ENPages
[Dec. 4, 1797]
Report
Treasurer of the University of North Carolina In the semiannual meeting of the board in July last, the Treasurer had prepared a Report to belaid before them; but on account of the small number of trustees there present, it was not deemed necessary to be presented. He has therefore -tracted from the same from the said Report such parts thereof, as may merit the attention of the Board, and has added such other metters as he believes may afford them any information
The Treasurer reports, that agreeably to the direction of the Board at their last annual Meeting, he wrote to Mr Slade Attorney for the District of Newbern, requesting him to declare his intention with respect to his continuing to act as Attorney, and also to deliver to the Treasure all such bonds and Monies as has been received by him in that capacity. By his answer which accompanies this Report, the Board will perceive, he intended to have resigned his appointment in July. In May last the Treasurer recieved from him in bonds 680,,16,8, and in cash $125, amounting to 805,168. By his ccount of collections ... it appears that the whole of his receipts, as well for the sale of (Esehealted) Property as for donations, including Bonds, amounts to 881,101, and that he has disbursed 49,91. The Treasurer has entertained hopes of effecting a final settlement with him in the semiannual Meetin; but has been disappointed, having recieved from the said attorney no infomration since the month of May. He is now also unable to say whether Mr. Hade has since that time acted under his appointment.
The Treasurer further reports, that he has recieved from Gen. Thomas Person the sum of Five Hundred pounds, in full of his donation towards building the Chapel on Person Hall; and who a further sum of twenty five pounds as an additional donation. Gen. person being desirous of having the direction of the appropriation of this last mentioned sum, the Treasurer gave him a receipt to that effect. In this sum of Five Hundred and Twenty five pounds is included a Bond due by Mr. Hodges undertakes of the Chapel, and William Hallier, a mounting with intrest to the 12th of April last, to 273,, 19,,4. On this bond being endorsed by Gen. Person to the Trustees, the Treasure was directed to give him a recepit for as part of his Donation.
The Treasurer further reports reports, that he has made a settlement with judge Stone late attorney for the district Edenton, on which there appeared to be due to him for commifsions (after giving him credit for sundry [arrearages?] delivered to Mr. Miller succeeding Attorney, which are changed in the books of the Treasurer to the account of the said Attorney) the sum of 5,13,4. For this sum the Treasurer obtained Judge Stones receipt, as appears by the account settled, and entered the same to the credit of a bond due by John Hagan David Stone. In order to simplify his accounts and render them less liable to confusion, the Treasurer thought it most advisable to order this as a Cash transaction. Judge stone in his report
2 port of Lany 1795 mentions his having taken [illegible] of four unimproved lots in the lower of Manfrees bond, which remained unsold as he had no been able to collect a majority of the Trustees of that District. Healso takes notice of a valuable tract of land near the tower of Edenton, of which an adverse claimant held [illegible]. But as the Treasurer has never seen any Reports from the present Attorney of the District; he is ignorant of any xxxx measures that may since then have been taken by the said Attorney-
The Treasurer further reports, that pool Whitaker Attorney for the District of Halifare, has fully settled his account to the 16th of September Past, on which date there remained in hishands a balance of 94,, 17,, 6--
The Treasurer further reports, that he has accomplished a full settlement with Col. Osborn Attorney for the Districts pf Falisbury, Morgan, by which it appears that the balance in the hands of the said Attorney is for Escheated Property, 137,, 16,, 2 {pounds} and for arrearages Donations 107,, 11,, 6. Col Osborn in his Reportof December 1793 mentions his having [illegible] for the recovery of 600 acres of land in Rowan County proposed by John Johnston, and also of having entered on sunday tracts of land in the bounties of Cabarres Montgomery, of which 25,000acres had been sold, and that 7850 acres in Cabarrie, and 12, 500 acres in Montgomery, were reserved for the propose of compromising with aquitable claimants. Whether any decisions or compromises have since then taken place or bonds have been recieved for the lands sold, or whtether the residue of the lands has been since sold the Treasurer is unable to say-
Col. Osborn in his same report stated the lands of James Beagleston to be esecheated by the death of the widow, and requessted the Board to give their Attornies directions concerning them. As the Treasurer has seen no report from any of the Attornies respecting those lands, he is ignorant whether any steps have been taken on that Businegs.. The Treasurer also finds by Col. Osborn's Reports of December 1974, that several matters were mentioned to the Board in the Report, on which their instructions were requited; but he cannot say whether any orders were [illegible] regarding them. Col. Osborn states his having recieve a letter from Col. Martin Armstrong in answer to one he has written to him, respecting his ... of 423,, 6,, 8, which better was communicated to the Board: He also mentions that Benjamin Clevland, who is indebted in the sum of 184 [pounds], had removed to Georgia, and was in good circumstances. On these two point Col. Osborn was desirous of being directed as to the method of recovery.
The Treasurer has been infomred by the Attorney for the District of Wilmington, on that he had recieved [Illegible] belonging to the Estate of George Heir, on which all Gaulier lived, and had rented the same for a certain quantity of corn, for the payment of which he had taken Bonds. As to anything further that may have been done by the said attorney, the Treasurer has it notyet in his power to state to the Board. By the Treasurer report of the 6th December last that Board will recieve that the balance in the hands of the late Attorney for the District of Wilmington had been stated at 777,, 10, 8- to thid be added the sum of 1376 for the amount sales by him afterwards made, ... in May 1796, and 10 forso much found to be short of his sale in 1795, as appears by his Report of December 1796, as also the sum of 66,, 13, 4 for Bonds returned
returned to him by the Treasurer, the whole amount due by them at the date of his last report would be £2230,,4/. From this sum is to be deducted the amount of Bonds received from him viz. £1988, which would leave in his hands at the date aforesaid, a balance of £242,,4/. - It will however occur to the Board, that Mr Hills' account remained at that time unadjusted, as was observed in the Treasurer's report, and therefore that the above mentioned sum of £777,,10/8 could not be ascertained as the true Balance then due. For the same reason the Treasurer cannot with certainty say that the sum of £242,,4/. as stated above, is the true balance now due, as Mr. Hills' acct. has never yet been passed on by the Board, and still remains unsettled.
The Treasurer understands from the Attorney for the District of Hillsborough, that his other engagements, which necessarily demand his attention, have hitherto prevented him from collecting sufficient information of the affairs of the Trustees in that District to enable him to make a satisfactory report thereon; But such as he had obtained he would communicate to the Board at this Meeting.
The Treasurer further reports, that he has received from Col. Shepperd, Commissioner for the District of Hillsborough, in cash £439.5/. and in Bonds £1755.2.3, amounting in the whole to £2194.7.3. As he has not yet been furnished by the said Commissioner with his account of receipts and disbursements, he is unable to ascertain the total sum of sales of Confiscated Property in that District, or to shew the nett proceeds of what has been sold.
The Treasurer further reports, that in July last, he was about to effect a settlement with Col. Osborne Commissioner of the Districts of Salisbury and Fayetteville, agreeably to a statement of the sales of Confiscated Property in those Districts, delivered to him by the said Commissioner which amounted to £6919.5.1 as reported to the Board by the Treasurer in December last _ But on further examination, it appearing to the said Commissioner and the Treasurer, that some small mistakes in that state-ment had been overlooked, the Treasurer again returned it to Col. Osborn to be corrected, and it has not since then been in their power to complete the settlement.
The Treasurer further reports, that he has received the whole of the interest, as also reimbursement of principal, due on the Stock in the funds of the United States from the 1st of October 1794 to the thirtieth September last in [?] [?] 345.71. Dollrs equal to £172.17.1 _ He submits to the Board whether it would not be advisable to transfer the Stock of the University from the Books of the Loan Office of this State to those of the Treasury of the United States.
He has been informed there would be less trouble and inconvenience in receiving the Dividents from Philadelphia than from Edenton; and as he understands that the Board, at their meeting in Fayette in passed an Ordinance, directing their Treasurer to fund such sums of Money annually as could with convenience be spared for that purpose; he thinks that business could be transacted to more advantage in Philadelphia than here _ As he had supposed that the Board would proba-bly contemplate such a measure, he had written to Philadelphia to engage an Agent for that business, and has been informed that a Gentleman in that place, Mr John Story, will undertake the management of it.
In
In case the Board think proper to make such transfer, he will thank them for their instructions.
The Treasurer further reports, that the whole of his receipts since the 10th of December last, the day on which he settled with the Committee appointed by the Board, amount to £3928,,8,,5 and his payments to £2520,,1,,10 which, with [illegible] the sum remaining on hand at that day, [illegible] £1028,,13,,9, will have in his hands at this date a balance of £2637,,0,,4.
Altho' the Treasurer cannot, from what is above said, lay before the Board a full and complete statement of the Funds of the University, yet as far as can be at the present ascertained, he believes the following to be correct. It is however to be observed, and it must appear evident to the Board, that while there re--mains one account unsettled, a difficulty which he has industriously endeavor--ed to removed, no statement can be obtained but what must meet income measure be defective.
Cash on hand as aforesaid Bonds for Confiscated Property 142 due for 1797 1798 1799 Bonds for Confiscated Property 142 due for 1797 1798 1799 Other Bonds now due, including Mr. Hodges' Donations In the District of Halifax Hillsborough Fayetteville Newbern Wilmington Interest of the funded Stock, including reimbursement of Principal due the 1st of January [Dr?] 1798 $45.85 equal to Adlai Osborn [illegible] for Salisbury and Fayette about Adlai Osborn Attorneu for Salisbury Morgan For Escheated Property Arrearages and Donations John Whitaker Attorney for Halifax William Hill late Attorney for Wilmington forbonds delivered him Joshua G. Wright Atto for Wilmington for Bonds delivered him [table]
Anxious to obtain perfect knowlegde of the whole of the property vested in the Trustees throughout the State, without with his Reports must ever be incomplete, the Treasurer has requested the different Attonies to transmit to him accurate statements of all the Escheated Property within their several districts, selling forth the different tracts, number of acres in each tract, where situated, former owners, present [illegible], how circumstanced with the respect to the claims, & with every other information regarding the same which might be proper to communicate to the Board. - Hoe had flattered himself that he should have been able at this meeting to have shown those statements to the Board, but he is sorry to learn from some of the Attornies, that they have not yet had it in their power to comply with his request. For the satisfaction however of the Board, he begs leave to them a sketch of such lands belonging to the Trustees, as have yet to come to his knowledge.