the building was rented to the Oregon City council[1] for the purpose of housing the public school. The rent for the building and grounds was $150 a year and the money thus received was to be used by the trustees of the seminary for badly needed repairs on the school building. The practice of renting the building was continued until 1867, when the property[2] was sold for school purposes to the Oregon City council for $2,000. The sale included, in addition to the real property, the bell, seats, and other equipment. The money received by the conference from this sale and from the rent due was transferred to the endowment fund of Willamette University. The piano belonging to the seminary was given to Umpqua Academy and the books and apparatus were given to the Portland Academy.
Thus the Methodist educational activities came to an end, just as all of the private and religious schools of early Oregon City were destined to do. The competition of the public school was too great for private enterprises.
The price of $2,000 received from the sale of the Methodist school property at Oregon City, seems amazingly low in comparison with the $10,000 paid for its purchase. The explanation given for this low sale price was that the property was originally purchased by the Missionary Society of the Methodist Episcopal Church for school purposes. As the public school grew it gradually forced the private schools from the picture. This included the Methodist school. In as much as the property was originally purchased for school purposes, and the city council intended to continue using it for educational activities, the trustees of the seminary did not feel that it was property to be speculated upon and consequently sold it for such a low sum. As an additional reason for the low price, the property had depreciated considerably in value since it was purchased by the Methodist conference. The estimated value at various times while the property was in the hands of the Methodists is as follows: 1856, $7,500; 1860, $5,000; and 1866, $3,000.[3]
