Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-06-11
DECISION OF TRUSTEES
Real Estate of the Institution to Be
Used as Basis.
FISCAL AGENTS ARE NAMED
Amount of Securities to Be Floated.
$1o5, ooo-Expected That It Will
Be Taken Up Promptly.

To relieve the financial difficulties of
the university and to preserve the present
organization of the educational depart
ments, the trustees OF the George Wash
ington University yesterday decided to
issue second mortgage bonds for 100000
on the real estate owned by the insttu-
ton.
The issue of bonds will carry out the
plan to fund the present floating debt
and will enable the university to retain
it's buildings as we'll as it's educational
organization.
The certificates will be issued in de-
nominations of s1OO to $500, so that they
may be taken up conveniently by the
friends and alumni of the university.
At the meeting yesterday one of the
trustees subscribed for 5000 of the bonds
and it is expected that the entire amount
will be taken up promptly by the many
persons in the District who desire to do
all they can to encourage the George
Washington University, which is the alma
mater OF so many residents of Washing
ton.
Fiscal Agents Named.
A resolution was passed naming the
American Security and Trust Company,
the National Savings and Trust Company,
the Union Trust Company and the Wash
ing ton Loan and Trust Company the
fiscal agents of the University. authorized
to receive and invest all endowment funds
now in the possession of or which may be
given to the university
The trustees. it is said, contemplate the
enlargement Of the endowment fund and
it is hoped that a fund of $2,OoO,OOo can
To he frIgC
bond issue is only temporary plan, and
it is expected that ultimately the entire
finances of the university will be read
justed.
leave an interest charge of ABOUT $2s,OGO
against the university.
Assurances of Support.
Many business men of Washington have
already declared that they would support
the university in it's plea for financial aid
Gen. George H. Harries. president of the
Washington Board of Trade, expressed the
strong interest Of that body in the work
of the university. Il believe in the uni
versity and believe that it should have
the enthusiastic support of the people Of
the District" said Gen. Harries.
President William F. Guide of the
Chamber of Commerce says that the
question of how best to aid the uni
versity will be considered in the near
future by members Of the Chamber of
Commerce, and that a special commit
tee will be appointed to consult with
the Board of Trade and cooperate with
it on the subject.
Washington should have the finest
and largest educational institution in
the country said Mr.. Guide, land as
Congress has failed to provide such an
institution the people of the District
should be public spirited enough to see
that the George Washington Univer-
sity continues to exist and to grow.
The university deserves the unquali-
fed support of the people and business
interests Of the District
Business Men Promise Aid.
Rober, n. Harper. president of the Dis
trict National Bank, and a member OF
the board of directors of the Chamber
of Commerce, said: II think that every
possible support should be given to the
George Washington University by the
business men and others OF the District
From both business and an educational
standpoint it would never do to let such
time-nonored institution go down.
Arthur c. Moses. secopd vice president
Of the Washington Board of Trade, de-
clared: 'If the university is not sup
ported 1t would mean great loss to the
District from an educational and bust
ness standpoint. Furthermore 1t would
be loss of prestige to the capital. as
we have SO often made the claim that
Washington is an educational CENTER
las an alumnus of Georgetown" said
Joseph /. Weller. Il feel the greatest
sympathy for George Washington Uni
versity, and as member of the board Of
directors of the Chamber of Commerce 1
shall do whatever 1 can to assist the uni
versity'
D. J. Kaufman, member of the board
of directors of the Chamber of Commerce,
said that the appeal Of the George WASH
ington University would probably be con-
sidered at the next meeting Of the cham
Der. next Tuesday.
II am heartily in favor of the business
men Of Washington coming to the aid Of
| the George Washington University" said
Chaplin Brown. 1T is a big task, but the
Board of Trade and the Chamber of Com
merce together can do anything"
LAS a broad proposition said A. p.
Clark, jr., who is member of the board
of directors of the Chamber of Com
mcrce, 1.-The George Washington Univer-
| sity ought to receive the support of the
| business men of the District. from both
q commercial and an educational stand
point"