Word: perring
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Dates: during 1960-1969
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Toward a Million. The oil companies want bigger tankers because huge capacity makes it economical for their ships to bypass the blocked Suez Canal and lumber around the Cape of Good Hope to Europe or the Americas. The transport costs run to about 400 per bbl. in a 200,000-d.w.t. ship, compared with 520 in a 70,000-tonner. Each big ship can save a company about $1,000,000 a year in hauling costs...
...because during their period government contracted and funded research rose eight-fold to 55.4 million dollars. This cost Harvard virtually nothing but it makes the budget look much bigger and distorts how much costs have really risen. Delete this amount and the real (non-governmental) expenses increased by 122 per cent, not 200 per cent (from 43.2 million dollars to 96.0 million dollars...
...thirds that amount. Each year the Corporation votes to distribute to each of the funds participating in the general investments account (which means mostly the endowment funds) income from this account at a fixed rate of the book value of each fund. In 1966-67 this rate was 5.2 per cent and thus $34,000,000 was distributed, of which $30.5 million went to endowment funds and paid for 32 per cent of the University's expenses for the year. Meanwhile, $33.1 million was collected from student fees. Of course, the real rate of distribution was not nearly as high...
...market value of general investments in June, 1966 was $974 million. So the usable rate of return established by the Corporation was actually more like 3.5 per cent. Yet this figure doesn't even approach the return the Treasurer is really receiving on his investments. According to both Treasurer Bennett and President Pusey, Harvard's investments net about 10 per cent a year computed on their market value. This figure includes both dividends and interest and value appreciation on the market...
...total of 92 per cent of the freshmen got into one of their first four House choices this year, up from last year's 87 per cent. The 8 per cent who were left over this year were "arbitrarily assigned," Watson said...