The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-06-01
THE BOLTON REQUEST.
CHAIRMAN SLSUGIITtR GIVES
ms VIEWS ABOUT 1T.
Nov he Thinks It should he MAN
hgCd for the Benefit Of the
People,

Interest in the probable jisi oi,ion
of the Bolton fund continues to ex.
cite attention. An APrEAL man called
on Chairman Slaughter, the ex.oihcio
trustee, yes erday, and asked for his
views If The meter. "nhe fund in
it, present condition, said Chairman
Slaughter, Except what l have le-
tcaly 10 d. cons sls in every species
of d opfr v, from ten.Cent wedding
hoe /, a $4,000 farm, sea tered nearly
all over Arkansas, and in Shelby,
Fayet.e aud Gibson counties, Tenn,
in a radius Of 200 m les Ffom this
statement OF the facts REGARDING the
spenies and location OF this vast
estate it will readily he seen by every
ore Interested that it will require
pre,t deal.of time aud vast amount
| If hbor TO convert this es ats into
tangible funds or money 30 the bsne-
ficiades can be benefited from 1t.
The great 81 anxiety on the part oil
III ose makiugriGquir Is seems to be
fe on their pAIt that the whole iund
will ba absorbed in lawyers lees. l
can on g. Y to them that there viii
be no lawve s ie,s p id by we until |
pey the liabilities OF The fund, and
hen only by the order OF some court
having sulhor,ty to IN AXE me pay 1t.
"rhe Supreme CouIt Of Tennessee,
in the final adjudicaiDn OF this estate,
provides in It's dCcNH that all the
property IN Tenne sseeBhall be cold az
soon az pot sible. (This year.
81 propose to adheTe rlgidly to the
: provisions Of that decree. During the
present month | have sold about vi, J
600 worth of the property
under that decree / shi positively
= instructed 10 pay the amount due Mrs.
l.. A. Peete FORMERLY Mn, Caunon)
out OF the first propelty sold. have
recently paid Mrs, Peete Sl2,02b, one
half the amount due her. leXpect to
Q nay the balance due her in a very
i. sh,rt time. When this debt is paid
,. then the bene6ciaries will, for the first
}. time in It's history, begin to see the
IS breaking Of daylight upon it.
Y "Ag soon as l can make final set
r, Element with MrR. Peete | hope tC
IL have fund sufficient to place at thu
l. disposal Of the commissioner appoint
3 ed for the purpose OF erecting the Dol
ton College.
This much cove ted college, am ex
% ceedily anxious TO see in progress dur
ing NY administration, and nothini
lr shall be left uudone on my part Il
AZ hasten it. The balance Of the prOpert.
of in town will be sold during the sum
n. mer. / propose TO have the larg'
I'd plantations divided into small farm
D. so a. y ace them within reach OF small
10 buyers. also propose to sell for a
is ltas one-thiTd cash aud the halRnc
I'd on easy terms with interest from dat
a. of purchase. The object in selling 10
% as much as one.,hird cssh is TO pro
t. ct the fund or benefciaries from an
re deialcat!on in the payment OF iutur
n. installments. When sold, enoug
cash will be realized to complete tn
payment due the endowment fund
which now amounts TO about $4,000
am OF opinion the surplus should b
hi Immediately invCs ed in some goot
long per cent. bonds, as | believe
- better plan than loaning it OF
81 on security as provided in the will
no the donor. When converted lot
~ bonds think they should be d.
po tied in some good bank under tn
Iss guardianship Of the County Court, 6
M That the school directors, or CommiI
as sio nera, may be enabled TO draw the
'n interest r. gularly every six months o
~ order from the trustee Of said fund
~ aid them in carrying on their scho'
IN ~ a. provided in the will.
ny 81 am decide d y Of The opinion thi
-. II this plan is carried out after all u
o'T1 proceeds If the estate is converted |
M good bonds, that the services OF Ii
IVY trustee will be merely nominal.
',C "My reasons fJrfugg ing the Coul
NJ ~ Court il, that, NhIe the donor di
's- not so expressly provide, yet It seem
In from the reading Of the iilteent
clause Of the will, that he did intimat
Sn- such desire. Another reason is tn
IN the County Court is the pc pple's couI
arS and more easily acces Ible to Il
10 masses, and especially the hene tci
~ iies, than any other cour'. Howeve
W. this Is a matter that can be determine
no Ia tho future. l hops that this o
,Ks planation OF wba. l desire to do in 81
e. premises will be saii factory 10
those interested in this matter, bat
uR am open to receive any sugges To-
Ihl and advice whereby the int rest
we the fund can be teatfe1 or eJlarge
uI- more psryionlaIly iIom those mere ]