The Board announces that most of  the 10-year goals adopted in 1945 are complete -- 5 years ahead of schedule. The Board votes to expand; 7 trustees will continue to hold legal ownership of the Institute, and 8 non-voting term governors will help shoulder expanding responsibilities of the growing university. Trustees are also encouraged to take emeritus status at age 70 to bring more youth and new perspectives to Board deliberations. In 1950 the endowment reaches $30 million, which now supports 300 students and 114 faculty members.


Rice Institute Governors and officers, from left: Walter M. Reynolds (cashier); W. H. Francis Jr., J. Newton Rayzor, Dan R. Bullard (governor-advisor), Jack C. Pollard, W. Alvis Parish, Harmon Whittington, William A. Kirkland, Herbert Allen, Gus S. Wortham, George R. Brown, Dr. William V. Houston (Institute President), John S. Ivy, C. A. Dwyer (assistant secretary to the Board). Not present: J. Sayles Leach, H. Malcolm Lovett, John T. Rather Jr., John R. Suman, Lamar Fleming Jr.
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