track team took in $7,225 less than it received. A comparison with the year 1910, shows that of the major teams, football was the only one to decrease its expenses, there being a saving in that sport of $2,000.
"It is noticeable that in accordance with the general policy being pursued at Harvard, the minor teams have cost more. The attendance at the football games in the fall of 1911 was very large and should make up the loss of the year preceding. The receipts of the year were the smallest for some years. In 1908, the total receipts were $127,000. In 1909, they were $124,000. A substantial part of this decrease is due to the present policy of not soliciting subscriptions for the various teams from students. The experience of the past year shows that unless economy is practised, it may be necessary to return to popular subscriptions.
"The total amount spent in athletics seems very large. In the management of games however, no expense is spared to insure the comfort and convenience of those who attend. Supervision of expenditures of the teams is getting stricter every year. The development of the minor teams and the extension of the policy of inducing more men to participate means much more expense in the preparation and care of the grounds.
"The student body, as a whole, is probably getting more benefit from the money received and spent by the Athletic Association than ever before."