The daily gazette., 1882-11-18
AID FOR THE ACADEMY.
A PLAN TO PUT THE DOVER
SCHOOL ON ITS FEET.
STATISTICS OF THE INSTITUTION.
Twenty Thousand Dollars Of the Debt to
he Assumed by Individuals. Mt Ten
Dollars n share.

-
Rev. Robert W. Todd, presiding elder OF
the Dover district OF the Wilmington Con
terence, has Issued an address to ministers
and laymen concerning the Conference
Academy at Dover at the request of the
trustees of that institution, which contains
the following facts
/. The inception OF The Idea OF u con-
ference academy was at o Peninsular Metho-
dist Convention, composed of both minis
terial and lay representatives. Our academy,
therefore, is common property for the
general benefit, and appeals for sympathy
and support TO every lover of Methodism.
Its permanent establishment and success
will minister largely to the prosperity and
glory Of our church it's failure will be our
cannot afford, especially since success Is SO
nearly assured.
We are not ignorant OF the fact that the
long struggle and the continued appeals
that have attended the history of our aca-
deny have become tiresome and annoying
to many of you; but we are confident that
the prejudice against 1t has arisen from a
failure TO preserve, collate and study the
facts and figures Of the several annual re-
ports.
In former communication showed You
accounts of the academy that the town of
Dover had actually and fully met in bona
ilde contributions, the entire amount of her
aggregated pledges. Had the members Of
the Conference and the laity generally met
their obligations with equal promptness, ,our
institution would to-day have been entirely
free from debt. That you may have further
light and be able to answer other questions
that may have arisen your attention is
invited.
2. To the cost Of the Institution. have
spent several days in a careful and laborious
examination of tho accounts of the agents
and the annual reports; and find that the
total cost of everything connected with the
Academy has approxmated very nearly the
sum of $4,000.
OF this amount there has been paid out
for site, agents salaries, plans, loss on run
ming expenses, rents, interest and insurance,
gas fitting, heating, musical instruments,
furniture and incidentals, for all Of which
the vouchers are accessible, the sum Of
within fraction of 600; the difference
between these amounts being the actual cost
Of the building. There has been raised
from
Subscriptions and educational coilec.
Paid Of this sum, by ministers. ........ 04423S
Leaving amount paid by laymcn. zee. s40,l724a
Deduct amt. paid by Dover laymon... l0,22h0
Leaving amount paid by loymon out.
side OF Dover. r...............'..,... S23,94Ts2
BY order of the conference held at
Easton, Nd, the Trustees of the Centenary
Fund, who were the custodians of the
money received for our interest in the Tract
Depository of the old Philadelphia Confer
ence, were directed to subscribe the same to
.. pf tho Ana1amv The afnOunt
received from this source was $1,000.
The insurance on the original building
together with the material left from the
fire, replaced the building, and paid on the
debt about 10000; which added TO the
amount from subscription and that received
from
the Tract Depository makes. tSi,ol4,s5
Amount of Indebtedness March s.. 2o,55oi9
Making n total lof....................s of. ss5.l74p9
The difference between this sum and SS9,-
900 600 is S3,s35.0l, which represents the
amount Of income from accrued interest on
bonds sold, from insurance dividends, iron
collections on bills due by former students
and from rents OF the building. Not having
the vouchers at hand anu unable to state
the exact amounts OF these several particu-
lars. Let US now consider
8. The debt and the plan for paying the
same. In round numbers the debt is S20,-
900. There Is large outstanding subscrip-
tion, which l have not taken the pains to
calculate, but which ought to be available
for an income Of several thousand dollars.
1t cannot be possible that Methodist min
isters and laymen will ignore responsible
tiles they have voluntarily assumed when
the goal of success Is within reach OF one
more earnest effort. How!
First, let US, both ministers and laymen,
who owe q balance on our subscriptions, pay
the same as fast and as early as possible
Second, let all who can do SO, subscribe
| on the new plan adopted by the Trustees,
that plan Is as follows: Divide the debt oil
| S2o, 600, 90 into 1900 shares of $40 each,
and, through the pastors, canvass the con
ference for subscriptions, which shall be-
como binding when tho whole number of
shares are taken by bona flde subscribers.
| The subscribers to bind themselves by siga-
| lug an obligation in form as follows
! !, have this - day oi
| A. D., lsS-, subscribed for -
| shares Of tho two thousand shares
Of stock of the Wilmington Confer.
ence Acadcmy,-at $40 per share, amounting
| to - dollars, upon the following
| terms and conditions, viz Tc pay the inter.
est, at the rate of 9 per cent. per annum, on
| the said sum of -------- dollars, semi
| ennually on inc hInb u"5 VI ousy "nu os,
ary of each year for period not exceeding
seven wears. and If the debt of the said vii
mipcton Conference Academy shall have
| been paid ard discharged within shorter
| neriod than seven years, then the payment
of interest upon the above sum OF -
dollars shall cease and determine; but, II
| no event, shall pay or be liable to pay any
part of the principal sum of - dol
lars; nor shall this agreement go into cffec
until the whole number of two thouEanc
shares shall have been bona-ldely taken ant
pledged. Witness my hand and seal thu
! day and vcar aforesaid