APPENDIX TO CHAPTER VII
BIBLICAL RECORDER, March 1, 1876
The undersigned were appointed by the Executive Committee of the
Board of Trustees to prepare a statement given below. It has been
prepared with considerable care and labor, and is believed to be ac-
curate. The accounts are all properly itemized on the Treasurer's
books but we have taken the liberty of throwing the small amounts
together in some cases, to avoid making the report too long.
The only part of the original endowment fund left in 1865,
consisted of Deep River bonds endorsed by the State, whose par value
at the time of their issue was $29,000. These bonds were exchanged
in 1867 for 260 shares of the Raleigh and Gaston Railroad. The Deep
River bonds yielded no interest up to the time of the exchange and we
learn that they have yielded none since. The College was reorganized
for regular work in 1867.
Below we give a statement of the receipts and disbursements year
by year.
December, 1867, to June, 1868
RECEIPTS
From notes and subscriptions ..................$ 2,298.38
From Dividends on Railroad Stock.............1,300.00
From borrowed from J. S. Purefoy.................936.22
From other sources 541.94
$ 5,076.54
DISBURSEMENTS
Repairs, including roof on College...........$ 2,778.16
Faculty on salary..........................................2,224.38
Balance due Treasurer for 1866-67 74.00
$ 5,076.54
June, 1868, to June, 1869
RECEIPTS
From notes and subscriptions ..................$ 2,413.57
From dividends on railroad stock...................819.00
From other sources 739.62
$ 3,972.19
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