Calendar: 1951-1952 Page 427

OF THE COUNCIL vii Benefactions During the session under review the Council received with gratitude the Reverend Beaton's sixth gift of £15 to the Bursary Fund and legacy of £500 under the will of the late Mrs Gertrude Moriarty This latter gift was intended to commemorate her husband the late Louis Martin Moriarty Professor of French Language and Literature in this college 1885-89 by providing books for Theological students of slender means at the time of their leaving college The Council also received gratefully under the will of the late Dr Ο Oesterley the whole of his valuable library As result large number of the books were selected for the library at the Theo- logical Hostel and choice collection of Rabbinical books has been added to the Box Library By anonymous gifts the whole of the debt on the Chapel Improve- ment Account was wiped off during the year Thus the whole amount required for the improvement scheme £2 200 has been raised through the kindness of anonymous donors General It will be remembered that the 1948-49 Report was concerned almost exclusively with the serious and even dangerous state of the Council's iinances It is therefore the more pleasant to record that there are signs of recovery though the goal may still seem far to reach when the Reserve Fund shall stand again at the pre-war figure of £16 000 For this recovery the chief reason must be recorded with particular thankfulness The Church Commissioners having considered the appeal laid before them by the Council as described in the concluding section of last year's report decided to raise the annual grant to the Theological Department from £3 500 to £5 000 The additional grant involves the withdrawal of the £500 for bursaries and the annual grant of £125 towards the expenses of the Theological Hostel which is more than offset by the reduction of £200 in the ground rent payable to the Church Commissioners The benefit accruing to the Council's funds from this sympathetic generosity of the Commissioners is considerable On the basis of this additional grant the Council has been able to increase the salaries of some of the hardest-hit of its teaching staff and while the discrepancy remains in the remuneration of both Pro- fessors and Lecturers on the two sides of the College the Council is thankful to have been enabled to make some improvement in the financial position of its teachers Other items in the financial recovery are the adequate sum received from regular students in tuition fees the revenue accruing from occa- sional students of whom there are many both men and women and the fees received from the very interesting group of persons who attend the early-evening lectures delivered in the Michaelmas and Lent terms by the Dean Professor Tasker Mr Croydon and Mr Simon It should not be inferred that these evening lectures have the increase of revenue as their principal purpose it seems very desirable that