Repository: UIHistories Project: Book - 16 Years (Edmund James) [PAGE 42]

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The Income of the University

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For two years, 1912-13 and 1913-14, the Northwestern Terra Cotta Company of Chicago offered a prize of $50 to be awarded in a competition in architectural design involving the decorative use of terra cotta. Beginning with the class of 1915, the American Institute of Architects has offered a medal annually to the senior in the department of architecture whose development during the four years' course is the most consistent and best. The Scarab Society of the department of architecture has offered a bronze medal annually since 1915 to be awarded during the second semester to a student in architecture for the best solution of a problem in architectural design. The sum of $50 was received by the University in 1916 as a gift from Division One of the Ancient Order of Siberians, to be awarded as a prize for the best essay written by an undergraduate or graduate student in the University on a subject connected with ancient Irish literature, history or archeology. It is hoped by the donors that a fund of $1000 may be established, from the interest of which the prize may be made permanent. At various times sums of money have been donated to the University for the purpose of establishing annual scholarships. In 1902 Professor B. L. Rea of the College of Medicine bequeathed $5,000 to the College for the establishment of four scholarships for the aid of needy students. The net amount received by the College after the payment of the inheritance tax and other fees was $4,800. This sum has been invested in mortgage bonds, the income from which is received by four students annually. The Northwestern Branch of the Woman's Foreign Missionary Society of the Methodist Episcopal Church paid over to the College of Medicine in 1902 the sum of $2,000 for the establishment of two scholarships. In return the college agreed to allow the Society to appoint one student to each scholarship so long as the College continued to provide complete education for women. In case this condition should at any time cease to be maintained, the sum given was to be returned to the Society. Students appointed to these scholarships are exempt from the payment of tuition and similar fees.