The second report of the Carnegie Foundation for the Advancement of Teaching, which has been published recently, shows that there are now on the list of sharers of the fund 148 persons, of whom 133 are retired professors and 15 widows of professors. The total annual expenditure amounts to $202,145. During the year 1906-7 $5454.54 of this amount was assigned to Harvard, and was divided among three beneficiaries. Since the first of August the petitions of five persons connected with Harvard have been granted, so that the University now has eight persons on the pension list of the Foundation.

By vote of the Corporation the grants from the Foundation are so administered that persons who are entitled to receive both the Carnegie Foundation allowance and the regular retiring allowance of Harvard University do receive their allowance under the rules which give them the largest income. That is, if the rights of an officer are greater under the Harvard rules than under the Carnegie Foundation rules, the retiring allowance will be computed in accordance with the former. If, on the other hand, the rights of an officer are smaller under the Harvard rules than under the Carnegie Foundation rules, the latter will prevail.

The Carnegie Fund was started in 1905 with an original endowment of $10,000,000, which has since increased to $10,719,486. During the past year the income was $644,031, and the expenditures $198,797, leaving a balance of $445,284 to be added to the accumulations.