The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1899-10-24

pSciaily well managed; About $aNp 40 o.
her holdings came from gifts The re.
nsa1nier was derive; from the pxuh,s Of
the land granted TO her under the terms
Of tie Morrill, act The policy Of Ce-neirs
managers has been 10 inSes; asr funds IN
municipal bonds aud Western farm uaars-
CAGES One Of the eurissssttes 90 eaigsSe
anancier;ng Is the fact that the good times
o. the past NO years have injured thu ani-
vsrsity. The farmers Of Kansas and ether
Western states have paid their ) per cent
mortgages. instead OF renewing them an.
the university was competed TO reinvest
a. a much lower rate OF interest Many az
the colleges own city real estate having
received gifts In that form. bat the ma or-
ity OF college enaowmenss are N bonds OF
one sort or another. The largest real es-
tate owner Of all thu colleges is the Cns-
vsrsity OF Texas. which holds title 10 mere
than 2,e"s,lsa acres of Land. and should
some day be enc Of The riches, institutions
II the country.
The actual mana cement Of a universities
business affairs IS conducted much like
THAI OF a town or city. AT the beginning
OF the year an estimate OF thu probable in
come is made. From. this the excuses Of
the business management are tirsI deduct
81, leaving about NJ ver cent for iYstruc-
ton and administration. There are certain
fixed charges 10 come out OK the latter
sum. such as the salaries of professors,
the repair and care Of buildings, fuel. light
ing and insurance. and the payment %
scholarships ami prizes. The remainder Is
distributed among different departments.
jus; as board or apportionment does liz
the case OF city.
During the past year American colleges
and universities have received $2a 0.t5 so I'm
benefactions Of one kind and another from
individuals. While a large part OF the
business management of a university is d.
reeied by the board Of trustees. the growth
In size and wealth of the greatest insti-
tu;ions has made II more and more nee
essary that their presidents shah be men
OF business ability as we'll as broad schol-
arship. IL is generally admitted nowadays
that the ability to obtain and successfully
administer large sums for the benefit Of
the college l. more important Qualitica-
ton fer the presidency than an intimate
knowledge Of Greek roots or Hebgaic his
tory While scholarship Is no, sacrificed
In the cases Of the modern college presi-
dent. business ability is also demanded.
II il comes TO a question between the two.
business ability is likely TO have the pref
erence.
Columbia led the way In this movement
by putting Seth Low at the head Or its
affairs. generation ago man like Mr.
Low who had made his career in bust
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. Blu: they had
all proved that they We're successful aG-
miniStrators. as Is shown by the fact that
they have all been called upon 10 fill i'm
portant governmental positions The APP
ru3i f1 ha Ysl
ident OF Yale Il understood 10 he due TO
the belief that that university has suffer
cd from a lack CT business enterprise. and
needs a clever business man To direct its
affairs. The whole tendency Of the pres
ent time is, without detracting from the
educational work Of the university, to
make IL more and more business under
taking conducted on strict business prfn-
eiples and arriving at Its results by bust
ness methods.
The actual direction of a university 8
business affairs Il usually In the hands
OF treasurer. whose duties are much the
same as those Of bank president. He In
vestigates proposed investments and has
the general oversight OF all the financial
activities Of the institution. These acttvi-
ties are directly In charge OF separate
bureaus or departments. One of these, In
the case of the larger universities employ
collection of tuition and other fees from
students Another and larger force o.
| clerks looks after the renting Of rooms In
the college 1ormitorfes. and. In cases where
a commons Is maintained the supply 81
| food 10 the college dining rooms Az many
as 100 men are employed in this branch nj
! the business office OF university uks
| Harvard. Still third department IL that
| which looks after the un!vers!ty's invest
| ments and the collection of its income
| from these investments. In institutions
| like Cornell. which are large owners o!
| real estate. this may be the largest and
| most important department OF all Cornell
| for example has a force OF farm loan In
| spectors. wooIsnen ana mapmakers. and
| maintains land office at Eau Claire. Wis.
/ to look after the Western properties
The modern university therefore. IN al.
/ diiion To giving instruction. carries on In
some instances the businesses of a bank
a real estate and investment office. a hote
and collecting agency. In these mutt.
| form opere tons q great university may
| employ hundreds of men.--New York Sun
/