University's Income, Expenses Increased in Past Fiscal Year, Corporation Treasurer Reports

Income and expenses of the University rose during the past year, according to the annual report of the Treasurer, William H. Claflin, Jr., to the Corporation released yesterday. As in past years, the University is shown to be financially sound, but eked out a bare $843 balance.

In the departments of instruction, research, and administration an income increase of $232,000 over last year was noted, bringing the gross figure to $10,998,749. Expenses rose even further, however, so that instead of last year's $100,000 balance in academic activities, a smaller profit of $38,847 appeared.

Service Deficit Caused

Offsetting this balance, the service departments reported a deficit of $38,003 against a profit of roughly $15,000 a year ago. Current service expenses ran to $3,282,000 as opposed to an income of $3,244,000.

Because of the slight $843 balance, coming from all but restricted endowments, some quarters termed the report a justification of the University's refusal to increase permanent positions and of the rise in food prices. Student Council committees are at present considering both problems.

Endowments Rise

During the 12 months ending June 30, 1939, the endowment funds, which include funds subject to annuity payments, increased by more than $3,000,000, making a total of $140,185,769.

Of the same date, the market value of general investments, which consists of bonds, notes, and stocks comprising over 86% of the University's total investments, was 97.5% of book value, compared with 96% a year previous.

The Treasurer's report for 1938 reduced the book value of University holdings by $8,000,000. This year's report shows a slight increase.