Year: 1872




nec,ed us financial agent with the above
Association from its incipiency to the
present, deem it due to myself, to my
brethren, and to the public, to make
brief statement in relation to its present
financial condition. To do this, it will
DO necessary to mention tho circumstances
which gave rise to the company.


In March, 1870, the Indebtedness Of
Troy Christian Institute amounted to
about twelve thousand dollars, for the
paynent of which some fourteen men
were bound as securities. The assets Of
the said institution amounted to only
about two thousand dollars. A sale of
the property Of the Institute seemed in
cvitable, to prevent which, however, q
joint stock company was formed by the
securities aforesaid, to which was turned
over the property and assets Of the In
stitute. This company is Incorporated
under the name and style of Troy Chris.
tian Institute Association. Its main
object was to pay the debt aud give the
Church time and opportunity to redeem
the property. The Church has been
appealed to in vain for the necessary aid
to relieve the securities, and thus carry
OFT the object Of the liberal founders Of
the Institute The stockholders, there
fore, at their ing held In Troy, Mo +,
on the 25th ult resolved to offer the
property for sale, as appears in the last
weeks issue of your paper. The stock.
holders were impelle1 to this course by
the fact that the few have more money
invested in it than they can we'll afford,
while others equally interested, aud
much more able, are bearing no part of
the burden.


The securities have, from the beginning,
looked to the interests of the Church,
and have ever been ready and willing to
give literally to make the school the
property of the Church. They have
asked to be but partially relieved but no
relief has come, or so little that they fnd
themselves compelled to shoulder about
three. .lourths Of the debt, which, including
accumulated interest, will be near ten
thousand dollars. The founders Of the
Institute had hoped to make this school
a star and crown Of rejoicing, not only to
the Christian brotherhood, but also to the
town and country round about Troy.
That hope we have with sad hearts and
with great reluctance yielded; but it has
left Us none the less the friends of general
and liberal education. AS we have failed
of our object of making college Of the
first class, We propose to sell it into the
interests of the common system Of free
schools--a a system founded, alike, in wis
DOM justice and benevolence u system
free from sectarian bias and self-hness,
and which places the means Of education
within the reach Of all system which
levels all distinction between poor and
rich, giving the same start, educati9nally
in tie race Of life to all our sons and
daughters. If success crown the sugges
tIons herein made, we shall feel that,
although our original project has been
frustrated, all our labor and toll has not
been wholly in vain,


If the people of Troy and vicinity de
sire to inau,urate graded free school in
their midst, and believe that our property
is desirable for such purpose, tney can
have it upon terms, as to price and pay
ments, encouraging to immediate eifol,s
for the Inauguration ofruch an enterprise


In conclusion, for myself as financial
agent, | have neither defense nor apology
to make; but for my brethren | will say
this: At the time this property was
bought and these debts incurred, the
common system Of free schools had not
been adopted in Missouri, and since its
adoption they have been heavily taxed to
build up high schools in their own
midst until they have felt that they had
but little or nothing to help US. Had
they been appealed to at the outset they
would doubtless have literally responded.
And, further, believing that free schools
are destined to suIercede all other inst
tutions OF learT,ug oavo FIRST class col
'eges, they have regarded our enterprise
here as sort Of local interest that must
take care of itself


T. FORD.
NoTICE. individual who slyly
picked up the pocket book Of l.. G
oh ha H. T,L .II