The Montgomery advertiser., 1901-05-31
UNIVERSITY TRUSTEES
EXPLANATION or LAND CON-
 PROMIsE IS MADE.
sloss- -shsfndd Company Willing to Exchange Other Tracts for That Bought by It During
 Johnston Administration.

Tuscaloosa. May 30.-(Special.)-The Board of Trustees of the University met in annual session at S:15 this af- ternoon. Colonel stansel of Carrollton. presiding on account of the indisposi- ton of Governor Sanford. Sterling Wood of the Advisory Committee was present. but Messrs. Massey and Cole man were absent. Captain James E. Webb of the Executive Committee, stated he was ready to report relative to the land matter, but the report was deferred. A communication from Gov ernor Stamford was read, requesting the meeting to adjourn to the Presi- dents office which was done. After doing so, with Governor Sanford pres ent, Captain Webb resumed the report relative to coal land leases, which was adopted.
 Captain Webb then read report on the land sale. dealing with the com promise on the land sale as agreed to by T. H. Aldrich and Dr. B. A. Smith,. The correspondence relative to the se- lection of Dr. Smith as representative of the University was read, showing the compromise was originally sug- gested by T. H. Aldrich. A letter from Phares Coleman was read, opposing the comproraise settlement. MT. Cole man desired a railroad to be built through the land as condition pre- cedent to the settlement. MT. Lomax, at this point, suggested that MT. Ald- rich or Dr. Smith should be present. The tenor of the report of Messrs. Webb and Pratt of the Executive Con- mittee. was to the effect that the com promise be accepted.
 The report of Smith and Aldrich was read. The salient points were that the Sloss- Sheffield Comp my quit claimed all lands involved. 2. Deed to Univer- sity IT forties north of Little Warrior River. 8. Deed to University 46 for ties on south side of river 4. Univer- sity decd to Sloss- Sheffield Company Ss forties. 5. State return the pur- chase money. 6. loss-Shefiieid Com- pany pay court costs not including University's attorneys fees.
 The arbitrators reported the Sloss people as buying the necessary surface right to make the exchange as sug- gested. Those bodies not obtainable are to be substituted with land se- lected by pr. Smith. Prompt action was reported to be necessary. Mir. Mo- Clellan asked that the minutes show that he agreed with facts but not that he concurred in the report of Webb and Pratt.
 Dr. Smith was then heard. His report was a supplemental one to that of the arbitrators. The plan. said MT. Smith, had been followed strictly, except the Sloss- s-Sheffield Company had agreed to pay the costs. Dr. Smith stated that the Sloss Company's representatives did not dictate the report.
 MT. Wood denied that the report had been submitted to the attorneys of the University. pr. Smith stated that the rough draft was shown Phares Cole man and that the draft shown the lat ter was carried out.
 President Hopkins of the Sloss- -Shef- field 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 authori- ties. who advised the acceptance of the compromise. On the point of acces- sibility, Dr. Smith stated that a road was being built through certain por- tiops of the land.i MT. Aldrich stated that portions of this road had already been built He said the difference be- tween the famous sale and the leasing system was ten or twelve times greater in favor of leasing. By the compro- mise proposition, the best lands con- tained in the gale will be returned to the University, he said. It will be hard to lease to parties other than the sSsii5s5- S Sheffield Sire Company. IT IL were possible to lease all of the body of land. and If there was a good possibility of winning the suit, it would be well to continue the suit. The reason of the desire on the part of the ss-Sheffield Company is that 1t has spent a great deal of money near the University lands and has contracts with the railroad for tonnage and 1t desires to continue min- ing where it has already inveSted, in preference to crossing the Warrior River. The University gets back 1,9sO out of the original 4,44S0 acres by the compromise. All of the Jefferson 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 certain adj oining lands be exchanged with Adler & Go. for Jefferson County lands.
 MT. Aldrich stated that the two bodies of land on either side of the Lit- tie Warrior will be connected by rail, provided tonnage is guaranteed. He said the present portion of the road was built after the sale of the Univer- sity lands to the Sloss- Sheffield Com pany, when the company guaranteed the tonnage. NJ. Aldrich said he and Dr. Smith had gone over the land care fully, He had gone into it as friend of the University. The purchasers were New Workers, innocent men, and were entitled to at least moral considera- ton. He had seen President Hopkins, and he had agreed to anything that was fair. Part of the compromise re- port was drawn by him and part by pr Smith. Rough drafts had been submitted to Phares Coleman.
 The 1,04O acres in Jefferson County Is much more valuable than all of the
 Walker County lands. The land traded by the University is four miles
 from the river, he said, while those they got are on Warrior River. The
 reason the Sloss Company wanted to exchange is the desire to keep its con-
 tract with the railroad.
 Mir. Aldrich said if he were Hop
 kins he would not accept the com
 promise. The question of a railroad does not figure greatly, as the road
 will be built because it's necessity and the amount of coal to be gotten from the land. the University will get is far greater than the amount it can get from the lands exchanged He referred | to the objections that the lands to be exchanged to the University were
 separated and said that Adler and | Cnmnanv would exchange lands to make 1t a solid body.
 A representative of Birmingham company present was asked if his com | nanv would lease some of this land on rovalty and he said it would.
 Sterling A. Wood said he would not attempt to answer any propositions or