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The major purpose of the meeting of the Council of Hope College were the examinations of students. Dr. Albertus C. Van Raalte was in the chair. On the 30th, a major discussion at the meeting was the report of the Board of Education of the Reformed Church in America about the board's understanding as to the actual financial situation at the college. The report noted that the assets of the college were "very much overestimated." "Suitable practical business men" were to be appointed for the disposal of real estate. The treasurer, in his letter to the council, said he was not able to report without the aid of Pres. Phelps. However, the president was ill and could not attend this meeting unfortunately. [Could Phelps be ill due to the mounting financial problems at the college?]
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Stewart, Abel T. and Otterness, Mary, "Meeting Minutes of the Council of Hope College" (1875). Van Raalte Papers: 1870-1879. 224.