FOUR

THE MICH!rxXN DUEY

-Ir WII.'LI FIC DAY, MARCH 25,19M

a~a " aNas 1.T""

~WEDNESDAY, MARCH 25. 193G


THE MICHIGAN DAILY

Publisned every morning except Monday during the'
University yearand Summer Session by the Board In
Control of Student Publications.
MEMBER OF THE ASSOCIATED PRESS
The Associated Press is exclusively entitled to the use
for republication of all news dispatches credited to it or
not otherwise credited in this newspaper. All rights of
republication of all other matter herein also reserved.
Entered at the Post Office at Ann Arbor. Michigan as
second class mail matter.
Subscriptions during regular school year by carrier, $4.00;
by mail, $4.50.
Representatives: National Advertising Service, Inc., 420
Madison Ave., New York City; 400 N. Michigan Ave.,
Chicago, 111.

EDITORIAL DEPARTMENT

Telephone 4925

BOARD OF EDITORS
MANAGING EDITOR ..............THOMAS H. KLEENE
ASSOCIATE EDITOR...............THOMAS E. GROEHN
Dorothy S. Gies Josephine T. McLean William R. Reed
DEPARTMENTAL BOARDS
Publication Department: Thomas H. Kleene, Chairman;
Clin ton B. Conger, Robert Cuimmins, Richard G.I, 11r-
shey, Ralph W. Hurd, Fred Warner Neal.
Reportorial Department: Thomas E. Groehn, Chairman;
Elsie A. Pierce, Joseph S. Mattes.
Editorial Department: Arnold S. Daniels, Marshall D>.
Shulman.
Sports Department: William R. Reed, Chairman; George
Andros, Fred Btiesser, Raymond Goodman.
Wumen 's Departmeu : Josephine T. McLean, Chairman;
Josephine M. Cavanagh, loreJwe H. Davies, MarIon T.
Holden, Charlotte D. Riteger, Jiewel W. Wuerfel.

is a time in which cushion reserves do the economic
order much good. When income is high, that in-
come is going to be put into circulation whether
passed on to the stockholders or not. And when
income is low, the stockholder will be better off
with lower prices and no dividends than with high
prices and no dividends anyway.
'Only A
l ttle ,iaP
MERSON divided men into "know-
ers, doers and sayers," but he never
knew Toyohiko Kagawa.
He never knew the man whose "knowing" has
penetrated that most baffling of problems - the
sociological and economic application of Christian
ethics, whose "doing" in the slums of Kobe and
the cooperative movements which embrace nearly
half of the Japanese people has given crystallized
expression to his "knowing," whose "saying" has
produced more than 50 books of international cir-
culation.
This may seem extravagant praise to one who
calls himself "only a little Jap," but The Daily
invites an objective and personal "investigation"
of that praise during the visits and lectures of
Kagawa today, tomorrow and Friday in Ann Ar-
bor.
Also deserving of objective examination is Ka-
gawa's criticism of our American institutions.
Statements of his which express these views, such
as:
"I am surprised -you have as many as 260 de-
nominations (religious). I am told that I pro-
nounce this word to sound like 'damnations' and
I am not sorry that I do."
Cooperatives are the "base of a Christian eco-
nomic order."
'Churches have reduced the Gosel to a dotine.
'o me it, is a life.'
---are perspectives which should not be ignored in
viewing our economic and religious organizations.'
Kagawa will present views in his lectures which
may seem idealistic and not a little naive to sophis-
ticated Americans, but The Daily asks those who
hear him to bear in mind that following danger-
ously close to sophistication in the alphabet of his-
tory have been stagnation and sterility.
Amaon uiy AndI
Chil La>or . .
NDUSTRY BELLOWS at the
thought of government regulation
and control. It is, it will have you know, capable
of taking care of itself; and it is far better for
America's 120,000,000 that it has always done so.
Industry, if it is to have autonomy, must some
day justify its ability to take care of itself. A good
example is the shameless way it has handled child
labor. The NRA, a horrible thing, they said, de-
creased child labor considerably, but now that it
has been annulled, to date there are 58 per cent
more children 14 and 15 years of age working than
during' the NRA. Surely, industry cannot point
to this record as a reason that it should have the
right of self-control.
No doubt there are many manufacturers who
hate the idea of employing child labor, but, they
tell us, they have to because of their competitiors..
One way, then, is open to industry if they wish
to prove that at least in this respect they are
capable of caring for themselves. They can adoptN
President Roosevelt's suggestion that they organize
voluntarily and discriminate against employers of
child labor.
The opportunity will probably not long remain.d
The child labor amendment to the Constitutionn
has now been ratified by 24 states. Within two 1
years all state legislatures will have convened, anda
if the drive to pass this amendment is continuedt
with the enthusiasm that it now has, we will have
a law agains child labor before industry can prove
its right to take care of itself.

BUSINESS DEPARTMENT

Telephone 2-1214

BUSINESS MANAGER. ....GEORGE H. ATHERTON
CREDIT MANAGER. . .JOSEPH A. ROTHBARD
WOMEN'S BUSINESS MANAGER ... .MARGARET COWIE
WOMEN'S SERVICE MANAGER ... ELIZABETH SIMONDS
DEPARTMENTAL MANAGERS
&ocal Advertising, William Barndt; Service Department,
Willis Tomlinson; Contracts, Stanley Joffe; Accounts,
Edward Wohigemuth; Circulation and National Adver-
tising, John Park; Classified Advertising and Publica-
tionIH, Lyman Bittinan.
NIGHT EDITOR: ELSIE A. PIERCE

Corporation
Cushions .
CARRYING the prosaic physical an-
alogy of economic depressions and
rises one step farther, the House sub-committee
on taxation last week placed great stress upon
"cushion" reserves as a palliative factor in the
business cycle. Occasion for the concern over
cushion reserves was the drafting of a tax on
surplus corporation income in response to the
President's suggestions on increasing the Fed-
eral revenue.
At present, after some two weeks of hearings
and deliberation, the committee seems definitely to
favor a measure which would impose a 15 per
cent tax on the first 10 per cent of undistributed
income and would graduate upwards to 55 per. cent
on all surplus in excess of 30 per cent. In this
scaling down of rates as the fraction of surplus
retained decreases it is hoped that prosperous cor-
porations will find some slight encouragement to
build up or add to cash reserves put aside for hard
times and low income.
Apparently it has been the spectacle of large
companies spreading out their stockholders' in-
come into periods of depression that has instilled
this tenderness of "cushions" into the representa-
tives' minds. Also it is alleged that if corpora-
tions were not allowed to keep a portion of their
huge boom-time profits, distribution would have
an unhealthy lengthening effect upon prices
and speculative activity. Poor John Public, it is
feared, would be just so much more badly shorn;
but if U.S. Steel can keep some of its profits, he
will be pleasantly surprised, come depression divi-
dend time, by a respectable check.
Unfortunately, it doesn't always work out that
way. It's all very fine for a corporation to pile
up a nice cash surplus while business is booming;
but when red ink begins to appear on the ledgers
and trade journals editorially turn to Washington,
then that same surplus goes first of all to pay defi-
cits, secondly into contingency reserves, and third-
ly for buying new equipment with which to reduce
costs.
Glance over any newspaper's financial page.
Very few corporations are paying out in dividends
more than present income; notable exceptions oc-
cir chiefly among public utilities whose directors,
by virtue of monopolistic control, feel quite cer-
tain that earnings will sometime return to '28,
levels. Railroads, heavy capital goods industries,
building supply companies, farm machinery pur-
veyors and others hit by the depression are con-
spicuously absent today from the list of dividend
payers, no matter how great or small boom-time,
profits were.
Nor would forced distribution of such profits
while business was riding high necessarily accen-;
tuate the crest of the wave. The corporate purse,1
no less than the individual's, is easily accessible1
when optimism is rampant. Such conservative
companies as the Pennsylvania Railroad have,
been known to lay out scores of millions of dollars
from surplus not only on vast physical improve-
ment projects but also for the somewhat more,
speculative purpose of purchasing other railroads',
stock. The fact that a tremendous portion of
brokers' loans was financed from 1929 corporater
surpluses may in part explain the acuteness of the
stock market crisis; so great was the companies'
desire to regain their cash that many marginal
speculators were squeezed out.
In the case of most manufacturing corporations,
it would seem that the cushioning power of a large

1The Conning Tower~
MEDITATION IN LENT
IN THIS meditative
Season,
Lord, preserve our native
Reason.
Round and round are whirled
Our wits
With the frantic world
In fits.
Here and there, and near
And further,
Revolutions, fear,
And murther- -
Look at the hu-
Man race,
Father, please excu-
Se itsface.
These are not the mobile
Features
Of Thine erstwhile noble
Creatures.
At times it is our hab-
It to
 Go mad as the March rabb-.
Its do;
When battle, murder, sud-
Den death
Are rampant in our blood
And breath
And every man muii.>t don
A crown
To be a King upon
His own-.
If all beneath the sun
Were kings,
What would they use for un-
Derlings?
Unless lie ke t a ghoul
Or elf
Each king could only rule
Himself .
And we'd be as before
We were
Mad as a hatter or
A hare.
Lord, at this season and
This time,
Sustain our reason; and
Our rhyme.
Restore, O Lord, I pray,
The sense
Ofhono sometime sa-
Piens.
With all the human race
At large,
Please, God of Hosts, take us
In charge!
-G.A.
Washington, D. C.
The cessation of the elevator strike reminds us
of what partisan politicians say on registration
day. Both sides see victory in the figures. And
now this settling of the strike is a triplicate vic-
tory. The winners, according to the statements,
are the Realty Board, the union, and, of course,
the public.
As some of us trudged up and down stairways
during the past fortnight, we read Howell's "The
Rise of Silas Lapham." And Paul H. Gehser sug-
gests Mary Roberts Rinehart's "The Circular
Staircase" and "Two Flights Up."
Yesterday the New York Law Journal answered
the question of the ownership of a fallen meteor.
If last Saturday's had fallen on the ground, whom
would it have belonged to? The Supreme Court

of Iowa held that a meteorite falling on a person's
property becomes affixed to the soil, and there-
fore belongs to the owner of the land, that it was
title by occupancy, or taking possession of some-
thing that belonged to nobody. But that case in
Iowa is an old case (Goddard vs. Winchell). Now
whoever owns the property that a meteorite might
fall on would have to pay a gift tax.
So if the German delegates to London to discuss
with the L. of N. France's charge that Germany
violated the Locarno Treaty, this will probably
be the result. Germany didn't violate the treaty;
there was no treaty to violate, and, all right, she
did violate it, and what of it?
All this talk about "Class of '29"! That was Dr.
Oliver Wendell Holmes's class at Harvard, as it was
that of S. F. Smith, author of "America." It was
of him that Holmes wrote in "The Boys," "Fate
tried to conceal him by naming him Smith."
Books and plays have been written about Sher-
nan and Barnum - now history has proved the
correctness of the saying attributed to them.
Maybe General Hagood is at work on a book to
be called "John Howard Payne Was Right."
The one-day rest, or strike, or whatever it may
be called, of women workers is the notion of Miss
Charl Ormond Williams. But it is old stuff. The
Greeks had a play for it, called "Lysistrata."
Our own Admiral Porter would say, if he thought
of the peace-time appropriation for the Navy he
would be ruler of, "My gallant $549,591,299 crew,
good morning."

BOOKS
II.ALISM IN CONTELMPORAR XIIY
WOMLN WIUTERS
13y 1)OROTJIY S. IES
IDEALISM, that rara avis in the lit
erary thickets of today, seems to
find expression more frequently, fo
one reason or another, in the work
of women writers than of men. The
three women who have won the Nobe
award for literature, Selma Lagerlof
Grazia Deledda and Sigrid Undset
however widely variant their subjects
and styles, betray all three an intran-
sigent idealism and a tenacious at-
tachment to stable values,
Selma Lagerlof, growing up in the
atmosphere of Ibsen and Strindberg
remained utterly untouched by their
bitter and brutal idealism. Ever the
romanticist, she turns her artistry to
the beautiful mystical legends of the
Swedish province in which her child-
hood was spent. With winning charm
she recaptures that sense of the glam-
orous past, half idyllic, half tragic,
and always engrossing. But under-
neath fancy and narrative runs in-
variably a vein of stern idealism
and faith in perpetual moral values.
Even in her mad merry Story of Gosta
Berling, that playboy of the northern
world, half hero, half scamp, the note
of redemption and atonement is
struck in the end. In both her other
great novels, Jerusalem and The Em-
perer of Portugallia the deep spiri-
tual motive is likewise established.
The latter, a kind of Swedish Pere
Goriot, strikes the redemption note
even mon Pstrongly than her earlicr
works.
Grazia Deledda, unfortunately, is
little known to English readers. Her
novels of peasant life on the island
of Sardinia, written with a wild,
rugged. almost savage intensity, re-
volve chiefly around one theme: the
conflict of virtue and idealism against
the harsh realities of life. The prim-
itive characters take on a symbolic
and cosmic significance in their
struggle with universal passions. A
masterpiece in its stark simplicity
and fierce restraint is The Mother, the
tragedy of an old peasant woman
who has sacrificed everything to make
her only son a priest, only to see him
lost through an earthly attachment.
The recurrent motif of sin and retri-
bution and Mme. Deledda's ultimate
faith in the good, the beautiful, the
true, stamps her novels too as in-
trinsically idealistic.
Sigrid Undset, the most epic figure
of the trio, is also the most uncom-
promising moralist. She is more
truly twentieth-century than either
Lagerlof or Deledda, in considering
sex the basic impulse and problem in
life. But while all experience is con-
ditioned by physical passion, and all
her chief characters are victims of
sensual love, her conception of mor-
ality is nineteenth-century in its
stringent unswerving rigidity. In
both her greatest novels, Kristin La-
ransdatter and The Master of Hest-
viken, the violation of moral law is a
crime only to be atoned through bitter
repentant suffering. Hers is an or-
thodox, even intolerant conception
of good and evil, and the essential
values she establishes are spiritual
and religious, no doubt reflecting her
own conversion to Roman Catholi-
cism.
It is interesting to note that in a
materialist world, where the old moral
order is apparently in chaos, in a
world of Huxley and Pirandello and
Hemingway and Gide, the foremost
women writers remain almost unex-
ceptionally idealistic and continue to
declare for stable and timeless spir-
itual values.
Ten Years Aof

From The Daily Files
Of March 25, 1926
After hearing and discussing the
report on engineering students at
the time of entrance to college given
yesterday afternoon by Prof. W. C.
Hoad of the civil engineering depart-
merit, the faculty of the engineering
college agreed to take steps toward
giving the high school students a
more accurate view of the engineer-
ing profession, and to modify the
freshman assembly to obtain greater
vocational and cultural advantages.
Buying up hoarded gold in France
is a pursuit that can be compared to
the bootleggers' industry in America.
It is not so wide-spread but it has
corresponding results. How much
gold is hidden away, nobody can say
exactly, but it is generally placed
at over one and under two billion
gold francs.
Germany will probably hold a na-
tional plebiscite to decide whether
the Reich and its component states
shall confiscate without compensa-
tion the property of the former rul-
ing house.
Belief that the grippe epidemic is
now in its last stages was expressed
yesterday at the Health Service.
The problem of the World War's
heritage of inter-allied debts was giv-

WEDNESDAY, MARCH 25, 1936
Vol. XLVI No. 123
Notices
r Senior Aeronautical E'ngineers
There is an opening on the Aeronauti-
cal Engineering staff of a mid-west.
l ern university for an instructor' in
thermodynamics and internal com-
bustion engines. Students interestec
in obtaining more information aboul
the matter should see Prof. M. J
Thompson, B-302, East Engineering
Bldg.
Senior Women may get tickets foi
J.G.P. and Senior Supper in the Un-
dergrduate Offices of the League or
Monday, Tuesday, Wednesday an
Thursday, from 3:30 to 5:30. The
price is 65 cents, and includes dinnei
and the play. Dormitories and sor-
orities are urged to buy blocks of
tickets. No reservations will be held
longer than 24 hours.
Senior Women: No one will be ad-
mitted to the Senior Banquet and
Play without cap and gown. There
are still a few available at the League.
They may be obtained from Miss Mc-
Cormi ck-
A adeimic Notices
IHistory 12 (Lecture 1) Wednesday,
March 25, at 8 p.m., Mr. Long's and
Mr. Slosson's sections will meet in
1025 ATL and all other sections will
meei i a N S. A d.
Elconomics 52: lRooms for the blue-
book on Thursday at 2 o'clock are as
follows: N.A.Aud., Danhof and An-
derson's sections. 25 A.H., Hebbard
and Church's sections. 35 A.H., Mil-
ler's sections. 231 A.11,, Wiers' see-
ti ons
Lectures
University Lecture: Prof. Rudolf
Carnap, of Prague, will lecture (in
English) on "Philosophy and Logical
Analysis," Thursday, April 2, at 4:15
p.m., in the Natural Science Audi-
torium. The public is cordially in-
vited.
Chemistry Lecture: Dr. R. G. W.
Norrish, F.R.S., of Cambridge Uni-
versity will lecture on the topic: "Re-
cent Studies in ,the Kinetics of the
Combustion of Aldehydes and Hy-
drocarbons" on Monday, March 30,
4:15 p.m., Room 303, Chemistry Bldg.
The lecture, which is under the aus-
pices of the University and the Ameri-
can Chemical Society, is open to the
public.
French Lecture: Professor Marc
Denkinger will give the last lecture
on the Cercle Francais program:
"Jules Romains et les Hommes de
Bonne Volonte." Wednesday, March
25, 4:15 p.m., Room 103, Romance
Language Building.
Events Of Today
Chemical and Metallurgical Engi-
neering Seminar. Mr. J. A. Hannum
will be the speaker at the Seminar
for graduate students at 4 o'clock in
Room 3201 E. Engineering Building
on the subject, "The Photo-Catalytic
Decomposition of Nitro-Cellolose Lac-
quers."
Student Branch-Institute of the
Aeronautical Sciences: A business
meeting will be held in Room 1042,
East Engineering Bldg., at 7:30 p.m.
Discussions, election of officers, and
election of new members, will take
place at this initial meeting. All
Aeronautical Engineering students
not already members of the Institute
are urged to attend.
Transportation Club meets in the
Union at 7:45 p.m. Report of Chica-
go trip and discussion of Ford trip.
Alpha Nu meets at 7:30 p.m. in the
chapter room. It is important that
all members are present at this meet-

ing. Visitors are welcome at this or
any other meeting and there will be
an opportunity for any who wish to
give tryout speeches to do so.
Kappa Tau Alpha: Important
meeting, Room 213 Haven Hall, 4:30
p.m.

The
hold a
ander
p.m.

Harris flall: Celebration of the
Holy Communion at 7:30 a.m, in
the Chapel at HTarris Hall.
St. Andrew's Church: There will be
a service of worship in the church
this evening at 7:30. The Reverend
Frederick W. Leech is in charge of the
service.
Coining Events
Applied Mechanics Colloquium: Mr.
D. K. Kazarinoff will speak on "Finite
Differcnces and Numerical Summa-
tion of Series." Review of Litera-
ture. Meeting in Room 314 W. Engi-
neering Annex on Thursday, March
26, 4:00 p.m. All interested are cor-
dially invited to attend.
Psychology Journal Club will meet
on Thursday, March 26, 7:30 p.m., in
Room 3126 N.S. Professor Maier will
discuss Koffka's recent book on Ges-
talt Psychology.
Weekly Reading flour: Prof. Clar-
ence D. Thorpe, of the English De-
partment, will read from the poetry
of ,JohnKeats at the Weekly Read-
ing Hour on Thursday, March 26,
at 4 o'clock, Room 205 Mason Hall.
All persons interested are cordially
invited to attend.
Harris Hall: On Thursday there
will be the Student Starvation Lun-
cheon in Harris Hall from 12 noon to
1 o'clock. All students and their
friends are cordially invited. The
proceeds will go to the Rector's Dis-
cretionary Fund for students.
Drama Section of the Michigan
Dames regular monthly meeting
Thursday, March 26, at 8 p.m. at
the League. The play to be read is
"First Lady" now playing on Broad-
way starring Jane Cowles. Mrs. A.
Sidney Hyde is in charge of the meet-
i'g.
Presbyterian students and their
friends are invited to attend the
Sylvan Estates party of the West-
minster Guild Saturday afternoon
and evening. The truck will leave
from the Masonic Temple at 1:30 p.m.
Football, baseball, monopoly or swim-
ming will be the entertainment for
the afternoon. There will be a spe-
cially arranged dinner at about 6.
Dancing will be enjoyed during the
evening. Costs for transportation,
dinner, and dancing will be about 85
cents. Make your reservations by
Wednesday night by calling 6005 or
4329.
Maj.-Gen. Smedley 1). Butler (U. S.
Marines retired) will speak on "War
is a Racket"; Thursday, March 26,
8:15 p.m., Hill Auditorium. Auspices,
Student Alliance.
Action of the Executive Commit-
tee of the Interfraternity Council of
the University of Michigan, Tuesday,

DAILY OFFICIAL BULLETIN
Publication to the Aill tln i.s construtve notice to all memberstof the
~iflvcrr~lty. Copy tvct lvo l att(the uMlce of the Assistant o the Pre..dent
aut.Li3.30; 1 ii;OU.111, on :utunlday.

.'"

Luncheon for Graduate Students at
12 o'clock in the Russian Tea Room of
the Michigan League Bldg. Prof.
Howard McClusky, of the School of
Education, will speak informally on
"Modifying Personality Through Cur-
riculum."
Varsity Glee Club: Full rehearsal
at 7:15 p.m. No rehearsal Thursday.
Contemporary: Luncheon meeting
this noon at the Haunted Tavern.
Board in Control of Student Pub-
lications: There will be a meeting of
the Board with the 'Ensian business
and editorial staffs in the Union at 6
p.m.
Hillel Players: Final tryouts for the
program of one-act plays will be held
at Hillel Foundatiop, from 3 to 5 and
7:30 to 9 p.m. Those who were not
present at the tryouts last week are
urged to come Wednesday.
Student Alliance meets at 7:30 p.n.,
Room 306, Union. Members and
friends are invited to attend.

Faculty Women's Club will
tea at the home of Mrs. Alex-
Ruthven from 3:30 to 5:30

I

TH lE FORUM
Letters published in this column should not be
construed as expressing the editorial opinion of The
Daily. Anonymous contributions will be disregarded.
The names of communicants will, however, be regarded
as confidential upon request. Contributors are asked
to be brief, the editors reserving the right to condense
all letters of over 300 words and to accept or reject
letters upon the criteria of general editorial imuortance
a ld interestL tho me campus.
Floods
To the Editor:
The flood catastrophe has brought to mind my
visit to the great spillway which protects the Pan-
ama Canal from floods. The Spillway, located at
the edge of Gatun Lake, drains the lake of high
water in the rainy season. Gatun Lake is a part
of the Panama Canal. The Spillway opens its
great gates and takes the flood waters off in a
diverting channel.
The United States protects its investments from
destructive ravages, not only for its own good but to
satisfy the international bankers as it is banker-
owned. The present flood in some parts of the
East is compared to the flood of forty-seven years
ago in that area. But the investments of the vic-
tims of the present flood are much larger, due
to the growth of the country. One report states
out of five million dollars lost in one section there
was only two hundred-fifty thousand dollars re-
covered through insurance.
It seems a coincidence as well as remarkable that
we have a man as President of the United States
who was interested in protecting the investments
of the citizens from the destructive elements even
before the major catastrophies of the 1934 drought
and the 1936 flood. Before President Roosevelt
came into office he was interested in improving the'
conditions of the country west of the Mississippi
and he has consistently applied this policy, not to
any one section but to the country as a whole.
-F.S.G., '00.

d
F
9
t:
I:
t
0
p
I
f;
M
v
b
ti
d'
cS

4

Stanley Chorus meets at the Union 'March 24, 1936.
tonight. First sopranos and altos Because of certain Hell-week prac-
meet at 7:15. Second sopranos meet tices at the Beta Theta Pi fraternity
at 8 o'clock. All members are urged which are contrary to the best in-
to be prompt. terests of Michigan fraternities as a
group, the Executive Committee of
Pi Lambda Theta meeting in the the Interfraternity Council, a4 a
League at 7:30 p.m. Mrs. Bernadine meeting held Tuesday afternoon,
Sether, a fashion artist, will speak. Continued on Pgge 6)
Impression Off '38M Corrected

L AST Tuesday, in a letter to the
J editor concerning the anniversary
celebration of the University of Heid-
elberg, Mr. '38M made several errors
which should be corrected.
Firstly, June 27-30, 1936 is not the
550th anniversary of the German
school, but rather (as we stated on
the first page March 14) the 549th.
The following is a quotation from!

a jubilee--a custom of Hebrew origin
-three choices were open. (a) Oc-
tober 23, 1935, or near date, being
the 550th anniversary of the issuing
of the charter; (b) October 19, 1936,
or near date, being the opening of
the 550th academic year; (c) June,
1937, or near date, being the end of
the session 1936-37, and the comple-
tion of the 550th academic year.

I