The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1903-12-25
History of the Presbyterian lnstiIu.
ton at Albert Lea.
Manchester Co-educationaI Plan Was
Very Harmful to 1t.
Rev. c. B. Augur Had Wiped Out a
$4,000 Indebtedness.
Creditors Will Force the Affairs Into
Federal Court.
From Thursdays Daily.

From Thursdays Daily.
Further details respecting Albert Lea
college, an exclusive account of whose
voluntary assignment was published in
last nights Free Press, have been Sc
cured. This institution is a Presbyteri
an seminary for girls and was establish
ed about two decades ago, at the in
stance of a Presbyterian synodical meet
ing. AT this meeting it was practically
agreed that Manchester college at st.
Paul should be the Presbyterian college
of the state for the education of the
boys, while Albert Lea college should
perform the corresponding office for the
girls.
This arrangement was maintained for
many years. Eight years ago, however,
Manchester became co-educational and
many Presbyterian girls of the state,
who would otherwise have gone to Al
bert Lea, found it more convenient to
attend Manchester. From that time on
the college at Albert Lea began to de-
cline.
Unskilled financial management too
hurt the institution and sunk it deeply
into debt. Four years ago the trustees
found themselves confronted with an in
debtedness of more than $4,000 and
were well nigh in despair as to how they
should meet their obligations. Rev. G. B.
Augur at this time was made financial
secretary and he set vigorously to work
to raise funds to wipe out the indebted
ness. He canvassed in the state of New
Jersey, in Chicago and over a large part
of Minnesota for funds. Splendid sue
cess crowned his efforts and in two years
he not only had the debts practically
paid off but had raised an endowment
fund of $500. 1t was really mis-
fortune to the college when Mr.. Augur
left it's service. He has ever since been
in business as one of the proprietors of
the Macarthur Augur Land company of
Tracy.
During the past two years the prosperi-
ty of the college has been rapidly ON the
decline in every respect. During the
school year ending last June there were at
no time many more than twenty-five pu-
pills. This was about half the number of
girls that were enrolled there in more
prosperous days. Before the school year
was out the number of students had
dwindled to about eighteen. There were
about dozen teachers, good teachers too
who could be secured only through the
payment Of frstclass salaries. Often
there were only two or three girls in a
class. Miss Marion Long of Mankato,
who was there last year, says that in
some of her classes she was all alone.
The trustees say that the expenses Of
the college were far exceeding its in
come. Each girl paid 5000 per year to
attend the college. These fees would
have been ample had the attendance
kept up in anything like the way it had
been expected to do. 1t was plain that
Albert Lea college was doomed. Last
June money had to be borrowed to pay
off the teachers. In the following fall
only such parts of the curriculum were
resumed as were essential to the well
fare of the old students who could not
very well break off just at that time.
All things were adjusted with the idea
of gradually disseminating the college.
Yesterday morning, as last nights
Free Press stated, the trustees made a
voluntary assignment to President Free
man of the Security National bank of
far exceed its liabilities. The real estate
owned, including the campus with sew
eral good buildings, is worth in the
neighborhood of $4,000. The endow-
ment fund amounts to about $4,000. The
indebtedness is about $4,000.
Several of the creditors of the corpora
ton have decided to force the corpora
ton into bankruptcy, believing it die
proper thing to do under the circum-
stances. Attorneys Long e. Dyer have
taken steps to nave the corporation de-
clared bankrupt and its affairs adjusted
in the United States bankruptcy court.
An act OF bankruptcy, it is claimed in
the petition, was committed by the trus-
tees in placing the assets in the hands
of a receiver for the benefit of the
creditors.
What will be done by the corpora
ton with the surplus after all claims
have been satisfied can as yet o1ly be
conjectured. 1t is clears however, that
all the money donated to the callege
was given for the benefit of the Presby-