Vault Early Papers of the University Box 2 Document 72

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Oct. 16th. 5 o'clock, P.M.

The Board met & was opened with prayer by the President.

The same members were present as on yesterday.

Bishop Atkinson, from the Committee appointed to prepare Resolutions in reference to the death of Bishop Cobbs, presented the following Resolutions, which, on motion were adopted.

The Committee appointed to prepare resolutions in reference to the death of the late Bishop Cobbs, a former member of this Board, beg leave to report, the following.

Resolved 1st. That in the death of Bishop Cobbs this Board has not only experienced a heavy loss in common with the whole church which has been thus bereaved of one of its most eminent & useful Prelates, and with the community which has been deprived of one of the best and wisest and most {illegible} men of his generation, but has itself especially suffered in losing the services of a member whose zeal in its behalf was intent, whose counsels were always judicious, and whose great and noble {illegible: merited?} influence in his Diocese, and elsewhere, recommended to the publick {illegible} -{illegible} and {illegible} any enterprise he was known strongly to sustain.

Resolved 2nd that in the death of Bishop Cobbs, each member of this board feels that he has lost a personal, and highly valued friend.

Resolved 3rd that a copy of these resolutions be communicated to the family of the deceas -ed with the assurance of the sincere sympa -thy of the members of the Board, & their grief for the irreparable loss they have sustained.

Thomas Atkinson, Chairman

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{the following is struckthrough:

Oct. 16th. 5. o'clock. P.M.

The Board met & was opened with prayer by the President. The same members were present as on yesterday. Bishop Atkinson, from the Committee appointed to prepare Resolutions in reference to the death of Bishop Cobbs, present the following Resolutions, which, on motion were adopted.}

The following Report with the accompanying letter of resignation was presented by the Rt. Rev. Commissioner, the Bishop of Georgia.

The undersigned, late one of the Commissioners appointed by the Board of Trustees of the University of the South, for the collection & preservation of the Endowment of the University of the South, begs leave to Report;

That the Commissioners, as soon after the adjournment of the Board as was practicable, took advice from some of the most experienced Lay-Trustees, as to the practicability of continuing their mission. The unanimous opinion of these gentlemen was that nothing could be effected in the way of collection in the then uncertain & disturbed condition of the country, & especially while the position of Tennessee was undecided. Their advice was, to {struckthrough: put} place everything in connexion with the University in as snug a condition as possible, & wait events.

In pursuance of the instruction of the Board, the Commissioners, under the direction of the Board of Trustees, proceeded, as rapidly as incoming revenue would permit, to liquidate the outstanding claims upon the University, & to put a stop at once to all expenditures. They were engaged on this work, when they were separated by Secession, Fire,

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& war ; & circumstances have entirely prevented their meeting since the secession of Tennessee, North Carolina & Arkansas has {insert symbol}reunited our Dioceses. It was useless to prosecute any work, so long as Tennessee remained in the old Union : & she did not determine her status until June last, when the country was in the confusion of war, & my collegaue was defending his home & fireside, nothing has been done to advance the University.

It is impossible for the undersigned to make any detailed account of the receipts & expenditures of the Commisssioners, without counsultation with his colleague, in whose possession are all the accounts & vouchers. His position in the Army of the Confederate States has rendered an interview impossible. The undersigned can say, in a general way, that no loss has ensued to the University, & that every thing has been done which could be done to advance its interests. Your Commissioner trusts that the time may soon come when the Board may resume its active operations, & consummate the great work which has been so nobly begun.

In resigning his position as Commissioner, the undersigned desires himself to be considered responsible for all {struckthrough: the} transactions of the Commissioners, up to the date of his resignation,

Stephen Elliot,

Bishop of Georgia.

--------------------------------

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Columbia, S. C. Oct. 1861.

Rt. Rev. Dr. Otey,

Chancellor of the University

Dear Sir,

The political troubles of the country & the disturbed condition of all Financial matters rendering it {insert symbol}altogether impossible to collect, at present, any additional funds for the endowment of the University, I hereby beg leave to resign the office of Commissioner with which I have been entrusted. With the hope that the time may soon come when my honored colleague may resume his successful labors, I am very truly,

& respectfully,

your obedient servant,

Stephen Elliott.

On motion of Mr. Pollard, it was

Resolved, That the President appoint a Committee of Three, to act as a Committee on Finance to serve until the close of the next annual meeting of the {struckthrough: Board} Trustees.

Resolved That the Committee on Finance obtain, as soon as possible, from the Commissioners, & from the Executive Committee, Reports of the moneys expendded by them, or under their direction, & the source from which said {insert symbol}moneys were obtained; -- also of any debts contracted by them yet unpaid; -- also Reports from the Diocesan Treasurers who have not already made made their Reports: and as soon as they have obtained the necessary information to enable them to do so, they are hereby instructed to report to the Executive Committee, the condition of the Finances of the University, & send a copy of said Report to

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each member of the Board of Trustees: & that said Committee report again the condition of the Finances of the University to the Board of Trustees at their Annual Meeting.

Resolved, That the Executive Committee are hereby authorized, when they have received the Report of the {struckthrough: Executive} {insert symbol}Finance Committee, to apply such funds as may be in the Treasury, first, to the payment of any debts that may be due & unpaid; & any surplus, to the erection of such buildings, or to such other purposes as they may deem advisable.

The Chair appointed {struckthrough: as} such Finance Committee, the Rev. Mr. Mitchell & Messrs Pollard & Griffin.

On motion of the Rev. Mr. Mitchell, it was Resolved, That the Committee on Finance be authorized to have printed one hundred copies of a Form of Report, such as they desire to have filled by each of the Diocesan Treasurers of the University, & to furnish them, from time to time, to said Diocesan Treasurers, as they may need them.

On motion, the Board adjourned to meet tomorrow, at halfpast 4 o'clock P.M.

Oct. 17th half past 4 o'clock, P.M.

No quorum appearing, at this time, the meeting adjourned until tomorrow, at half past 4 o'clock, P.M.

Oct. 18th, half past 4 o'clock, P.M.

The Board met. Prayer was offered by the Rt. Rev. Bishop Elliott. Before the roll being called, the following members were found to be present --