of liberal and technical learning" devoted "quite as much to investigation as to instruction." [We must] "keep the standards up and the numbers down," declared Lovett. "The most distinguished teachers must take their part in undergraduate teaching, and their spirit should dominate it all." Establishment and growth In 1911, the cornerstone was laid for the institute's first building, the Administration Building, now known as Lovett Hall in honor of the founding president. On September 23, 1912, the 12th anniversary of William Marsh Rice's murder, the William Marsh Rice Institute for the Advancement of Letters, Science, and Art began course work with 59 enrolled students, who were known as the "59 immortals," and about a dozen faculty. After 18 additional students joined later, Rice's initial class numbered 77, 48 male and 29 female. Unusual for the time, Rice accepted coeducational admissions from its beginning, but on-campus housing would not become co-ed until 1957. Three weeks after opening, a spectacular international academic festival was held, bringing Rice to the attention of the entire academic world. Per William Marsh Rice's will and Rice Institute's initial charter, the students paid no tuition. Classes were difficult, however, and about half of Rice's students had failed after the first 1912 term. At its first commencement ceremony, held on June 12, 1916, Rice awarded 35 bachelor's degrees and one master's degree. That year, the student body also voted to adopt the Honor System, which still exists today. The Founder's Memorial Statue, a bronze statue of a seated William Marsh Rice, holding the original plans for the campus, was dedicated in 1930, and installed in the central academic quad, facing Lovett Hall. The statue was crafted by John Angel. In 2020, Rice students petitioned the university to take down the statue due to the founder's history as slave owner. In January 2022, the Board of Trustees announced plans to relocate the statue within the academic quadrangle. During World War II, Rice Institute was one of 131 colleges and universities nationally that took part in the V-12 Navy College Training Program, which offered students a path to a Navy commission. The residential college system proposed by President Lovett was adopted in 1958, with the East Hall residence becoming Baker College, South Hall residence becoming Will Rice College, West Hall becoming Hanszen College, and the temporary Wiess Hall becoming Wiess College. In 1959, the Rice Institute Computer went online. 1960