page_0491

annual rental of $50 for ten years and under
this condition the land was purchased for the
sum of $5540.60/100.
But little was done [during] this
year towards the further prosecution of the work
of the Endowment Fund. The subscriptions
were paid on the whole with praiseworthy punctu-
ality, and at no expense to the University.
There was however a deficit of $1489 in the
University Finances, owing in a great measure to
the fact that the annual grant from the Church,
of $2450 towards the Theological Department
had not been received in full in consequence of
the inadequacy of the College Fund, less than
half the amount only having been remitted to
the Treasurer. In view of the fact that
Knox College had reported that it would thereafter
require much less than it had needed up to 1875 a
request was made to the General Assembly to direct
that the College Fund should be divided according
to the altered requirements of the Colleges.
Considerable additions were made to
the Library during this winter, including a large
portion of the late Dr. Machars library.
Among the advantages enjoyed in
connection with the new building, was

1880-81
[?]