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A Moment in History 1940s The effects of the Great Depression could still be felt at Latin School into the 1940s. In 1941 the Scott Street property was pledged as security for a $20,000 loan from the Continental Illinois National Bank and Trust Company, there was a drop in enrollment, and kindergarten tuition was cut from $200 to $125 and first-grade fees from $350 to $300. It was at this time that the idea of merging the schools also was first discussed as a possible way to save money. To ensure the school's future financial security, Arthur Wirtz, who had been on the board of the boys school for several years, established The Chicago Latin School Foundation. The foundation was incorporated as a not-for-profit with the purpose of collecting funds for use in reducing the school's debt. In time, the foundation would hold the school's property mortgage-free to ensure that future generations would not be able to sell property for the purpose of meeting current obligations. The foundation still exists, with ownership of the properties at 1531 N. Dearborn and 59 W. North Blvd. and with the charter of protecting the school in case of financial difficulties. World War II Years Money concerns, however, soon took a back seat to World War II and the impact it was having on the Latin community. During the early '40s seniors in the boys school were preparing for almost certain induction rather than college. Meanwhile, Headmaster James O. Wood found himself, as did many other heads of school, competing with the armed forces for male faculty. Students and faculty frequently voiced their support for the war effort and alumni serving overseas in the Sigillum and Vitae Scholae yearbooks. In writing his annual farewell letter to seniors in the 1943 Sigillum, Wood recognized a class of students who grew up during a unique time in history. "I recollect very well the time that you entered our school. It was a very small class – for it was known as the Depression class of 1930-31. During the succeeding years, the class grew in size with the school and saw the Depression pass. The final analysis is this: you are our War Class and will find changed conditions in life. As you once worked through the disturbing period of earlier years, we can count on you to help bring victory to our cause. You will come through, for yours is a tried and tested group. We pray for your safety and success." Students who entered Latin in the midst of the Depression graduated during the peak of WWII. Members of Latin's orchestra pictured in the 1941 Sigillum. LATI N SCHOOL OF CHI CA GO 47