THE recently published report for 1937–38 of the Carnegie Trust for the Universities of Scotland includes detailed reviews by Sir William Bragg and other eminent authorities of the operation during the quinquennium 1933–38 of the Trust's scheme for the endowment of post-graduate study and research. The scheme involved last year the expenditure of £19,000—about 15 per cent of the Trust's total disbursements, of which £51,000 went in grants to universities and colleges and £54,000 in assisting needy students to pay their class fees. The reports indicate that its results amply justified the research scheme, being fully up to the standard set in previous years. A noteworthy feature of its operation is the large number of the recipients of awards of fellowships and scholarships who are appointed to responsible positions on the staffs of universities and other institutions for teaching and research. This, remarks Prof. J. T. Wilson, emeritus professor of the University of Cambridge, in his report on the biological and medical section of the scheme, is in keeping with one of its outstanding functions: the establishment and reinforcement of a trained corps of scientific investigators constantly available for recruitment to the service of the community in its higher schools of scientific learning. As regards expenditure by the Trust on payment of class fees, a number of the beneficiaries afterwards refund the amounts thus paid on their behalf. Such voluntary refunds fluctuate between 2½ and 5 per cent of the total amounts advanced by the Trust.