The Archives of The University of Notre Dame 607 Hesburgh Library Notre Dame, IN 46556 574-631-6448 [email protected] Notre Dame Archives: Alumnus Zhc Notre Dame Alumnus (Ed. note: The following paragraphs, re­ printed from "Fortune" magazine are presented for general information.) Vol. 28. No. 4 luly-August, 1950 A Parable of Our Times James E. Armstrong. '25. Editor or John P. Bums. '34. Managing Editor $676 for "The Creative Ones" John N. Cackley. Ir.. '37. Associate Editor This magazine is published bi-monthly by the University of Notre HOW TO MAKE $676 BY GIVING AWAY $15,000 Dame, Notre Dame. Ind. Entered as second class matter Oct 1, 1939. at the Postoffice, Notre Dame, Ind., under the act of Aug. 24, 1912. Since tax credit is given for the full pres­ ent value of stock transferred to education­ al institutions, the net cost to the donor is greatly reduced if he makes his contribu­ Table of Contents tion in appreciated stock. He thereby elim­ LOBUND INSTITUTE DEDICATION 3 inates the 25 per cent capital gains tax and LAETARE MEDAL PRESENTATION 4 liberates cash income from taxation. DEGREES AWARDED TO 750 GRADS 5 Take the case of a man with $100,000 of DEANS REVIEW ND PROGRESS 6 taxable income who owns stock that has CLUB PRESIDENTS' COUNCIL 9 increased in value from $10 to $100 a share. 1950 FOOTBALL ROSTER 11 If he transfers 150 shares of stock (worth ALUMNI CLUBS 14 $15,000) to an educational institution, he THE OLD CROU'D 21 pays no capital gains tax, and his taxable ALUMNI CLASSES 22 income is reduced to $85,000. The tax on this amount is $51,699, and his net income therefore, is $48,301. Had he sold the 150 BOARD OF DIRECTORS shares (thereby similarly liquidating capi­ tal) and made no contribution, he would OFFICERS have had to pay a capital gains tax of FRANXIS WALLACE, '23 _ Monorary President $3,375 (25% of the $13,500 gain) and in­ LEO B. WARD, '20 President REV. VINCENT P. BRENNAN, '32 J'irst Vice-President come taxes of $64,000 on his $100,000 in­ JOSEPH M. BOLAND, '27 _ Second Vice-President come. This would have left him a total of ARTHUR D. CRONIN, JR., '37 Third Vice-President $47,625, so he actually saves $676 by giv­ ing away $15,000.* DIRECTORS TO 1951 ARTHUR D. CRONIX, JR., '37 J>632 Buhl BIdg., Detroit 26, Mich. Although such cases naturally are excep­ LEO B. WARD, '20 214^ Rowan Bldg., Los Angeles 13, Calif. JOSEPH M. BOI.AND, '27 Radio Station WSBT, South Bend, Ind. tional, the fact that they can occur at all REV. VIXCEXT P. BRENXAN, '32....408 Baldwin Rd., Pittsburgh, 7, Pa. suggests the importance of this type of giv­ ing. Substantial savings, and sometimes a DIRECTORS TO 1952 profit, can be made by transferring stock, WILLIAM J. SHERRY, '21 804 Kennedy Bldg., Tulsa, Okla. WILLIAM B. JONES, '28 7102 Meadow Lane, Chevy Chase 15, Md. that has appreciated in value, to education­ R. CONROY SCOCGINS, '24 480 Humble Bldg., Houston, Tex. al institutions. EDWARD J. BECKMAX, '16 40 South Dr., Plandome, A'. J'. DIRECTORS TO 1953 : • Fortune, .\ugust 1947, p. 109 and 140. JOHN Q. ADAMS, '26 758 Lorraine, Upper Montclair, N. J. HARVEY G. FOSTER, '39 327 Federal Bldg., Indianapolis, Ind. Certain changes in income tax rates would alter RICHARD J. NASH, '23 6235 Kenmore, Chicago 23, III. some of the figures in the above example but would not DR. MATTHEW WEIS, '22 7379 Northmoor, St. Louis 5, Mo. prevent a net tax saving in the case cited. JAMES E. ARMSTRONG, '25 Mirector and Secretary 2 The Notre Dame Alumnus vr f"^^ * r::^ •^-Kf^-^^ii'Vis^ LOBUND Institute Dedicates Germ-Free Reunion Greaf Success The 1950 reunion; had everything, in­ cluding a treatment of Indiana's famed Life Laboratories on North Campus and variable weather. Nine hundred and seventy made the The importance to the modern world not be too late for this great idsological annual Alumni Banquet Saturday night, of pure scientific research, such as that and emotional conflict to be resolved if Jun3 10, and heard Father Cavanaugh, being conducted in colleges and univer­ it could be approached in the same way University President, review the year sities throughout the United States, Avas that a problem in physical and biologi­ at Notre Dame. His impressive speech stressed by nationally prominent speak­ cal science would be approached." will be reported in the next issue of the ers during the opening session of a sym­ ALUMNUS. Admiral Solberg declared during the posium June 21 on "Science and Society" Mr. Leo Ward, National Alumni Pres­ at the University. symposium that "the industry of tomor­ row will rely more and more upon the ident reported on the Alumni Board meeting which was held simultaneously Speakers at the opening session of the activities of the plant and animal world —upon the chemical work performed by with the reunions and Hon. Frank C. symposium, held in conjunction with the Walker, Chairman of the Executive plants and micro-organisms. Admiral dedication of a new Germ-Free Labora- Committee of the Notre Dame Founda­ Solberg was unable to attend the Sym­ tDry in the Laboratories of Bacteriology tion gave a report on the year's activity. at Notre Dame (LOBUND), included: posium personally and his address was Dr. Bradley Dewey, President of the delivered by Dr. Roger D. Reid, Head of Athletic Trainer Hugh Burns award- Dewey and Almy Chemical Company, the Microbiology Branch, Biological Sci­ ded the prizes for the Alumni Golf Tour­ Cambridge, Mass., and Chairman of the ences Division, Office of Naval Research. nament which this year attracted a Advisory Council for Science and Engi­ The Chief of Naval Research said that record 248 players. Surprise of the en­ neering at Notre Dame; Dr. Ira Bald­ he is in agreement with the statement tire tournament was Mr. Frank McCar- win, Vice-President of Academic Aifairs that "the photochemical energy resulting ty, of Kokomo. He played 18 holes Fri­ at the University of Wisconsin; Dr. Rob­ from photosynthesis might be more val­ day, June 9, and managed to break 100. ert Chambers, Professor Emeritus at uable to man than atomic energy." Saturday, June 10, he played another New York University; and Dr. Charles 18 and scored 105 but managed to grab DeKoninck, Dean of the Faculty of Phi­ Speaking of Naval Research, Admiral the prize for the least putts on 18 holes. losophy at Laval University, Quebec, Solberg pointed out that "it is our mis­ Mr. McCarty graduated in 1893 and was Canada. sion to stimulate, encourage, and coordi­ 76 last February. nate research and development in all Professor James A. Eeyniers, founder fields that will help to defend this na­ The class of 1935 claims the highest and Director of LOBUND which was tion in times of emergency and to assure number of reunioners, 161. The Silver announced as an Institute for Research better health and a more secure economy Anniversary Class (1925) took over in the Life Sciences, presided as chair­ for the nation at all times." He said Lyons Hall and had movies in the arch­ man of the symposium and told the audi­ that it always has been the policy of the way. 1915, 1920, 1910 and 1905 shared ence that "it is one thing to accept the Navy to "have the monies we spend on Howard Hall and their memories, both material benefits of science and quite an­ research and development come back to of which were far from absolute quiet. other to allow it to become a way of the taxpayer in some way wherever pos­ 1940 and 1945 shared Alumni Hall and life." There is mutual responsibility, he sible." 1935 was in Dillon. said between science and society to care Dr. Woolpert, in his symposium ad­ While all Notre Dame men look for­ for each other. dress, likened the world to "a culture ward to returning some time to the "The amount of intelligence and ener­ which we can examine as bacteriologists University, perhaps the richest experi­ gy that has been spent upon trying to might study a culture of micro-organ­ ence taken away from the 1950 reunions was taken by the members of the 50-Year prevent a future war through explora­ isms." Club. The 50-Year Award presented to tion of psychological, psychiatric tech­ "Let us recognize frankly that our Mr. Louis C. M. Reed of New York at niques is practically negligible. This is a world culture is mixed, that nature has the Alumni Banquet and subsequently great unexplored region for basic and contrived it thus," Dr. Woolpert declar­ mailed to all members of the club has applied science." ed. "Let us have faith in the potential evoked the most deeply-felt sentiments Although the "ideas and actions that compatibility, indeed the mutual inter­ regarding Notre Dame and what she emanate from the Kremlin are most dif­ dependence, of diverse elements and means to her graduates. A few of these ficult from our way of thinking," Mr. squarely face the problem of resolving letters are reprinted at the head of the Davis ventured the opinion that "it may basic maladjustments." Classes Section in this issue. July-August, 1950 Notre Dame is happy to welcome you Laetare Medal Presented to Gen. Collins into that disting^uished company of Catholic Americans whom she has been proud to honor, and to confer upon you During 105th Commencement Exercises this Laetare Medal." General Collins, in accepting the med­ The University on June 4 formally con­ tipped arrows of your wicked enemy; al, said he cinsidered it not a personal ferred its 1950 Laetare Medal, awarded make the helmet of salvation your own, honor but "a recognition by Notre Dame annually to the outstanding American and the sword of the spirit, God's of the part played by millions of men Catholic layman, on General J.