THE TREASURER'S REPORT

The report of the Treasurer of Dartmouth College, for the year ending July 1, 1914, was approved by the Trustees in September and was published in October.

The report is a document of sixty pages which presents an exhaustive statement of the College assets and liabilities, not only through the medium of a general balance sheet, but through that of a series of tables showing investment items, schedules of income and expenditure so arranged as to give a clear insight into all the business operations of the institution.

One of the salient features of the report is the item of notes payable which amounts to $252,500 and constitutes the debt burden of which Mr. Parkhurst wrote recently in THE MAGAZINE.

' Income for the year 1913-14 was in round numbers $374,000, and expense $379,000, making a deficit for the year of $5,000. This compares with an income, the previous year, of $345,000, and an expense which necessitated a deficit of $27,000 for the year.

The difference in the figures for the two years lies primarily in the increased income—about $20,000—derived from additional tuition charge in the past year, and increase of about $10,000 from investments.

Expenses likewise were reduced. While the cost of administration increased some $2,000, and the cost of instruction some $10,000, maintenance of buildings and grounds was cut $5,000, and general expenses $1,000. The dining association, which had borne a deficit in 1912-13, of nearly $5,000, escaped with a deficit of less than $300.

A growing college can never hope to avoid expenses beyond its income. Its alumni and friends, however, have a right to know that it is exerting every effort to handle its affairs in an economical and business-like way. That Dartmouth is making such an effort becomes fairly obvious to him who studies the report arranged and prepared by the College Auditor, Mr. Edgerton, and presented by the Treasurer, Mr. C. P. Chase.