The treasurer of the Cornell University Navy has handed in recently the report of receipts and expenditures for the year beginning Oct. 15, 1890, and ending Oct. 1. 1891. The report shows that a surplus of Section 199.65 was left from the previous year thus giving the navy a good firm foothold to start the year upon.
The students subscribed about $2500.00 and several men outside the University, but actively interested in its boating prospects added nearly a hundred dollars. Enough was given in other ways, by means of a University dinner collection. a "Masque" benefit, etc., to swell the total receipts for the year to $3.557.11.
The expenditures last year, unlike those of the year before, were so great that the balance in the treasury at the end of the year was only about $15, the amount of the expenses having been $3.542 05. There were outstanding debts for board of the crew etc., amounting to $339 00. so that the cash which was on hand at the end of the year was not really gain. Besides these acknowledged debts there are two or three claims of payment for items which have not been audited or allowed by the Athletic Association as yet. The Navy finds itself, therefore, at the beginning of this year, forced to start out more or less. crippled by several acknowledged debts and two or three uncertain ones.
These figures show that Cornell does not spend nearly as much as Harvard and Yale on her boating interest. The subscriptions are raised by a method unknown at Harvard and one which does not seem as profitable as the one employed here.