The Appeal. [volume] (Saint Paul, Minn. ;) 1889-19??, 1901-11-02
"a The ROCk
OF GIBRALTAR 4
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improving the plant, $2S,00S25.
At the time of my last report the
Endowment Fund amounted to S15S.-
1 232.49. Since that time this fund has
been increased =, $252,971.O2. The
whole OF this fund is invested in safe
/ and conservative securities by our En-
] s.doWment Fund Committee in New
York. This committee consists of Mr..
William Il. Baldwin, Jr 1913 Broad
! way, n New York; Mr. J. G. Phelps
1 stokes, AZ Cedar street, New York. y
The average interest now being re-
i celVed upon our Endowment is about
AZ per cent
IL The, total amount received from all
i sources, for all purposes, s312, 5290s.
/ 1t now costs annually to operate the
q institution in all its departments not
i far from 100000
4 10 meet this annual expense We are
i now assured of the following amounts:
L s., 500 from the state of Alabama.
! 81, bot. from the Peabody Fund.
4 $500 "A. U. "A, Boston.
i $4,000 from students entrance fees.
j $4,000 from the John f. Slater Fund.
$40 from the Woman's Home Mis-
sion Association, Of Boston, as we'll as
several other smaller amounts.
@A0uSo w t41CoC is Tie interest or our
Endowment Fund, which is about SILL
900, thus making total of s32, 07O that.
/ we can depend upon with reasonable.
certainty. leaving approximately s6s-
600 to be raised each year in order to,
meet the current expenses of the :
school This money is secured mainly
IN the form of small gifts from indi-
i Vlduals, Sunday schools and churches
4 and other organizations in all parts of.
the country -
me amount named as needed fo,.
current expenses leaves out of account.
the money needed for buildings, ma.
] chinery and other improvements OF the
! plant
/ FWo-ffths Of the total amount re-
ceived during the past two years has
gone into the permanent plant and En-
zlsdoWnent Fund
4 W. nave a right, | think, to point.
with pride to the small average cost of j
! educating our students. The total
1 number of students reached being
/ l5l4, and the total current expenses
charged being abort $4,000 brings
the whole cost for each individual to.
/ $73. 49,
The greater proportion of what the
students pay is in the form OF labor.
| II labor this year, SCI ,29I Is.
| Every effort is constantly being
made to reduce the expenses Of the in
/ stItutlon, and To exercise the str;ctest.
| economy in every department
AT this point I cannot refrain from
/ mentioning or Indebtedness to six
| IflendsN whose quiet, unrestricted gem
crosby has lifted this year a great
burden from our shoulders and placed
the institution in the position where
1t can accomplish much more good
than has ever been true in its history.
am sorry that I cannot have the
1 pleasure of giving their names. b,,t
| this they forbid. 1t is rare and beau
tiful privilege for us to have this touch
with those souls who hide themselves
4 behind their deeds of generosity.
Among our most pressing needs at
present are the following:
An Endowment Fund of at least
| 5000 600 towards which s25OOOO has
/ been securedj
Scholarships of $50 a year to pay for
the tuition of one student 1920 en-
apies student to complete the four
years course. 81, 900 creates a perma-
| nent. scholarship, the interest from
/ which pays for the education of a SIN
dent for all time) Money in any
amounts to meet current expenses.
even 81 helps u.s.
1000 for Girls Dornlitory.
S2O,G GOO for Boys Dormitory
SI2,OO0 for an Administration Build
/ ing.
81 200 each for two Teachers Cot
/ tages. ss;
$5VO each for six Teachers Cottages.
S3O, goo for central heating system.
$40, 900 for a drainage system.
$4,000 for completion OF. Boys-
Trades Building.
$1,000 for Comn1issary Building.
! $40. 900 for better equipment Of IN
dustries Be-
SO, 900 for an addition to Alabama
i Hall. e - s
4 MISCELLANEOUS s.
Since my last report we have lost by
death Mr.. Henry G. Davis, of Pi1iladei-
II phla, one of our trustees and mosf
Il helpful friends. Mr. Coils p HINT
Il lngton OF New Y orh, has also passed
Il away. Mr.. Hnntington ,s Interest be-
gan with the early history of the IN
stitntion, and continued to increase iii
q the day Of his death. IN him the
school has lost one of its strongest
friends. 81 49, s.
Perhaps the most important event
sGonttnued ON Foartn PaRe.l