‘The Carlson Scho. The birth of the University’s new “College of Commerce. While University of Minnesota lead crshad dieeussed che idea of ereting 2 College of Commerce —nschoal devoted as far back as the #8705, shore ter, maverick professor and steady pressure rom the local bust ness community to convince the University’s regents to approve the idea, No one could have been better prepared to start the University of ‘Minnesota Business School than Willard E, Hotchkis, a 44-year-old ‘economies professor who had helped develop the business program at Northwestern University in chicago, Hotchkiss an expertin econo iesand political science and a vocal sipporter of bosiness edeation ‘would goon to lead busines programs a Stanford University and the ins Instiewe of Technologs But as World War I raged, he moved co Minnesota vo pull eogether feu foracop-notch business schoo in 2 1omwing commercial center, The author of a recently published hook on business education, “Hotchkiss believed business should operate not jt for immednte profits but also forthe long-term good of society anda healthy econ= ‘omy The landscape he enteced inthe fal of 1917 was ready for a new approach vo business education, and Hotchkis frst cask was to build a youngand brane faculry The wat had taken some well-regarded fac tly from the economies department, sohe hogan reuiting bringing in, amongothers, tax expert Roy Blakely; George Dovrie, a banke ingexpere from Michigan and Frederic U. Garver who wouldeolaborate ona popular text, Principles of Econom Totehkies envisioned a cutrcuhim chat promoted both theunderstindingof theory tnd the practical application of ies prine!- ples, using the community as alaboratory foeeesearchand teaining the study of busi GROWING PAINS When che regomts approved the school ia June 1919, two uncepeeted problems emerged. Titst, ewer than 106 students met the rigorous standards. Second, Hotchkist— apparently ivtated thatthe fepenrs refused to move night business courses t the new school from the {general extension division decided to leave the Univesity for wor as ‘labor negotiseor Ie fell to Dowri to lead the Bedzlng school Smullin number, the fculey and students in the easy days ofthe school maintained close wcial and academic tics, frequently hosting sinners, piensesin St, Paal’sComo Park, winter dences and fll"smoe tra? Students met weelly ata tearoom in Dinkytowa ms part ofthe School of Business Luncheon Club, where che main goal was 1 eat ‘asmuch fod as possible ae quckly 2s posible allow is habit the greatest posible amount of time for so-called jokes and wisecracks” ‘ccording 1oenty Tilton, '2s BSB, Stadents and faculty shared a sense of being parc of something new nd being'differeat” om the rest ofthe University eos munity As University historian James Gray wrote, the typical ssinessseudent “has a view of the work toward sich he is heading clearer than that of many Fellow st dents. He does not always approve of thar world, but he ows its wars” Accounting program cestabishedA Full Cup A look at the birth of a Carlson Schoo! tradition ‘that continues today. ‘White enrolment continued to rie in the 1920s—by the fourth year, 250 students were enrolled in the school and mere than 400 by Us ‘end ofthe decade—the School of Business Administration was stl ‘mall enough for students to have an impact on how it operated~ fend to play e joke or two. Beginning inthe fll of 928, four students bbegen a cooperative book exchange, hich would santinve for many years. The students bought and sold used textbooks, chara: ing 810 percent eornmission to cover expenses. The four founders famed Henty Hilton the fist manager ofthe book exchange. Ita, ‘an immediate suecess, wth more than 75 percent of students using the service. That same year students asked Dean Stevenson to present an outstanding service ‘2rd t0 a senior. tan, '29 BSB, volunteered to make the trophy that woule be presented to the winner. For a joke he fashioned a trophy from a tomato soup can nailed to a wooden ‘candlestick that belonged to his mother. To Hilton's suprise, Stevenson presented frm with his ‘reation, which became known as the Tomato Can Loving Cup Award. ‘The tration eantinues atthe Carlson Schaal today, as the increasinaly rickety soup canis ‘ven each year to deserving unceraraduate student in addition to the can, ward recipients ‘ot ancthor significant benafit: fll scholarship to the Carlson Schoo MBA program. Thetomatocanowng cop “MLS. GROWING CONNECTIONS ln themid9205, Dowsie left andie fll Russell Stevenson, a3 year-old former student of Dewees toexpand the school soering and slip its programs ‘While students and faculty may have fel ditferen from the rest of the Universi hey established close tiesto the vin Cities business commuaity, which had helped the school get started. [n 1926, Scevenson tld che Minneapolis Business Men's Association tha one of te biggest challenges for bbusiness instructors was to “combine a theory of business with actual practice.” Stevenson pointed, hpride co agreements the school had reached wo allow students inthe new accounting program to ‘work inthe offices of several Twin Cities firmsas hey completed their degrees. Stevenson also realized theschoul must begin offering courses inal specialties and stata large-scale program of researchand fourcach that would speak ca the noeds of the community: From its east days, che schoo) engaged tn cooperative programs with other branches of che University particulary the agrieuitural and engi neering departments Aer Stevenson took overs dean, stufents were soon able co take courses in inane nsuranee, transportation, marketing, and busines law Faculry began offering eracoate courses avi. To reflect the broader scope of offerings, Stevenson perasaded he regents tchange the schoo name to the School of Business Adminstation, Aste 1920s ended, the school found itself ina strong positon. Ichad an established faculty solid ‘epateicn in the busines community and links to scholars business ownersaround the state. Afr the stock market erash in 1929, however ft would need all oF those sesources Mary Lab Sir Russall Stevenson ‘named dean clable Grads from the I92Os Minnesota's business sehaol may have been young. but it produced ts share of innovators from its earlast ‘asses, Several from the 1920s made their marke on icone companies ot the 20th century 5 Clark Bese, '25 BSB, was the son of « country doc: tor fom Windorn, Minn, He worced in banking for several companies before joining San Francisco-based Bank of American 1936. He wos ‘lected president of the benk in 1954, Described as aim and unrutfed by rime, Beiee is widely eredites vith championing computerization {and automation financial services; In adaition to shepnercing the fst rect cords to the market He retired fom Bank of America in 1963 ana liad in 1989 at age 3. Classmate Sieney Swensrud, "25.850, attended Horvard before ‘going into the olf business in 1927. He started with Standard Ol and made his reputation as an executive who rede on tanker tunes, visiting with ‘workers and customers to under: stand every aspect ofthe company's business, Swensrud joined Gulf Olin 1047, retving 3s prosident in 1958. Ho liad in 1996, at age 96 Bryan Smith, '25 858, joned Libony ‘Mutua Insurance Co. 1027 as 3 ‘slosman. He worked teritoriee in ‘Duluth, St, Paul and New York City befere transterring tothe company headquarters in Boston He eetirec {the nsurance gant’: chairman in 1966 and died in 3989 at age 1Ey Hal lssroon idea ater Associated fo Busters Boer he School of Business dministation may havebeen born in the rearing yeas ofthe 1920s, but icame oF age inch +9303, when difficult imes demanded the sills and resources the sehool could offer No incident better illustrates thet than request for help the school received in 1931 fom Minnesota Gor. Floyd Bk Olson The state unemployment rate had risen from about 35 petceat inthe late L920s 0 neatly 20 percent. (Ie wo Peake 35 percent in 2933.) Olson wanted help understanding how the economy worked and how the government onl be mos helo creating jobs. Beginning in 1929, Willa F, Stead, a recent Minnesota PHD and a professo¢ in che business school, had been studying unemployment He had surveyed women with home economics degrees seeking wor, as wellas unemployment ends in Duluth and St Paul, With panes from the Rockefeller Foundation, the Carmegie Comp nd the Speiman Fund, Sted and his fellow business faculty members brovght together experts from such Res as medicine, psychology sociology, and engineering to study the balance etween public and privat investment ina hesthy economy Their goal: Guide the ate efforts to pall Minnesota ou ofthe Great Depression, (Over the next for eat, the business echoals Employment Stabilization Research Insite produced 36 monographs om epics ranging from indavey rides in flee sach ss henkingand conserocion eo ses of scien management Thatta ta the evil eomacquencts eng et wasp The rescarch, published by the University Press, informed much of Olson's plan for bringing new jobs to Ra tla cota aS la eee eel eg aed dations into plac. The efforts proved so succesful thu the federal government asked Sead ta owerse the creation ofa similar research barean to operate ona national lve Throughout the 1330s, faculty continued to reach out to businesses around the state, providing information and forums for discussion. The annual bankers! conference held tthe University each year often drew several hundred ancendecs Faculty frequently taught at other noncredit insticuces and were instrumental in forcing organizations for speclky areas of busines, such asthe Minneapolis Adverssing Clb, he Minnesota Economie Club, and local chapter ofthe National Association of Accountants The drive ro crcate and share knomledg also reached the stadents who published a research journal, the Gop Baas News, n the ae ‘9208 and 1950, Inaition, the school began granting an MBA degree in 935 THRIVING UNDER PRESSURE While faculty worked to solve the state's economic problems he schoo! suf ferel rom challenges of its own in the 1930s. Enrollment rappel by hetweea 193 and i932 as more student ova they simply could tuition, which cost Sso per quarter The schools 1932 request for amuch-needed new binding co ease overerowilingin Fckly Fall and update facies crumbled Hall Businese Women's clus founded to bring Tet vime Universi vnterested business, Chas members met for inthe Gosement ‘Vincent al MEA program ‘ntoaiced SSenaol moves Tato thenew Vincent Hel ing sudente 3 Single, permanent Teal forthe {eosther women