100 A1>PEND1x.
It will be seen from this statement that in the last thirteen
years, by gathering up the wreck of Bacon College and 'I`ran—
sylvania University, and accepting the Agricultural College,
and by the toilsome, unpleasant work of begging from persons
all over Kentucky, I have accumulated over $600,000 worth
. ’ of stocks and notes, which, with the real estate, libraries,
apparatus, etc., make the aggregate assets of the University,
= at a fair estimate, worth $750,000. The work of raising, col-
lecting, and disbursing these funds, and their increase, and _
running the whole financial machinery of the Institution
during all the dark and troublesome times of the last ten ‘
years, has not cost the Board one dollar, except for a few
attorneys’ fees and postage—stamps. Nb szz/ezrics have been
paid for this work. Nor has the Board in all that time been
asked to give a bond or borrow a dollar to support the credit
0f the Treasurer, while he has been struggling to meet all the 1
obligations of the Institution which have been pressing so
heavily upon him.
V I take pleasure in stating also, that while many colleges
and other corporations in the country have lost heavily from
insolvencies and other causes during the great convulsions of
the last few years, not a dollar of these sacred funds which have
ever come into my hands has been lost, but that the whole of
it can be turned over at any time in good solvent stocks and
securities. The income arising from the vested funds has
been faithfully applied in meeting the general expenses of the
Institution, and has been so far commensurate with its growth I
i and present prosperous condition. It is confidently believed l
that by comparison with the expenses of other Institutions   `
having anything like the same number of professors and ti
students, it will be found that the financial economy of this l
Institution has been rigid, if not unparalleled; yet it has been il
demanded by a strict regard to its credit and reputation. _
I can not close this report without expressing my regret ·
~ that I have been unable during the past year to be in the field
for the purpose of increasing the funds of the Institution. It