At a meeting of the President and Fellows of Harvard College on April 8, an offer was received from Mr. E. C. Converse, of New York, to establish the Edmund Cogswell Converse Professorship of Banking in the Graduate School of Business Administration, with an endowment of $125,00. This offer has been gratefully accepted.
Mr. Converse comes from an old English family which migrated to America in 1630, settling at Charlestown. His great-great-grandfather, whose name he bears, graduated from Harvard College in 1718. Mr. Converse himself prepared for Harvard at the English High School, but owing to temporary family reverses went into active business instead, starting in with the old National Tube Works Company of which his father was president. Mr. Converse advanced himself rapidly through all the offices and finally became president. For many years he has been president of the Liberty National Bank, the Bankers Trust Company and the Astor Trust Company all of New York City; and is a director in many important corporations throughout the country. He is a man of large influence, of exceedingly wide reading, cultivated tastes, and broad interests, and it would indeed be difficult to find a more appropriate name than his to attach to this new Professorship of Banking.
At the same meeting of the President and Fellows the following gifts were also received and gratefully accepted: an anonymous gift of $5,000 to establish the Lawrence Carteret Fenno Memorial Free Bed Fund in the Collis P. Huntington Memorial Hospital; a gift of $1,250 from Alfred T. White, h.'90, for immediate use in the department of Social Ethics; securities amounting to $28,000 from Mrs. J. K. Paine to establish the John Knowles Paine Fellowship in Music; twenty-four thousand dollars from the estate of Mrs. Caroline M. Barnard on account of her residuary bequest; from the estate of Dr. Henry P. Bowditch '61, $4,000 in cash and certain books and instruments, in accordance with the terms of his will; the books and pamphlets from the library of the late Professor Charles Robert Sanger, from Mrs. Sanger, for the library of the Chemical Laboratory; and from Count Francis Lutzow, a complete set of his English writings