The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1923-11-16
COLLEGE.T TO BE DISCUSSED
AT MEETING
Stockholders VIII Decide On Several
Matters Concerning This Edu-
.-. eationai Institution


fetal organ of the National Luther
an Education association, printed at
Boone, Ia. the question Of the
transfer of the Bethany college
property Of this city will come up
for consideration at meeting Of
the stockholders on November Is.
The Bulletin has the following to
say in regard to the proposition: :
Bethany College Incorporated,
located at Mankato, Minnesota, Is
one of a few institutions privately
owned and affiliated with the Evan
gelical Lutheran Synodical Confer
ence of North America. 1t never
was attended by large body OF
students, the number ranging from
about fifty to one hur dred- fifty in
most of its existence. Within recent
eyars it became accredited in the
state schedule of higher schools.
Financially Bethany college has
not been self supporting, that is the
ordinary income from tuition and
other sources has been inadequate.
There is no endowment, hence no
coveted by schools and colleges. The
present indebtedness, bonded ana
otherwise, aggregates $50,000.00,
most of which comes due in 1923.
The property title is held by about
$50 holders of common stock, ag-
gregatine a total of 1900 shares,
with par value of $500. No dividends
have been paid to stockholders.
Support has been solicited locally
and among Lutherans in Minnesota
and other states.
Stockholders Meeting November IS.
"a stockholders meeting was
called for September 20, 1923, to
consider the exchange OF Bethany
college for land in North Dakota,
but the proposition, although ap-
proved by the board of directors:
was rejected by large majority or
the stockholders. The meeting then
adjourned to convene again at Man
kato, November Is, when several
propositions are to be considered.
looking forward to bring about more
favorable conditions. .-.
1T is likely that three PROPOSE
tons will be presented to the stock
holders on November 15.. These are
reported to modified proposition
to exchange the institution tor
real estate to have the college
taken over by a proposed organiza-
ton of the Minnesota district of
the National Lutheran Educatio.,
association, and to place the contro!
into the hands of responsible IN
dividual or holding committee un-
Til the institution is merged with
the synodical conference.
proposition No. /, as reported TO
us, is to exchange Bethany college
for about 1900 acres of land IN
North Dakota. This is to be a riod-
ification of the tentative contract
which is printed in The Bulletin No.
20, which see. s
proposition No. 2, so we are in
formed, is plan to have the Ma
tional Lutheran Education associa-
ton establish a special organization
in Minnesota for general education
al purposes and to aid Bethany col
lege. The plan involves that the
Minnesota district be organized on
November IA, at Mankato, and that
this district of the National Luther: :
an Education association will un-
dertake to rehabilitate, and solidify
Bethany college as well as to pro :.
mote other lines in educational
work. 80,
proposition No. 3, consists of a
plan to- place the control in the
hands of an individual or a holding
committee, which, in. either case,
will in the course of three years
turn the Institution, fully rehabili-
Gtated and accredited, over to the syn
odical conference, insuring 1t to be
perpetually Lutheran. Proposition
No. 8 has been tentatively drawn
and is printed in this issue of The
Bulletin, subject to revision and ap-
proval at the stockholders meeting
on November 18th. This proposition
will cause the control of Bethany
college to come under the manage
without any cost to that organiza-
ton. --. =.
Stockholders Should Take Notice
"All stockholders should be in at
tendance November Is, If it becomes
impossible for any stakeholder to
attend, no proxy should be signed,
unless the proxy is placed in the
hands of trustworthy associate
who will himself be present at the
meeting. Remember. that any person
who signs proxy gives away his
right and, places Mis- interests into
The hand of another.
ANY one who has already signed
proxy can either recall it or can
SOAAS LIZ POI oO4 " luC
thereby act and vote for himself.
Letters have come to The Bulletin
stating that persons have written for
proxies and have gone out into the
country and in towns to gather M
proxies for the purpose of control
ling the meeting. In doing this they
have not fully explained some of
the. propositions that will be pre-
scented. ~ ~ - : = d"
For these reasons personal atten-
dance at the meeting is the only safe
course to pursue at this. time, unless
the proxies are placed in the hands
Of persons known to be trustworthy.
Otherwise give no proxy and recall
" 1t has already been signed.
!, Notice is hereby given to all mem
bers of the National lutheran Fdu-
cation Association who reside in
Minnesota that meeting will he
held at the Club Rooms Of the Luth-,
eran Parcchial school in Mankato,
on November II. 1923. beginning AT
10 o'clock A. NJ. The purpose Is to
organize the Minnesota district at
ret time and to transact
iness."~ E-.. :,