The Washington times., 1910-06-10
Funds to Provide for and
Perpetuate the Institution
Will Be Forthcoming.
APPEAL TO BE MADE
TO DISTRICT PRIDE
Chamber Of Commerce and Board
of Trade to Act Promptly on
Call for Funds.

Smarting under the sting OF chal-
lenge from the Rockefeller TO show
some public spirit in the support of the
city's Institutions. educational board
and OF Congress, the business men Of
Washington, as represented in the
Chamber Of Commerce and the Board
of Trade. are preparing to take active
part in the campaign for funds for
George Washington University
Added to this appeal to the pride of
the citizens is an earnest plea for help
from the board Of trustees Of the uni
versity. adopted at a meeting last even
ing.
Special committees Of the Chamber Of
Commerce and the Board OF Trade, It
is believed, will be appointed to take
up the matter Of the university's needs.
and within day or two some action by
the executive committees Of the two
organizations viii be taken to bring
about the active cooperation Of the
citizens Of the District with the efforts
OF the university authorities 20 make
good the deficit that now exists in the
funds Of the institution and to place IL
upon firmer foundation.
Adopt Publicity Plea.
Second only in Importance 10 the ap-
peal made 20 the two business organiza-
uons vas the adoption yesterday after
noon by the board Of trustees Of a plan
for the widest publicity of the univer-
sity needs and condition. Hereafter
the public is TO be made aware of every
feature OF the work Of the trustees and
the bushes as we'll as the educational
progress Of the institution.
There was no difference of opinion
among the trustees as TO the wisdom OF
this course and the adoption of this
plan, with the idea that the public
snOuld be made 10 believe the university
10 be its own in every sense of the
word, had the unanimous support Of the
entire board.
fronts the trustees, a vital need at the
present time, Spurred them to make
their direct appeal for aid 10 the busi-
ness bodies They pepared their state
ment with great care and this morning
the president Of each of the two bodies
formally received IL.
The appeal follows:
ITO the Chamber OF Commerce and
Board Of Trade of Washington.
The board Of trustees of C,eorge
washington University respectfully rep
resent: That they have had a careful
examination made concerning the edu-
caUOnal organization OF the university
with the result that they are of opin-
ION that the present educational organ-
lzat1On ought to be retained II has been
gradually evolved to meet the needs
these needs.
They are Of opinion that while some
economies can be made I'm the admins
tTatlVe and educational work Of the
university on its present basis, the
amount saved would more than be "a, ken
u II the educational organization on its
present basis were made thoroug hly
efficient.
They further represent they are with
out FUNDS TO maintain the university on
Its present basis. The total assets Of
IIle university. exclusive Of a bout 500
600 of securities and real estate now held
IN trust as endowment funds. consist Of
the real estate at the corner Of Fff-
teenth and II streets, occupied by the
main university building. and the law
ScnOOl building, containing 20 On1 sulara
feet, valued at about S66J, 600. the real
estate In II street. between Thirteenth
and Fourteenth streets, occupied bv the
medical school and hOspitCl. containing
l4,b55 square feet, and va ued at about
$4,000, and the furniture. eouiprnent.
and fixtures.
Owes More Than Half a Million.
All this last mentioned real estate is
subject TO deed OF trust 10 secure an
Indebtedness Of $4,000 Besides this
debt. the university now owes about
$.L0OO and on August 81, 1910. the end
OF the fiscal year, will owe, as the result
OF liabilities already assumed. about
SS4.OJO additional, which will make the
The total Indebtedness OF the university
on August 81. 1910, Will therefore be at
least $4,000
IF the main building at Fifteenth
and II streets and the adjoining law
school building We're sold, enough could
probably be realized to pay the debts
leaving small balance. The amount
needed 70 restore the amounts borrow
ed from the endowment funds for cur
rent expenses, including $63. 900 10 make
good the endowment given by Congress
In 1892. is about 100000 This amount
could only be restored by selling the
main building, the law school, and the
medical properties.
Sale of Buildings Discussed.
IF the medical school and hospital
property in II street, between Thfr-
teenth and Fourteenth streets. were
sold, enough could probably be realized
to restore to a productive basis the
endowment, and leave balance Of
at least $1,000. This balance ought
probably to be used to build 2. rnedi-
cal school on a new site, the land now
occupied by the medical school having
been given by William w Corcoran
for the purposes Of the medical depart
ment.
Should the university pay the debts.