The Thresher (Houston, Tex.), Vol. 31, No. 23, Ed. 1 Thursday, May 3, 1945 Page: 4 of 4
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PALS Win Out
In Exciting Girl's
Baseball Game
By Larah Sane
Advisor to women (baseball players)
In Hermann Park, Monday, 20
April, the PALS beat the OWLS 16
to 11 in the first real game of the
girls' baseball season. Both teams
started out in top form, but were
unable to play consistent ball.
Although the score was not high
for girls' ball, it was due to the top
playing of Loose and Berwick, cap-
tains of the PALS and OWLS, re-
spectively, in the infield, and not to
the pitching staffs. Ann Martin
walked a dozen people and had no
real fast balls. H. B. had speed but
little control. Her form would never
have gotten by in a well-refereed
game, since no one could tell ex-
actly when she was going to throw
the ball as she walked around so
much in the box. Jean Mclhenny,
who came in to relieve her, pitched
the best ball of the game.
Ellen Picton, Ann Martin and
Fran Hawkins were the heavy hit-
ters, each scoring tlfee hits. Ber-
wick got the longest hit of the game,
a three-bagger that brought in two
runs. Hally Beth got three hits and
did some classy base stealing.
Both teams showed that they had
good material, and a little polish will
make them hard to beat. It looks
TRADITIONS—
(Continued from page 1)
■ ' ' ' ' .' . , V
as a new -member of the society. No
one was hurt except mothers with
pride in Junior's wavy hair and
profs with the desire to recognize
students.
The most noticeable feature in the
annual festivities of members in in-
troducing new proponents to the or-
ganization has been the tendency to
lessen the hardships to be endured
by such novices. Swallowing raw
oysters dipped in castor oil—a stand-
ard device even in high school clubs
—has replaced running through an
electrically charged bed springs. To
insure a safe and sane initiation,
those members of the faculty con-
cerned with the interests of the so-
ciety are invited to attend the pro-
ceedings.
Today we sadly mourn the passing
of a Rice tradition,- one that for
many years added the free collegi-
ate spirit to the cloisters and the
label of "freshman" to worthy stu-
dents. Perhaps it will prove to be
only a wartime shortage and will
return in full strength after the
war.
0
GROUP VOTES—
(Continued from page 1)
keen interest in the affairs and the
future of Rice Institute. The trus-
tees considered it advisable to have
this meeting to outline some of the
problems we face and to secure the
benefit of your views and sugges-
tions on certain points.
... . _vr>, ; Mr. William Marsh Rice estab-
like the EB s might just as well quit . . ,
! lished the institution approximately
now. T, ' .
; fifty years ago. It was his generous
If I abstain from fun and such,
I'll probably amount to much;
But I .shall stay the way I am,
Because I do not give a damn.
—Prunella Parker.
Ladies Ready to Wear
RECORD HITS
I Wish I Knew
The More I See You
—Harry James
A Friend of Yours
There's No You
—Tommy Dorsey
Good Night Soldier
A Tiny Little Voice
—Judy Canova
Piano Concerto in B Flat
-Freddy Martin
1201
Main
GOGGAN'S
PEYTON'S
LADIES' READY TO WEAR
1007 Westheimer
endowment that provided the foun-
dation for the school. The Institute
was dedicated in 1912 and has been
conducting classes now for approxi-
mately thirty-three years. Rice has
maintained uniformly high scholas-
tic standards throughout its history.
It occupies an important position in
the cultural life of Houston and
Texas and has established a reputa-
tion in the field of educational insti-
tutions. As trustees we are proud
of the achievements and present po-
sition of Rice Institute. The stand-
ards that have been maintained and
the reputation achieved by Rice In-
stitute reflect the character and good
work of its President and faculty,
and should be a matter of real satis-
faction to them.
As President of Rice since it was
organized, Dr. Lovett has had a
heavy responsibility in guiding the
Institute. The trustees are aware of,
and extremely grateful for, the fine
manner in which he has guided the
institution in its educational affairs
and the success which has been
achieved under his direction. The
selection of the faculty was one of
the major problems faced in the
early history of Rice. We consider
that the Institute has been extreme-
ly fortunate in securing the person-
nel that has served on its teaching
staff. Many of you have devoted
the major part of your lives to teach-
ing at Rice, and we appreciate the
contribution each member of the
faculty has made to the educational
standards.
The development of the Institute
has been handicapped during recent
years because of declining income,
attributable to lower rates of return
on investments. Up,until about 19.30,
the average return on the invest-
ments of the Institute was about 6
per cent per annum. This has been
materially reduced during the past
fifteen years until now the average
return is approximately 3V2 per-
cent. In order to offset the declining
rate of return, it has been necessary
for the Board to reinvest a portion
of the net income each year. Even
so, our net income recently has been
about $100,000.00 anually less than
it was fifteen years ago. This was
the major handicap to any program
of expanded activities or new con-
struction.
We are happy indeed to report to-
night that there is a little silver lin-
ing in the elouda, and that we
an improvement in income in the
near future. Within the past few
years there have tfeen three events
that changed the outlook. Follow-
ing the death of Mr. William M.
Rice, Jr., we learned that he had left
the bulk of his fortune to Rice In-
stitute, amounting to $2,000,000.00.
Part of this gift has already been
received, and the remainder will be
delivered to us in the near future.
The current income on this gift will
provide the Institute with an addi-
tional $100,000.00 annually, a por^
tion of which can be used for cur-
rent purposes. Another development
within the past year has been the
discovery of oil on some of the
properties owned 6y Rice Institute
in Louisiana. Rice will receive roy-
alties from this production amount-
ing to about $100,000.00 per annum.
A portion of this money must be
treated as a return of capital, but
some of it will be available for oper-
ating expenses.
Late in 1942 the Institute acquired
a 35 per cent interest in the Rincon
Oil Field, located in Starr County,
Texas. The consideration for the pur-
chase of the property was the pay-
ment of one million dollars in cash,
subject to a debt against the prop-
erty of about four and a half million
dollars and the agreement by the
Institute that the entire net proceeds
from the interest purchased would
be remitted to the banks until the
debt is paid. The Institute did not as-
sume responsibility for any part of
the debt. As a result of these pay-
ments since acquisition, the debt has
been reduced to about two million
dollars at the present time. / It is
estimated that it can be completely
paid vput within the next three years,
after which time the proceeds will
be available to Rice Institute.
Since the revenue will represent
in part a return of capital, some of
it must be set aside for reinvest-
ment, but a substantial part will be
available for current expenses and
to defray the cost of new construc-
tion. Sound business and accounting
practices warrant our treating as in-
come a part of the revenue equiva-
lent to fair return on the value of
the property. Competent appraisers
estimate that the property will have
a value, when the debt is liquidated,
of about $8,000,000.00 on the basis
of 3.5 per cent interest rate. At such
a rate of return, the income avail-
able after providing for mainten-
ance of capital will be in the order
of magnitude of $280,000.00. This
additional income is a measure of
the importance of the property to
the Institute.
You will realize from this brief
review that there are some bright
prospects ahead for Rice. While we
cannot make any commitments in ad-
vance, it appears to us at this time
that it may be possible to increase
the budget for educational purposes
by some 50 per cent above the level
of recent years. This will enable the
Board to do somethings that it has
wanted to, but has been unable to
carry out because of limited income.
More adequate compensation to the
faculty, an increase in faculty per-
sonnel, construction of new build-
ings, and other improvements are
all contemplated for the next ten-
year period. It is our earnest desire
and hope that Rice shall continue to
grow and expand over the next few
years ahead.
One of the important problems
facing the board of trustees is the
selection of a new President. As you
all know, Dr. Lovett submitted his
resignation some four years ago.
Fortunately for us, he promised to
carry on until his successor was
found and installed. The trustees
have made many efforts, in many
directions, to find the right person
for this important position, but have
thus far been unable to do so. Most
of the eligible men of the ability
and character we would like to se-
cure for president have been en-
gaged in war . work, and many of
them are serving in foreign coun
tries. This has made it difficult to
to be the beat available for the
place.
The selection of a President ia of
vital importance to the success of
the program contemplated. The ma-
jor qualifications the board has in
mind are-as follows:
1st. He must be a man of excel-
lent character, with an established
reputation.
2nd. He should have experience in
teaching, the ability to lead and in-
spire confidence, and the personality
to deal with people.
3rd. He should have a scientific
training, but with a sufficiently
broad background and attitude to
give appreciation 'to all of the needs
of a well-balanced educational pro-
gram.
All of you are familiar with the
fact that the Institute is dedicated
to the advancement of letters, sci-
ence and art. It is the purpose of
the trustees to continue the develop-
ment of this program. We believe
that the emphasis originally placed
on engineering and science is sound,
but that the work in liberal arts
must keep pace with the technical
branches. Sound training in the arts
and letters is essential in itself, for
the good of the community, as well
as for the development of a satis-
factory technical program. We are
hopeful of engaging a President who
will be alive to all the needs of the
Institute and carry forward the pro-
gram in an efficient and successful
manner.
While the selection of a President
is the responsibility of the board
it la of
Institute and to the faculty,
that we wish to have the benefit of
the views and
ulty. The board has
in terms of extending to the faculty
an invitation to select a temporary
committee of three of its
of their own choice to be
for consultation with the
We believe that such a u uuu *~
can be of assistance in analyzing the
qualifications of some of the men
that may be considered for the posi-
tion of president, and in furnishing
information about such men. We in-
tend to give full consideration to the
suggestions of the faculty in this
matter, although the responsibility
for the final choice must rest with
the board. This is a matter in which
the best advice and counsel of all
parties concerned needs to be taken
into account. We request, therefore,
that the faculty appoint a temporary
committee to be available for con-
sultation by the board in its consid-
eration of a new president.
(This is the committee consisting
of Dr. McKillop, Dr. Richter, and
Dr. Ryon.)
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The Thresher (Houston, Tex.), Vol. 31, No. 23, Ed. 1 Thursday, May 3, 1945, newspaper, May 3, 1945; Houston, Texas. (https://texashistory.unt.edu/ark:/67531/metapth230653/m1/4/: accessed June 20, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Rice University Woodson Research Center.