BREAKING BETTER THAN EVEN

WITH A SURPLUS, even a slight one, to its credit for the year ending June 30, the College has something to cheer about. Mr. Edgerton credits this remarkable showing to increased collections of the Alumni Fund and the 6.8% cut in total College expenses, as against the previous year. Concerning reduced expenditures he states, in prefacing his and the bursar's report to the Trustees, that "by far the greater part of this is represented in the reduction in salaries which became effective with the beginning of the year and which affected practically all of the classifications under which expense is divided." Instructional salaries were reduced of necessity and the wisdom of the move is now apparent. It has been possible to wipe out the 1932-33 deficit of $43,205.50 and to carry forward a balance of $3,023.66.

Although the reduction in faculty salaries was a major factor in establishing the College on a sound financial footing last year, the generous support given to the Fund campaign was hardly less important. The receipt of subscriptions totaling $72,518.73 in cold cash from 5,289 contributors was an achievement that compares well with the very best years that the Fund has ever had, as far as vital aid to the College is concerned. When the Fund practically reached its quota of $130,000 in 1929, the Alumni Council anticipated an even higher total in 1930. This was not to be. Subsequent events killed these hopes for at least several years to come. The amount collected through the Fund from April to June of last spring is about 56% of the 1929 record but its great usefulness is well demonstrated by the fact that it has been instrumental in enabling the College to better than break even in a bad year.

Copies of the financial report will be sent gratis to any alumnus of the College. About 2,000 copies are distributed annually through the present mailing list.