The graduation exercises of the class of '91 of Phillips Exeter Academy were held last Tuesday, closing the 108th year of this famous preparatory school. Seventy-eight men received diplomas. This shows a large increase in number over any of the graduating classes of past years. Forty-one intend to enter Harvard next fall, twenty will go to Yale, six to the Institute of Technology, three to Williams, and the rest will be scattered among the smaller colleges.

The commencement exercises took place, as usual, in the afternoon in the academy chapel before the trustees and a large number of invited guests, among whom were Professors Greenough of Harvard, and Professors Marshall and Brown, of Tufts College. The order and assignments of parts were as follows: Remarks by the president of the day, George Manasses Leventritt; class history, Charles Adams Kimball; music, Cheney's Orchestra of Boston; class prophecy, Chester James Wilcomb; music; address to undergraduates, George Jacobus; music; oration, Henry Cato Minton; class songs.

The speakers wore the gown instead of the customary dress-suit, a precedent which will probably be followed by other classes.

Mr. Leventritt made a short opening address, in which he presented to the Academy, in behalf of the class, the sum of three hundred dollars, as a memorial of '91. The interest of the fund is to be given yearly to the student, who, in public declamation, proves himself the best speaker.

Mr. Minton's oration was most favorably received and showed considerable merit. His subject, "American Civilization of the Future," was treated in a clear and concise manner, and showed much good thought.

Immediately after the exercises Principal and Mrs. Fish gave a reception to the graduates and their friends.