Trustees Records, Vol. 2, 1854 (page 143)

143

from the Treasurer a statement of the product of sales
of land from 1847 to1855 inclusive _ say nine years _
amounting to one hundred and fifty seven thousand
three hundred and one dollars ($157.301) to which add
the estimated amount of sales in 1856, say nineteen
thousand dollars, making the aggregate for the preceding
ten years of one hundred and seventy five thousand three
hundred and one dollars, or seventeen thousand five hun-
dred and thirty dollars a year on an average: _

For the last four years, the average is twenty two
thousand five hundred and fifty five dollars a year.

Permanent Fund Continued

During the same period of time _ say ten years,
the average of ordinary expenses of the Corporation,
has been as near six thousand dollars as the Treasurer
could compute it without a minute and unnecessarily
exact examination of the accounts. On the same principles
the average for the last four years is nine thousand
three hundred and seventy five dollars a year. Each
Trustee can form as good a judgment of the future
prospects of the Company in regard to the product of sales,
as the Committee can: but the Committee suppose
that for some years to come, the sales will not be
less than they have been during the year 1856, but will
be more. If this estimate be well founded, and the
ordinary expenses do not exceed ten thousand dollars a
year, there will be in the Treasury a balance of ten
or eleven thousand dollars, to be applied to the discharge
of the debts of the Corporation, and any other extraordinary
expenditures.

The present debts, including the mortgage for the Stone