El Paso herald. (El Paso, Tex.) 1901-1931, 1913-09-12

/ wv Lud4 SLep toward securing the
/ school of mines of the Texas
| university for Ell Paso was taken
! Thursday night when the budget fund
| trustees authorized the directors to pay
| over $4,000 to the present owners of
| the Isl PaSO Military institute upon
| their deciding the property to the state
of Texas. The total cost of the prop
| erty is to be $4,000 with 5 percent
| interest paid on deferred payments.
This was an Endorsement of the rec
OmmendatiOn of the directors of the
| chamber Of commerce whose recon-
mendatiOn read: That the present
owners OF the Ell Paso Military insti-
| tute upon the immediate payment by
/ the chamber of commerce of $4,000 will
deed the property to the state of Texas
with the understanding that the or
ganizatiOn will recommend to future
boards of directors, the annual pay
ment of a like, or greater amount, IN
til the property shall have been paid
for at a cost of $4,000, deferred pay
ments to bear s percent interest"
Members of the budget fund present
were: j. J. Mundy, o. H Baum, J. J.
Ormsbee, Thomas O'Keeffe, H. s. Pot
ter, Walter KOhlberg, II. 3. Stevens,
Felix Martinez, J. c. W1lmarth, 5. C
McCurdy. The directors of the cham
Der of commerce in attendance were:
V. r. Stiles, L A Shedd, ~ Schwartz,
c. II. Finley, George b. Evans, Robert
Snberberg, 5. J. Prudential and sec
rotary A. W. Reeves.
At the meeting between c. H Finley,
i. A O0eQu. A schwartz ana v. X.
Stiles, representing the chamber of
commerce, and Felix Martinez, II. 3.
Stevens, J. J. MUndy and c. NJ. New
man, representing the owners of the
Military institute property, WedneS-
day, the committee of the chamber of
commerce agreed upon the proposition
presented to the budget fund trustees
Thursday.
Martinez Explains Benefits.
Opening the meeung president V. r.
Stiles called upon Felix Martinez to ex-
plain the benefits of the school of
mines. and Mr.. Martinez said: AS a
matter of investment I do not know
what you could do that would bring
any more benefit TO FL PasO. The in
vestment is $4,000 with interest until
it is all paid You will establish the
school as a part of the university. Out
side of the irrigation system here, there
IS nothing of as great Importance 10
FL PasO as u school of mines.
The benefits of irrigation are lin
TIED to certain extent. The mines
school and the mining interests will
mean more to FL Paso. FL PaSO is to-
day the best mining center in the
United States. 1t is right here at the
gateway Of Mexico, the richest mining
country in the world. Some of the
finest residences in this city have been
built by mining men and are occupied
by them as their homes
As TO the value Of the property. It
cost $4,000. OF this $4,000 was paid
in and $4,000 was paid in interest
to take care of is the mortgage. If
there is any other property you can
secure, then don't consider US, but get
the school of mines If the chamber
of commerce is willing to give $4,000
then IL is up to US to find a way to
turn the property over to the state. We
do not know SuSt how that is to be
done, and we do not ask you to pay a
cent until it is turned over to the state
but give US the assurance that you
will, so that We can go ahead"
Tells of Property Value.
J. Q. Wilmarth was then selected as
chairman OF the trustees and called on
J. J. Ormsbee to tell what he knew
of the prOperty's value for use as a
school of mines. He said that he was
not well enough advised to speak on
this subject, but the school of mines
of Columbia university, considered sec
ond only to that at Freiburg, Germany,
1865, and has forged to the front and
the schools at Roller, No, and Golden,
Colo. have also grown steadily.
o. H Baum asked if it would be per-
MISSILE for the trustees to recommend
the appropriation of the $4,000. Mr.. Will
marth asked him if he did not think 1t
would come under the head of securing
new industriess and he agreed that it
would
Thomas O'Keeffe urged action in or |
der to get an opening wedge and start !
the thing moving.
L A Shedd said that when subscrip- |
tons were solicited for the budget |
fund, the contributors were told that |
it was to cover all manner of subscr1p- |
tons heretofore sought by the chamber /
Of commerce from time to time during /
the year.
S. J. Prudential asked II any eff
fort had been made to get the city or