St. Olaf College

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In 1893, St. Olaf faced severe economic difficulties. A national economic depression caused enrollment to drop from a high of 147 in 1892 to 129 in 1893. Also in 1893 the Norwegian Synod voted to cut ties with the college, greatly reducing its income. By the August 1893 board meeting, the college was $10,000 in debt. On August 2 the Board of Trustees appointed professor H. T. Ytterboe to travel around the Midwest and collect funds for the college. During this time President Mohn took over Ytterboe's responsibilities managing the college's finances. Over the next six years faculty and staff saw their salaries reduced, and the number of teaching faculty was reduced from eleven to seven. Ytterboe spent six years traveling the Midwest and was highly effective at fundraising, averaging $6,500 per year, mostly in small donations of a dollar or more from farmers and private individuals. By 1897, the debt was reduced to less than $4,000, and in 1899 the synod reinstated the college. Historians of the college widely …