The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-03-08
THE LICK TRUST.

The Lick trust, after twenty years of
most successful management, is in con-
dition to be closed and its remaining as
sets delivered to the residuary legatees 1t
is no fatterY to speak in terms OF the
highest praise of the trustees in whose
hands James Lick placed his vast prop
erty, charged with the many benefactions
to which he had devoted it. The manner
in which this trust has been administered
merits for the men who are about to be re-
ieved, an Immortality of remembrance on
the part of the people of California equal
to that accorded him who conceived the
philanthropy and created the trust.
An examination of the instrument by
which the eccentric millionaire made final
disposition of his wealth will show the ex-
traOrdinary difficulties which surrounded
the trustees of the Lick trust in their effort
to execute its terms. The property itself
was mainly in the form of real estate scat
tered all over California. A considerable
portion of it was involved in litigation
with the State about certain mortgage
taxes which 1t required an act of the Legis-
lature to adjust. The son of James Lick
also invited the trustees into court in an
attempt to set aside his deed. This matter
required the most delicate attention to
bring about the compromise which was
finally effected.
The next difficulty arose out of the
nature of the trust itself in the variety and
novelty of the objects to which its funds
were to be applied. An observatory, the
most extensive ever yet conceived, was to
be constructed upon a mountain top, and
within it was to be swung the largest tele-
scope in the world. Baths were to be
bui1ded, statuary designed and made, asy-
lums and educational institutions of va
rious sorts to be endowed or erected, and
all with property which had yet to be
turned into money, and not only into
money but into enough of it over and
above these expenditures to satisfy the
claims and expectations of several residu-
airy legatees.
1t has taken twenty years of constant
and faithful service to execute this trust,
and that the work of the trustees has been
done nobly and well is matter of history.
During the first decade of their service
there was occasional cavil at the policy
of Fastening slowly which the trustees
adopted. These murmurs, however, died
away dS Iue VdSIneSS OF the Undertaking
and the excellence of its performance be-
came impressed upon the minds of men.
The great Lick Observatory excited world
wide admiration. The lesser benefactions
gave increasing blessing. The funds de-
voted to the School of Mechanical Arts,
the Free Baths, the Key Monument
and the City Hall statuary were
well and wisely expended. To these pur-
poses the trustees have devoted almost
two million dollars, and yet, so prudently
have they managed and conserved their
trust properties that there remains about a
million dollars for the Academy of Sciences
and the Society of California Pioneers, who
are the residuary legatees.
Such record of success in the manage
ment and application of great trust prop
erty devoted to the public veal is some
thing of which the State of California has
good reason to be proud. When, there
fore, the eulogist of James Lick shall speak
or write of his practical wisdom as dis
played in the selection of his beneiciaries
it will be none the less fitting and Just to
add as a conclusive evidence of that wis
dom, the most fortunate choice which he
made in his trustees.