The Washington times., 1909-05-20
FUNDS ARE INTACT
DECLARES NEEDHAh
Charges of Sterret Concern
ing Endowment Given
Emphatic Denial.

CHARGES made by Prof. Pames Mac
Bride Sterret, one OF the deposed mem
bers of the faculty, that the endow-
ment funds of the George Washington
University had been diverted to other
channels, were emphatically denied by
President Charles w Needham, speak
ing for the trustees, today.
Every specific endowment fund of the
university, President Needham says, is
intact and has been used only for the
purposes intended by the doners. The
only fund paftaking in any way Of the
nature of an endowment, but which was
I'm reality a gift, which has been az
piled toward enlarSements of the uni
Versity and educational experiments,
according to the president, is the Will
several sales an dtransfers of real
estate donated the university by Mr..
Corcoran.
This orinigaT donation, it is stated,
was not a specific endowment, had no
restrictions to it, and was given the
university by Mr.. Corcoran for the pur-
pase, as the donor expressed it, Of
making a university out Of a college"
Other Charges.
AS to the various charges of mis-
management of the university made by
Prof. Sterrett, President Needham had
nothing TO say today, which is true
also OF the trustees, who were seen,
their attitude that personal charges
and counter-charges were not import
ant and detrimental to the university.
Il have only to say said DR.. Need
ham, that the endowment funds of
this university are intact and in no in
stance have they been applied to put-
poses other than those intended by the
donors. one large gift TO the univer-
sity, namely. the fund derived from
the sale of property given the inStitu-
t,nrfsOf-1m n. neen
used for the enlargement Of the uni
versity. This was not specific en-
dowment.
1T was not so termed by Mr. Cor
coran. The original property was sold
and the Van Ness property was pur-
chased with part of the proceeds, and
this in turn was disposed of and Dor-
ton of the proceeds used IN improve
ments of the university. All of this
was not contrary to the wishes of the
original donor, Mr.. Corcoran, whose let
Ter TO the university conveying the glIe Z
read that II vas for the purpose Of
making university out of college.
"COrcoran Hall"
'The first building to be erected by
erected BY the university when its
financial affairs become better is 10 be
known as 'Corcorsn Hail. which is q
more lasting memorial to the donor than
any specific endowment.
prof. Sterrett's charges that the
financial statements of the university
have not been made public is in error.
They have been published rAETlaTly. and
the last one issued was distributed 10
the extent of about 100000 copies, in
the hope of enlisting financial aid for
the university.
AS to the other criticisms OF the ad-
ministrative policy Of the university
there is nothing that L care to saw as
controversies of this kind are of no ben
efit.'
Prof. Sterrctt who was recently re-
tired by the several changes in the uni
vcrsitys faculty, has vigorously at
tackled Dr.. Neeham's policies in a
lengthy statement, alleging that his o.
pansiOnISt policies are unsound and tha I
his educational experiments are reSpOnS-
ible for the present condition of the uni
versity. He critiCises the changing Of
the name Of Columbian University.