| After
offering the presidency of the college unsuccessfully to two men, the board of trustees
elected Rev. E. P. Palmer as president and financial agent in January, 1882 (disregarding
the advice of Dr. Boude). By June of 1884, Palmer had tendered his resignation, which the
board refused, though they did relieve him of the duty of financial agent. The
trustees’ chief concern was "meeting the present liabilities for salaries."
At no time since coming to Sherman had they been able to meet operating expenses.
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