Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-06-07
ship fund, not available for payment of

ship fund, not available for payment of
liabilities:
Amount due from general fund (pro-
ceeds of sale of lots. See statement Of
liabilities of general fund.-, s63osc.93;
real estate-lot g. square IL assessed
value), s2.o6o: lot 10. square Is, x2..lS: lot
IL. square Is, S4.5SS; lot IL square Is,
S38,4; lot 9. square Is. S2,224; lot :.
square -, S3.0N5: lot >. square west of
-, SlW9. lot i. square So, $500, lot >.
square 81. sl,S96: lot .. square SIS. si92;
total. s25,621: grand total, Ss9,4939;:.
No valuation is extended on the above
real estate for the reason that We DO not
feel that We are qualified to set valua-
ton on the same. For the purpose OF
showing. in a brief summary. the pro.
portion of receipts to expenditures for the
&;t ten years, thereby showing the
deficit in current running expenses, the
Following schedule is given:
Present Indebtedness.
The present indebtedness Of the uni
versity, SO far as ascertained, is as fol-
lows:
shortage on university and law
held by Fidelity Trust Company Of
philadelphia, $450,00c: Indebtedness to
banks for borrowed money, SOL 800: I'M
paid bills for February. March. April.
S9.395.41; salaries to April -, 1910.
~ aSl ans accrued interest on mort
2!9.2l; taxes for 1910, s404.57-s542,-
1904. From this deduct total indebt-
euness as shown by treasurer's report,
December 81. 1899. s1S4.65c.50. In
crease in Indebtedness since December
81. 1899, s377.657.94. To which should
be added amounts transferred from
Corcoran endowment and trust funds
since December 81, 1899, S202.014.85.
Amount received from sale of govern
ment lots since December 81. 1899, S.
oS3.O3: amount transferred from alum
nj hall fund. 100000; amount received
from sale of Cutler house (222 Sd
street,, $4,000; amount received from
Denman estate (bequest for law
school. sS,17932-$614, SSH. From
this should be deducted the cost Of
new medical school and addition to
hospital, $156, $50. 66-s4,,>, SOC. 4s.
Disposition of Balance.
The balance. amounting to Sass, 3O2. As,
has been absorbed by the excess of ex-
penditures over ordinary current receipts
Part OF this is represented by additional
equipment. but the larger portion Of 1t
was used for ordinary running expenses
L
various funds and the purchase Of in
Nestments with funds belonging not only
70 the Corcoran endowment and other
trust funds, but to the fund known as
the building site and enlargement fund,
1t has been found necessary to treat ali
receipts and expenditures Of these funds
together In one statement rather than
attempt to show the proportionate
ownership in different securities -
The assets Of the Corcoran endowment
md nth
treasurer's report, December II, 1892
were as follows:
Corcoran endowment fund-Mortgage
note, A. NJ. McLachlen. 5000; mortgage
note, Power & Peterson, $4,000: mort
gage note. J. II. Lane 81 400. Real es-
tate-Old law building site, $4,000; Co
lumbar building construction, so, LOG. 80;
unimproved lots, $4,000; 9G, NJ street,
S1,91O.j7: 1913 S street $9,11S.S3; Burgdorf
lots, S13.354.65: less sold Mrs. Lehman,
s227, $3.50; less discounts of National
Metropolitan Bank. SAG. 661 30 $751;, $3.50.
Mary Lowell Stone scholarship fund,
invested in mortgage note. j. B. Winner,
$1,000: Davis prize fund. five shares
Quinsigamond National Bank, $500.
Elton fund: Invested in mortgage note.
fund: Cash in bank. s2sO.e7: invested
81 %ortTass no'e Kendall j. M f Mfdaeh in
vested in mortgage note. J. W. Hogg.
B. Winner. ss.ooo-s4,s7s. Misceiiane-
e stock, saoe: $4,000 5hesapeaRe and
Ohio canal bonds regarded as worth
less-$19o, 552.26.
Included in the assets of the Corcoran
endowment fund December 81, 1899. was
an item $4,000. unimproved lots These
are the lots granted by Congress for the
purpose of creating a professorship fund
They were carried into the Corcoran en-
dowment fund to replace assets Of the
fund used for other purposes. 1nasmuch
as these lots are the subject of a special
trust. to be separately accounted for, the
real state of affairs at that time was, that
the general fund was indebted to the Cor
coran endowment fund In the sum Of
$4,000. and that amount must therefore
be deducted from the above assets,
$4,000. Making total amount of assets
held by these funds December 81, 1893,
s155,5522 6.
To this must be added the following
amounts received since that date for adj
ditional endowments: E. *. Cutter fund,
$1,000: Eleanor J. Cooper medical en-
dowment. $3.50: National Park Semi
nary endowment, 500: DR.. John Odron-
aux endowment. S4.T92.G: Thomas F.
prize fund (additionaD, S1S9.94; building
site and enlargement fund, S:'6.OO3.T7:
alumni hall fund (net), $4,335. So: total
55,S72.o4-S211, 424.sO
Profits on Trust Investments.
ITO this must be also added the fol-
lowing amounts representing profits on
trust investments:
Amount received for 17l9 s street In
excess OF cost to the Corcoran endow-
ment fund, $s,451.35: amount received
from sale of Burgdorf lots in excess of
their cost to Corcoran endowment fund,
$7,749.21; amount received from sale Of
Columbian building in excess OF it's
cost to Corcoran endowment fund, $10,-
O93.7l: amount received from Quinsiga-
mond National Bank stock in excess of
amount carried as Davis prize fund, 500:
amount of profit on sale of Van Ness
Park, x31. $50. 20: amount of profit on sale
of Memphis Union station certificate,
S572.46: profit on sale OF $1,000 worth Of
Chicago, Rock Island and Pacific col
lateral 4 per cent bonds S.419.S9: profit
on sale of 5000 worth of Chicago, Rock
Island and Pacific ) per cent bonds of
1913. sJG6.2J: received from sale OF Ches
apeake and Ohio bonds, regarded as
worthless in 1899. S3.o1o. Total $50. 5l9. 66.
From this should be deducted the fol-
lowing amounts:
Payment Of prizes on account of Willie
E. Fitch prize fund, $10O; loss on sale Of
property at 9U3 NJ street, 81. 1907: pay
ments made on account of building site
and expansion find, $16,O42.Os; total, SIS