Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-07-08
c. v. j. MAY REMAIN IN
PRESENT QUARTERS
Offer for Property included
Willingness to Rent Building
to Institution for a Year.

Strict secrecy by all the parties con-
cerned is maintained as to who made the
offer Of $5JOOOO for the property Of
George Washington University, at 18th
and III streets northwest. The offer was
made by a member of the board Of trus-
tees to the executive committee Of the
board, and 1t is expected that the trans
fer of the property will be completed in
a short time.
The name of the member Of the board
making the offer would not be given out
and he in turn did not tell the other
members of the executive committee
whom he represented in making the Of
fer.
He is said to have offered $3.50 900 net,
without any agents commission. and
said he would put up the sum Of $4,000
to bind the contract.
The perscn or persons who contsm
plate b"H:ag the property are willing
1t is said. to rent 1t to the university
FOR year for $4,000. Whether the
university will accept the offer and re-
main In its present quarters for NJ
other year has not yet been decided and
will depend largely upon financia. con-
alterations.
In case the university has to vacate
the university hall and law building, 1t
will probably occupy quarters on the east
side Of 14th street between H and
streets, and the buildings from 1928 to
1884 street northwest Use will also be
made of the extra quarters available in
the buildings of the medical school. A
memb. of the board of trustees en-
phutice,.iy denied today the rumors that
1T WAS contemplated disseminating the
irol hnCn}fal "a
versity.
Debts Of the University.
AS there seemed to be a misunder-
standing on the part of some persons
regarding the amount of Indebtedness
of George Washington University. a
member of the beard of trustees gave
the following statement to reporter
for The Star today:
"The statement that has been pub
lished that the debts Of the George
Washington University amount to
$849,389.76 is incorrect and misleading.
AS recently stated by the board Of trus-
tees in their communication to the Cham
Der Of Commerce and the Board Of Trade
the total Indebtedness Of the university
is about $555.OOO. the mortgage debt be-
ing $4,000 and the other Indebtedness
about $105.OOO.
'"The endowment funds are at present
invested in the university buildings and
the library, fixtures and apparatus of the
university. The endowment funds are
therefore not debts; they are at present
part of the working capital of the
University. The only obligation of the
university with respect to the endowment
funds Is to convert the real estate in
which they are now invested into inter-
est bearing securities.
1T the real estate were SO sold and con-
verted the university would have total
resources remaining of about $1,000, 600
OF this probably $45O. COO would be endow-
ment funds but the greater part of the
income from these endowment funds
could be used for the ordinary expenses
of the university.
1.-THE statement that the elimination of
the medical department has been con-
templated ever since the reorganizati ton
of the board Of trustees, some months
ago, Is also incorrect. 1t has been
definitely settled for some weeks that
the medical department will be con-
tinued. and the catalogue is now nearly
ready"