The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-04-02
AN OLD QUESTION REVIVED.
The Indebtedness Of the Telfair ACad-
envy to Be Discussed Again.

Oml W DO DlOluOOCu ASulllt
The Question Referred to the Finance
Committee at Meeting of the Cura-
tors-Gen. Jackson Asked That the
Matter Be Taken Up-The Committee
May Make Report to the Meeting
of the Georgia Historical Society
Tonight.
The matter brought before the curators
of the Georgia Historical Society at their
meeting a night or two ago with refer
ence to the finances of the Telfair Acade-
my for which the Historical Society is
the trustee, is liable to bring about an in
teresting discussion at the regular meet
ing of the society to be held tonight.
The matter in question was letter
read by Gen. Henry r. Jackson, in which
he asked that the finances of the society
be examined into by the proper authori-
ties, and an investigation made to see
what could be done about the indebted
ness of the Academy.
THE ACADEMY's INDEBTEDNESS.
1t is well-known that the Telfair
Academy is indebted to Gen. jackson to
quite large extent, the account being
about $4,000. This indebtedness has
stood for a number of years. 1t was in
CURED for the purpose Of making i'm
proyements, among which was the build
ing of the annex and the residence of the
director Under the agreement the
Indebtedness was to be paid Off
at the option of the trustees of the acad-
envy. The interest, at 6 per cent, was to
be paid out of the income of the academy
from the Augusta and Savannah railroad
stock, of which the company owned 1000
shares Whatever was left after paying
the salary of the director and the other
expenses of the art society was to be de-
voted to paying the principal.
Some years ago a movement was started
to cut down the expenses of the academy
in order to devote as large as possible a
portion of The income to paying the in
debtedness. This movement being dis
couraged by many, among whom was
Gen. jackson, the matter was dropped.
OPPOSED THE RESOLUTION.
Nov. 3, 1892 Gen. jackson wrote letter
to the society, in which he requested that
the matter of the Indebtedness be taken
up and the question as to how it was to
be settled discussed At a subsequent
meeting of the society, held in December
1892, a resolution was offered to provide
for cutting down the expenses of
the academy to a minimum This
contemplated the loss of the direc-
tor and the cessation of further purchases
The idea was to devote the income from
the Augusta and Savannah stock TO the
payment of this Indebtedness. Although
seemingly in line with Gen. Jackson's re
quest, he being present a that meeting
stated that he had reconsidered the mat
ter and opposed any such resolution. He
stated that he was willing and his state
ment went on the minutes of the society,
to allow the indebtedness to stand TO be
paid at the option of the society, that he
xxyf1t ,oA flaor 49, la 4
retained and the expenses of the academy
paid, and that if the income was not
large enough to pay these expenses he
would see that they were paid though it
increased the indebtedness.
1t is also a part of tine records of the
society that Gen. jackson stated that he
had provided in his will that the admins
traitor of his estate should treat the
agreement that the academy was to pay
the Indebtedness at its option, just as he
had done, and not to press the matter in
any way whatever.
THE RESOLUTION VOTED DOWN.
He followed up this statement made to
the society with similar statement in
one of the newspapers to which his sig
nature was attached. He also wrote to
each of the members of the society, urg-
ing his attendance at the meet
ing, in which he stated that the
contemplated abolition of the direct
orship would be, in the Judgment
of the curators disastrous to the inter
ests of the academy. At the meeting held
Monday night, Jan. 2 the movement to do
away with the director of the academy
and to reduce its expenses for the pur-
pose of paying the debt, which was pro-
tested against by Gen. Jackson, was, as
stated in the MORNING NEWS, the next
day overwhelmingly defeated
PAYMENT NOW DESIRED.
The meeting of the curators considered
a letter read by Gen. jackson asking that
the finances of the society and the acade-
my be looked into with view to seeing what
could be done with regard TO the payment
of the academy's Indebtedness. One of
the curators who was present said that
this was the matter before the meeting,
but that no action was taken
on it beyond referring the matter
to the finance committee of the board
which will hold meeting this afternoon
at o'clock, previous to the regular meet
ing of the society, which is to be held
tonight. 1t is not known whether or not
the finance committee will be ready to
report to the meeting tonight or not. 1t
Is understood, however, that they meet
with that point in view
According to one of the curators il will
be practically impossible for the academy
to pay this Indebtedness at this time. The
1hGCLOS0 udo Always DS6u pdlQ on
it, he said. 1t is impossible,
however, to incumber the prop
erty by a mortgage or an issue of
bonds as the terms of the will under
which the property was left by Miss Tel
fair prevent this. The academy has no
other source of income than from the Au-
gusta and Savannah stock, and in order
to pay the indebtedness expenditures in
other sources would have to be stopped.
It remains to be seen what action will be
taken in the matter by the society.