Word: reynoldses
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Dates: during 1950-1959
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Reynolds added that the athletic department would not make the mistake of under-estimating its maintenance costs in the future. He does not expect the department to draw again from capital this year.
Another reason for the increased deficit, said Reynolds, were improvements made on the Stadium. The Stadium, which was the first ferro-concrete structure in this country, has long been in need of repair and its steel frame has needed reinforcing.
Reynolds said the department lost a comparatively small amount on guarantees to visiting teams.
Because of this, stated Reynolds, the Athletic Department accumulated a debt to the University, which is being paid in one lump sum out of its endowment capital.
Of the complete athletic deficit, the $318,000 absorbed by the Faculty of Arts and Sciences is considered a normal operational cost, Reynolds said. The money goes to finance intercollegiate and intramural sports and also to pay for the large freshman physical training program. The money withdrawn from endowment capital...