McCORD RELEASES THE HARVARD FUND REPORT

The fifth annual report of the Harvard Fund Council made public yesterday by D. T. W. McCord, executive secretary, shows a total of 6,067 contributors giving $162,407.85 to the Fund during the past year. As compared to the figures of last year's report, this shows a gain of 91 contributors and a reduction of $15,357.71 in the amount contributed. At the same time there has been a steady reduction in the expenses every year the drop this year being $4,583.12.

Since the inception of the fund in 1926, 10,400 different Alumni, representing every state in the Union and most of the principal countries abroad have given a total of $801,797.40 for the unrestricted use of the University. The figures for the past five years are as follows: in 1926, 3,305 contributors gave $124,975.53; in 1927, 4,832 contributors gave $152,285.58; in 1928, 5,639 men gave $184,362.88; in 1929, 5,976 alumni gave $177,765.56; and in 1930, 6,067 contributors gave $162,407.85.

In the conclusion of his report to the Alumni of the University. Eliot Wadsworth '98, Chairman of the Harvard Fund Council writes:

"The purpose of the Fund should be restated each year: It is to help the University meet the constant need for money to expand its work, enlarge its personnel, and improve its equipment by providing a way for all Alumni to contribute each year an amount fixed by themselves. The use of the Fund is unrestricted except that gifts by Alumni of a Graduate School only shall be used for that School.

In 1930, 469 Alumni of the Graduate Schools contributed $4,435.60.

The question is often asked, "Why raise more money for Harvard when such generous gifts are announced on Commencement Day each year?" The answer is that Harvard will always need more funds until it ceases to progress in the field of education.

In his Commencement Address, last year, speaking of the great gifts and changes which have come to the University, President Lowell said:

'Are we at the climax or culmination of something or other? No, nothing of the kind: We are merely at one stage of a long process, a stage which is no more significant than the stage which went before and the stages which will follow. That is the interesting thing about belonging to a University.'

The Harvard Fund coming regularly from an increasing number of Alumni is expected to prove an outstanding source of financial support through 'the stages which will follow.'

I beg to record here the gratitude of the Harvard Fund Council to Joseph R. Hamlen, '04, who has served as chairman since the beginning, to the Class Agents on whom the success of the Fund mainly depends, and to the great body of Alumni of whom 10,400 are already recorded as contributors.