A trust syndicate, known as The Harvard Riverside Associates, which has raised money in Boston and New York, has from time to time gained control of property in Cambridge between Massachusetts avenue and the river, on the north and south, and DeWolf and Boylston streets, on the east and west, until it has now substantially all this section.

Two years ago Mr. E. W. Forbes '95 initiated the plan of buying up all this property in order to get it into hands friendly to the University, so that no building may be erected which will injure the surroundings, or be detrimental to Harvard interests. If at any time it seems wise or necessary to extend the Yard, all the old buildings in this section can be torn down, the dormitories and club houses left, with plenty of open space around them, where new and less expensive dormitories can be built, so that the Yard and the Mt. Auburn street district can be fused into one large yard with wide lawns stretching down to the river. This would make one of the largest college grounds in the country, extending from Harvard square to the Union, and from Cambridge street to the river.

The property has been acquired at considerable expense, and as the income from it is insufficient to pay the cost of holding it, including taxes and necessary improvements, a number of graduates have subscribed to make up the annual deficit. The land is held by five trustees, who act as the directors of the syndicate, and manage the property. The deficit is divided among the associates. These trustees are: Augustus Hemenway '75, Robert Bacon '80, T. N. Perkins '91, J. A. Burden '93, E. W. Forbes '95.