One of the first new moves in the athletic program was the revival of
basketball as an intercollegiate sport. Mr. Swasey, an expert coach,
found a wealth of player material, and the game was a successful
innovation from the start. Tech won eight of its thirteen games in the
1918-19 season and laid the groundwork for building a championship
team. The track team was not immediately reorganized, but in the
spring of 1919, Tech joined with other small colleges to form the
Eastern Intercollegiate Athletic Association.
The effect of the war period on Institute finances was a matter of
major concern to the Trustees. Under the terms of the Government
contracts the Institute was to receive an allotment equivalent to the
regular tuition of each S. A. T. C. member plus allowances for
subsistence and quarters. Since the anticipated duration of training
was at least a full year, there was some difficulty in securing an
equitable adjustment to cover the Institute's loss of revenue due to
termination of the course at the end of two months. Dr. Hollis
announced that the War Department had made full recompense but that
the Navy Department was not inclined to meet any obligation for
anything but a per them payment covering the actual duration of the
course. The total S. A . T. C. income was about $56,000, of which
about $19,000 was paid for tuitions; the total expense of the
experiment was about $35,000. The surplus income only partially
compensated for tuition that might have been received if the college
had been operating on a normal basis.
The resources of the Institute were expanded somewhat during the war
period, and its floating debt was entirely liquidated, surplus
maintenance income in 1917 and 1918 having been used to repay bank
loans of $40,000. In addition to acquisitions of the Knowles, Sewall,
and Class of 1893 funds, there were various smaller increments added
to other existing funds. The business of the Washburn Shops had been
materially expanded during the war, and profits on this business
amounting to $50,000 were turned over to the
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