had no "Scrip," but selected the lands and assumed the care and sale of them, and the management of the resulting fund. Sales, except where the parcels were mainly valued for timber, (in which case full payment is required,) are made on payments of 4 of the price down, the balance to remain perpetual if desired on interests of 7 per cent. payable annually. In case of delinquency in payment of interest on unpaid balance, the land reverts to the State, and is resold, all payments, both of principal and interest, received on the first sale being forfeited to the fund. The amount received on principal is loaned perpetually to the State on book account at 7 per cent. per annum, payable quarter yearly. The interest paid by the State and received from the purchasers on unpaid balances, is quarter yearly placed in the hands of the State Board of Agriculture which is the Managing Board of the Michigan Agricultural College, which is the sole beneficiary under the grant. All expenses of the care of the lands and resulting funds. are met from the general revenue of the State.

Reference is had to pages 1401, 1402 and 1403, Volume 2, Howell's Annotated Statutes of Michigan, for the law bearing upon the subject.

At the close of the last fiscal year, June 30th, 1889, the net proceeds of sale of lands on which the State pays interest, was $357,619. 20.

The amount of interest paid by the State on the fund loaned to it during said year, was $24,551.32.

The net interest received during the same year from purchasers on unpaid balances, was $6,771.37.

Income for interest fund during year, $31, 322.69.

At the close of said fiscal year there remained of the grant 114,094.61 acres still unsold.

There has been no judicial construction in this State, of the laws relating to the care and management of the grant or resulting funds.

DEAR SIR.-In 1862, the Congress of the United States passed an Act; "Donating public lands to the several states and territories which may provide Colleges for the benefit of Agriculture and Mechanic Arts," and apportioning to each State public lands or land scrip equal to thirty thousand acres for each Senator and representative in Congress.

The State of New York made Cornell University, at Ithaca, N. Y., the sole beneficiary of the fund derived by it from the said lands or land scrip.

There is now pending between Cornell University and the State of New York, an entirely friendly action, in which both sides ask for a judicial construction of many provisions of said Act

of Congress, and a determination of the obligations and relations of the State to the said fund.

It is deemed desirable to ascertain as far as possible what has been the actual practice in the various States and Territories in regard to the management of said Agricultural Land Scrip Fund. As every State will be interested in the decision in the above case, we venture to make the following inquiries in regard to the management and condition of the fund in your State :

First-Has there been any Judicial determination or construction of said Act of Congress in your State? If so, can you inform us where the decision is reported, and as to its general nature?

Second-What institution is the beneficiary in your state? Third-Does your State pay to the said beneficiary the full 5 per cent. income contemplated by said Act of Congress, whether the fund actually earns 5 per cent. or not?

Fourth-Does your State pay out of its general funds all the "Expenses of the management, superintendence, &c.," of said fund, such as commissions, premiums on securities, &c. ; or are these expenses taken from the actual income of the fund, and the balance of said income only turned over to the beneficiary?

Fifth-Briefly and in general terms, please give us the nature of the securities in which the fund is invested.

Sixth-Has the State ever parted with the custody of any of the principal of said fund; or intrusted its management to the beneficiary, or to any other person for the beneficiary?

Seventh-What is the amount of the principal fund in your

State?

If you, as Treasurer of your State, are not the proper person to furnish the above information, will you kindly see that this communication is handed to the proper officer or department? An early answer is much desired.

Very truly yours,

HALLIDAY & FINCH,

Att'ys for Cornell University, Ithaca, N. Y.

Respectfully referred to Secretary Timmen,

H. B. H.

First-There has been no judicial determination or construction of said law in this State.

Second-The State University, which has an Agricultural Department.

Third-The annual State Tax for the University. is % of a mill on all taxable property in the State. This Tax for 1888 was $71,653.73.

Fourth-The State pays from General fund all expenses of management and superintendence of said fund. Premiums on securities are paid from the fund income.

Fifth-The income is derived from interest on unpaid amounts on contracts of sale of lands, on bonds of the United States, certificates of indebtedness of Wisconsin, bonds of counties, cities and villages within the State, also loans to counties, cities, villages, towns and school districts in the State.

Sixth-It has not.

Seventh-September 30, 1888-$363,738.98.

WEST VIRGINIA.

CHARLESTON, W. Va., December 3d, 1889.

HALLIDAY & FINCH, Ithaca, N. Y.

DEAR SIRS. The delay in answering your letter was caused by my having to send to the University and examine the records of that school.

Answer to question First-There has been no judicial decision.

Answer to question Second-The West Virginia University.

Answer to question Third-No.

Answer to question Fourth-The management of the fund is intrusted to a Board of Regents, whose expenses are paid out of the General Treasury of the State.

Answer to question Fifth-Invested in currency sixs, or Pacific Railroad Bonds, guaranteed by the General Government. In the name of the Governor of West Virginia, for the benefit of the West Virginia University. The interest is six per cent. No part of the fund has ever been used.

Answer to question Sixth-The Treasurer of the University is the custodian of the bonds; the management of them is in the hands of the Board of Regents of the West Virginia University.

Answer to question Seventh-The amount is ninety thousand dollars.

Yours respectfully,

W. T. THOMPSON,

Treasurer.