People, Feb. 17, 1936

"Names make news." names made this news:

Petitioning a California court for permission to invest part of its endowment in common stocks, Stanford University introduced as a witness Trustee Herbert Hoover. At a San Jose hearing Trustee Hoover testified: "The trustees of Stanford University . . . are now confronted with a grave problem. . . . For 50 years much prudence and wisdom have caused the trustees to invest the endowment, now amounting to some $24,000,000, in seasoned bonds and first mortgages. . . . The devaluation of the dollar, the widespread bank credit inflation and the possible menace of currency...

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