President Eliot's Annual Report suggests most forcibly the great need of additional endowments to the University's material resources "if the primacy of Harvard University among American institutions of education is to be maintained. As the report points out the total of gifts and bequests in the last three years was something above half a million, while "during the same period at least five American universities, all situated outside of New England, received much larger additions to their endowments." The enormous single gifts to Columbia and the youthful but rich University of Chicago throw the benefactions to Harvard into insignificance. In the recent gift of a million dollars to Columbia that institution received almost twice as much at a single time as all Harvard's gifts and bequests for the last three years amount to. The enormous benefactions by single individuals in recent years to Leland Stanford University and the University of Chicago have built up in a few years powerful educational institutions which in material resources, so necessary to a great university's welfare, and in attendance are no distant rivals of the New England universities built up through long years of toil and self-sacrifice.

"The Corporation could use the income of additional endowments to the amount of ten millions of dollars for the satisfaction of none but well-known and urgent wants." It seems a direct reproach to the many rich Harvard graduates, of which Harvard has more probably than any other university in the land, that it should suffer so severely for the means to carry out the plans so wisely and broadly conceived to make it a complete university, doing the most that it is capable of in the field of education.

At the University of Pennsylvania, alumni and outsiders may use the library on the payment of a yearly fee of three dollars.

The intercollegiate fencing contest to be held in New York will take place earlier this year than usual, probably in March, as that is the only month in which Annapolis can send a team. Besides Harvard, Columbia and Annapolis, last year's competitors, teams will probably be entered from Yale, Cornell and West Point.