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been stimulated by the belief that the people would not tolerate it in their technical university. Surely they ought not to do so. The pride of the people of the State will not be satisfied with anything less than the best.

Now all this costs money, and will continue to cost money. I have tried to show in this report that very large and valuable results have been obtained from the expenditures that have been thus far made for the benefit of the University. I have also shown that the amount of money spent upon Purdue is comparatively small, and when it is remembered that of the actual cost of Purdue the State has paid and is paying less than one-half, it will be realized that, in the establishment and maintenance of the institution, the State has made a good investment.

In view of all this, is it not reasonable to expect that the people of the State will be willing to accord to the University that generous support which it has hitherto received.

October 1, 1898.

JAMES HENRY SMART,
President of the University.

TREASURER'S REPORT.

As Treasurer of Purdue University I hereby submit my report of moneys received during the year ending June 30, 1898:

From the State of Indiana, interest on State bonds.....
From the State of Indiana, July and January installment edu-
cational institution tax

$17,000 00

65,374 81

From the State of Indiana for Farmers' Institutes.

5,000 00

From the State of Indiana, part of $3,500 appropriated 1897 for repairs

3,186 98

From the State of Indiana, part of $10,000 appropriated for engineering department

8,214 39

From the State of Indiana, part of $5,000 appropriated for electrical engineering

4.884 46

From miscellaneous sources

23,152 98

$126,813 62

Also from the United States Government, ninth installment
Morrill Fund

$23,000 00

J. M. FOWLER, Treasurer Purdue University.

TOTALS IN GENERAL, MISCELLANEOUS, ENDOWMENT AND MORRILL FUNDS,

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*Liabilities against above balance..

I hereby certify that the above is a true report of receipts and ex

penditures in the funds mentioned.

E. A. ELLSWORTH,

Secretary Board of Trustees.

65 00

61 80

34 01

25 12

26 50

4,677 35

.$135,930 88

$135,930 88

$4,133 89

FARMERS' INSTITUTE FUND FROM OCTOBER 31, 1897, TO JULY 1, 1898.

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I hereby certify that the above is a true report of receipts and expenditures in the Farmers' Institute Fund.

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The above is a correct statement of expenditures from the specific appropriation for Engineering Department.

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The above is a correct statement of expenditures from the specific appropriation for electrical engineering.

E. A. ELLSWORTH,

Secretary Board of Trustees.

APPROPRIATION FOR REPAIRS FOR YEAR ENDING OCTOBER 31, 1898.

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The above is a correct statement of expenditures from the specific

appropriation for repairs.

E. A. ELLSWORTH,

Secretary Board of Trustees.

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