The Roanoke daily times. (Roanoke, Va.) 1895-1897, 1896-03-31


DOCKS from the regularly authorized
coiporter. The Sunday schools were
enJoined to purchase their books in the
fusure from the colporser. Rev. A. A.
=. Meal was recommended for the po,i.
tion. fo--"
The board OF edncstion also submitted
sreport OF the condition OF Payne sad
Lane Institutes for the education OF thd
Soiored youth, located, respectively, at
Masnviile and Atlanta. They also
recommended the assessment of $500
each for the maintenance of these in
stitutes. .'-'o,
The conference perpetusted the COM
missee on entertainmens, which ia COM
posed OF J. P. Hyde, @. Il. Buchanan,
y. i. Wightman and e. B. Pretsyman.
In regard to the reconsideration of the
matter OF the Wesleyan Female Insti-
sute Of StHunton the committee ap-
pointed reported the following:
IL Is the desire Of the conference that
AL the indebtedness of the institute
snail be paid. and 1t being apparent
snst the assets, II sold at public suction,
Will not pay one-half Of tho liabilities,
and by reason Of prior liens large part
OF the Indebtedness would receive moth
ing from the proceeds Of sale and be left
wltn no provision for its payment. With
view OF ultimately paying the debt
eno continuing the institute as the con-
! ference school, the following plan IL
| proposed:
| THAT committee of three be sp-
pointed by this conference to sscertsin
as soon as practicable u hether all the
creditors of the institute will unite in
an agreement to accept from the board
OF trustees OF Wesleyan Female Insti-
sute settlement whereby the time of
payment may be extended through q
period OF years in such amounts as can
be taken from the net annual income of
the institute. For these amounts the
notes OF the institute are TO be executed,
secured BY deed of trust, creating q
lien on all the property Of the institute,
preserving therein priorities among
creditors as now exist by law unless
waived by the credit:rs.
! III within sixty days from the close of
this session of the conference, q salts
factory settlement be effected with the
creditors OF the Institute, then the ap-
peal now pending in the supreme court
OF appeals Of Virginia in the name of
Reeves Gait, trustee, VS.. Knabe & Co. ct.
ais, be dismissed and the trustees of the
institute take such legal steps as may
Do necessary to consummate the agree
mens with creditors and effectuase the
| purposes thereof.
| but II this provision for the debt
prevail 1t Is still necessary to provide
for the operation of the school for the
session OF 1896 z. and for that the fol-
lowing plan Is recommended: To organ
ize q company with capital stock Of
10000, divided into 200 shares $50 each,
subscriptions to said stock to be taken
and secured on the following terms and
lcondision, viz:
| II. That per cent. Of aaid stock be
paid on notice of the secretary of the
board OF directors hereinafter provided
for, not Later than the 18th of June,
the funds thereby secured to be used
under abe direction of said board of
directors in advertising and csnvessing
for patronage during such vacations and
Tor such repairs as may be necessary to
fit the premises for school purposes.
"2. That said board of directors pro-
coed to effect rental of the real estate
not later than the close of present ses-
sion for the term OF one or more years
the rental for said realty not to exceed
$1,000 for each year.
"3. That the personally be purchased
by said company when the same shall
be offered for sale, probably not before
october, '96), and that the stock of said
company be assessed for such an
smouns as may pc necessary to pay for
such purpose. 1t Is probable that the
sum needed for that purpose will not OK.
coed $4,000.
"a. That no other assessment than
those hereinbefore mentioned shall be
made on said stock within the mex,
twelve months after the organization OF
said company. except such as may be
necessary to pay in full the currens ex-
penses of the sessions of '96 and '97,
which may not be provided for by tho
current income from patronage and
| other sources.
rs. 1t the realty shall be offered for
| sale and the board Of directors shall de-
| cree 1t wise to purchase said realty, then
the capital stock may be increased to
S25 600 and assessments made thereon
as may be necessary to meet the terms
upon which said property Is bought.
"6. AT the same time 1T is underst TODD
that said board of directors shall have
tho privilege, should they deem 1t to
the best interest Of the company. to
provide for the deferred payments by
liens on she realty rather than by as
sessments on she stock.
W. Thss in the event OF the subscrip.
tion reaching the required $4,000 then
the subscribers shall be called together
before the expiration OF this conference
session for the purpose of electing q
board OF five directors who shall imme-
diately organize for the ends for which
they are chosen, and at esch annual ses.
sion OF the conference succeeding there
shall be such an election of directors.
"S. Provided also that preachers
daughters shall be educated free Of tu-
ition In every b:anch taught in the Iu-
stituse exceps instrumental and vocal
music from director In which Gaze the |
charge shall be no more than what Ia |
paid him by the Inatitnta. and rnadica