The latest statement of the complete plan for the use of the George F. Baker gift to the Business School, contained in Dean W. B. Donham's recent report to the President, includes the erection in the fall of 1926 at a factory building, student and Faculty clubs, and ample provision for athletics. It is expected, the statement said, that the entire cost of operation of the school will be charged to the students.

"With Mr. Baker's gift it is our expectation," said the report, 'that a complete plant will be built, comprising quarters for dormitories, dining halls, administration, classrooms, research, student and Faculty clubs, auditorium, a factory building for industrial management instruction, and athletics. Proper provision for extension will be made where this may be necessary. The plant will accommodate 1000 students. It is not expected that the buildings will be ready for occupancy before the fall of 1926. It is the hope of the Faculty that this School will not exceed 1000 students for an indefinite period in the future.

"The fundamental educational policies of the School will not be affected in any way by the change. It is planned in the future, as in the past, that the full cost of operation will be charged to students. We expect that the dining halls will be run without loss, in the interest of the entire student body. It is expected that the dormitories will yield net about 5 per cent on the cost of construction. This income will be used toward financing our research. It is not, however, expected that it will be entirely sufficient for this purpose, nor is it considered desirable that the School assume all the costs of research. Nevertheless, this new income should climinate the danger to our research organization of too great dependence on hand-to-mouth financing which has been for some time its only source of revenue. It will also relieve the Dean's organization of the constant pressure to raise money for the current expenses of research work. Using the income from the dormitories to support the normal research activities, we can expand as opportunity arises from this into a number of special investigations on particular industries, to be financed by the industries themselves.