TELLURIDE NEWS LETTER Publication of Telluride Association 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 <luring Con­ ment Committees reported jointly on v~ntion a great deal of authoritative the qualities peculiar to a now information nnd advice on invest­ John Albert Boshard Branch of the Association and the ways by which such a new ment.'>. 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<incls of brnnches and the necessities U11·ough the clep1:ession so fortunate­ Whereas, the membet·s of of the Association, the Committees ly, both as to preservation of capital Telluride Association, by the eliminated hom considet·ation sever­ funds and the pel'centag·e of income untime.ly death of their fellow­ al projects which had tentative.ly on· the investment. The great vnri­ member, John Albert Boshard, been considered by previous Conven­ cty of investments in stocks and have lost a man who manifest­ tions, by Association Committees, bonds of scores of companies pre­ ed highest loyalty in his years and by members and officers. In­ sents to out· mcm bers a complicated of service to the Association dustrial connections, for example, prob.lcm indeed, when compared with and constant friendliness in his unless owned and operated by the the relRtivcly simple financial prob­ personal relations with success­ Association, would be relatively un­ lems of a few years ago, when most ive groups of members, now, desirable, because changes in owner­ of the Association funds were in­ therefore, be it ship or management policy might vested in lm·ge sums in half a dozen Resolved, that the members make continuation of school work im­ institutions. of Telluride Association hereby possible, the Associntion at best 1 ' Dllring the past year, a signifi­ acknowledge their debt of grat­ would have a rather .limited control cant shift was made in the relnLive itude to him, and hereby ex­ over the time and work of the stu­ proportions between our bonds and press their dete1·mination to re­ dents, and opportunities for placing r.ommon stocks," said the Chairman gard his passing, the first from yesponsibility on the students would of the Finance Committee in one of the active membership since be limited. The type of work of­ his prC'.liminat·y reports to the Con­ the death of the founder eleven fered in factories pt·obably is less vention. "No such change could have years ago, as an event which, helpful and desirable than out-door been made without the active inter­ even in its sadness, must occupations, and for these stnd other est taken by the Custodians, particu­ strengthen their sense of de­ reasons, the Committees believed we larly Pt·esident \Vhittle and Harvey votion to the founder's iden.ls. should have a new pt·imary bmnch Mansfield, and the careful attention· In his report to the Conven­ connected with an agricultural enter­ of Tt•easurcr Biersach and Sidney tion, Treasurer Biersach said, prise. WR.Icott, to · all of whom our thanks 11 1 cannot proceed without ex­ Pinhead Pomologish nrc due. pressing my feeling· of the The agricultural work should be 40'/'t: - Gor;;; gTeat loss we sustained in the of a type sufficiently profitable to death last April 1st of our "Almost exactly 40'/f, of om· hold­ support largely ot· en tlrely the ex­ long·-time, close associate, John ings, exclusive of Tellut"ir\e Powet· penses of operating the Branch, and A. (Rert) Doshard, who served Comnnny and Utah Fire Clay, arc the work should be suited to the abil­ Telluride Association so ably now in bonds, whereas the percent­ ities of students. The Committees dis­ 1 and faithfully as he did ou~· age a yeaT ago was nearer 60 /n . This cussed gTnin, dail·y, poultry, anrl commercial inte~·esls find every action was taken in accordance with fruit enterprises, and chose as best activity with which he was the t•ecommendation of last Conven­ suited to our purpose fruit-growing. l.ion1s F'inance Committee, which felt identified. He wUI be sadly missed by everyone of us who "We believe that the work that the p!'ice of high-grade bonds con­ had the p1·ivilegc of working nected wns too high to justify their pur­ with fruit-growing is more with him dul'ing the past quar­ dcsimble than thnt on dairy chase. \Ve think that is still true; and ter of a century. I saluto his poultry farms," said Chairman Lev­ but caution requires that we proceed memory." ering to the Con ven tio n. "In carefully while holdin·go such a Jligh add i­ Other officers and commit­ tion, good fruit men make percentage of common stocks, nec­ much teemen expressed similar sense higher returns on capital invested essary as they may be to protect us of loss through the death of and lnbor used than do good dairy against the demon inflation. Bert Boshard. men. Risks involved in ft·uit-grow­ "No great alteration of the pres­ ing in the East near good markets ent pr.opot·tions of our holdings is (Continncd to Page 4) (Continued to Page 3) 2 TELLURIDE NEWS LETTER 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, NEW YORK 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.