History of Randolph-Macon College, Virginia: The Oldest Incorporated Methodist College in AmericaIrby, Richard
History
History of Randolph-Macon College, Virginia: The Oldest Incorporated Methodist College in America
Irby, Richard
Randolph-Macon College; Randolph-Macon Woman's College
Bonds of the city of Petersburg and interest, . . . . . . $19,000
Bonds of the State of Virginia, . . . . . . . . . . . . . . 3,000
-------
(Classed available),. . . . . . . . . . . . . . . . . . . $22,000
Bonds Southside Railroad Company, guaranteed
by city of Petersburg,. . . . . . .$15,800
Stock Petersburg Railroad Company, 8,000
-------
$23,800
-------
$45,800
-------
Private or personal Endowment bonds, . . . . . . . . . . .$24,900
Legacy of W. B. Jones, . . . . . . . . . . . . . . . . . . . .500
-------
$25,400
=======
Confederate bonds, . . . . . . . . . . . . . . . . . . . $37,000
Confederate currency, . . . . . . . . . . . . . . . . . . . 7,536
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$44,536
=======
Leaving out the Confederate bonds, which were worthless, the balance
of available and possible assets were $71,200
Liabilities as far as known, . . . . . . . . . . . . . . . 8,854
-------
Net assets, . . . . . . . . . . . . . . . . . . . . . . . $62,346
This, under all the circumstances, might be considered a favorable
showing, and the credit of it is due to the faithful Investing Agent,
who also showed his skill and faithfulness by bringing through the war
the "Savings and Insurance Company," of which he was president, free
from wreck.
The resolution of the Virginia Conference in regard to the removal of
the College had been allowed to sleep since the committee's report, in
March, 1864. It was again brought forward by the following resolution,
offered by Richard M. Smith, Esq.:
"_Resolved_, That a committee of ------ be appointed to ascertain what
accommodations and on what terms and what inducements generally can be
obtained for transferring Randolph-Macon College to Petersburg,
Richmond, Lynchburg, or any other place, and also the earliest day at
which accommodations can be at command, and report to an adjourned
meeting of this Board."
This resolution was defeated by a vote of 12 to 6.
The following, offered by Judge E. R. Chambers, was then adopted:
"_Resolved_, That it is inexpedient and injudicious to change the
location of the College."
The ayes and noes on this were recorded, as follows:
Public-domain text, read in full here on John Shaqi.
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