Evening star. [volume] (Washington, D.C.) 1854-1972, 1881-03-18
The Grant Fund.
A QUARTER MILLION RAISED-DEMOC Ratio ST
SCRIBERS TO THE FUND.

A QUARTER MILLION RAIsED-DEMoCR Ratio SUB.
SCRlBERS TO THE FUND.
To-day's New York Times states that sin
November last the Times appealed for ma
ttonal subscription to provide perpetual fund
whose annual income should be enjoyed during
life, and while not holding any federal Office,
by the Oldest ex-President OF the United States.
The desired amount OF the fund was stated at
f25000O, and Its probable yearly income at
Sl2, 500. While IL was believed that the entire
amount could be raised from the contributions
proper that the subscription should be popu-
lar one In which the quarter dollar OF the lab
orer should figure as consplcuously as the
$4,000 Of the millionaire. 1t was soon found,
however, that the time and organization re.
quired to collect great popular subscription
were formidable obStac eS to its satisfactory
completion, and that the business details of the
scheme might be seriously complicated by sub
hitting them to the control OF an unWieldy
body OF subscribers. The task of raising the
fund was therefore undertaken In person by
Mr.. George Jones, and invitations to subscribe
were addressed chiefly to those likely to give
sums Of considerable amOunt. Assisted by Mr.
Oliver HOyt and cordially seconded In his
labors by various patriotic New York mer-
chants and flnanoiers Mr.. Jones was enabled to
secure the entire amount required, and this
With but few contributions outside OF this
CITY,
a circular, which has been addressed to each
Individual subscriber TO the fund, announces
that OF the entire amount or $3.50, 900 which had
been subscribed S2l6 900 had been paid In. The
outstanding Subscriptions are mainly those of
few subscribers for large amounts who are at
present out OF the coulirj. The amount already
n ceived has been invested by committee OF
subscribers, consisting Of MesSrs. E, d. Nor
gan, Oliver Hoyt and George Jones. aud Will
yield an annual income OF $l3 100. Should the
remainder be invested to equal advantage, the
fund will yield over $4,000 year. The great
majority or the subscribers deem IL tnadVtsable
tC make public the names OF those who have
contributed to the fund, and about $50, 600 has
been subscribed on the distinct understanding
that the names OF the donors shall be kept
s Sc ret may say that an analysis
distribution or amounts:-2 subscribers OF
s25,O00 OF $4,000; IS OF s. 900; of 81. 500; OF
$1,000; As OF 81 geo; Of $50; 81 OF $500; II OF
$3.50; of $500; Is Of 500; OF $50, and various
subscribers for small amounts, $780, Total.
$3.50, 900. When 1t becomes necessary to provide
Tor the ultimate destination of the fund a
meeting OF the subscribers Will be called"
,a the NJ s says "A an early stage his
sary to abandon the idea OF devoting the
Income OF the fund.- without reserve, to the
benefit of the Oldest living ex-Presideht. The
nm ssne1t OF those appealed to was
imperfect substitute for the want of a national
provision for Gen. Grant, and that the final
destination Of the principal should be matter
entirely Within the discretion Of subscribers
for the major portion of the amount. No other
argument save one drawn from the pre-eminent
services OF Gen. Grant to the American people
Moulu nave asalieu W RAISE Inc Iund 10 Cne
desired limit One striking feature Of
the subscription list which Mr.. Jones has anal
yzed is the desire OF those who compose it to
remain, SO far as the public is concerned,
strictly anonymous. In fact, about $50, 900 have
been subscribed, in various amounts, with the
distinct understanding that the names OF the
donors shall remain a secret with the treasurer
OF the fund. While protested republicans con-
stitute the great majority OF the subscribers,
the list contains the names of men not 1denti-
fed with either party, as Well as of some prom
1nent democrats. One OF the latter class ap-
pears as subscriber for $40, 000.'