The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-11-03
TO CHICAGO UNIVERSITY.
mar. Rockefeller Adds Three Million
Dollars to It's Endowment.


CHICAGO, Nov. 2.--The largest dona
ton ever made to an educational instl-
tuition at one time by one man to day
became the gift to the Chicago Univer-
sity, when F. T. Gates, representing
John d. Rockefeller, announced to the
trustees of the institution that the East
ern capitalist had determined TO add
So, 900, 900 to his already munifcent do
nations. The meeting had been called
for the purpose of comforting with Mr.
Gates who, it was understood was in the
city as Mr.. Rockefeller's representative,
to talk about the needs of the great IN
stitution of learning. Before the con
versation had been carried on great
while, Mr. Gates read the following com
munication from Mr.. Rockefeller:
''NEw York, Oct 30.
''To the Trustees of the University OF
Chicago, T. W. Goodspeed, Secretary:
Gentlemen: / will contribute TO the
University of Chicago, one million dol
lars for endowment, payable in 1895 IN
cash or at my option in approved inter
est bearing securities at their market
value. / will contribute in ad-
dition two million dollars, for
endowment or otherwise as
may designate, payable in interest
bearing securities al inelr market value,
but only in amounts equal to the contri-
buttons of cash or its equivalent not
hitherto promised as the same shall be
received by the University. This pledge
shall be void as to any portion of the
sum herein promised, which shall prove
not to be applicable on the above terms of
on or before January /, 1900.
"Yours very truly,
"(Signed JOHN d. ROCKEFELLER"
There had been no intimation of the
intention of Mr.. Rockefeller to bestow
any such gift upon the university, and
the trustees were so wholly taken by sur
prise that it was some moments before
the silence which had come upon them
when the reading of heletter began was
broken Then there was general hand
shaking and words of congratulations.
Sometime ago committee represent
ing the trustees proposed visit to Mr..
Rockefeller, for the purpose Of c0nferr-
ing with him regarding the needs
of the University. Mr.. ROckefel-
Ter replied that a trip to the
east would be unnecessary, and an
aounced that he would send Mr. Gates
to Chicago TO represent him. To the
latter gentleman the trustees said that
they needed about "a, 500 to place the
university in position to do the work
that had originally been outlined for it.
Mr. Gates left the city without intimat-
ing his opinion of the probability of Mr..
Rockefeller approving of the plans of
the trustees ana the announcement made
to-day was the first word that had been
received in Chicago regarding Mr.. Rock
efeller's feelings in the matter. OF this
latest gift 81 900, 900 goes to the univer
sity Internationally. To the re-
naming 100000 the ProViso is
attached that the trustees are
to raise similar am unit between this
time and the beginning of the year 1900.
This additional money is to be exclusive
of any that may be pledged at this time.
The trustees say they have not the least
fear of being able to raise the full
amount, and say the entire So, 900, 900 is
as good as theirs. Mr.. Rockefeller's
generous gift to the University in past
years is well known. Not only was he
its principal founder, but his interest in
its welfare has been constantly on the
increase He had already given the in
stitution "a, 400, 900, and the additional
endowment announced to-day will swell
the total amount to 81, 900, 900.