Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-01-23
NEARLY OUT OF DEBT
Financial Condition Of G. W. U.
Better Than for Years.
YEARLY DEFICIT IS SMALL
Annual Report Of President G. H.
Stockton.
TRANSFER OF DEPARTMENTS
Restoration Of Salaries and an In
crease in the Teaching Staff
Desired.
OF DEPARTMENTS

1.-THE Indebtedness Of the university has
been practically eliminated and its f1nan-
cial condition improved to an extent be-
yond that existing for many years." says
President c. Fl. Stockton Of George
Washington University, in his annual re-
port of the board of trustees.
President Stockton recounts the various
moves and changes necessitated by the
shake-up last spring and compliments the
university on the friendship Of the large
following Of students and instructors who
have stuck with it through the worst OF
it's trouble.
President Stockton's Report.
President Stockton's report reads in
part:
THE tentative budget for the year 1910
IL was presented to the executive COM
mittee of the board Of trustees by the
acting president. July -, 1910. and by the
committee adopted as such at that meet
ing. This budget, which with some
amendment was finally adopted and put
In force. applied to all departments OF
the university except law. medicine and
dentistry and the affiliated colleges. The
departments Of law, medicine and den
tistry, including the University Hospital,
have for the year mentioned a separate
financial autonomy.
1.-The reduction in the teaching staff in
all the departments OF the university,
which was accompanied by general re-
fessors. three assistant professors, one
instructor, three lecturers, one dean of
women, one assistant and one student as
Sistant.
Estimated Saving.
THE total saving estimated by the
budget of this year over that Of last year
is, excepting the departments mentioned
above. $43, 1880. This saving is mainly
due to the elimination of interest charges.
The total amount saved in the salary
list of this year for the departments Of
medicine and dentistry, including the
university hospital, Is $3,5s3.75; for the
department Of law, $6,343.47.
The sale OF the property at 18th and II
streets requiring the removal from the
buildings placed thereupon, the moving
began in August and continued In Sep
TENDER. The law department was moved
to and installed in the upper floors Of the
new Masonic Temple, which were rented
for period Of three years; the College
OF Arts and Sciences, with the exception
Of the instruction in history, was moved
to the group Of buildings on ] street near
18th street, which was rented for a pc
Rod OF one year, with the privilege Of
extension for three years; the Engineer
ing College and the Teachers College
still remain in these premises. The
chemical laboratory was moved to the
ment of history to the building occupied
by the College Of Political Sciences.
There being no room for the machinery,
etc. Of the mechanical laboratory OF the
College Of Engineering, a stable was
rented for it's storage at the rate of $500
per annum.
"a bequest of So, 5sS 80 was received in
November from Miss Ellen Woodbury.,
lately deceased, for the University Hos
pital for the purpose Of defraying the ex-
penses OF the reception and treatment OF
female patients. This has been duly in
vested as an endowment fund for the
above purposes.
Practically Out Of Debt.
ut gives me much pleasure to state
that as a result OF the sale OF the prop
erty at 18th and H streets at a price
above what had been offered by several
persons during the past two years, and
by placing a non-interest-be bearing deed of
trust upon the property of the university
in H street near 14th street, the indebt-
edness OF the university has been prac-
tically eliminated and its financial condi-
ton improved to an extent beyond that
existing for many years. The methods
followed in disentangling the affairs of the
university, as well as on account of the
obligations that had been accommodating
for many years. are given in the reports
of the Attorney General to the House of
Representatives, December u, 1910, pub
lished as public document No. logo, Sixty
first Congress. third session. That of
November 10 gives the resolutions for
cancellation Of certain subscriptions
whose objects no longer exist 1t is the
intention Of the board of trustees to pre-
sent matters concerning the future to the
consideration Of these former subscribers
with a view to obtaining an action favor
able to the immediate wants of the uni
versity. No change, however, in the
financial policy of the university as adopt
ed in the past summer Is proposed or in
tended.