COMMONWEALTH OF MASSACHUSETTS.

TREASURY DEPARTMENT,

Boston, Sept. 27, 1889.

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

Gentlemen. —Your favor of the 12th instant, asking for information as to the proceedings of Massachusetts in the establishment of Colleges for the benefit of Agriculture and the Mechanic Arts under the Act of Congress, passed in 1862, donating public lands to States and Territories for that purpose, is received.

By the Acts of 1863, Chapter 166, Massachusetts accepted the grant of the United States, established the "Fund for the promotion of Education in Agriculture and the Mechanic Arts," and appropriated two-thirds of the income of that fund to the support of an Agricultural College. The remaining third of the income was, by Chapter 186 of the same year, appropriated to the use of the Massachusetts Institute of Technology, a corporation then and still existing.

Chapter 220 of 1863, incorporated the Trustees of the Agricultural College, and Chapter 186 of the Acts of the year 1864 appropriated one-tenth of the receipts from the sale of the Land Scrip towards the purchase of a site for the Agricultural Farın. During the years 1864, 1866 and 1867 all the Land Scrip granted to Massachusetts (for 360,000 acres of land) was sold, and the

which remained unchanged until Dec. 31, 1881.

In 1882, owing to the downward tendency of interest on investments, it was deemed advisable to separate the "Agricultural College Fund" into two parts, containing the grant from the United States and a grant from the Commonwealth respectively, in order that five per cent. on the investment of the United States grant should be assured. The one part was called the "Technical Education Fund, United States Grant," and the other the "Technical Education Fund, Commonwealths Grant," and they so remain.

The "United States Grant" amounted at that time to $219,000 and was invested in Boston and

Albany 5 per cent. 20 year R. R. bonds; this fund has remained unchanged from that time (1882.)

The "Commonwealth Grant," amounted in 1882 to $141,575.35 and is still of that amount.

Answering the questions in your circular in regular order, and remarking that the answers apply only to the part of the fund which came from the U. S. Grant, I have to say:

First-No "judicial determination or construction of said Act of Congress" in this State has come. to the knowledge of this department.

Second-The Massachusetts Agricultural College and the Massachusetts Institute of Technology.

Third-Massachusetts will no doubt pay the full five per cent. income, whether the fund earns it in full or not, but the actual income from investments has so far, never fallen below five per cent.

Fourth-The State Treasurer is also treasurer of the fund, and the management, superintendence, etc., is included in his duties and covered by his salary as Treasurer of the Commonwealth; no commissions or premiums have been paid on securities purchased for this fund, therefore, the gross income goes to its beneficiaries.

Fifth-The fund is invested in Boston and Albany R. R. 5 per cent. bonds.

Sixth-The fund has, from the beginning, been entirely in the control of the State, and can not be transferred without legislative action.

Seventh-Two hundred nineteen thousand dol

lars. ($219,000.)

I am,

Trusting the information will meet your wants,

Yours truly,

GEO. A. MARDEN,

Treasurer.

By JOHN Q. ADAMS, Pr. Clerk.

OHIO STATE UNIVERSITY.

BOARD OF TRUSTEES.

Thos. J. Godfrey, President, Celina.

David M. Massie, Vice-President, Chillicothe. H. J. Booth, Columbus, Thos. A. Cowgill, Kenard, R. B. Hayes, Fremont. Jos. H. Brigham, Delta. L. B. Wing, Newark.

Alexis Cope, Secretary, Columbus.

Columbus, Ohio, Feb. 3, 1890.

HALLIDAY & FINCH, Ithaca, N. Y.

GENTLEMEN.-I regret that I did not receive your circular of Sept. 12, 1889, and your letter of Jan. 9, 1890, to the Auditor of State of Ohio, sooner. They have just been referred to me, and I hasten to answer your inquiries, hoping it may be in time to be

of service.

First-There has been in Ohio, no judicial determination or construction of the Act of Congress, known as the "Land Grant Act."

Second-This institution is the sole beneficiary in this State of the grant mentioned in said act.

Third-The fund received from the sale of the Land Scrip, was paid into the State Treasury and made a part of the irreducible debt of the State, upon which the State pays the institution 6 per cent. interest semi-annually, without deducting for any cause, or on any account. This answers also your fourth and fifth inquiries.

Sixth-The principal of the fund remains undiminished, and, by the terms of the law providing for its custody, must remain so forever.

The State has never entrusted its management to the beneficiary or to any person for it.

The original fund was $342,450.80. It has been increased by unused interests, and from other sources until it is now $541, 132.44.

I should perhaps explain that under the law providing for its safe keeping, the interest is to be drawn Jan. 1st, and July 1st. If at any of these rests, any interest remains unpaid, it is added to the principal of said fund and draws interest from that date.

I would be pleased to have the decision of your courts on the questions raised in the friendly suit you mention in your circular above referred to, and will be pleased to give you further information if desired.

Yours truly,

ALEXIS COPE.