The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1883-09-20
DEPARTMENT NOTES.
SATURDAY.

DEPARTMENT. NOTES.
SATURDAY.
BIG BOOST FOR THE STATE UNIvER'
SITY.
The following ruling of the state
comptroller is big boost for the uni
versity:
OFFICE OF COMPTROLLER,
Austin, Sept. Is, 1888. !
Hon. Ashbel Smith, President Board of Re
ats University Of Texas, Austin, Texas
ri have the honor to acknowl-
edge the receipt of your communica-
ton, requesting that the board of re-
gents be informed what the ruling of
this department is in reference to the
disposition to be made of the interest
arising from the notes held by the
university fund, given for the pur-
chase of the university lands. beg
to say, in reply, that, after an eXami-
nation of the laws bearing upon this
subject, consider the interest on the
land notes held by the university fund
as property and part of the available
university fund, and as such is in
cluded in the appropriation made in
section 10, of an act to establish the
university. approved March 3, 1881.
In examining the records of this de-
partment, / find that Hon. s. III. OAR
den, former comptroller, in his report
to the governor, for the year ending
August 81, 1880, took this view of the
subject. On March 30, following Mr..
Darden's report, the act establishing
the University of Texas was passed,
which act, in section 8, declares: "The
salaries and expenses of the university
shall never exceed the interest on the
university fund and land sales fund"
The notes given for the purchase of
land being a part of the land sales
fund, the interest on the notes would
be included in the amount permitted
by the statute above quoted to be ex-
pended for the salaries and expenses
of the university.
Under this view of the question the
available university fund on Septem-
Der l, was as follows:
Funds on hand I'm cash .............. i'61, 315 sc
Funds on hand In bonds, subject 10
be converted into cash ........... 1903 81
Interest on land notes, which prog
erly belong to available university
Iunu... ........-...-.......... Sb,J0O III
Total available September 1, 1888. Si5G,575 II
The permanent university fund on
September l, 1888, was as follows:
TIN6 Ceub UOnuS SOt,UJl
Six per cens bonds .................. 1I5.5O0 %
Seven per cent bonds. ............. $4,000 90
Total bonds ACKNOWLEDGEMENTS 1855, sol 65
Cash on had Sept /, 1883. 1888 1913 81
Less amount interest on
land notes due the avail
able university fund.-. $3.50 94-166,ST So
Total permanent university fund,
September 1, 1888. S525 ,46f %
The permanent fund how yields an
annual increase to the available fund,
as follows:
Interest on bonds S21 ,9G4 So
Interest on land notes former years,
say OBSERVATION-DISCLOSURES. 1000 OO
Total ..............S 2s 964 IS
TO which should be added interest to
be derived from the investment of the
$166, 872.5S cash on hand.
1t will be borne in mind that the
amount to be derived from interest on
land notes is not fixed sum, as the
interest on these notes is being annu-
ally diminished by partial payment of
the principal. Respectfully,
WIN. J. SWAIN, Comptroller.
UNIVERSITY NOTES.
The following students were ma
circulated yesterday, making 103 reg
istered to date, including eighteen
young 1aOleS.
Melton White, academic depart,
ment, Austin, Tex.
b. L. Stemmon, law department,
Dallas.
b. p. Bailey, academic department,
Hearne.
H. b. Stiles, academic department,
Austin.
G. w. Ratliff, academic department.,
Ledbetter.
c. b. Wade, academic department,
Hamilton.
W. H. Hill, academic department,
Manor.
L. NJ. Dabney, academic department,
Austin.
r. j. Fielder, academic department,
.Nhappell Hill.
j. S. Riley, academic department,
Cook county.
w. Daugherty, academic department,
aY.S county. 49, ----
7. q. Burns, law department, Cuero.
Frank Lacey, academic department,
Palestine.
w. p. Hun1cett, academic depart
ment, Reagan.
J. II. Reuss, academic department,
Cuero.
F. c. Proctor, academic department,
Cuero.
F. Finley, academic department,
Galveston.
B. b. Proctor, law department,
4 Cuero.
r. A. Peasants, law department,
Cuero.
E. V. Hamilton, academic depart
ment, Austin.