Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-06-10
AID ASKED BY G. v. i.
$4,000 Needed This Year to
Maintain Institution.
CONDITIONS MADE PUBLIC
Board of Trustees Makes Statement
and Appeal.
ASSETS ENOUGH TO PAY DEBTS
Authorities Would Continue on
Present Basis, if. Possible-Econ-
omy in Future.
ASSETS ENOUGH TO PAY DEBTS

Ony In Future.
i Publicity. economy and the creation of
an educational organization according to |
the actual resources of the university is |
the policy Of the board of trustees of
George Washington University.
/ This policy was outlined in a statement |
made public at the adjournment of a |
meeting of the trustees last evening, and |
will be further developed at another meet |
| ing. to be held late this afternoon. An |
appeal has been made to the public of
the District of Columbia.
Complete publicity is to be one of lie
policies of the present board. The trus-
tees have adopted the principle that, as
the university is public institution, the
public has a right to a complete knowl-
edge of the exact condition of the insti
tuition, both financial and otherwise.
Regime of Economy Proposed.
Economy is to be practiced much as
possible. Every effort will be made by
the trustees to retain the present educa-
| tiona organization of the institution
which has been of gradual growth, in
conformity with the peculiar needs of the
District in respect to higher education.
On the other hand the trustees are de-
| termined to establish a business relation
ship between the financial administration
and the educational organization. In the
future the George Washington University,
in endeavoring. to meet the needs of the
| District, will not be permitted to develop
| its educational organization faster than
| its financial resources.
Dean McBain Optimistic.
"Ths university will undoubtedly be
running next year, said DR. Howard
Lee McBain, dean of the department of
political science and assistant to the act
ing president of the university, to re-
porter for The Star today But it's ex-
act educational organization will depend
upon the amount of money that can be
| raised"
| The trustees have appealed to the pub
lie of the District, through the Wash
| ington Board of Trade and Chamber of
| Commerce, to aid in raising $4,000, the |
amount the trustees estimate will be nee
| essary- to continue the work of the uni |
versity on its present basis during next
year.
Funding the floating debt of about $780,
600 is proposed as the only means of
evading, even temporarily. the necessity |
| to sell the buildings OF the university. |
The trustees will exert efforts to raise an |
| endowment fund of S2,GOOOO.
Statement of Trustees.
The statement of the trustees of the |
George Washington University follows:
| ITO the Chamber of Commerce and the |
Board of Trade of Washington:
| The board of trustees of the George |
Washington University respectfully rep |
resent:
| That they have had a careful exam
ination made concerning the educational |
| organization of the university, with the |
result that they of opinion that the
present educational organization ought
to be retained. 1t has been gradually |
evolved to meet the needs of the District,
and substantially meets these needs.
| They are of opinion that while some
economies can be made in the admins
| trative and educational work of the uni
versity on its present basis, the amount
| saved would be more than taken up if
the educational organization on its pres
ent basis were made thoroughly efficient.
Funds Inadequate to Maintain.
They further represent that they are
without funds to maintain the university
on it's present basis.
| THE total assets of the univer-
sity, exclusive of about 100000 of securi-
| ties and real estate, now held in trust
as endowment funds, consist of the real
| estate at the corner of 18th and II
streets, occupied by the main university
| DuliO1nS, ana the law SCnOOI Dullu1nS,
| containing 1920 square feet, and valued
at about S6OO,0OO; the real estate in FL
street between 18th and 18th streets,
occupied by the medical school and hos
pita containing $50 feet, and valued
at about 100000, and the furniture,
| equipment and fixtures. All this last
mentioned real estate is subject to a
deed of trust to secure an Indebtedness
| of S4JO,000.
| Besides this debt the university now
| owes about S11 ,OCO, and August 81, 1916,
| the end of the fiscal year, will owe,
| the result of liabilities already assumed,
about S34. 600 additional, which will make
| the floating debt on that date about $780,
| coo The total Indebtedness of the uni
versity August 81, 1910, will, therefore, be
| at least $j5o,OOO.
Assets Exceed Debts.
| 'If the main building, at the corner of
/ 18th and II streets. and the adjoining law
| school We're sold, enough could probably
be realized to pay the debts, leaving a
small balance. The amount needed to re-
store the amounts borrowed from the en-
dowment funds for current expenses, in
1