The American School at Athens has published as its Fourth Bulletin a report on the work and aims of the school, by Professor J. W. White, recently professor of Greek language and literature here.

Since the institution was founded, 13 years ago, the managing committee has received for its yearly expenses, mainly from annual subscriptions from the supporting colleges, $660,044.53, (including $5,000 which was contributed by the Archaeological Institute of America toward the excavations at the Heraeum). A permanent endowment of about $50,000 has been secured and the value of real estate which it owns in Athens is estimated at $35,000.

There have been thirteen different directors and professors at the school, representing ten universities and colleges at home, and the school has had sixty students. These students received their first degree in thirty-one different American institutions of learning; thirty-eight of them have received higher degrees; twenty six have received the degree of Doctor of Philosophy, conferred at seven universities in America and five in Europe; forty-nine are or have been teachers, thirty with the rank of Professor in forty-two institutions of learning in the United States.

Professor White describes briefly the work which the school has carried on, including the unearthing of the theatre at Thoricus, "one of the most important and oldest of the Greek theatres which the excavations of fifteen years have brought to light"; he also offers some suggestions for the improvement of the organization and conduct of the school. He favors the existing plan of a director with five years' residence in Greece, and recommends two annual professors instead of one, as at present. His suggestion that the Archaeological Institute found two fellowships of $600 a year, to be filled by competitive examination and held for two or three years, has already been adopted and the following have been appointed fellows for the present academic year: Frank C. Babbitt A.B., Harvard, '90, Ph.D., Harvard, '95, and Herbert F. De Core A.B., University of Michigan, '88, A.M., University of Michigan, '90.