Excerpt from Wellesley College Bulletin: Annual Reports President and Treasurer 1927-1928 To the Board of Trustees: I have the honor to present my report for the year closing June 30, 1928. The full history of the year can be learned only by consulting the reports of the other administrative officers, including those of the Deans, the Librarian, the Chairman of the Committee on Graduate Instruction, and of the Treasurer. There have been various changes in the Board of Trustees during the year under review. The most significant of these is the resignation of the Treasurer of the College, Mr. Lewis Kennedy Morse, in January, 1928. The value set by the trustees upon the service of Mr. Morse as Treasurer is indicated by the following resolution adopted by the Board at their meeting on March 9: In accepting the resignation of the Treasurer of the College, Mr. Lewis Kennedy Morse, the trustees wish to place on record their deep appreciation of his service to the College. Mr. Morse was elected to the Board in November, 1912; he became Assistant Treasurer in May, 1913, and Treasurer January 1, 1914.During Mr. Morses term as Treasurer, the College has undertaken three campaigns for funds: the million-dollar fund for salary endowment, begun in 1913 and merged after the fire of March, 1914, with the Restoration Fund, amounting with the insurance award to nearly three million; the first phase of the Semi-Centennial Fund of $2, 700, 000, completed in June, 1921; and the later phase of the Semi-Centennial Fund still in progress, amounting on January 1, 1928, to $4, 553, 260. At the close of the fiscal year 1912-13, the Trust Funds of the College amounted to $1, 364, 677; on June 30, 1927, the Treasurers Report shows the Trust Funds to be $8, 520, 418, of which $5, 866, 874 is permanent endowment. With the assistance of the Finance Committee, the Treasurer has had the handling and investing of these funds. How ably Mr. Morse has accomplished his task is shown by the statement of the auditors that on December 31, 1927, the market value of the securities held by the College exceeded the book value by approximately $1,500,000. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.