The Providence news. (Providence [R.I.]) 1891-1906, 1902-09-03
Interesting Report by President
Faunce to Fellows and Trustees
at Annual Meeting Today

called the Endowment Fund Of isoO'-has
been paid in. with the exception OF GER
tain subscriptions still delayed by COM
plications that often attend the execution
or Wills or the transfer of real estate. This
million was entirely In the form OF en-
dowment funds, no real estate being In
cluded. part OF IT, however was I'm
funds designated for special purposes.
and not available for general expenses.
our second million dollars-commonly
called the Endowment Fund OF i901'-was
composed OF the $500, 900 which is yet TO be
received for the endowment OF the John
Carter Brown library, the $4,000 avail
able for the library building. the $3.50 600
offered by Mr.. Rockefeller, and $780, 900
more In either money or real estate given
10 US by many generous friends. OF this
second million, nearly 100000 has now
been paid into our treasury, but as vet
hardly begun to produce an income. The
ehdowment OF the library may not be
PAID over 10 us until the new library
building is completed. Consequently we
are deriving as yet small benefit from our
second million dollars, and IL may be- two
years before the entire Income wifi be
available Va" 's
The most remarkable addition 10 the
university FUNDS during the year, and
the largest single gift in our history is
the great bequest OF Mr.. George L. Lit
tieneld or Pawtucket. For the last 10
years Mr.. Littleheld has taken a con-
stantly increasing interest I'm Brown lint
yersity. He was warm friend OF Presi
ueht Andrews. and on at least one ooca-
sion gave him substantial Assistance
when we were securing our endowment
fund OF 1900 Mr.. Littlefield was one OF the
most cordial well-wishers. and his sub
scription OF $4,000 inspired many business
men TO come TO our aid
PROPOSED NEW BUILDINGS.
zone OF the greatest advances OF the
year has been the realization of our
hopes for new building for the social
ana religious life OF the students. n
building which shall be the centre OF
student activities and the hearthstone OF
the university. In my last annual report
| presented the necessity OF such a build
ing, to cost not less than $50 900. and urg-
ed that we should make some appeal for
IL. Before the report left the hands OF
the printer We received through Mr.. John
ID. Rockefeller, Jr.. OF the class of '97. an
oner from his father OF building TO
cost not less than $1,000 provided the
corporation would furnish a suitable site
and the friends OF the university would
furnish an endowment of $4,000 for It's
maintenance.
The letter containing this generous Of
Ter was read AT mass meeting OF stu
dents and received with enthusi-
asm. The student already had
fund OF 1890. given for this
purpose by men in college I'm
the year 1892. In few weeks they
raised 1880 more among themselves. an
achievement unprec edentod I'm our his
tory. and the remainder has been sub
scribed by our alumni and friends The
cornerstone Will soon be laid and before
another commencement we hope 10 see on
our campus a true centre for all the
varied interests of our students The value
OF such building. II wisely and generous
ly managed. Is fully az great as that of
any structure We now possess.
Another building whose location has
Carter Brown Library building spoke
In my last report OF this library. or its
unsurpassed resources. its munfcent en-
dowment. and the unique possibilities n
Will offer % our advanccd students I'm
American history. Every month that has
elapsed since this great gift was made
has shown more clearly the magnitude OF
our responsibility and opportunity The
corporation have entered into a detailed
agreement with the trustees or the H.
brary. by which the library will be for
ever preserved a. n family memorial and
will at the same time be fully available
90 all qualified students.
OTHERSGENERoUs GIFTS
II have the pleasure of announcing n
unique and valuable gift TO the univer-