The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-02-03
PRINCIPAL METHODIST
SCHOOL IN DISTRICT To
ABANDON ABINGDON SITE
Million Dollar Endowment
to Sustain Insti-
tuition.

Hedding college, one of the oldest
Methodist colleges in the country
located since its inception in 1856
in Abingdon, will be removed to
Rock Island il the offer OF the Rock
Island Chamber of Commerce, made
today following conferences with
off cials of the institution and the
directors OF the chamber, is ac-
cepted by the board of trustees OF
the college and the heads OF the
Methodist Episcopal church.
The board of trustees of Hedding
college will be convened. in Rock
Island in the near future to con-
slider the proposal If accepted by
the trustees, it will be placed be-
fore the conference of the Central
Illinois conference of the Method
ist church, which meets in Rock Is
land the middle of next September.
Board of trustees and the Central
Illinois conference of the Methodist
church are to increase the produc-
tive endowment fund of the insti-
tuition to 100000
Through its Chamber of Com
merce, Rock Island is to provide
fund of $500, 600. of which $4,000
is to be used in the construction
and equipment of buildings, $3.50
600 to cover losses sustained by the
college by reason of the removal,
and $4,000 for site.
The agreement specifies that
fort shall be made to raise the nee
essary money, erect the buildings,
and move the institution from Alb
ingdon to Rock Island by the open
ing of the college year, September.
1923.
A site for college in Rock Island
has not as yet been selected, al
though several possible locations
are under consideration.
The whole of Rock Island county
| is TO be the exclusive territory OF
| the Chamber of Commerce for the
solicitation of the $500, 900 fund,
and DR.. John W. Hancher, coun
sellor and director of the board Of
education of the national church
organization is to cooperate in the
solicitation.
This board has already raised
$25, ,OOO, 900 for Christian education,
and is nov charged with the re-,
sponsibility of raising $125.000.000
! in the next decade. F'orty-tWO
trained workers assist DR.. Hancner
| in his work.
Made Thorough Search.
| Officials of the college were in
Rock Island Tuesday evening con
| ferring with the committee repre-
senting Rock Island interests, and
| the announcement that is made D
day follows upon a thorough and
detailed investigation.
The present property valuation
| of Hedding college is $225 800.
Adding the equipment, estimated
at $36. $4,000, the grand total is
| 1851 $500 The total capital
funds of the institution are $359,-
400 90, including a total productive
endowment OF S230.800.0O
Thus the college estimates that
the value of all its property hold
ings is $620,853.
| Authorities of the institution de
clare that a loss of $245. .730 would
result by reason of the removal
from Abingdon, this sum including
the depreciation in value of pres
ent college buildings. the loss OF
productive endowment to the extent
of $4,000, interest bearing notes
/ and the cost of the transfer of ma
teriaI property. Outstanding Obii-
cations of the college amount %
S53,550
Members of the board Of trustees
| figure that the total assets trans
ferrable to Rock Island amount 80
$1,021 ,573, this sum including an ell
! ICo,ttnrod =, po.a Eror-+ea,