Part 2 - The Institute Libraries - Institute for Advanced Study

etter placed just off Eyercer Street, rather than in the low-lying
meadms of Olden F an. This would entail the purchase of the Maxwell
prnpertp, which had a four hundred foot frontage on Yercer Street just
west of the prafesssrs~oosing lots. Dr. Flexner started the discus-
sion; he was willing to pay fsos the Institute's OWTI funds the $200,00,
asked by Mr. P-ell. The three men agreed to take the matter up in the
Finance Cmittee meeting of the 22nd Septenber, but Mr. Barnbergerfs
mod for5ad~,~~ For another demand was being oade on the capital of the
Institute at that time.
It will be recalled that Professor Veblen had suggested in 1932
tbat his and his wife's pertsions be insured to guarantee the amunt above
that expected from Teachers Insurance ,and Annuity Association. Flexner
had duly jnvestigated the cost, and probably reported it to the Board,
or at least to Fir. Bmberger whom he had informed of his inquiry. The
insuxance was not purchased, and no specific word indicates when the
decision was mde, or how it was received by Professor Veblen. Suffice
tt to say that when FEexner caused Veblen to sign his letter of the 1st
December, 1932, that insurance was rrentioned, but not as a cormnitment of the
Board. Now, however, with the Institute's modest capital strained by outlays
for Fuld Hall, and with grants to income instead of endowment promised
to meet the expense of the new appointments, the Pxofrssor began to feel
insecure, Therefore he arranged with Mr. Maass to submit a plan for
insuring his and Mrs. Veblents pensions sfrnilar to one the Institute had
approved and substituted for its cmitment to enable Weyf to purchase
protection for his wife. 70"