overburdened with educational facilities in terms of existing need.
The remaining significant asset of the college, in addition to its tuition income, the college property and its endowment fund, is the Knoll Golf Club. The Knoll is a property of 322 acres, having two golf courses, two club houses, a swimming pool and a few residences. It was purchased by the college around the end of 1966 or early 1967 with the intention of using it for the establishment of an educational plant. The purchase price was $3,325,000 and was paid for by $900,000 cash, a bank loan of $300,000 and a mortgage of $2,125,000. The $900,000 was provided as a gift to the college by the Presbyterian Church out of monies raised as part of its Fifty Millioneconomic recovery leading the college at some future time to a firmer financial base from which to move into more speculative, more rewarding ventures of the kind now under consideration. While the program of development being investigated might eventually provide vast financial resources, they would not begin to benefit the college for many years during which it would presumably continue its penurious standards to the detriment of its standing as an educational institution.
Regardless, however, of what the future may offer, the sale of The Knoll as an available alternative to the abrogation of tenure is a viable one and fairly to be considered on the meritorious issues.
Also to be noted are the facts concerning the accreditation of the college by the Middle States Association of Colleges and Secondary