UNIVERSITY FUNDS.

Otago Daily Times, Issue 20190, 30 August 1927, Page 8

UNIVERSITY FUNDS.

THE EXAMPLE OF OTAGO. ' FINE RECORD OF BENEFACTIONS. ; Special to Daily Times.) , , CHRISTCHURCH, August 29, Emulation of the example of Otago University in the matter of obtaining benefactions was advocated on behalf of Canterbury College by Mr L. B. Wood at a meeting of the Canterbury College Board of Governors this afternoon. The advice was given while discussing a proposal to establish a “ Canterbury College Fund ” under a scheme prepared by the, chairman contained in the annual report of the board. This particular scheme is modelled on the system of benefactions reigning in the large American - universities where money is raised by thousands of pounds, f Characteristics of the scheme are (1) It exists in perpetuity; (2) donations may be made annually; (3) no donation is too: small; (4) no restriction should be made on moneys collected. “ I do regard the proposal as likely to be an unqualified success,” was Mr Wood’s comment on the scheme. ■ He said he thought the chairman would have used an example-nearer home.' “The Otago benefactions are remarkable,’.’ continued Mr Wood. The sum of £21,000 had been raised by contributions of £IOO or more, while £130,000 had been subscribed for the endowment of professorships, laboratories, and material, in addition to funds of £25,000 for buildings, £13,000 for scholarships, and £BSOO for special research. “This is the secret of Otago’s success.” continued Mr Wood. “ She has never failed to enlist in hei; service the best brains that the province offers. Her chancellors had been of outstanding ability, men who seldom failed to stimulate the springs of benevolence whenever the question of raising funds for the University came up.” *