Receipts, . . . . . . $11,350 02
Expenditures,. . . . . 10,516 26
Balance on hand, . . . . $833 76
Appropriations for the first year (including salaries of agents of the
College, $300), $4,500.
A steward for the Boarding Hall was elected. The price of board of students was fixed at six dollars per month at the Steward's Hall.
On motion of Rev. William Hammett, Rev. Stephen Olin, of Franklin
College, Georgia, was unanimously elected President of the College.
It was ordered that the College be opened for students on October 9, 1832.
Prof. Edward Dromgoole Sims, A. M., of LaGrange College, Alabama, was elected Professor of Languages.
Dr. Olin and Prof. Sims subsequently accepted the positions to which they were elected. Their letters of acceptance were as follows:
"Rev. John Early,
"DEAR SIR: I hereby announce to you, and through you to the Trustees of Randolph-Macon College, that I accept the presidency of that institution, as conferred upon me in July, 1832. I design to resign my professorship in Franklin College as early as I can, consistently with duty and propriety, and hope to be at Randolph-Macon at least as early as the next commencement.
"Yours very respectfully,