Bannard Out

With all but $2,250,000 of the $20,000,000 Yale Endowment Fund raised, Chairman of the Yale Corporation Otto Tremont Bannard last week sent in his resignation. Said he, in the battered phraseology of President Coolidge: "I do not choose to run for the Yale Corporation in 1928." When he ran for Mayor of New York City against Justice William J. Gaynor in 1909, Mr. Bannard was described as "a wheel-horse."* Busy-body reporters trying to color his personality, inquired: "What is you favorite form of exercise?" The reply: "None. I tell you I'm the damnedest, most uninteresting man you ever met!" He is also, however, a onetime President of the New York Trust Co. When the Merchants' Trust was closed in 1905, he, as receiver, paid back every depositor with interest in four months. He served on the New York City Board of Education, because, like his classmate & good friend, President Emeritus Arthur Twining Hadley of Yale, he had long been identified with educational activity. For 18 years he has been a member of the Yale Corporation.

*A "wheel-horse" is faithful, hardworking, unpicturesque, seeking no glory for his labor, ever ready to perform tasks for the organization when others shirk.