A $2,000,000 fund known as "The Society of Fellows Foundation" was the result of donations made by the late President A. Lawrence Lowell '77, during the years from 1932 to 1934, according to a statement made by the President and Fellows of the University yesterday.

A letter deposited with the Corporation by Lowell, marked to be opened after his death, stated that the gift was to be kept anonymous until then and thereafter to bear the name of his wife as "The Anua Parker Lowell Fund."

Contents of Letter

In his letter,--addressed to Henry L. Shattuck '01, then Treasurer of the College, Lowell explained that the principal was to be kept intact and the income used to maintain the Society of Fellows, with any unexpended income to be added to the principal.

The Society of Fellows itself was established by Lowell in 1932 with the idea that it would give a small number of men, selected for their promise of notable contribution to knowledge and thought, an opportunity to devote their whole time to scholarship, free from academic regulations for degrees.

Privileges of Fellows

Opportunity of utilize any instruction given at the University and to use libraries and laboratories without fee is the privilege of these men. They are known as Junior Fellows, and are appointed for three-years. They may then be reappointed for a second term of not longer than three years.

The Junior Fellows live in the Houses, enjoying room and board without charge, and being paid in addition $1250 a year during the first term. There are never more than 24, and for the time being, no new appointments are being made because of the war.

It was also announced yesterday that President Lowell left his portrait, painted by Charles Hopkinson, to the University. The picture, which hangs in the Lowell House library, will hangs beside a similar portrait of Mrs. Lowell which was recently given to the University by the executor of the Lowell estate.