Columbia Covers Loss With Heavy Mortgage

Columbia University, which has operated at a loss ever since World War II, ha covered an expected deficit of $400,000 for the fiscal year to June, 1951, by mortgaging part of its rights to Rocketfeller Center for $7,500,000.

In order to help defray its operating expenses of $19,000,000 a year, Columbia had to raise student tuition fees by a third in 1949. However the registrar recently released figures indicating a five percent drop in the enrollment since last year. Because of the draft, the college expects to lose 20 percent of its enrollment next year. A further financial loss has resulted from a decrease in endowments while costs and salaries continue to rise.