In the last fiscal year before the endowment fund, the report of the Treasurer of the University shows a balance of $362,917.29. This report has just been published and is for the year ending June 30, 1919. This sum is a decided increase over the balance in 1916, the last year before the war, when there was a balance of only $9,973.08. The gain has been made in spite of an increase in expenditure of over a million.

Gifts for capital, either establishing new funds or increasing old ones, have totaled $1,322,553.44. The largest single bequest is that of $238,934.00 from the residuary bequest of Richard Black Sewell.

The total income of the University was $4,320,668.20, including interest from principal and general income. Tuition fees made up $688,364.22 of this total and rent from dormitories $139,527.99. The total expenditure was $3,957,750.91, of this $1,525,850.76 was spent for salaries of the teaching staff.