Education: Windfalls & Weather

With reason, most U.S. colleges complain about the stormy financial weather they see ahead. Nevertheless, last week a few windfalls blew in: ¶ Massachusetts Institute of Technology received $5,100,000 from alumni. Biggest gift: $1,000,000 from General Motors Board Chairman Alfred P. Sloan Jr., class of '95, for a new metals-processing laboratory.

¶ Oilman Walter C. Teagle, '00, gave Cornell University $1,500,000 for a men's sports building.

¶ John D. Rockefeller Jr., Brown '97, gave $5,000,000 to Harvard for a new Business School classroom building with a string attached: other donors must match his gift by July 1950. ¶ The Old Dominion...

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