University Club.

The committee of graduates appointed to raise subscriptions for a university club have as yet taken no active steps toward collecting the necessary funds. The reason for their inaction is the financial uncertainty which has existed throughout the country for the past few years. Under such adverse circumstances they feel that it would be worse than useless to begin so important a project, for it is certain that, before the committee can think of building, $200,000 must be guaranteed. An attempt to raise funds at this time could hardly be successful, and the committee therefore feel that it is best to wait for more favorable conditions. There have been rumors that the inaction of the committee was due to their uncertainty in regard to undergraduate and graduate opinion on the subject. These are entirely unfounded. The committee were entirely satisfied with the undergraduate support they received last year, and the enthusiastic letters received from Harvard clubs throughout the country have entirely set at rest any doubts as far as they were concerned. The policy of their inaction is entirely endorsed by graduate opinion.