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Education: College Horses

During the boom times, Butler University (enrollment: 1,414) at Indianapolis, Ind. did its athletes proud. It built a big stadium and an elaborate Butler Field House. Ruefully last week Butler's President Walter Scott Athearn took stock. University assets are some $6,000,000. Last year's deficit came to $7,000. Describing the athletic outlay as ''millstones about the neck of the school which bid fair to bankrupt and close [it] within five years." President Athearn declared that the day of intercollegiate athletic spectacles is gone, never to return. "Gate receipts,'' mourned he, "will not pay the...

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