Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-04-23

When DR.. Needham had completed his
statement OF the general condition Of the
finances Of the George Washington Uni
versity he was asked some questions by
the committee members with reference
to the transactions affecting the house to
which he holds title and upon which the
university has a $4,000 mortgage. DR..
Needham explained this matter in full.
"A full statement Of the transaction re-
garding the house In N street." he said,
was filed with the Senate committee on
agriculture, and is to be found in the
printed record Of the hearing before that
committee. The house was purchased by
the university for $1,000 and charges and
repairs made to the extent Of $4,000.
erty of $500. The university paid and ex-
pended $4,000 in money. The president
occupied the house. paying the full
amount Of interest the funds were draw
ing and the taxes as rent ,,I,v When n nns
being in funds, the president personally
paid Off the mortgage Of $500, making
the total cost $21, 500.
Desiring that the university should
have the first proceeds of any sale of
the property-after the university had
held the title for a year-the title was
changed, giving the university trust
deed for $4,000. leaving the equity In
the president to secure the money
which he had personally advanced. The
full interest and the taxes have been
paid by the president for the use OF the
house. If there should be any profit
over and above the cost it will belong
to the university: If there is loss it
will come out Of the presidents equity.
Ex-Trustee Porter Witness.
The last witness heard by the committee
was Henry X. Porter, formerly MEM
Der of Congress from Pennsylvania and
now a resident Of Washington, his home
being at 1900 I street. Mr.. Porter was
formerly a member Of the board Of trus-
tees Of the university. He became men,
Der of the board in 1903, he said, at the
earnest solicitation of number of his
the committee. that the university was in
financial distress. He did not consider
this unusual with educational institutions.
Mr. Wiley asked Mr. Porter if he had
not made a conditional subscription to
the university.
Yes said Mr.. Porter. I'm 1906 l
made a conditional subscription to take
care Of deficits. 1t was desired to raise
100000 during a period of five years for
the purpose Of avoiding deficits. I agreed
$4,000 be raised in that year by SUBJ
scription to run over period of five
years
Il was never able to get satisfactory
the money raised, in order that I might
satisfy myself as to whether was bound
to make my contributions, and that fact
had great deal to do with my with
drawal from the board Of trustees. I was
disappointed at the lack of interest taken.
and l was not pleased when 1 could not
get definite statement of the finances
based on the conditions laid down in my
agreement. Since that time secured my
release from the agreement by voluntary
action by the board
No More Hearings.
Chairman Smith, when Mr. Porter had
completed his statement, announced that
the committee was willing to hold fur
Their hearings, but President Needham
said that the university had no additional
facts to offer. So there will be no fur
Their hearing on the Wiley resolution. 1t
is probable that action on the resolution
will be taken at the next regular weekly
meeting of the committee next Wednes-
day.
The trustees Of George Washington
University are as follows: DR.. Charles W
Needham, Rev. Samuel H. Greene, S. w
Woodward DR.. Edward NJ Gallaudet,
William F. Mattingly. Eugene Levering.
John Joy Edison, Justice Thomas III. An
derson, John B. Larner, Hennen Jen-
nings, Henry B. F. Mcfarland, Theodore
w. Noyes, Henry c. Perkins, Dr.. Lewis
FIemer, Abram Lisner Alpheus H. Snow,
Admiral Charles H. Stockton, u. 8. n.
(retired); Admiral P NJ. Rixey, L. S. n.
(retired), and William D. Hoover