Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-22
HARVARD NEEDS MONEY
President Eliot Desires to In
crease the Endowment.
DEFICITS ARE ANNUAL
SALARIES OF THE PROFESSORS
SHOULD BE ADVANCED.
Character Rather Than the Students
Purse Wins Popularity-Treat-
ment of the Colored Man.
RY WILLIAM E CURTIS.

Special Correspondence of The Star and the Chicago
Record Herald.
CHICAGO, May q, 1905.
President Eliot of Harvard wants to add
s.. SEQ 600 to the endowment of that uni
versity in order to increase the salaries OF
the professors and instructors and to meet
other expenses. The highest salary now
paid by the corporation is $500 year to
a professor in the law school, The high
est in the literary and other departments
is $1,000 A full professor receives $500
at the beginning of his term of office and
his pay is increased according to circum-
stances. An assistant professor receives
81, eco for the first five years of service and
So, 900 for the second five years before pro-
motion to full professorship. Instructors
who give their entire time to their work
are paid 81 500 a year, but many of them
give only a part of their time, and their
compensate ton is graded accordingly, from
S1GO a year upward. 1 was told at Cam
bridge that while higher salaries were paid
to several eminent individuals in other in
situations, the average received by the rae
ulty of Harvard probably exceeds that
paid in any other institution, and the sys-
tenn of allowances to retired professors is
very generous. 1t secures that peace of
mind which, as everybody Knows Is es-
sential to good service.
Wealth Of Harvard University.
Harvard is very rich. Its wealth Is ex-
ceeded by only one. or perhaps two. educa-
tional institutions In the world. 1t Is not
only the oldest university, but the Oldest
corporation in America. 1t was fncorpo-
rated In 1896, sixteen years after the land
ing of the Pilgrims and for more than half
q century it was the only corporation in
IL =, hon, a
Corporation was mentioned anywhere IN
the colonies it understood that Har-
ward College was referred to.
1.-The Corporation" which holds the title
to all of the property and perpetuates ltsei1
by filling vacancies in its own number con-
sists of the president and the treasurer Oh
the university, and five fellows. The total
investments now in their hands for the
benefit of the institution amount TO Slo'-
100 753. TO- an increase of 1892, 231. 4S over
1903. The aggregate income of the institu-
ton in 1904 was $972, 731.5S, of which $3I3,
450 was from dividends on investments and
$500, 2S0.92 fees from students TO show the
growth of the university it may De said
that in 1882 the total income was only 49,
1858 and in 1872 it was only $221,292. 40
The increase during the last thirty years
has been over 400 per cent notwithstand-
ing the fact that the rates of interest paid
by the stock and bond investments have di-
minished one-half.
This seventeen millions does not include
what may be termed the educa tional plant
the dormitories, laboratories. museums
libraries and other buildings upon the
campus at Cambridge, nor their equipment
which produce no revenue, but could not be
replaced for ten or twelve millions of dol
lars. Much of the contents of the libraries,
museums laboratories and other buildings
could not be replaced at any price, but at
fair estimate the entire property of the
university is worth at least 100000.
In 1899 the fees paid by students for in
struction amounted to s22,645.6o; in 1872
they amounted to 800, 7O5, while in 1904
they were $503. $40 and the room rents from
the dormitories amounted to $75, 922 more.