Evening journal., 1901-03-23
Bishop GOOdSeII Offers to
Help Raise Money
NEW PRINCIPAL CONTRIBUTES
Conference Will Vote on the New
Constitution on Monday Morning
at 10 O'clock

When the report CT the president and
board of trustees OF the Wilmington
Conference Academy was read in con-
ference this morning, the members
were made fully aware that it is neces-
sary to take immediate action to pay,
the Indebtedness of the institution or
allow a foreclosure, which would
mean an entire loss of the academy.
There are debts against the institu-
tion amounting to about $4,000, and
heroic measures are recommended for
the payment of the same, as holders Of
certain mortgages threaten foreclosure.
1t also is necessary 10 fill the school
with pupils and keep it full. After the
reading of the report, the officials of
the board presented plans for meeting
the emergency.
PLAN FOR PAYING DEBT.
The board Of trustees Of the Confer
ence Academy, as a practical measure
for raising the debt, recommended that
the entire amount be carefully appor-
toned to the several pastoral charges
and that a supreme effort be made on
the first or second Sunday in June
next to be known as Conference
Academy debt-pay.ng day, and that
the money collected be paid to the
treasurer of the academy on or bsfore
the first day of July. They further
recommended the Appointment of a
committee of twelyc-three from each
district, including the presiding elder,
one minister and one layman-to make
a careful apportionment of the debt to
the various charges and to superintend
its collection.
They further recommended the fol-
lowing persons 10 compose that COM
mittee:
Dover, Presiding Elder Baker, Alfred
Smith, J. E. Carroll; EastOn, Presiding
Elder C0rkran, ]. A. Arters, Dr.. A. f.
Sudler; Salisbury, Presiding Elder
Martindale. c. A. Hill, w. II. Jackson;
Wilmington. Presiding Elder Watt, W.
l.. S. Murray, G. w. Todd.
PREACHERS APPROVE PLAN.
Expressions were made by the lead
ing pastors and presiding elders in
favor Of the June debt-paying day. The
Rev. Vaughan S. Collins DIR. Watt, DR..
Martindalc, James T. Van BurkalOw.
Alfred Smith,, and many others are Of
the opinion that the debt must be paid
and the school must be saved They
say that the school will be continued
If the mission work of the church has
to be shortened.
ACADEMY TRUSTEES REPORT
The report Of the school year 1899
1900, as 70 attendance of students and
expenses, is as follows:
Number Of students enrolled during
the year, los; number of boarding stu
dents, 80; day students, 54: special
students, l5; total receipts from stu
dents, SS,S9S.02 total receipts from all
other sources, S4,03541, making a to-
tai Of S12,93343; total household ex-
pensss. S7,492.31; total salaries paid,
$4245; other expenses, S4,0S904; total
expense, $15.S2635; less amount due at
beginning, 81 ,367; leaving net expenses,
Sl4,459.35; making a net deficiency of
Sl,525.92; and adding to this the
amount received from DR.. Hanna
$S16.97; total deficiency, s2,342.S9 for
the school year.
REPORT OF FINANCE COMMITTEE
The Committee on Finance appointed
to consider the finances of the board
reported as follows: Due and unpaid on
the first mortgage, SS,70O; due and un-
paid on the second mortgage, $4,000;
unfunded debt, S1250O.
The bonds obtained by the first mort
gage have been due for a number Of
years, and the holders thereof arc
apparently willing that the sad debt
should remain unpaid, being satisfied
with the security OF their lien.
The holders Of the second mortgage.
which fell due on the first instant, ex-
Pect TO receive their money. and al
ready several of them have demanded
payment
UNFUNDED DEBT OF INSTITUTION
According to the report of tho Com
mittoe on Finance, the unflnded debt
consists of a judgment bond. 81. 500.
executed by the corporation, on which
nearly all the members Of the beard
are ind vidually liable. This bond Is
held by the First National Bank of
Dover. and arrangements are being
made with the executor OF the estat
of Samuel Wharton one of the securi-
ties on said bond, together wth other
available funds. to reduce the same to
$500 by the payment OF $500 On the
principal.
There are two notes held by the es-
tate Of William II. Jacobs. deceased.
aggregating in amount $780, both OF
which have long since matured.
Negotiable notes held by the First
National Bank Of Dover, part of which