February 13, 2018
A Warm Welcome to the Wiewel Family
Superb issue on the arrival of our new L&C president, Wim Wiewel! I loved that we learned a few things about his wife, Alice, and family, as well. Very well done. Can’t wait to see how the future unfolds.
Betsy Ford BS ’70
In Today’s Dollars…
I just finished devouring the fall Chronicle, which is a definite “keeper,” given the two major milestone articles: 1) the new president, and 2) the college’s 150th anniversary.
With regard to the latter story, the text and vintage images were absolutely riveting for me to read and view. I offer this follow-up:
Fir Acres Property Construction Cost:
The article says that Lloyd Frank spent $1.3 million in 1925 to create the Fir Acres estate. According to the CPI [Consumer Price Index] Inflation Calculator, this converts to $18 million in today’s dollars.
Fir Acres Purchase Price:
In 1952, the seller said, “I’ll take $46,000 cash” in order to remove Fir Acres from the tax rolls. FYI, this converts to $723,000 in today’s dollars.
In 1942, when Morgan Odell assumed the position of L&C president, the endowment was $270,000, which converts to $4.2 million in today’s dollars.
Bravo to you and the entire Chronicle staff.
Doug Foran BA ’75