The institution of the Courtney Courtney Peabody prize for extraordinary achievement by an undergraduate was announced last night. The winner will be determined at a closed meeting of the Winthrop Senior Common Room early next week. Peabody's family decided that a fifty dollar prize for books, no single volume of which may cost over ten cents, would the most fitting memorial for Courtney Courtney, who graduated at the very bottom of a class of 863 back in 1935. Courtney met his tragic end last May, when he failed to keep his mouth closed during a tropical thunderstorm.