The daily morning journal and courier., 1906-09-27
REPORT SHOWS FLOATING DEBT
 IS EXTIN GUTSHED.

several new features, among them a | consolidated statement of bond and | stock holdings, showing both par and market value of all stocks and bonds held by the university. The total par value of bonds is $3,3W ,91.75; the to- tai par value of stocks, $500, ,4S2,32. The market value of these securities is more than $250 900 greater than the figures at which they stand on the treasurer's books
 The consolidated income and expense account show that the income of the university has increased from about S9O2,000 to about $9S0OOO, while the ex- penses have diminished from about S919,O00 to about $91S,O00. By this means the adverse balance of $17,0O0 in the year l904-5 has been converted into an apparent favorable balance of S62, 900. This, however, includes gifts to income, chiefly from the alumni university fund, of $590OO. The principal items in the income of the university are $491, ,970 from term bills, $326814 from invest ments and SS5,597 from dornitory rents. This consolidated account deals .only with the university as a teaching organization, and does not embrace the accounts of the dining hall, the carpen- try department, the steam department and the inflrmary.
 The explanatory matter at the begin- ming of the report is much more full than in previous years. The special point that has been taken up this year is the adjustment of university and de- partmentall deficits accumulated during the past years. The total fioating debt of the university and it's departments, amounting to S456, 6,SO417, has been ex- tinguished by gifts to the university endowment and extension fund, which We're applicable to this purpose if thought advisable. The largest element in the floating debt was the $265, ,206. .08, which was drawn from the university funds for the purchase of grounds and erection of the bicentennial buildings. This leaves the university free from all indebtedness, and its funds entirely unimpaired, except for an advance to land. buildings and permanent equip ment of $294 477.26.
 The total gifts to the university for the year amounts to s1,1O7 ,2O5.7S, but owing to the large amount used to ex- tinguish the floating debt the total &C., tual increase of the permanent endow- ment amounts to $629,7O57S.
 The names of donors to the university endowment and extension fund, started year ago last spring, appear mostly for the first time The names and amounts to date, some of them repre- senting payments on account, are as follows: "A Graduate of 'S1," $35, 900; George s. Brewster $50,000; Robert s. Brewster, $S5,OOO Henry r. Dinook, $25, 900; John F. Dryden, S1O,OOO; Friends" 10000; Edward s. Hardness, $1S7, 900; Jennings family, $100,0OO; John D. Rockefeller, S1 ,0O0,00o; William V. Is. Thorpe $250O0. These gifts repre- sent a total of $1, ,4S750O, of which $477,- GOO have been paid in since the close of the last fiscal year. The total subscrip- lions to the fund amount to little over $2,000,00O, but many of these sub scriptions are not payable until this year or next, so the names of several subscribers do not appear on the above list.
 | The total amount of the funds of the university (exclusive of those held by the board of trustees of the Sheffield Scientific school) is $S,254, ,492.45. Among other items brought out for the first time in the report are the following. The university has invested during the | year about $1,000 000 in New York city real estate mortgag ges, netting 4 1-2 per cent. It is the policy of the treasurer
 to sell off as opportunity is offered at satisfactory prices pieces of New Haven real estate held by the university, but
 not necessary for its development, This policy seems advisable, both so as to
 increase the funds of the university
 and to throw back into the tax list
 of the city property which is never to
 be used by the university. The separa- ton of real estate holdings, both in the university and in the academical de-
 pertinent, instead of Jumping them as heretofore is another new item. The real estate holdings of the university have been divided into productive real l eFSldI5, p0pJi 0Oo.oGI uIIpTUu TeaI bS-
 tate, $305 GOT 43; academical dor1nitories,
 $S11 S1T.S4 The gross receipts from ac- chemical dormitories are also given for
 the first time. these ranging from Van
 derbibt hall with S20,090, to Connecticut hall. with S1791. The accounts of the
 treasurer have been audited this year
 for the first time by firm of profes-
 sional accountants, Messrs Hasldns &,
 Sells, of New York city, whose certifi-
 cate is appended to the report.
 Although the report of the treasurer
 shows that the financial situation at
 the university is better than it has been
 for several years. and although last
 years debtt balance has been changed into credit balance by new gifts and
 greatly increased economies, yet the
 university finds itself hampered on all
 sides from lack of funds, especially fol the increase of salaries to the scale set
 by leading American universities, fol
 the encouragement of research work for the development of the university Ii. lbrary and other vital departments oi
 the university, and for the reimburse,
 ment of the graduates who are f1oldine
 the Hillhouse property for Yale.