he numerous
funds left for various designated purposes and administered by the
University.

The various memorials left by the graduating classes should not be
forgotten in this connection, though some of them, owing to poor
judgment, have been ill-adapted to the purposes they were intended to
serve and have more or less mysteriously disappeared. Perhaps the best
known example was the ill-fated statue of Ben Franklin, long a Campus
landmark, left by the class of '70. Early in his academic course he
became the victim of the paint-buckets of successive classes, and
eventually his outlines became so blurred that he was perforce retired.
Aside from the tree-planting efforts of '58, the first class memorial
was the reproduction of the Laocooen group, now in Alumni Memorial Hall,
presented by '59. Reproductions of painting and sculpture were for many
years the favored forms of class memorials, of which the most unique and
valuable was the complete set of casts from the arch of Trajan at
Beneventum, presented by '96. In recent years many classes have left
portraits of members of the various Faculties, while others have left
loan funds which have been of inestimable service to many worthy but
impecunious students.

The University chimes, a peal of five bells, presented by James J.
Hagerman, '61, Edward C. Hegeler, and Andrew D. White, must not be
forgotten. They are now in the tower of the Engineering Shops, whence
they were removed when the old Library was torn down.

Perhaps the most far-reaching in its effects was the fund left by 1916.
This was accompanied by a recommendation to the General Alumni
Association that an alumni fund be created of which their contribution
was to be the nucleus. The Association took measures to act upon this
suggestion, but owing to the war and the preoccupation of the alumni in
the Union, its establishment was delayed for several years. The plan for
this fund, as finally approved in 1920, provides for an incorporated
board of nine directors, the first members of which were appointed by
the Board of Directors of the Alumni Association. This project, while
still in its formative stage, has great possibilities for the future of
the University, judged by the success of similar funds in other
institutions. This is particularly true at Yale, where the alumni fund
amounts to nearly $2,000,000 in addition to some $1,500,000 given for
various purposes.

There are obvious advantages in thus organizing