Los Angeles daily herald., 1886-06-24

These trustees appoint their own sue
eessors, they are acquainted with the
various business men in the community,
and business men are better acquaint-
ed with the business integrity OF bust,
ness men. If you wish TO test that
proposition, undertake to get credit and
you will very soon see II you have the
credit. We hear it said, where the car
cass Is there lhu vultures are gathered,
and where there Is anything TO plunderI
those who are reckless enough will do
the plundering. There is a great deal
OF truth in the prayer land philosophy
tool In the prayer Lead US not into
temptation. The main board is elected
annually by the annual conference.
The training Of the physical, inteilec-
tual and moral nature is thus placed 10
the hands Of the church, and 1t can be
| kent n rer and better aud up to the
highest standard that they are capable
| Of bringing it Besides the trustees each
Idsnartment of the University has It's re.
| gents They manage the daily local
Affairs of their college, the grade oil
| studv and methods. Now this endow-
ment fund places great deal OF power
| In tha hands OF the trustees, and TO Gov
er that point there has been created
| BOARD Of Directors, with power 10 Ia.
sneot the books, the various endowment
funds. etc, and that Board OF Directors
can take all the books and examine them
The directors annually appoint com
mittee to inspect the books OF each en-
dowment fund, the vouchers, etc. They
can also bring suit in any court to recover
apy mismanagement Of funds. Each
trustee is made personally responsible
and can be sued individually. The di-
realtors can also bring suit and stop any
ysstefnl management by the trustees.
| IL ia under this plan that we are operat-
ing. We have introduced many new
features in the work; large portion OF
the plan is different from the old plan.
We are not of the number who believe
that our ancestor knew better how to
manage things than we do. We know
more Of the form and any different part
of work. We understand and under
take to handle all these things with the
best results of the enlightenment of the
ninstesnth century. had an opportu-
nity to speak before the committees in
this room in 1879 and describe what we
proposed to do. 1t was the most indf;
ferent audience and the attention was
slight. do not suppose at the close OF
| the session that any one could have
given anything Of it except that some
thing had been said. Bishop Wiley
was here in the session one afternoon
an1 criticised it severely. and some one
said to me: "You ought to have been
here and seen Bishop Wiley pull that
scheme to pieces" but had an opper.
tunity of seeing the Bishop, and going
over this plan, and when got through
he gave it his most unqualified approval,
and at an educational meeting subse.
auently he gave 1t his hearty endorse
ment, and said that he considered il one
of the best plans that had been present.
ed. Bishops Wiley and Simpson laid
the corner stone of the first building OF
the University Of Southern California,
and Bishop simpson gave it his most I'M
qualified approval. and every Bishop
that has been here thought 1t to be COM
prehensive and gave unqualified endorse
ments. Bishop Fowler, after thoroughly
studying this system gave it his nnquali-
fed approval, and hoped it would be
carried out to the fullest extent, and
would take hold Of every educational
| Institution and WELD and mold it until
with one power we will work as unity,
working 10 q cooperative force in the
cause Of education and the csuse OF God.
So greatly was he impressed he actually
took run down to San Diego and ex.
aminsd the different places Of San Diego
county. and seeing the success evi.
denced therein.
Starting six years ago. without dol.
lar, we have property worth. at the very
lowest estimate, $3.50. 900 to-day, which,
If managed with the oonscientieusness
that any man handling his own property
would exercise, will realize $1,000. 900.
There are several millions within reach
of the University of Southern California
to found educational institutions in South
ern California.
COMMENCEMENT DAY.
To-day is Commencement Day at the
university. At 2 P. NJ. the graduates
will be addressed by the president Of
university and the diplomas will be con.
ferred. Tonight Mrs. M. Dodsworth
gives reception to the faculty. gradu.
sting class and friends Of the institution.
at her residence, No. sol Main street,