MASSACHUSETTS INSTITUTE OF TECHNOLOGY. 283 



a deficit of about $20,000. Of the current receipts, $207,000, or 59 per 

 cent, were from students' fees. Dividing the total expenditures by the 

 number of students, we find an expenditure of $314 per student, without 

 counting interest on the value of land and buildings, while the tuition 

 fee is $200. The invested funds of the Institute amount to but 

 $1,917,000. All gifts and legacies, with the exception of this amount, 



Henry S. Pritchett, President-Elect of the Massachusetts Institute of Technology. 



have had to go into land, buildings and equipment. Between 1888- and 

 1899 the Institute has been obliged to spend $350,000 for land, the 

 purchase of which has been a great burden, and within a few years a 

 further expenditure of $260,000 in this direction has been made. 



The bearing of these figures will perhaps be realized by comparing 

 them with similar figures regarding Cornell University, which is largely 

 a technical school, since nearly one half of its students pursue technical 



