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SAPIENTIA ET DOCTRINA STABILITAS

1902-03

At the April meeting of the Board 1902, the Report of the
Conference of the Board with the Committee of the
General Assembly, as to the proposed changes in the
Charter of the University, was read and considered.
And it was agreed to receive the Report of the Joint
Committee, to circulate it among the members, and to
defer the further consideration of it to a meeting of
the Trustees to be held in the autumn, at the time
of the special Convocation.

Again, as the financial condition of the University was
reviewed, the unwonted happened: there was a balance
on the right side of the ledger, not large indeed, but
gratifying, if only $5.38. But finances were not yet
wholly out of the woods. The old grant of $2,500 a year
from the Temporalities Board had ceased. The interest
from the University's share of the Century Fund would
not quite make up for this loss, and unless Congregations
largely augmented their contributions, the Theological
Faculty would fall short of its required revenue. And
although the fees were increasing from year to year,
the increment would no more than meet the shrinkage
of interest from investments. Next year there might be no
surplus.

The Alma Mater Society, having an option on the
Kingston Athletic Grounds, at a price of $3,800, asked