Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-07-08
ALUMNI or penn
\ PLAN ENDOWMENT
Institutions Funds Meager and
Big Sum Is Needed for
Its Expansion
DRIVES START Indefinite

DRIVES START Indefinite
"There will be an endowment fund
raised by the graduates of the University
of Pennsylvania said Thomas W.
Hulme. president of the General Alumni
Society. today, in comment upon the
announcement of I'rinceton's campaign
for a $14 4,O00. 900 endowment fund
"But when the campaign will start.
and what will be the method of conduct
ing 1t, rests entirely with the board of
81 trustees.
"whether the responsibility for the
campaign will be assumed by the trus-
tees or by the Alumni Society, will also
be decided by the trustees.
''Plans for an endowment were con-
sldered two years ago, but the war be-
gan and the plans were laid aside
Money Declared Needed
"Pennsylvania needs the endowment.
Il There's no doubt about that. And the
fact that Harvard, as heavily endowed
Is she is already and Princeton needs
money, certainly indicates that Penn
sylvania with her very mcager endow-
ment needs a great deal more
Provost Edgar Fahs Smith. of the
university of Pennsylvania. said that
he knew of no endowment campaign
about to be launched either by the
alumni or trustees.
Wharton Barker believes that thc
alumni have never really been active
enough in their efforts to raise an on
dowment fund. 'For thirty nine years
have been trustee" said Mr.. Bar
ker, "and in all that time the trustees
have sought an endowment. but the
hlumni. have always been sluggish. They
have Fever organized for the raising
OF fund. A plan was presented two
yeaE ago. II was one of those so
called drives. And it was proposcd
that certain experts be hired to direct
the drive The plan was rejected be-
cause it stipulated for much too large
fraction of the amount raised as a
salary for the expert drive directors
Samuel F. Houston. trustee md
treasurer pro tempore of the University.
when asked to comment some time ago
upon the raising of the $4,000. 900
Harvard endowment. said he believed
that 1t would be extremely encouraging
If the alumni of the University of Penn
sylvania raised great sum for an
endowment fund. 1t is very possible that
the alumni might raise substantial
sum by campaign. They did present
plan for a whirlwind campaign some
time ago. and the trustees rejected it
because they didn't believe it feasible.
In such campaign the experts who
conduct it get substantial part of the
money raised and that money ought to
20 to the University.
THE trustees have no plan to raise
an endowment. The war came up and
carried their interests to other quar-
ters.''
New Buildings Wanted
That an endowment is needed is
agreed by all. whether trustee or
alumnus. The money is needed not so
much for the increase of the salaries
OF the teaching staff. The recently an
nounced general u per cent increase
adequately meets that problem for a
while. However. the money is neces-
sary to further develop various depart
ments of the institution. in the FORM of
hcw equipment and new buildings
The war deficit which the University
suffered was met by the alumni cam
paign last year. Sixtytwo thousand
dollars was raised and proved suffi :
GENTLY large to tide over the loss OF
Income during the war.
The. plan submitted by the alumni
10 1916 consists of three methods to be
conducted simultaneously.
First. An organized campaign to
solicit contributions from wealthy
Philadelphians. whose pride in Phila :
delphia institution would command their
generosity.
Blanket Insurance
Second. Blanket insurance for mem
bers of the alumni association with the
endowment fund named as beneficiary.
The alumni would be insured for small
amounts, and their payment of the pre- =
miums would be their contribution to
the fund. About 800 alumni die an
nually.
Third. Solicitation of cash contri-
. buttons each year from the graduates.
The plans were rejected by the trus-
tees, who suggested that committee OF
six of their number confer with the
alumni society's endowment committee
On the day fixed for the meeting
March 1 of last year, only one OF the
trustees was able to appear. Since
then, nothing has been done.