Budget Plan

Last week Massachusetts Institute of Technology announced a plan for guarding against possible future deficits. President Karl Taylor Compton said that this year's budget was balanced, but the M. I. T. faculty voted anyway to lay up a reserve as follows: Between next Dec. i and July 1, 1933, the staff will give up 10% of their salaries, with $500 exempt. If M. I. T. does not need all of this fund, it will be pro-rated back at the end of the period. The remainder of the reserve fund involves a much-discussed source of university income: the 50-50 split on money earned (generally in industrial research) by teachers outside the college. M. I. T. has been building up a fund from its split-fees for more than a year, to enable professors to take leaves of absence, increase their professional contacts, do extra research. Last week the professors voted to put this fund--or as much of it as is needed--at M. I. T.'s disposal in case a deficit looms.

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