HARVARD IS A CAREFUL SPENDER SAYS LOWELL

At a recent luncheon held in Boston for the class agents of the Harvard Fund, President Lowell declared, in thanking the Class Agents for the work they have done, that Harvard is a careful spender and spends always with a margin left over for two purposes: First to under take new work as it arises, and secondly, for times of adversity. H. L. Shattuck '01, Treasurer of the University said that the Harvard Fund provides most of the totally aurestricted money available to the College and the Graduate Schools.

The fund, which is the only major Alumni Fund which increased its givers last year, had 6,387 contributors as against 6,067 in 1930. However, the aggregate amount contributed decreased from $162,000 to $127,000.