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Since January 1, about $50,000 has been subscribed for the reendowment of Phillips academy. $500,000 is the sum which has been asked for and the results of the last fortnight have been very encouraging. Boston has already given $5,000 towards the $20,000 required for erecting the new science building. The balance of this it is expected will be raised by $5,000 subscriptions each, from New York, Chicago and Providence. Mr. M. C. Day of New York has given the academy the funds necessary for building a new cottage, to be called "The Bancroft." in honor of the present principal of the school.
Another cottage is also to be erected but it is not known by whom. The old alumni have been very active in seeking subscription although it is said that one-half of the money raised up to the present time has been given by men who have never been connected with the school.
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