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Caption: Book - History of the University (Powell)
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Seminary and College Funds 177 {or 548 acres remaining unsold including $100 of personal property. The property was then sold by the auditor at public auction on July 25, 1879, at the college buildings in Irvington, and brought a total of $14,608, one-fifth to be paid in cash and the remainder in four equal annual payments. Against this property there were encumbrances amounting in all to $6,509.95. On August 8, 1879, the auditor paid over $4,855.80 to the state treasury, a balance he had on hand after paying $252.19 on account of the expense of sales. On November 15,1879, $555.75 was paid to the state treasury by the auditor from the sale of products of the farm. By September 30, 1880 it was reported that $10,235.52 had been collected. This was $3,725.57 in excess of expenditures. There remained in notes still to be collected $5,188.27. This sum plus the surplus over expenditures mentioned above, amounting to $8,913.84, should have been returned to the treasury and credited to the seminary fund.87 The records in the auditor's office and the treasurer's office do not show that the $5,188.27 in notes were ever collected and placed in the treasury. The money paid over to the treasury in August and November, 1879 amounting to $5,411.55 was credited evidently to the regular revenue fund of the state.88 Approximately nine thousand dollars, the remains of the four and onehalf sections of seminary land donated to the Illinois agricultural college at Irvington have not found their way back to the seminary fund where they undoubtedly belong.89 "Auditors Beport, September 30, 1879. ^Letters from the auditor of public accounts and from the state treasurer, July, 1917. "The old college building stiU stands in Irvington and has been used for a children's home by the Baptists for a number of years. Incidentally it may be noted that at the Springfield meeting of the agriculturists in 1864 the institution made a bid for the funds arising from the land grant act of 1862, but nothing came of the effort. In the light of facts related above the state was fortunate that it did not turn any more funds in that particular direction.
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