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Show Dr. Thomas reported that the RE" R. 0. T. C. etebl es more finished, that the gymnasium extension ~Ls almost finish ed, and that in the heating plant the old boilers had been thoroughly .repaired and the new boiler installed, but that the "5115 had not been erected and the stokers were not yet received, but that the heating plant has in better shape, at the tresent time, than it had been for some years. 'h . / The following letter from his: Lucy fl. Van Cott, Dean wt of human, was read: ggfi To the President and ; lembers of the Board of hegents. , I3 dear ienbers: Your recent action in regard to charging interest for the use of the money in the Girls' Loan Fund res taken, I be-lieve, without your being informed of all the conditions as to the founding of that fund. - - The idea came from Columbia.University, yhich lent to money without interest until I graduated, and then only two per cent interest was charged. In 1911 this fund was founded with a spirit and with the understanding rith all donors that no interest should be charged until date of maturity of note. The sane understsnding has been had uith every donor since. The lawyers of your Honorable Body will understand the legality of such a provision as has been made. Furthermore, such a provision as the Board made in its last meeting may "" JW* materially effect the future welfare of the Fund, as on the day the newspapers tublished the announcement i heard tro lumen say that they would change the bequest in their will. 1 have every reeson to believe that one of these gifts see a £31 very substantial one. of ser- ‘ e s irit of the founding of the Fund was one .vice, enghthepcherging of interest will make it orohibitive the to the poor girls who most need it. e an res,on ible for -horan setting of practically all the money in the Fund and nghly acquainted tith conditions. n. bill you be kind enough to reconsider your actio Sincerely, IVLA . (Signed) Lucy M. Van Cott Dean of bomen. |
