Zina P. King's Shortage

For several weeks past it haa been surmised that something was wrong in the financial affairs of the University Alumni Association, and this has been proven true during the past week by statements from the offioers of the association that the affairs of' ina P. King, the retiring treasurer, were ie a badly mixed-up condition and the directora could not teil just how he stood with the association until a thorough investigation of tha books and vouchers had been made. When Mr. King carne to turn over his office to the treasurer elect, it was found that he had but litile cash on hand. Mr. King immediately turned over every dollar's worth of property that he owned to the director, to secure the asscciation from loss. Two housea were taken at $7,300, over and above a $2,500 mortgage ; mortgagea for about $1,500 and other property raisitig the total amDunt to over f 9,000 was placed in the directors' hands. Mr. King theo gave his note for $10,400 to cover any shortage, if there should prove to be one. The books have been loosely kept and the peculiar feature of the case is that the errors are against Mr. King and in favor of the association. He has charged himself with interest and then compounded it for the past six years. He has also failed to charge up attorney's fees paid for making collections. Mr. King should justly be paid a salary for the work done during the past ten years. When these allowances are made, it is doubiful if there will be any shortege ; and iL at alt, it will be far below the sums reported, $10,000 to $18,000. Mr. King has always been respeoted here and has served the city geveral times in a public capacity. He has always worked honestly for the city's interest and tie affairs in the case of the alumni association are a surprise to our citizens. It was through Mr. King's hard work, while city attorney a number of years ago, that this city was saved from being in the same condition that Ypsilanti was placed - having $150,000 worth of bonds for a railroad issued and which the city would have been obliged to pay, had not Mr. King succeeded in getting them back from the secretary of state. There is no doubt but that Mr. Kine; was squeezed in a stock deal in 1882-'83, and that he lost not only his own property, but other available funda, makiog sure, however, to sav9 enough pr jperty of his own to be able to realize enough to meet the amount of association's fundsused. The association is as much to blame as anyone else in this matter, ag years there were several years that no meeting of the directors was held, although Mr. King endeavored to get them together a number of times.