Endowments Of University Up 11% in '51

The University's endowment fund has increased $27,000,000, in value since last year to a total of $274,000,000, according to a report released yesterday by the George Putnam Fund, investment brokers.

Paul C. Cabot, Treasurer of the College, attributed the endowment fund's increase to a rise in the stock market. "There has been an increase in the market value of common stock," he said.

The Putnam analysis, based on market value, broke down the 11% increase in the 300-year-old fund to $7,500,000 in new money and approximately $19,500,000 in capital appreciation.

The University reduced somewhat its holdings of United States Government bonds and increased its percentage-wise holdings of common stocks. In June, 21.9% of the fund was invested in government bonds, compared with 24.9% the year before. Common stocks, on the other hand, comprised 45.9% of the total, against 43.8% last year.

On June 30, holdings of common stocks were: 21.5% oil, 20.5 % public utilities, 10.8% insurance companies, 6.8% chemicals. Major purchases of oil stocks included American Republic, Seaboard Oil, Superior Oil, Pure Oil, and Socony Vacuum.

Major purchases of stocks during the year included: J.I. Case, Seaboard Air Line Railway, Eastern Gas and Fuel, B.F. Goodrich, and Colgate-Palmolive-Peet. Largest individual holdings were in Standard Oil, General Electric, Christina Securities, International Paper, Insurance Company of North America, General Motors, Illinois Powers, and Kennecoit Copper.