PROFESSOR SPRAGUE RETIRES IN MARCH

Business Administration Teacher Was Bank of England Advisor

Oliver M. W. Sprague, Edmund Cogswell Converse Professor of Banking and Finance at the Harvard Graduate School of Business Administration and formerly Economic Adviser to the Bank of England, will become Professor Emeritus, effective March 1, the University announced yesterday.

Professor Sprague began teaching at Harvard in 1900. He was instructor in Economics, 1900-04; assistant professor of Economics, 1904-05; and then left to become professor of Economics at the Imperial University of Tokyo, 1905-08. He returned to Harvard as assistant professor of Banking and Finance in 1908, and became Edmund Cogswell Converse Professor in 1913.

He was on leave of absence from Harvard from 1930 to 1933, serving as Economic Adviser to the Bank of England, 1930-33, and Financial and Executive Assistant to the Secretary of the Treasury of the United States from June to November 1933, when he returned to Harvard.

He is the author of "History of Crises Under the National Banking System," 1910; "Banking Reform in the United States," 1911; "Theory and History of Banking," 1929; and "Recovery and Common Sense," 1934.