The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-09-24

mate Of the probable income II made From this
| the expenses Of the business management are
first deducted, leaving about 80 per cent. for in
struction and administration There are Ger
tain fixed charges to come out Of the latter sum-
! such as the salaries Of professors the repair and
care Of buildings, fuel lighting and insurance
and the ny mcnt o! scholarships and prizes Tho
remainder is distributed among different depart
mcnts just as n board Of apportionment does in
the case Of city.
During the past year American colleges and
universities have received $50, 600, 900 in benc
factions Of ono kind and another from indvd
ais, While large part Of the business manage
ment Of university liz directed by the board
OF trustees the growth in size and wealth OF the
greatest institutions has made II more and more
necessary that their presidents shall be men Of
business ability az well as OF broad scholarship
II is generally admitted nowadays that the ability
to obtain and successfully administer large sums
for the benefit Of the college is a more important
qualification for the presidency than an intimate
knowledge Of Greek roots or Hebraic history.
While scholarship liz not sacrificed in the cases
of the modern college president, business ability
is also demanded. Iii comes to question between
the two. business ability is likely TO have the
preference
Columbia led the way in this movement by
putting Seth Low at the head Of its affairs. A
generation ago man like Mr.. Low, who had
made his career in business, never would have
been thought of for such a place. Presidents
Schurman OF Cornell. Angel OF Michigan. Harper
OF Chicago. and Jordan of Leland Stanford, were
all college professors before being appointed TO
their present positions But they had all proved
that they were successful administrators, as is
shown by the fact that they have all been called
upon 10 fill important governmental positions
No pintp IT Draa HaIla IN ho Drna
ident OF Yale is understood to be due to the belief
that that university has suffered from lack Of
business enterprise. and needs a clever business
man to direct its affairs. The whole tendency Of
the present time is, without detracting from the
educational work Of the university, TO make il
more and more business undertaking. conducted
on strict business principles and arriving at its
results by business methods.
The actual direction Of a univcrsitys business
affairs is usually in the hands of n treasurer
whose duties are much the same as those of n
bank president He investigates proposed
investments and has the general oversig hit
Of all the financial activities Of the ipstitu-
ton. These activities are directly in
charge Of separate bureaus or departments
One Of these, in the Of the larger universi-
ties employing half a dozen clerks. looks after
the collection of tuition and other fees from STU
dents. Another and larger force of clerks looks
after the renting Of rooms in the college dormi-
tories and, in cases whore commons is main
tained, the supply Of food TO the college dining
rooms. As many as 100 men ore employed in this
branch Of the business Office Of university like
Harvard. Still third department is that which
looks after the universty's investments and
the collection Of its income from these invest
ments. In institutions like Cornell. which are
large owners Of real estate this may be the largest
a,,I ir,y. Il Ill