Arizona republican., 1920-12-05
By James Il. MecIintoek

by James IT, MCSllHkoSk
 At the last meeting of the Arizona 1 Normal Alumni association, held on the campus at Tempe in June, during commencement week, there was deter imitation to establish an alumni en- dowment fund. through which students Of meager means might be helped to finish their studies which otherwise might be broken or terminated. This movement one very acceptable to President Matthews and to the faculty. was placed before the assembled alum nj by Clarence M. Paddock of the class of 1903, newly elected president of the association.
 The idea was novel only in its elab- oration and in the large sum proposed to be raised, for already is there an en- doWment fund. As early as the fall or 1903, financial assistance had been given in small sums to students. This is upon the basis of the establishment that year of a fund of $400 set aside by w. J. Kingsbury, president of the Farmers & Merchants Bank of Tempe. to be used, under the order of a com mittee of faculty members, for the purpose of assisting students in their l senior year, this under such rules and
 
 might prescribe. The first loan, ac- cording to President Matthews, was made October g, 1908, and since that | time 48 students have received assist ance. This fund, according to MT. Kingsbury, is to be perpetual and Is to be administered by him. through his | bank, as long as the bank exists.
 | A letter from MT. Kingsbury, just received, speaks of the fund as. "The l Kingsbury Senior Assistance Fund, :" and gives the following details of its administration: "The money wa s 1 loaned at 4 per cent per annum and was supposed to be returned to the | fund out of the first money earned by the student after graduation. The money was of course only used to de- fray the actual living expense of the | student. The fund, at the present time amounts to about $500, and 1t was my intention to increase the amount ir order to meet the necessities of the graduating students. The amount used
 by each student is usually very small
 ranging from $50 to $150. Usually the
 students do not require assistance un-
 til the second semester. They star
 out thinking they can get through. but
 usually owing to some diversity in tht
 family, they can't quite make it an( it's then that the committee is impor-
 tuned to assist them to finish theil graduating year. The fund has beer
 used by about seventy five student
 and up to the present time no losse
 have been made, and there Is only ont outstanding loan which might be calleC
 slow and that is due from one of thu
 young men. I might say in this con
 nection that the girls have been nor
 prompt in returning the money to tn
 'und than the men have. Professo Matthews and the faculty seem t' tbink that the fund has been of nor material benefit to the poor studen than any other one thing that has beei done for them, as most of the student
 who have availed themselves of tn fund would have been compelled t quit school before graduating withou the assistance obtained through 1t" About year ago a call was mad upon the alumni for the establishment of a somewhat larger fund, and sub scriptions were received, generally i small amounts. from the graduates addressed by circular letter. On as sumption by Mir. Paddock of the presi dency, there was determination that a alumni fund of s10,000 be raised, to b invested, only the interest to be uset with expectation that with each sue ceeding class the principal sum woul be increased. Upon this work the ne' 5 | officers already have started with en