Oberlin College - Hi-O-Hi Yearbook (Oberlin, OH)

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c57QZQ I-51 If CD fI I I 192,94 5 7 Uhr Greater Gbhrrlin OR ninety years Oberlin alumni throughout the world have been known for their aggressive idealism. All of us under- mtl ig, co-education, in the mission fields, in temperance, in civic affairs, in child welfare movements, in prison reforms, in every branch of social or public service these men and . women have been characterized by their practical and ener- getic application of the Christian ideals inculcated in them at Oberlin. Now, these sons and daughters in every state and every country, are turning toward the Alma Mater to apply their experienceand these ideals to a great forward movement to perpetuate the ideals, standards,,and traditions of yesterday's Oberlin by building a solid financial foundation under'the Oberlin of tomorrow. ff 'Kia' 1 -S. wnxwvrU:,,, , pp -'rt graduates 1n Oberl1n today are proud of their record. In 1 1 1 I In the fall of 1923 the alumni of Oberlin are to undertake one of the most important enterprises in the history of the College. After many months of study of the financial needs of Oberlin, the trustees have de- termined that Oberlin must add a minimum of 34,500,000 to its resources if the College is to continue its present service unhandicapped. They have turned to these to whom the College is most dear to help in solving Oberlin's financial problems. In answer, former students of Oberlin from Maine to California have already started to mobilize for a great campaign to raise this sum, N WHY .OBERLIN NEEDS MORE MONEY I To persons who have not been in active touch with the financial situation at Oberlin, since the war, the fact that our College needs finan- cial assistance at this time may seem surprising. In 1914 Oberlin be- came a beneficiary under the will of the late Charles M. Hall. At that time it was believed that Mr. Hall's generous consideration for his Alma Mater would amply supply the needs of Oberlin for a number of years. The inherited property, which according to the terms of the will does not come under the controlftof the College for fifteen years, was chiefly in the form of aluminum stocks conservatively valued at 33,500,000 for College endowment. Prior to 1920 this legacy provided an income of 3194,500 a year. This splendid annual addition to the income made it possible for Oberlin to raise' the faculty salary scale more nearly to the level of that of other first+class colleges, 0117 Y f .nbnnngfvnrlfzrvifzr I QQX5 fill 'L Q 2 K 'Y M Y! PN W M W K N M W N Y N W M 1 W 'Vx if bf M X4 Vx if VN N4 Q1 .-K7'l7Z17'A.7,!Yl7

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5754.2 11 1? CD f1'if I 1Q2,f+ In 1920, however, business reverses reduced the income-producing value of this gift from 33,500,000 to 32,700,000 During the year 1921- 22 its value was further reduced to 31,680,000, a reduction of nearly 32,000,000 from what was believed to be the minimum value of the new endowment. In other Words, the income from the Hall Estate last year was approximately 3110,000 less than the lowest amount of income which the College expected from this source at the time salary increases were granted. When this serious loss struck Oberlin the trustees kept the College on its feet by doing four. things, they doubled the tuition fee, increased the number of students admitted, secured emergency gifts from educa- tional boards and generous friends and lifted 365,000 bodily out of the already exceptionally economical budget. With all these efforts and even on the present limited scale of operation, the College has been unable to avoid a deficit every year but one since 1917. Now the time has come when it is imperative for Oberlin permanently to replace her income losses. just now Oberlin iinds itself in an even worse financial predicament than scores of other colleges forced to raise endowment funds, to meet the post-war requirements, for as in other colleges, the dollar-value of her income has fallen off, and on top of that, since 1920, there has been an actual shrinkage corresponding to a loss of 32,000,000 of Oberlinis endowment resources! While it is hoped that some day the income from the Hall Estate will resume its normal proportions, it is essential that the College repair its endowment income losses at this time. Practically 32,000,000 is needed for new endowment to maintain without deficit and without ex- pansion, the normal work of the College, Oberlin must raise money this year and rely upon the Hall legacy or future gifts from other sources to take care for the natural development of the institution a decade hence. Oberlin's building program has been held up since before the war. At least 32,000,000 more should be supplied to care for the most immedi- ate building requirements of the College. While this sum will not begin to build all of the buildings that Oberlin needs, it must go as far as possi- ble toward providing a modern recitation building, a physical laboratory, a college hospital, a woman's gymnasium, an addition to the greatly over- crowded library building, new dormitories, especially for the men, and the new theological buildings so long needed. Oberlin's Conservatory of Music is recognized as one of the foremost in the country. A minimum of 3400,000 should be obtained to provide a permanent endowment to Ufjj ,M I'131 XX' Af