September 18, 1866. Ezra Cornell to Theodore Townsand: "?I then found that the land scrip would only sell for about fifty cents per acre in the large quantity offered, and I further proposed to purchase the scrip of the state, select good lands and locate the scrip thereon and sell the land as opirtunity offered, giving to the "Cornell University" all the profits arising from the sale of land, thus realizing two or three dollars per acre as we hope to do instead of fifty cents per acre by the sale of the scrip. The Legislature accepted this proposition, and passed an act last session authurising the comptroller to sell the scrip to me on such conditions. In my agreement with the comptroller for the purchase of the scrip, I am to give him a mortgage on the land located as colateral security for the performance of my agrrement to pay the profits arising from the sale of the land over to the University, or to assign to the comptroller the Register certificate for the same purpose." Topics: cattle; Land scrip; Cornell University: students, natural history collections; telegraph business correspondence: stocks; Cascadilla Place Personal names: Cornell, D.B.; Townsand, T.; Cornell, J.W. Geography: