 In 1873, on the occasion of Liszt's 50th anniversary as performing artist, the city of Budapest instituted a "Franz Liszt Stiftung" ("Franz Liszt Foundation"), to provide stipends of 200 Gulden for three students of the Academy who had shown excellent abilities with regard to Hungarian music.Liszt alone decided the allocation of these stipends.It was Liszt's habit to declare all students who took part in his lessons as his private students.