UNIVERSITY PURCHASES LAND ON WASHINGTON ST.

It was learned late yesterday that the University had purchased from the Boston Lying-in-Hospital the property at 358-362 Washington Street, Boston. In making the purchase, which was handled by the Boston brokerage firm of Sleeper and Dunlop, Harvard has consolidated its holdings in that area so that it now controls the entire block and provides the University with an advantageous position for possible future development.

The purchase, however, according to W. C. Saeger, Bursar, was made purely for investment purposes, which is in line with the University policy of investing in Boston real estate. The total assessed tax valuation of the property which is under a long lease to Raymond's Inc., is $545,000. The sale price has however not been disclosed.