Part 1 - The Institute Libraries - Institute for Advanced Study

The Director had rerlly called on the Founders to urge them
to akhorize steps in the development of the staffs in uathemtica!
physics and economics. However, when they offered to finance the build-
ing, Plexner again found himself in the old conflict between men and
bricks, While he confided good news to Aydelotte, Mass and Riefler on
his progress for economics, there is in his letters no single ward about
the projected building. He did promise news when he net Aydelotte in
September. He also informed Mr. Yeass in time to plsn the first steps in
taking advantage of the Founders1 offer, which he announced proudly 2nd
gratefully at the October meeting. The news did not becm otherwise
known until the Director told the Trustees:
that the Founders wished to furnish the Institute w ith funds
necessary to erect our first building without drawkng upon
the c2 ital funds, on the incane of which the Institute
1 ives . r32
Meanwhile the housing plzn for the professors had been worked
out favorably with sor~ effort by the Director, Mr. Leidesdorf and Hr.
Maass. Prafessor Rieflerws plan had contemplsted subdivision by the In-
stitute of a plot lying betreen the west end of Bsttle Road and Mercer
Street into building lots, providing street, sewerage 2nd utilities. The
lots were to be leased for fifty years, renewable at the option of the
professor or his heirs. T ~ E Institute would supply funds to build the
homes, and take mortgages and notes at 43% to be arastfzed over twenty-five
years, the Institute to be safeguarded by life and fire insurance, etc.,
83
to cover the debt. After consideration by his Cmittee and the Execu-
tive C m i t Maass rccmnded approval by the Board. The rate ef
interest had been reduced to 42, ~ n d the lots would be sold r~ther than