History of the Agricultural College Land Grant of July 2 1862 Together With a
History of the Agricultural College Land Grant of July 2 1862 Together With a
Samuel Dumont Halliday
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Messrs. Halliday & FI^XH, 22 East State Street, Ithaca, N. Y. Gentlemen. — In reply to your favor of the 12th inst. , I beg to say, under the provisions of our law, the proceeds of the sale of lands donated to the State for the maintenance of Colleges for the benefit of Agriculture and Mechanic Arts, is held by the State Treasurer and invested in certificates of indebtedness of the State, bearing 5 per cent, interest, which in- terest is disbursed by the Curators of our State Uni- versity at Co...lumbia, for the support of an Agricultur- al College maintained in connection with the Univer- 34 sity at that place, and the support of a School of Mines and Metallurgy, located at Rolle. This fund aggregates the sum of $170, 000. 00, invested as before stated. We have no expenses such as commissions, premiums on securities, etc. , hence pay none. The vState has never parted with the cus- tody of any of the principal of said fund, or entrust- ed its management to none other than the Curators of our University.
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