The home journal. (Winchester, Tenn.) 1858-188?, 1883-05-23

FROM the Nashville World, 18th in-tl
The Removal Of Mary Sharp
College.
10 the Worldl
JACKSON, Tenn, May I Dear Sir
] see by the newspapers Of Nashville
that some Of the citizens Of Nashville
are proposing to remove Mary Sharp
College from Winchester TO Nashville.
] do not believe that any considerable
number Of your business men will favor
such proposition for moment. The
town Of Winchester and the county Of
Franklin do too much business aud lay
out too much money in Nashville fol
the people Of the latter place to be will
ing to make such nm issue, and thereby
run the risk of cstranging our bushes,
men from your market, and, besides
this, do not believe that the people Of
Nashville have concluded that Nashville
is the State of Tennessee, and that the
other towns and counties are tributaries
to the growth aud development Of their
city, at whatever costand sacrifices such
growth and development may be to such
towns and counties.
! desire to notice the reasons set forth
by the memorial for tac removal:
First, that document says it has been
represented "that owing to serious aud
vcxatious litigation about the property
ut Winchester" ETC., :" the Faculty
have come to the conclusion that the
future prospects Of the school, etc, de
mandcd removal" THIS statement
naturally suggests the inquiry, What is
that serious and ycxatiuus litigalcnf'
1t is simply this Some time ago tho
school became indebted to DR. Graves
its President, in n pretty considerable
sum Of money, and the question was,
how should the debt be paid AIR.
Walmsley, man Of means and Il mem
Der Of the Board Of Trustees, agreed to
pay DR. Graves a portion Of his debt,
and he and DIR. Graves agreed to take
the management Of the college, pay the
teachers and appropriate the income
Of the college to the payment Of their
debts. This was settled upon aud Mr..
Walmsley paid DR. Graves the amount
stipulated for THIS arrangement was
to run, as | now remember, for the pc
Rod Of four years. The Trustees gave
to Mr.. Walmsley decd to the property
to take effect at the expiration Of the
four years if his and Grnvcsalebis were
not paid Walmslcy died after the cx
pralion Of the time. He had been
guardian for his daughter, and as secu
rity had assigned to her the mortgage
ESQ he terms il in the assignment) Al.
ter his DEATH the daughter, through her
husband, demanded possession of the
college property, which was refused,
and suit was brought.
The history of the execution of the
mortgage to WaImsley is this | was
directed by the Board of Trustees to
prepare the deed and did so. The
Board met and had the deed ready.
There was but one other lawyer present
in the Board. My opinion was that the
deed was, at the hest, but mortgage,
deed in trust. So thinking | called the
other lawyer aside and told him what
thought of the deed, and that | did not
want MIR. Walmsley to take it under the
belief that he could at any time after
maturity and non-paymcnt of his debt
enter and claim the property. My view
OF the case was fully concurred in by my
brother attorney. We returned to the
Board, The deed was read and | told
Mr. Walmsley that the deed was only
a mortgage, n deed of trust, and that III
ne accepted it and advanced the money
ne could not, in default of payment,
take possession Of the property, but
would have TO resort to court of chan.
Gerry to enforce his mortgage, a deed of
trust, by sale of the property, to all
which he replied he was willing to &C. I
cept 1t as n deed Of trust, and he did so G
accept II. Besides, DR.. Graves admits d
ne mas been paid in full, and the eyi. /
oences by his receipts and the testimony ,
o. Or; Graves are on file, showing TIM,
Mr. Walmsley has been over paid
l was member of the Board and
connected with the transaction. While
J was amember Of the Board the mot.
tiers were submitted to Hon. A. S. Col.
var Al d myself for an opinion. We both
unhesllatngly gave the opinion that
there was nothing in the lawsuit for the
college property, and SO announced to
he whole Board Of Trustees and to sew
raj hundred persons at the closing ex-
rcises of an annual examination, Mr..
'olyar voluntarily pledgiug to defend,
lihoat fee, which | suppose he is do,
e. ] have given the substance Of the (
cts as | remember them. If ] have o
anything mistaken the case the $,
cord in the Chancery Court at Win. Il.
ester will correct mo. n,
The suit is not to forclosc a mortgage, W
deed OF trust, but to recover the prop. I'll