RISE IN EXPENSES SHOWN IN REPORT FROM TREASURER

Operating expenses of the University for the twelve months ended June 30, 1932 were $14,111, 225,33, it was revealed yesterday in the report of Henry L. Shattuck '01, Treasurer of the University to the Board of Overseers. This figure shows an increase of $644,233.91 over the previous year.

Expenses were not by income from endowment funds and by gifts and receipts restricted to special purposes to the extent of $7,828,917.69. This figure does not include the general revenues of the dining halls and Faculty Club, athletics, the Medical School Heat and Power Plant, the Houses and dormitories, and other self-supporting activities. Tuition fees in all departments totalled $3,523,759.33.

On June 30, 1932, the book value of endowment funds, exclusive of land and buildings used for educational purposes, was $123,415,389.51, an increase of $6,211,139.17 over the previous year. A portion of the residuary bequest of the late Stuart Wyeth '84, and the receipt of a trust fund established by the late Nelson Robinson, were the principle items contributing to this increase.

A feature of the report in the drop in the expenses of the departments of athletics and physical education. This year these showed an expenditure of only $4,469,910.33, an increase of $225,899.23 over the outlay for the same departments the previous year.

The student scholarship loans, and prize funds have been depleted, by the recent depression. This department shows an increase of only $17,930.33