1951

A few weeks ago, I received a notice from the Editor that class secretaries should limit the length of their copy this month because this issue would include an extra long feature on the Dartmouth College Case. I could just as well have been excluded from that mailing since I have only two pieces of news this time.

Those classmates who have moved since the last time their names appeared in this column have by now received a letter from me asking what the story is. If you haven't already replied, please do so promptly. To the news:

"Beverage Retailer" saved me from writing to Joe Morelli. Browne-Vintners Co. recently named him Eastern Division manager. The company markets such well known joy water as White Horse scotch, Mumm champagne, Noilly Prat Vermouth, Boodles British gin, and cognac.

Joe joined Browne-Vintners in 1962 as Massachusetts state manager. Last spring he was appointed Southern Division wine manager. Joe has been in the industry since 1953, initially as a sales representative for an importer and, later, a distiller. He and wife Thelma have three daughters.

Al Katz, general manager of Goodall Rubber's branch offices, has been named assistant vice president. Al joined the company's management training program in 1955 and was in Kansas City before returning to the home office in Trenton not too long ago.

By now, all of you have received the first mailing of this year's Alumni Fund campaign. By now, many of you have also been - and, by year-end, all of you should have been - solicited for the College's Third Century Fund with its $51,000,000 goal. Under the circumstances, I think that it is appropriate for me to repeat some things I wrote in this column a year ago.

Some of you may be wondering just how the two drives fit together, particularly if you recall that the Alumni Fund was for all practical purposes suspended during the College's capital gifts campaign in the late '50's. The College learned its lesson last time; the two campaigns do fit together.

Let me analogize the situation to that of your local church or synagogue. Each week you put so much into the collection plate to pay the preacher's salary, to pay for heat and light, etc. If the weekly collections are stopped, the institution very rapidly finds itself grinding to a halt.

Every year the Alumni Fund provides about one-eighth of Dartmouth's operating budget. Suddenly to eliminate over $2,000,000 in receipts would have an obvious and immediate impact on faculty compensation, scholarships, the operations of the library and Hopkins Center, and so on. Therefore the Alumni Fund must not slip below past performance if Dartmouth is not to fall hopelessly behind where it now is.

Let's return to my analogy to your local house of worship. The old sanctuary is about to collapse; either expensive drastic repairs or a new building is in order. The congregation and the church program have grown; more building is required to accommodate them. If you can raise the capital to pay for at least a large part of it now, it's much cheaper in the long run than carrying a heavy mortgage.

That's what Dartmouth's Third Century Fund is about, with one very major difference. As all of you should be aware by now, comparatively little is sought for buildings. Most of the funds are intended for endowment for faculty salaries, scholarships, and library operations.

Not only is it cheaper in the long run to pay for the rapidly increasing costs of operating a private educational institution through increased endowment, but also I know of no lending institution which will lend the money to endow faculty chairs or student scholarships to be repaid, with interest, out of future annual giving.

What does all of this mean to you? The Alumni Fund comes first. During the Third Century Fund, Dartmouth will each year need at least as much as was raised prior to the Third Century Fund in order to maintain its operating budget.

The Third Century Fund concerns what, if anything, you can afford to do over and above your annual Alumni Fund contribution. For some of you, that will be nothing because you subsist only on earned income, may be undercompensated, may have a large family, or may be faced with unusual medical or other personal and family expenses.

For many, if not most of you, the answer should be different. Many have investments, a portion of which you might be willing to have work for Dartmouth from here on. (Some of those can result in a very healthy tax deduction compared to your investment cost.) Many of you are now also earning enough to be in a position to be investing and could make an investment for the College instead of for yourself for a few years.

Obviously, the Third Century Fund, just like the Alumni Fund, involves a value judgment on your part. You contribute because you understand the financial crisis facing higher education and you either believe deeply in its value, wear green underwear, or both.

The question boils down to one of the depth of your commitment to continuing a viable system of high quality private education in this country and to Dartmouth as a place where it should be continued.

Secretary, 2107 Fidelity Bldg. Philadelphia, Penna. 19109

Class Agent, McCall Corp., 230 Park Ave. New York, N. Y. 10017