STATEMENT 
 
 OF THE 
 
 OF THE 
 
 OF THE 
 
 UNIVERSITY OF CALIFORNIA 
 From Sept. 1st, 1869, to Feb. 1st, 1878. 
 
 ' L I B R A R Y 
 
 I NIVEKSITY OF 
 
 CALIFORN. 
 
To A. S. HALLIDIE, ESQ., 
 
 CHAIRMAN OF FINANCE COMMITTEE, 
 OF THE BOARD or REGENTS OF THE UNIVERSITY OF CALIFORNIA: 
 
 DEAR SIR : 
 
 In compliance with your request for a statement of 
 the expenses of the Administration of the Land Department of the 
 University of California, and the credits properly belonging thereto, 
 as well as the amounts derived from the sale of the grant of 150,000 
 acres, the following is respectfully submitted : 
 
 STATEMENT OF THE CREDITS AND EXPENSES OF THE 
 LAND ADMINISTRATION, 
 
 From September 1st, 1869, to February 1st, 1878. 
 CREDITS. 
 
 By Interest on Certificate of Deposit $15,167.39 
 
 By Interest on Excess Payments 3,372.46 
 
 By Discount on Currency (payment of excess to U. S. 
 
 Receivers) 933.92 
 
 By Fees paid on Applications Certificates of Pur- 
 chase and Patents 8,858.50 
 
 By Fees deposited with the Bank of California and 
 
 in office 1,07250 
 
 Total Credit $29,404.77 
 
 EXPENSES. 
 
 Maps for Locating Agents and Office 105.00 
 
 Fees paid United States Receiver 100.00 
 
 J. C. Hays for locating Lands 1 ,200.00 
 
 Salaries of Land Agents, Deputies and Janitors 20,960.66 
 
 Sundry Office Expenses, Furniture, etc 1,020.67 
 
 Telegraphing and Expressing 122. 50 
 
 Advertising and Printing 173.85 
 
 Expenses of Office removals 182.00 
 
 Postage and Revenue Stamps 259.50 
 
 Stationery 204.50 
 
 Fuel and Lights 112. 70 
 
 Rent of Offices 2,240.00 
 
 Legal Services 626. 25 
 
 Total Expenses $27,307.63 
 
 Excess of Credits over Expenses $2,097. 14 
 
SALES OF AGRICULTURAL COLLEGE LANDS. 
 
 To February 1st, 1878, Certificates of Purchase have been issued 
 for 128,924.20 Acres, on which cash payments have been received, 
 amounting to $328,610.48, leaving a balance of principal unpaid of 
 $316,090.52, bearing interest at the rate of ten per cent, per annum, 
 (on all timbered lands on which a balance of principal is due, bonds 
 are required with two approved sureties.) 
 
 To February 1st, 1878, the University has received from the pro- 
 ceeds of the sale of the Agricultural Grant of 150,000 Acres, over 
 and above all expenses of the Land Department, the following 
 amounts, viz : 
 
 Interest on Bonds $ 35,559.53 
 
 Interest on deferred payments of balance of principal 167,805.12 
 Add Credit Balance over Expenses 2,097. 14 
 
 Total Net Income received from Grant. . $205,461.79 
 
 By reference to the Report of the Committee on Education and 
 Labor, submitted to Congress January 13th, 1875, giving the amount 
 per acre received by thirty-seven Agricultural Colleges, from sales of 
 these Agricultural Grants, it will be found that the average price 
 per acre exceeded only a fraction over ONE DOLLAR per acre, in CUR- 
 RENCY, whereas the Grant made to the State of California has thus far 
 been sold for a fraction more than $5 per acre, GOLD, and interest 
 received therefrom amounting to $203,364.65. Bonds have been pur- 
 chased of the par value of $325,000.00 at a cost of $317,122.50. 
 There is now deposited with the Treasurer $11,487.98 awaiting in- 
 vestment in bonds. 
 
 Yery Respectfully, 
 
 J. HAM HARRIS, 
 
 Land Agent of the Uniuersity of California. 
 
 SAN FRANCISCO, FEBRUARY 15th, 1878. 
 
SUPPLEMENTAL REPORT 
 
 IN RELATION TO T1IK 
 
 ANTS OF 10 SECTIONS FOR PUBLIC HI IIJIM1S 
 
 72 Sections for a Seminary of Learning, 
 ^ ^K 
 
 WmsiTyl 
 
 ),000 ACRES FOR INTERNAL IMPROVEMENTS. 
 
 SACRAMENTO: 
 
 .STATK OFFK'K : : : v. p. THOMPSON, SUJ'T. STATK PKINTINC!. 
 
 1879.