will be entered as rapidly as required; the expenses of entering and of taxes are saved until the entry is made.

From the foregoing statements it will be seen that much labor and expense have been incurred by the University, and that more are unavoidable, in making this grant available, which could not have been-certainly were not-anticipated, and which are a draft upon the limited income of the University which it cannot afford.

A doubt has been suggested whether the Resolution of the General Assembly, assigning the land grant to Brown University, gives the same right to the University to reimburse itself for such expenses out of the sales of land, which the State itself had. The State intended to transfer, and the University intended to accept, and expected to incur all the rights and responsibilities which were created by the Act of Congress. If such a difference exists, or is supposed to exist, disadvantageous to the University, the General Assembly, there is no doubt, will willingly remove it by a remedial or explanatory act.

Respectfully submitted, in behalf of the Corporation of Brown University, by the Special Committee having the whole charge of the interest of the Agricultural Lands.

UNIVERSITY OF CALIFORNIA.

Berkeley, 4th November, 1889.

MESSRS. HALLIDAY & FINCH, Attorneys for Cornell University, Ithaca, N. Y.

GENTLEMEN.-Your circular of Sept. 12th, 1889, addressed to the Treasurer of the State of California, has been sent to me for answer.

First-There has been no judicial determination of the Act of Congress, July 2, 1862, in this State. None has been desired.

Second-The University of California is the beneficiary of the land grant. (Agricultural Land Grant of 150,000 acres.)

Third-The full 5 per cent. is paid to the University; in fact 7 per cent. is realized.

Fourth-The beneficiary itself pays expenses, i. e. premiums on bonds and all other expenses out of its own General Fund. Hence the Land Fund receives the entire income from Land Principal, which is never less than 5 per cent., and always more. State does not manage the sale of lands under the grant.

The

Fifth-The Land Fund is invested in State and County bonds and in mortgage on land. First mortgages only are taken.

Sixth-The State has entrusted the management of the Land Sales and the Land Fund to the beneficiary, viz: the University of California. The bonds are in the custody of the State Treasurer.

Seventh-We have realized from the sale of the 150,000 acres $708,925.91. There remains due from purchasers which is bearing interest, $62,760.95

Total $771,686.86, or say $5.00 per acre.

You will confer a favor if you will kindly inform me what you hope to accomplish by your friendly suit, also what your difficulties may be in the administration of your office.

Respectfully,

I. H. C. BONTE,

Secretary and Land Agent University of Cal.

MISSOURI.

OFFICE OF STATE TREASURER.

City of Jefferson, Sept. 18, 1889.

MESSRS. HALLIDAY & FINCH, 22 East State Street, Ithaca, N. Y.

GENTLEMEN.

In reply to your favor of the 12th inst., I beg to say, under the provisions of our law, the proceeds of the sale of lands donated to the State for the maintenance of Colleges for the benefit of Agriculture and Mechanic Arts, is held by the State Treasurer and invested in certificates of indebtedness of the State, bearing 5 per cent. interest, which interest is disbursed by the Curators of our State University at Columbia, for the support of an Agricultural College maintained in connection with the Univer

sity at that place, and the support of a School of Mines and Metallurgy, located at Rolle.

This fund aggregates the sum of $170,000.00, invested as before stated. We have no expenses such as commissions, premiums on securities, etc., hence pay none. The State has never parted with the custody of any of the principal of said fund, or entrusted its management to none other than the Curators of our University.

There has not been, as far as I can learn any judicial determination or construction of said Act of Congress.

Respectfully,

E. T. NOLAND,

State Treasurer.

INDIANA.

PURDUE UNIVERSITY,

LeFayette, Ind., November 6, 1889.

HALLIDAY & FINCH, 22 E. State St., Ithaca, N. Y.

GENTLEMEN.—In response to your inquiry concerning the financial management of Purdue University, dated Sept. 12th, and forwarded to me, permit me to reply as follows:

First-I know of no judicial determination upon the question which you raise.

Second-Purdue University, LaFayette, Indiana.
Third-Yes.

Fourth-All the proceeds of the fund without diminution is paid to the University.

Fifth and Sixth-The fund was, originally, in the hands of the Trustees of the University. The State subsequently took the money, under an Act of the Legislature and issued therefor a non-negotiable 5 per cent. bond, interest payable quarterly to the Treasurer of the University.

Seventh-Three hundred and forty thousand dollars. $340,000.

Very truly yours,

JAS. H. SMART,

President.

STATE OF MICHIGAN.

AUDITOR GENERAL'S OFFICE,

Lansing, Sept. 20, 1889.

MESSRS. HALLIDAY & FINCH, Attorneys for Cornell University, Ithaca, N. Y.

Your circular letter of 12th to the State Treasur

er has been referred to this Department.

As there was sufficient public land in Michigan, from which the donation made by the Acts of Congress of July 2nd, 1862, could be selected, Michigan