
and also plan for relief. From this
paper, IN the chancellor Il handwriting,
the following extracts are made as per-
IlHeub dJ tue present. Time.
"The condition of the college and its
present necessity may be- briefly stated
thus: We have funder debt on which
interest is paid, Of saw S2l ,O0o( (and q
mortgage of 81 900 to Conference educa.
tion fund, not bt airing int rost). The
principal is not wanted by the creditors
and the annual interest the college can
pay, over and above its current ex-
pcnses, with a less patronage than it
now has. Its ability 10 do this has
been tested by the last years expe-
rienCe.
1t is the floating debt that is embar-
RAISING the Trustees, and to provide for
which is the special object of the pres
ent movement
The flo lting debtjis about $40 0O0-of
tins amount about "a 900 is in open ac-
count for College expenses tina. were
incurred several years ago, and in
GLIDING also several certificates o. loan.
For 81, 900 Of the fl ,ating debts judg-
ments have been recovered, and execu-
tions levied on the furniture. These
executions are three, one of So, 900 &c,
&c
Prior to the meeting of the Board, a
Sherltt's sale was felt by the resident
Trustees TO be inevitable. At this
meeting suggestions were thrown out
looking to the possible adoption of
measures, ultimately to relieve the coll
lege Of the floating debt and prevent a
SherItts $ sale, now imni nent."
"Ohr beloved institution is worth
this effort. can say from personal
knowledge (having daughter in the
college, that it is an excellent institu-
tion an honor to the church aud all
with it,
"One word more as to the floating
lebt, in 1851 SO, three causes toncur.d
to bring it uIon us. Our patronage ran
down to thirty or less bOarders the
balance went against us. PrLf. Wilson
can not pay it Oft, but with his reduced
patronage lie has been able to pay cur
rent expenses and interest. Ii the
1Oating debt now existing can be gyadu-
ally removed, we have good reason to
hope that hereafter these troubles may
lot be renewed" "
The ardent hopes expressed by Mr.,
Bates were not realized. The money
Vas not raised and the College was
eft to depend entirely on its earnings.
These were discounted in two ways.
First. An average of about 5000 was
'redited the scholarships.
Second. About $500 annually was
Illowed on bills of ministers, az by re-
olution of the Board, in Cous iderati
II the influence and support Of the Con-
erence.
In few years, one of the Judgment
reditors pressed his claim and the
sheriff was about to sell. The exeCu-
ion was settled by Pres. Wilson and
Nm Bright giving their notes for the
mount, running over two years, with
he personal endorsement of Mr..
Bright.
Scarcely were these notes paid, when
mother judgment-near $4,000 was
ushed, and 1T was settled in the same
ray and by the same parties. These
otes were all paid AZ they matured,
ut there was no revenue apart from tho
lcome of the college, and the surplus
bove expenses was not enough to pay
hose nosts; there was not an actual
OF abe debt to that amount,
at only change of form, in part.
Perhaps it would have been wiser to
ave allowed the Sheriff 10 sell at that
me, but faith too strong, as the re-
iJ proved, III tne assurances OF rellet,
erermined otherwise. Relief did not
'me. The college drifted along until
again struck rock; no friend came to
le rescue and it was allow, d 20 change
nership
The college will be closed during tho
miner and the buildings thoroughly
newed inside and out, SO rs to be-
ade comfortable and attractive.
'esldent Wilson will open next Sep
nber with n new corps of first class
achers, relieved of the bur ems borne
rough all the years Of his former SER
ce.
new chartar will ha annliad FOR tn