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98 > Image 98 of Catalogue of the Officers and Students of Kentucky University, Volume 1 (1868-1869)

Part of University of Kentucky course catalogs, 1865-

r 96 A1>1=END1X. I . TREASURERS REPORT. ' Gc1zz/eww qf {hc Board q' Czzmz0rs. I . In accordance with the law of the University requiring the Treasurer to render a true account current of the state of his . office, I beg leave t0 submit the following report. ` For the information of those who have not been familiar A with the history of the various funds which have been raised for the Institution, I propose to give a brief statement of the same. 4 GENERAL ENDO\VMENT FUND. , A This fund was created as follows: In the year 1855 I , _ presented a plan for the establishment of a University in r _ Kentucky. Gathering up the wreck of the old Bacon College fund, which consisted of $9,500 in bank and road stocks, I `- began the work of endowment, and increased it to $203,200. f To this amount was added, by the act of consolidation, the It \ ~ Transylvania University fund, amounting to $65, 500, making s ` $268,700. Add to this the Agricultural and Mechanical ) College fund, consisting of $165,000, and we have the gross sum of investments and subscriptions amounting to $433,700. Deduct from this amount subscriptions unpaid and partly if I due, amounting to $4I,670.S6, and also the sum of $9,639.96, {I5 I which has been refunded to citizens of Mercer County under the Act of the Legislature, and we have left the present net available fund amounting to $382,389.48 The interest upon .,1 this amount, averaging abo_ut seven per centum, together with the fees of the students, constitute the general expense _ fund of all the departments except the Law College and Commercial School, which are sustained by the fees of I i the same. ! .1. l. , _