THE UNIVERSITY SENATE.

Press, Volume LIV, Issue 9668, 5 March 1897, Page 5

THE UNIVERSITY SENATE.

(PRESS ASSOCIATION TELEGRAM.) AUCKLAND, March 4. The University Senate resumed to-day. Dr. Fitchett, Prof. Gilroy and MrsE. __. Grossmann, were appointed Examiners for the Macmillan Brown Memorial Prize, to bo awarded in 1899. On the motion of Professor Cook the Senate resolved that German be allowed as an alternative for Physics, in the Bachelor of Music examination.

It was resolved to record W. F. Paterson as having passed in Chemistry and Physics in the Intermediate Medical Examination.

In the report of the Supervisors' Committee it was stated that the Committee heard rumours that the practice of cribbing or copying at the examinations was prevalent throughout the colony, but no evidence was adduced to bear out this statement.

[ The Finance Committee reported that the i income and expenditure for 1896 had both exceeded the estimates for last year. The income totalled £5708, and the expenditure £5441, the surplus being £257. The excess in the income was entirely due to an increase in the receipts from fees, which was evidence of the increasing scope of the University operations. For the current year the income was estimated at £5700 and the expenditure £5660. The accumulated capital of the scholarship account is £12,578. The Finance Committee recommended the Senate to offer for competition this year fourteen Junior Scholarships, each of £30 per year, tenable for three years, with an additional £20 per year for each of those holders of scholarships obliged to live away from their homes to attend a University College. The report was adopted. The Scholarship Account Committee submitted the following estimate of receipts and liabilities of scholarship account for the current year:—Receipts—Transfer from general account, £1500; interest, £723; total, £2223. Liabilities—Junior scholarships, ten at £40 and five at £30, gained December, 1894, £550; ten at £40 and five at £30, gained December, 1895, £550; ten at £40 and five at £30, gained December, 1896, £550; total, £1650. Senior scholarships—Seven gained November, 1896, £350—Total £2000. Estimated surplus, £223. Balance at credit of general account on January Ist, 1897, £2686, of which £1000 were invested in 6 per cent, debentures, £905 were in the hands of the agent in England, the sum of £700 was placed on fixed deposit, and the balance in the Bank and in hand was £81. The accumulated capital of the scholarship account amounted on January Ist, 1897, to £12,576, of which £10,000 were lent on mortgage at 6 per cent., £1550 lent on mortgage at 5_ per cent., £650 placed on fixed deposit at 4 per cent, and the balance in the Bank £476. The Bowen prize fund is placed in the Post Office Savings Bank, and the interest now obtained falls short of the value of the prize as fixed by statute. The Committee suggest that the Chancellor should endeavour to secure a more advantageous investment of tho'fund. They also recommend that the Bowen prize should be increased to not more than £10, and that it be offered biennially, so as to alternate with the Macmilian Brown prize. The report was adopted and the accounts for the year as audited were adopted.