Page 226

[in top left corner]
220

be best [illegible] to authorize the Committee to proceed with
this building in the spring, if the condition of the treasury
will warrant it
The following additional expenses will be necessary
1 Heating Apparatus say $1700. 3rd seating and furnishing chapel say $600.
2nd Labratory " 700. 4th Other furniture " 300.
5 Fencing and improving the grounds say 700.
Making a total of $4000. Half of this amount can be paid out of the
additional rent fund now in the treasury and the remainder out
of the additional rents of next year
I would respectfully renew my recommendation that $10,000 of
the additional rent fund already collected be intrusted
as an addition to our permanent endowment. The
reasons for this course and think obvious and
conducive
The appraisement on which this rent will be collected
for the next ten years, as named by the state board of
equilization was $1,042,570. From this amount the Board
dedicated 32 percent, learning the appraisement
$1,009, 207.76, which is $10,412.24 less than it was from 1870
to 1880. The rents at the present rate of the taxation will yield
$2926.70 from which must be dedicated the taxes collected
by the State on the College land held in fee. This sum
which in 1879 was $112 10 is paid [illegible] by the state to the college
but as it has been recurred for several years past it cannot
now be counted as a part of the addition to our resources
If by the interest on $10,000. we can raise the new income of
the institution up to $3300. or $3400. we shall occupy a much
[illegible] and more favorable position than we have held for
many years
I recommend the appointment of a committee on
the reorganization of the faculty to report as far as they
think proper during the present session of this Board
but to be continued with instructions to correspond and negotiate
with candidates for such position as in their judgment
it will be necessary to fill, all such negotiations however
to be subject to the approval of the Board
I regret to say that of the examiners appointed
last year by the Board no one was present and
there is therefore no report from them
Respectfully submitted
[illegible] WH Scott

Mr Welch moved that so much of the Report of the
President as refuse to the reorganization of
the Faculty and conferring of degrees
as stated and recommended in the report