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Richard, George (ed.) / Wisconsin alumnus
Volume 59, Number 2 (Oct. 1957)

Brittingham, Thomas E., Jr.
"Bold" investments pay off,   pp. [23]-26

Page 26

time. The Foundation made approxi-
mately 900% on each of these stocks
after rather substantial purchases.
   The trustees of WARF feel that it is
 important to set up a reserve against
 losses out of the accumulated profits
 which have been taken since the start,
 for each group of stocks, bonds and pre-
 ferreds. This makes it possible to deter-
 mine the income return on the original
 investment. The value of this practice
 cannot be over-emphasized. Since 1927,
 the funds of WARF show an accumula-
 tive $80,404  loss on  preferreds, a
 $159,085 gain in bonds, and a realized
 $29,048,000 profit and present market
 appreciation on a total of $8,749,000
 put into common stocks. Looking at each
 group as an investment division, how
 can the use of preferreds or bonds be
 justified ?
   Appeals for funds from our colleges
 and universities today are increasing in
 number and amount. Additional funds
 are needed, but just as important in
 these times is the prudent investment of
 existing funds. And is niot a prudent
 man one who is realistic under today's
 conditions ?
   The WARF experience suggests that
 the proportion of common stocks should
 Top Theatrical
 Season in Store
   Horizons broaden for student audi-
ences at the Wisconsin Union theater
when they have an opportunity to see at-
tractions brought from all parts of the
  Next season will bring music and
theater programs from Spain, Ireland,
England, Germany, as well as the
  Three ot the world's great virtuoso
players are included on the list: guitar-
ist Andres Segovia; 'cellist Antonio
Janigro who will play with his instru-
mental group, I Solisti di Zagreb; and
Louis Armstrong, whose artistry on the
trumpet is often obscured in this coun-
try by his fame as a showman-comedian.
      Philanthropic Investment
   For an increasing number of persons interested in Wiscon-
sin's welfare, the dynamic investment program of the Wiscon-
sin Alumni Research Foundation has assumed a very personal
meaning. They are the donor-investors who are participating in
the WARF Investment-Philanthropy program.
   WARF calls it a program in which one may "receive by giv-
ing", and it offers an unusual opportunity for philanthropy. The
gift provides an income for the life of one or two named bene-
ficiaries (one of these may be the donor); thereafter the gift
and its income will be used by the Foundation to promote scien-
tific research at the University.
  The WARF gift thus combines sound investment-which
often includes important tax savings-with the opportunity of
building a living memorial at the University. If you're inter-
ested, an inquiry to the Wisconsin Alumni Research Foundation
at Madison will bring complete details on the program.
be raised considerably in the investment
portfolios of educational institutions
generally. The soundness of WARF's in-
vestment policy should be obvious. In-
come has expanded, the value of the
fund has increased, and both continuity
of income and preservation of capital
have been assured by the large profit re-
   The Union Concert Series, now in its
 38th season will offer the "Solisti" from
 Zagreb, Yugoslavia, Nov. 5, 6; the
 beautiful German  soprano, Elisabeth
 Schwarzkopf, Nov. 22, 23: Italian basso,
 Cesare Siepi, Jan. 16, 17; young Ameri-
 can pianist, Gary Graffman, Feb. 13 and
 15; and the genial Spanish guitarist, An-
 dres Segovia, April 22, 23.
   After Armstrong's appearance in late
September, other music attractions sched-
uled are folk-singer, Pete Seeger, Oct.
23; the NBC Opera giving matinee and
evening performances of "Madame But-
terfly," and "La Traviata," Oct. 19; the
Minneapolis Symphony orchestra,
March 16.
  Road shows this season include "The
Rivalry," the new Norman Corwin
drama based on the Lincoln-Douglas de-
bates, which stars Raymond Massey, Ag-
nes Moorhead and Brian Donlevy, on
Nov. 7, 8; the Dublin Players in "Juno
serves now on hand. By recognizing in-
vestment opportunities made available
by the great number of fine American
companies which are moving forward
through excellent management and vig-
orous research, WARF, surprising as it
may seem, actually has been following a
conservative policy.
and the Paycock," Dec. 3; the Canadian
Players in "Othello" and "Man and Su-
perman" on Jan. 10, 11; and the Broad-
way comedy, "No Time for Sergeants"
with its New York cast on May 17, 18.
   Special events will offer the Welsh
actor-playwright, Emlyn Williams, read-
ing on Nov. 20 from the works of
Welsh poet Dylan Thomas, in "A Boy
Growing Up;" the English comedian,
Joyce Grenfell, and Jose Greco and his
company of Spanish dancers on Feb. 7.
  All these programs are sponsored by
the Wisconsin Union Theater and Mu-
sic committees. Mei-fei Rosholt, of Ro-
sholt, Wis. is student chairman of the
Theater committee, while Joel Skor-
nicka, Green Bay, is chairman of the
Music committee. Faculty advisor to
both groups is Union Theater director,
Fannie T. Taylor '38 assistant profes-
sor of social education.
  Wisconsin Alumnus, October, 1957

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