New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-10
COLUMBIA IN STRAITS:
CASH NEEDED At ONCE
President Butler, in Annual Re-
port, Tells Trustees NeCeS-
Sity Is Urgent.
DEFICIT GROWING YEARLY
Gift at Least Equal to John
Stewart Kennedy's $780,
600 Required, Else Re-
trenchment Is Likely.

Columbia University is facing a fnan-
| clal problem which, il not solved quick
~, will cause the university to retrench
and curtail Immediately and result in
untold harm i'm the development OF its
educational system. In this way Presi-
dent Nicholas Murray Butler has placed
before the university trustees, in his
annual report the fact that unless Co.
lumbia receives a gift as large as, IL not
greater than. the bequest Of the late
John Stewart Kennedy. which amounted
| to S2,5O0,00O. il will find itself in serious
| financial difficulties.
| DR.. Butler says that Columbia as now
organized and equipped may he likened
! to a giant in bonds. A large number of
/ the needs have been met by generous
| benefactions and by the skilful admins
! traton Of the corporate endowment. but
the growth and expansion of Columbia
have far more than kept pace with the
new resources that have been provided.
THE most pressing need of the univer-
| sity at the moment is not new buildings.
except the completion of University Hall,
sums up President Butler. "or new gifts
| for special purposes. but the provision by
ADEQUATE endowment of free income SUI
| fcient TO meet the annual charges for
| interest on the debt and for the re-
demption fund. This is the financial
| problem OF the moment and in serious
ness and importance it far exceeds any
| other problem which now confronts the
| trustees"
Deficit Accumulates.
In the last four years, according TO
! Dr. Buffers report, deficit of SlJi,39S ~
has accumulated The balance on the
wrong side of the ledger this year VIII
be more than $685. 21 O6. or about $4,000 less
than 1t was last year. The deficit FOR the
year 19l2-l3 shows an increase of nearly
$4,000 over bile In addition to this
deficit Columbia is carrying bonded
| debt of 100000
A striking feature Of the report Is the
table showing the gifts that Co!uihoia
received since its founding. In the lS'
wears from 1854 to 1890. $4,000 according
] TO Dr. Butler, would cover the fuli
/ amount In the eleven years In "hch
Seth Low was president gifts totaIilng
| &. 449. s02 So were received. In DR.. Butter
first ten years sl6,i ASS "A came in, and
/ in the last two years nearly A'VoVyO'
/ The total for the last year was N'oJ''-
I 935 SO, making a grand total for the twen-
ty-fve years of $25,76,7Oi A.
The largest gifts received were. s45O'ooo
from the estate of the late Joseph PUTT
| ger; $3.50, 900 from the estate OF the late
Francis p. Furnald; s67,642 Sc from the
estate of the late John Stewart Kennedy :
$50. $50 50 from the estate Of the late
! Annie p. Burgess; 100000 from Samuel
| p. Avery for the Avery Architectural Ia
brary: $4,000 from A. Barton Hepburn
| for the purchase and equipment OF the
Maison FRANCHISE; S20,2S2 o. from the
| estate II the late Charles Bathgate Beck
In; si2,5OO from j. Park Charming 49,
Science for the equipment OF the electro
metallurgical laboratory; SlO,OOO from
Charles II. Davis. 'S6, Science. for ad-
vanced instruction and research in high