Through the generosity of Jesse Isidor Straus, of the class of 1893, the Department of Economics and the Graduate School of Business Administration are enabled to offer jointly a prize scholarship of five hundred dollars for the academic year of 1920-21. The award will be made on the basis of the candidates' academic record and such written work as may be submitted. The holder of the scholarship will be required to devote a substantial part of his time to the investigation of the effect of state usury laws upon lending operations in this country. It will be desirable for the incumbent to spend the greater part of the ensuing summer in New York City in an investigation of this subject. All those who expect to be enrolled next year in either the Graduate School of Arts and Sciences or the Graduate School of Business Administration are eligible for the appointment. The holding of another University fellowship or scholarship does not preclude acceptance of this prize award. Candidates for the scholarship should leave copies of their academic record and any papers submitted in evidence of their qualification either with the Dean of the Graduate School of Business Administration or the Chairman of the Department of Economics. Further particulars regarding the competition may be obtained from either of these officers not later than Thursday, May 27.