The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-05-18
BEING FRITTERED away.
THE FADING CONDITION OF THE
BOLTON REQUEST.
Chairman Slaughter, the Trustee,
Tells How the Natter Stands
Ia a Nutshell.

The report of the grand jury on the
Bolton matter, published Sunday
morning, though full enough, was not
quite clear enough for the general
reader, aud in order ID present the
facts in brief, readable way, an AP-
PEAL man called upon Chairman
Slaughter of the County Court, who is
ex officio trustee OF the fund.
II cannot answer your questions
positively" said Mr.. Slaughter, "as ]
nave not been placed in formal p s.
session Of the trust. AS i undeisIai d
il, however, when a settlement was
finally made With Mr.. Apperson by
the Chancery Court, under the decree
Of the Supreme Court, $4,000 in
money was paid over, besides lot of
property in the adjoining counties.
the whole being taken in liquidation
Of the claim OF 100000 against Mr..
Apperson. The real estate and her
property, as take II, is actually worth
about $4,000. Pat of il has already
been cold and out Of the proceeds of
the remainder the u3tee W Il be r.
qnired TO pay tequest of $40 600 to
the First District Tor a college and
$4,000 to the widow cf the late Wade
Bottom, besides other claims"
"Wss there any personal property
placed in the hands Of the Trustee ?"
Eyes; there were growing crops on
some Of the plantations, mules, horses
and farming utensils. The amount
realized by the former chaiim an, Mr..
Smith, was about $4,000, l think,
which, in addition to the $4,000 he
received, would make the total amount
OF cash handled by him about $780,
600"
"And what has been done with the
mcneyW
"Well, about $4,000 has been used
in lawyers fees, and l suppose Mr..
Smiths vouchers will show what was
done with the remainder"
sis there nothing left?"
Something like 5000 remaining in
hank"
"Whst general plan have you for
preserving the remainder OF the fund
for the benefit of the schools?"
"Under the law, | may dispose OF all
The property in tbs Site this year,
and think 1t thogld be sold witniu
tie tine il possible. The big farms
and all land either in city or country,
which lies in large bodies, should be
cut up and cold on reasonable ts1ms
to respectable parties with good
security, or a sacrifice might be
made TO obtain the cash down
which could then be invested in
bonds. l shall also sill the Arkansas
property IS soon as possible. 1t is
moitgsged to secure notes for ST., 900,
and is valued at $llS,O00, but that val
uation is on par with that OF Ten
neesee property. received propo-
eition from Mr.. Apperson Saturday to
convey to me all his Arkar SIS proper
ty If l would relinquish his note, but
declined. There are other mortgages
on come OF 1t, and a good deal OF back
taxes. OF course | shall insist that all
OF the claims be paid by him, so as to
make the property net as much as
possible"
Shave you given bond for the exc
cu,ion Of the trustf'
"No, under the will the trustee like
the executor, was not required to
give bond. A suit hes been filed,
however, by B. J. Kimbrough, att r
new for the school directors of the
First District, asking that the trustee
be required to give bond, and that
his compensation and that OF others
required to perform certain duties be
definitely fixed. Judge Graft, acting
as special Chancellor, fixed
the bond at $4,000. II the
Supreme Court requires me to
give bond OF $4,000 or $4,000 it
seems to me | may either decline to
do so or insist that l shall be paid
something for my tervicee, which are
entirely separate from those of chair
man Of the County Ceut, Nv bond
for that office, as well SIS my salary, is
fixed without any reference whatever
to ex-officio trusts. AS q matter OF
fact, l think the trust ought to he
taken out OF the hands OF the chair.
man of the County Court. He has sf
much as he can easily and well attend
to withoutit