Seventy Years Of The Worcester Polytechnic Institute: Page 176

installed. The equipment for the Mechanical Laboratories was also received and put in place. The unit that aroused the most interest was the 100,000-pound Emery testing machine, a giant in those days.

To casual observers the Institute's widespread building program might have denoted abundant prosperity. Charles G. Washburn, alert and vigorous treasurer, knew better. He embraced every opportunity to inform the Corporation about its slender resources and mounting deficits. The deficit for Dr. Mendenhall's first year was $5,500. The following year it was $2,000 greater, because construction costs had exceeded by that amount the grant from the State. Usually it was Stephen Salisbury who carried the deficits, although bank loans were resorted to on occasion.

Additional help came from the State in 1896, when an act was passed granting the Institute $3,000 a year, on condition that the number of state scholarships be increased from twenty to forty. In 1899 the trustees, headed by Mr. Salisbury, convinced the Legislature that the Institute was losing money on the free scholarships, and succeeded in having the annual grant expanded to $6,000. The year 1897-98 was the low point, with an academic deficit of nearly $12,000. Again it was Stephen Salisbury who quietly advanced $10,000 to help meet operating expenses.

Mr. Washburn was much disturbed by a drop in tuition income, stating in his report that this factor, "and the unsatisfactory condition of our finances, calls for immediate action on the part of the trustees." Enrollment had fallen from 250 in 1894 to 195 in 1897. The following year there was a marked gain, however, more tuitions, less expense. The deficit dropped to a mere $2,500. In the two succeeding years there was actually a small surplus, despite the fact that several thousand dollars were expended for equipment.

Gifts and bequests during Dr. Mendenhall's seven-year tenure did not substantially increase the endowment. The first bequest, received in 1898, was $10,000 from the estate

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Last Modified: Fri Jul 30 11:15:25 EDT 1999