The announcement is made this morning of a gift of one hundred and twenty-five thousand dollars by Mr. Edmund Cogswell Converse of Boston to the Graduate School of Business Administration to establish a Professorship of Banking. This gift is most timely and promises an end to all doubts as to the future of the Business School. That department was established in 1908 with contributions of twenty-five thousand dollars a year for five years. This period ends in 1913. Adequate provision must be made for the endowment of the school. It is estimated that to continue permanently the present program of instruction, even on the most economical plan, will require an endowment yielding at least thirty thousand dollars a year. President Lowell says in his report that the School "has proved its value and deserves to be put on a permanent foundation." The gift of Mr. Converse leads us to expect that this hope will soon be fulfilled.
The School has grown steadily since it was established. More men each year are completing the two year course leading to the degree of Master of Business Administration (M.B.A.). Contact with business men is secured through trips to selected commercial and industrial establishments. During the four months between the two years of study, men are expected to be in regular employment with concerns in the business for which they are training. The instruction is given by a permanent staff of experienced and specially trained teachers. In addition, special lectures are invited for short periods to give expert information on special subjects. On the whole the School has shown that it does what it has described as its aim: the training of executives, by giving thorough and scientific training in the methods and principles of business organization and management.