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The Phi Beta Kappa society offers two prizes of $3,000 each "for the best general essays on the progress of science and literature respectively; such essays to embrace a philosophical discussion of the development in the past and the outlook for the future." The judges are to be Presidents Dwight of Yale; Eliot of Harvard; Angel of the University of Michigan; Gilman of Johns Hopkins; Adams of Cornell; Northrop of the University of Minnesota; and Bishop Potter of New York.

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