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At this meeting of the Council of Hope College, Dr. Albertus C. Van Raate was again elected president of the council. Rev. Abel T. Stewart was again elected secretary also. The minutes are not clear that Van Raalte was in the chair but it was likely that he was. Examinations of students were held. Pres. Philip Phelps Jr. was in attendance. It was resolved that a financial agent be appointed in order to raise "not less than $100,000 for instruction in the Academic Dept." Persons on the real estate committee reported progress. From all the actions taken at these sessions of the council over several days, one gets the impression that the college must operate on a better business basis.
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Stewart, Abel T. and Otterness, Mary, "Minutes of the Council of Hope College" (1875). Van Raalte Papers: 1870-1879. 228.