TELLURIDE NEWS LETTER Publication of

VOL. XXII, No. 4 ITHACA, NEw Yorm POST-CONVENTJON, 1 03()

Finance and Investments New Branch and Endowment Discussed The Finance and Investrn.cnts Committee had at its disposal The New Branch and the Endow­ throughout the year anrl . Few endowed foundations One of the fil'st acts of the Branch might be financed. ha\'c at their command the facilities 193G Convention wns the adop­ enjoyed by out· Association, and cer­ tion of the following resolu­ After discussing the different tainly few of them have come tion: l

TELLURIDE NEWS LETTER Deep Springs Discussion Trustees have expressed jn:formally PUOLTSHFJD BY their satisfaction with the r esu Jts of TELLURIDE ASSOCIATION Dough the experiment. Your Cornn1ittee ITHACA, 11 Deep Springs will need an ap~ felt keenly the advantages in ou1· de­ Editor: R. M. Gonell propriation from us of approximately liberations accruing from the Presi­ Posl-ConvcnLion Editor: E. M. Johnson $10,000 this yem·," rend President dent's acquaintance with rcccmt John Whittle in his report to the POST-CONVENTION, 1936 problems at Deep Springs and Convention, "and I recommend that strongly recommends thnt the pn~c­ News Letter Contributions it be given. Theil' budget has been ticc be repeated next year. u Contributions for the support of tl'immed to an absolute minimum~ The Convention indicated the de­ the News Let.l-cr nre l'equcsted. They and their anticipated income still s.ire that the President of the Asso­ should be sent to E. M. Johnson, bears earmarks of the depression." ciation attend the next spring Trus­ tee meeting. t re nsure r f o L' the fund, at Ithaca, In agreement with President Whit­ New Y cir k, and receipts will be rc­ tle, the Convention Committee on Furthe>:, in order to insu t-e more tuTncd fortlnvith. Voluntary contri­ Deep Springs dec.lared through its complete understanding and coopera­ butions m·e d esirn b lc, since it makes Chairman H. C. Mansfield that "Deep tion between Deep Springs and the u lHl cccssat'Y an othcnvisc n ccessn ry Springs needs our financial support Association, the Convention pnssccl large expenditure of time and post­ and will apparently continue to do a resolution that Acting-Dean L. A. 11 age money. f:o unless and until it secures more Kimpton be invited to visit the Cor­ permanent endowment. Operating nell Branch at his convenience dur­ Rum Raises Ugly Head overhead has been cut to a minimum ing the coming school yea1·." of approximately $25,000. Deep The Convention also passed the "The question of alcohol in TeU­ ·Springs income seems to run a little fotlowing resolution: "Resolved, that uridc House raised its ugly head this over $20,000., .leaving the operating Telluride Association express to tbe year," said Pl'<~sidcnt Richard Rob­ deficit plus the cost of instruction Trustees of Deep Springs. through erts in his report on the Cornell to come from our contribution. Be­ their Chairman, Mr. H. R. ~Valdo, the Branch. "A group of members de­ cause of our feeling a few years ago renewed thanks of the Association sired permission to serve beer on cer­ that expenditures at Deep Springs for the continuing generous coO}Jet·a­ tain occasions in the House. Upon were too high, we beg-an the practice tion which p1·evails between the two consultation with University authori­ of appropriating "up to" $10,000.­ organizations in all matters pertain­ ties, who offered no objection, seeing no more of it to be used than needed. ing. to their common purpose., that beet· is now served in Wilh:n·d Our impr(•ssion now is that the Trus.­ Faculty Straight Hall (The CorneU student tees perhaps lean over backward in union-Eel.), the House gt·antcd this During Convention 1'vh·. Kitnpton attempting to return as much as pos­ permission in defiance of a Conven­ talked with several Association mem­ sible of our appropriation. Partic­ tion opinion of several years ago. bers concerning their avaUability as ularly in enlarging· somewhat the in­ The permission was later rescinded teachers at Deep Springs, and th~ structing staff and in building up the by the Branch, but the whole ques­ Deep Springs Committeemen gav~ library now that the removal of the tion should be once more exhumed this matter long consideration_ The Whitman Library makes additional and discussed by the Convention." Committee stated to the Convention shelf space available, your Commit­ Traditionally, the Association has that, due to the heavy mortality tee believes that we would welcome been against the use of alcoholic bev~ among the Student Body this year, a somewhat fuller use of the ·$10,000 crages by members, but various Con­ there will be a lal'ge number of new made available. If we wish to re~ ventions, specia!Jy in later years, men to be assimilated in the autumn. move this continuing charge from have discussed the subject in an ef­ "Moreover," said Chairman Mnns­ our budget, we should bend every fort to make practice and theory field, ''no one on the staff there has effort to help raise a larger endow­ bear some relationship to each other. had connections of long standing ment for Deep Springs. In the mean­ The 193 4 Convention discussed the with us. Mr. Kimpton v.dshes to time, we think no other part of our problem at length, And it was the maintain Deep Springs contacts with income is being gpcnt to better pur~ concensus of that Con vcntion that the Association generally and to have pose." the members of the Cornell B1·anch on lhe ground some one 'vho can The C o n v e n i o n ap.propriatcrl should comply with the By-Laws re­ t from his own experience supply guid­ garding the usc of and the posses­ $10,000, for the use of Deep Spring·s ance and .leadership in developing As­ sion of intoxicating liquors. How­ for the coming ycat· and indicated sociation traditions. He can. pny a cvet·, the 1036 Convention adopted that it would prefer to have more modest compensation to such a man. the following resolution: money expended on faculty ra.thet· We think the Association should Reso.lvcd, that the Cornell Branch than to have it returned to the As­ meet Deep Springs half way on this. 11 be authorized to amend its By-Laws sociation at the 1937 Convention. The Committee Chah·man com- so as to permit the use of alcoholic Cooperation plained of their inability to find an beverages in the House upon occa­ 11 This year a new experiment in Association man who "seen1s to feel sions to be deterlllinecl in advance cooperation with Deep Springs was the moral beauty of making "\vorldly by the Brancn in each instance, and tried," continued Chairman Mans­ interest subordinate to sense of that the Branch be held responsible field of the Deep Sp1·ings Committee duty." II' h I for the gentlemanly conduct of its lt1 t c attendance of our President "The Committee is sen sib I e of the members. 1 at the Trustees meeting· in May. The (Continued to Page 10) TELLURIDE NEWS LETTER

Finance and Investments Original Trust Securities With Accretions ( Cont·inned f-rom Pauc 1) Small blocks of STOCKS Cost deemed necessary. drug and food stocks were disposed 333J)OO Sht·s. Tellmidc l>owcr Co. Common $1.00 p. v ...... $2GS,306.8G of on the theo•·.v that they were good DGL Utah Fire C.lay Co. Common $50.00 p. v. G7,1G2.DO depression stocks, but would not in.­ 26 American Can Co. Common ...... 3,048.00 ct·ease eal'nings much in the future. 50 Am. Tel. & Tel. Co. Common ...... 10,.183.75 A general policy in favor of holding 50 tJ American Tobacco Co. ''B" ·$25.00 p. v ...... 5,0G8.75 stocl