136 History of Wake Forest College
fees, it was $19,423.73 additional, making a total of $259,959.43.
Though the figures for 1904-05 and 1926-27 are not strictly parallel
they indicate the increase of the income in that time.
The following from the Annual Report of the Treasurer and the
Bursar for June, 1927, shows the nature of the growth of the
endowment: "The permanent funds of the College show an increase of
$106,808.79. That amount includes a stock dividend of $75,200 from
the Vacuum Oil Company, a Standard Oil Company subsidiary. It
includes also $21,896.90 from the General Education Board of New
York, completing the Board's gift of $100,000 under its conditional
agreement No. 255. The rest of the increase is accounted for by
smaller gifts and transfers."
After the close of President Poteat's administration the endowment
was not increased by receipts from the 75 Million Campaign. The
Treasurer's reports for the five years 1921, 1922, 1923, 1924, 1925,
show that a total of $104,374.03 was added to the endowment from
contributions made in this campaign, of which $25,000 is credited to
G. W. Albritton. To this amount, according to the report for 1931,
there was added to the endowment that year $38,906.60, the cost of
construction of the faculty houses, built some years before from the
Campaign funds. This makes a total put in the endowment from this
fund of $143,280.63. In addition the endowment was increased by the
pro rata share paid by the General Education Board, which according
to the statement above was $100,000. This makes the total
endowment additions on account of the 75 Million Campaign,
$243,280.63. The statement that this amount was "more than
$100,000" in the college catalogues for 1940-41 and the years
preceding is misleading.
The Treasurer's report of 1925 shows a total from the 75 Million
Campaign of $458,398.18. Since only $143,280.63 was put in the
endowment, a balance of $315,117.55 was spent for other purposes in
the five years, in which the collections were made. According to the
Treasurer's report for 1925 these were debts, $82,903.51; Chemical
Laboratory addition, $11,419.68; Bryan Spivey Bazemore Memorial
Fund, $500.00; alterations,
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