The age-herald., 1901-05-31
The Committee Recommends an Exchange of Certain
 Sections,
NO OEF|NATE ACTION TAKEN
Stated That Some of the Lands To Be Received By the University Can Be Leased On Advantage
 ous Terms.

Tuscaloosa, May 30. = Especially - The board of trustees of the University met dn annual session at 3:10 o'clock this af- fernoon. Captain Webb of the executive committee read a report on the land sale, dealing with the compromise as agreed to by T. H. Aldrich and pr. E. A Smith. The correspondence relative to the selecy tion of Dr. Smith as representative of the University was read, showing the com promise was originally suggested by T. IT. Aldrich. A letter from Phares Cole man was read. opposing the compromise settlement MT. Coleman desired a rail- road to be built to or through said land as. a condition precedent to the settle ment.
 The report of Messrs. Smith and All drich was read, the salient points being: sloss-Sheffeld Company quit claim to all lands involved. ,,i. g. Deed to University r forties north of Little Warrior river.
 8. Deed to University 4e forties on bouth side of river.
 4 University deed to Sheffield company 63 forties. ....t B. State return the purchase money.
 G. Sheffield company pay court costs not including Universitys attorney s fees.
 The arbitrators reported that the Sloss people would pay the necessary surface right to make the exchange as suggested. Prompt action was reported to be neces- sary.
 ,tf .. was as supplemental one to that of the arbi- trators. The plan. said. MT. Smith, had been followed strictly except the Sloss- Sheffield company had agreed to pay. costs. Dr. Smith stated that the Sloss company s representatives did not direct the report. MT Wood denied that the report had been submitted to the attorneys of the University Dr. Smith stated that the rought draft was shown to Phares Cole man, and stated that the draft shown the latter was carried out. President Hopkins of the Sloss-Sheffield company, Morris Adler, T. H. Aldrich and Attorney J. P. Tillman were invited to attend the meeting.
 Dr. Smith stated that he had received reports from several capable men who
  sse. On the point of accessibility pr. Smith stated that a road was being built through certain portions of the land. MT. Aldrich stated that portions of this road had already been built, and referring to the lease to MT. DeBerdeleben of lands at cents royalty stated that the difference between the famous sale and the leasing system was ten or twelve times greater in favor of leasing.
 Will Get Best Lands.
 By the compromise proposition the best lands contained in the sale will be re- turned to the university, he said. It will be hard to lease to parties other than the sloss-Sheffield Company. The reason of the desire on the part of the Sloss-Shef- field Company to compromise is that they have spent great deal of money near the university lands and have contracts with the railroads for tonnage. and they desire to continue mining where they have already invested in preference to crossing the Warrior river. The universi- ty gets back 1880 out of the original 44So acres. by the compromise. All of the lief ferson County lands will be returned to the university. Dr. Smith stated that he is of the opinion that the university could not possibly be the loser under the terms of the compromise. He advised that cer- tain adjoining lands be exchanged with Adler & Co. for Jefferson County lands MT. Aldrich stated that the two bodies oi land on either side of the Little Warrior will be connected by rail provided tonnage Is guaranteed.
 Mr. Aldrich stated he and Dr. Smith had gone over the land carefully. He had gone Into 1t as friend of the Uni versity. The purchasers were New York CTS, innocent men. and were entitled to at least moral consideration. He had seen President Hopkins and the latter had agreed to anything that was fair Part of the compromise report was with drawn by him and part by pr. Smith The 1O40 acres in Jefferson County are much more valuable than all of the Wal ker County lands. The lands traded by the University are four miles from the river, he said, while those they got are on the Warrior river. The reason the sloss Company should exchange is the desire to keep their contract with the railroad MT. Aldrich said if he were Hopkins he would not accept the com promise.
 Can Lease the Lands.
 A representative of a Birmingham com bany present was asked if his company would lease some of this land on royalty and he said it would.
 Sterling A. Wood stated he would not httempt to answer any propositions ol Statements made by MT. Aldrich or Dr Smith, as they have made life study oi soal lands but stated that 1t was under btood that lands would be given the uni rersity that were capable of leasing al bnce.
 The compromise presents @ tender oi hnds which he intimated are inaccessible There is a dark aspect to 1t. he said. be- lause there Is no proposition at hand tc ease the lands after they are gotten and 10 immediate prospect of the road being completed.
 The question of the compromise was hen laid over till tomorrow morning
 The committee has not agreed on a man b suggest for president.