February 24, 1932
President MacCracken reported to the alumnae association that the salary budget for the current year had been increased while the number of faculty members had remained the same. $53,000 had been added, bringing the total to $570,000. Pensions were maintained, and student aid increased by $36,500. Twenty-eight percent of the student body was receiving aid, and the total aid budget was $160,000.
"Dr. MacCracken praised the 'wise and careful management' which made possible the maintenance of policies based on 'liberal, ethical and economic principles.'" The New York Times