The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1883-09-27
WHAT A UNIVERSITY REGENT
SAYS.

DR.. Wooten, one of the university
regents, has been interviewed by a
News reporter upon the subject of
establishing the medical branch of
the university at Galveston. He says:
what Galveston has offered or
would be likely to offer has never, so
far as l know, in any manner intlu
enced the action of the regency in
reference to the establishment of the
medical school. We have not for a
moment considered that as entering
at all into the problem; for if the
medical college could or should in our
opinion be now inaugurated, we
should consider it our duty to estab-
lish it at once, irrespective of any in
ducementS or failure of inducements
on the part of Galveston. The loca-
ton of the medical college has been
fixed by the people, and it is, am
confident, the ca nest desire and de-
termination of the board of regents to
put the same in active operation at
the earliest practicable moment con-
sistent with It's efficiency and
success. AS matter of fact
Galveston has never either
directly or indirectly offered to the
university any sort Of inducement, in
the way of hospital or buildings, to-
ward the establishment of the medi-
cal college. During the campaign for
the location of the medical branch it
was urged in Galveston's behalf that
certain hospital facilities and college
buildings would be given to the state
as an inducement to the location of
hn in off hn
campaign had ended nothing further
has ever, to my knowledge, been said
on the subject, and the regents have
never received, formally or informal
~, any proposition to provide either
hospital or other facilities from the
city authorities, medical profession or
the people OF Galveston. This, now
ever, as ] have said, has not in any
way influenced our action III the prem
ises, / presume the city authorities
ana physicians of Galveston under
stand and acquiesce in our decision,
that the successful Inauguration of
the medical college is not now feasible,
and have, therefore, not moved fur
ther in the matter.
Again he says:
Whatever may be the decision as to
the interest on university land sales,
it would not materially alter our
condition with reference to the
establishment of the medical college
for these reasons:
l. The present annual income of
the university from all sources can
not exceed $35, 1000. Under date of
September Is the comptroller of the
state has made the following state
ment, which may be taken as very
nearly correct:
Funds on hand in cash. .............. Sol ,315 So
Funds on hand in bonds, subject to
be converted into cash ............. S,308 81
Interest on land notes, which prop
erlY belong to available university
Iunu observation-disclosures. st ,90U VI
Total available Sept. l. 1888. -. .s156.575 II
The permanent university fund on
September 1, 1883, was as follows:
Five per cent bonds. S69,O91 65
Six per cent bonds. Observation-Disclosures. 175,500 90
Seven per cent bonds ................ 114,0O0 90
Total bonds: .i.:..:....-. ....S35s ,591 65
Cash ash on hand September 1, oo,,
Less amount interest on
land notes due the avail
liable university fund. $3.50 94-166, ST2 So
Total permanent unworthy fund,
september ], 1888. -. 80. S524, 464 %
The permanent fund now yields an
annual increase to the available fund,
as follows:
Interest on bonds .........S2 l .964 IS
Interest on land notes, former years,
say. .....-.-........... 1000 90
Total ............ ....S2S ,96s So
To which should be added interest to
be derived from the investment of the
$166,872.56 cash on hand.
1t will be borne in mind that. the
amount to be derived from the inter-
est on land notes is not a fixed sum,
as the interest on these notes is being
annually diminished by partial pay
ment of the principal"
1t will thus be seen that even allow
ing for the highest rate of intel est at
which investments can be made, $685.
600 is probably the extreme limit at
which our annual income can be esti-
mated, excluding the interest on land
sales, which the comptroller fixes at
$1,000 annually. Of this amount $1O,-
OOO will next year go to the Agricul-
tural and Mechanical college, under
existing laws, leaving us barely able
to pay, and possibly behind, on the
current expenses for next year.
2. The annual expenditure for pro-
feSsors, even in the present incom-
plete organization of the academic
and law departments, is about $4,000,
and may approximate $4,000. In ad-
ditiou to this, We are in pressing need
of $4,000 to complete the main
building, now partially constructed,
and at least $2o coo more To build and
equip chemical and physical laborato-
ries. Thus it will be seen that every
dollar that can be realized from all
sources new known, or that might be
de .lared avaiia,ile under existing laws
is q aeded to carry Cut and make eff
ciens the work already Legun,
Adjourned.
PROVIDENCE. Sept. %. The Sover-
eign grand lodge of Odd + elbows CON 4
- =. L.