The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-07-02
FATE OF COLLEGE
HANGS IN BALANCE
Trustees Decline AIumnae As
sociation's Proposition.
ANOTHER MEETING SOON
At This Il is Understood Final Action as 10 The
Fate Of Greensboro Female Col
lege May b, TX
Bected.
ANOTHER MEETING SOON
Especial to News and Observer.) }

Especial to News and Observer.)
Greensboro, N. c., July 1.-The board
| of trustees and stockholders Of the
Greensboro Female College decided this
afternoon, after a protracted executive
session, to hold another meeting, date
not determined, to receive from the
alumnae of the college or other organized
body acting in behalf of the institution
some tangible definite offer for the prop
erty, and at that meeting if the amount
proposed meets with the approval of the
stockholders to give the continuance of
the college the preference.
AT the meeting previous to the execu-
tive session a committee of twelve ladies,
with Miss Annie Smith. chairman, repre-
senting the State Alumnae Association,
presented petition asking for an option
of ninety days at the price of forty two
thousand dollars, the amount it was Of
fered to Trinity College for, and the ter
thousand dollar debt: in the mean time.
the alumnae would put in motion q can
vass all over the State for students, pledges
and subscriptions to the amount of one
hundred thousand dollars, the balance
over the purchase price, to be used as an
endowment fund.-
This proposition the trustees consider
ed and concluded they could not legally
act on without full meeting, at which
all stockholders were present, and it was
declined, the proposition being considered
too indefinite besides A. motion to set
another day for q meeting with notice
that a definite price and substantial guar
antee OF its forthcoming be then pre-
sented so that final action could be taken.
prevailed.
1t developed during the meeting that
$75, 900 had been offered for the property
to be used for other than educational
purposes.
The following members of the board
of Education of the Eastern Methodist
Conference were present, but took no
official action or made any proposition,
owing, it is said, to there not being
legal quorum present: Revs. A. p. Tyer,
l.. S. Massey, D. N. Caviniss, n. E. Col
train, DR.. ]. w. Jones, Mr.. J. H. South
gate.
No member of the Western Conference
Board of Education was present, due to
the failure of the chairman t6~get notice
of the meeting in time to notify others
of the committee. Truly does the fate of
the college hang in the balance.
The various conferences here today,
among the stockholders, the board of di-
rectors, the alumnae, the Boards of Edu-
cation OF the Eastern and Western North
Carolina Methodist conferences, over the
disposition to be made of the Greensboro
Female College give evidence of the great
interest already aroused in regard to that
institution of learning, the mother of
Methodist female education in the South.
While the immediate tangible results
could not be expected to be very def
mite on such short notice, it being one of
those things which ramlfy whole State,
requiring time to organize forces, and
secure financial guarantees, yet the ad-
vance made towards the accomplishment.
of the continuance of the college is most
gratifying. By some means the impress
sion seems to have gone out that the
Board of Trustees, desire the closing of
the school. There has been nothing in
their attitude to justify this. On the
other hand, they are anxious that it
should continue and will be only too glad
to aid all in their power to do so.
They are Greensboro men, devoted to
the progress of the city and to Method
ist education, as has been shown by their
carrying the college on their own fnan-
cial shoulders at loss for many years.
1t is said now that these trustees are
willing for the Methodist conference, the
alumnae, or any properly constituted body
to take the property, and to shw their
devotion to the cause, prominent mem
Der OF the Board of Trustees said this
morning, the offer they would accept
would mean sacrifice of at least $25 ,Ov0
to them.
There are forty thousand dollars worth
of bonds outstanding, and these were pur-
chased invs sent by the holders,
who expect par for them. There is in
terest due on them of ($1 ,200). The float
ing debt is t$10,000) and there is $4,000
in stock, making the property stand us at
($76,20). The offer made to Trinity was
based on the condition of million dol
lar endowment with capital sufficient to
run the college, without financial embar-
rassment. The same offer of $4,000 or
900 to other parties, without an en-
dowment or the cash to liquidate the $40
600 of bonds is very different PROPOSE
ton, but / believe the trustees will ac-
cept the offer for the sake of the institu-
IlOn Iney Iuvc. VI ele $zo,UOV Oh sLOcks
80 per cent of the whole is held by Messrs.
j. M and w. R. Odell, of Concord, and
Messrs. J. A. Odell, G. H. ireland and Dred
Peacock, OF Greensboro. Some stock is
held by parties in Raleigh. Fayetteville
and Durham.
1t is understood that large lot of the
bonds are held by representatives of the
Lily estate of Fayetteville.
The trustees of the college are Messrs
I aoa VIZ ID nI,fI. cs<..1<.a.