The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1899-06-02
Formally Transfers the Bulk Of Her
Vast Wealth
To the University Which Bears the Name Of
Her Dead Son.
Deeds Representing Property VAL
ued at Over Ten Million Dollars
Given in Trust to the Trustees
of the Leland Stanford Jr. Uni
versity, Making It Now One Of
the Richest Institutions Of
Learning in the World.

| AcaxAAAS Al Inc wOIxOs
/. SAN FRANCISCO, June Mrs
Jane L. Stanford, widow Of the late
Senator Stanford, has formally trans
ferred all of her vast wealth to the
University which bears the name Of her
dead son. Deeds representing property
VALUED at over $10,O0O,OOO have been
given in trust to the Trustees of the
Leland Stanford Jr. University, and
this, added to it's previous endowment
! of over 15,OO0,O0O, makes it one of the
richest institutions of learning in the
world
The property includes stocks of the
Southern Pacific Company, of the
Southern Pacific Improvement COM
pany, the Market Street Railway Com
pany, stocks in Eastern railroads, in
coal mines, in everything that might
or might not pay dividend; real estate
| in California and elsewhere, including
property adjoining the Vina ranch and
adjoining the Palo Alto farm purchased
after the other property had been dedi-
Gated to the University's use.
In turning over her property Mrs.
Stanford read an address to the Trus-
! tees, suggesting plans for the future
and advising as to the present. She
asked particularly that there should be
established courses in mechanical
training where the hands of the
students could be taught as well as
their heads: she asked that Professors
be put in the workshops as well as in
the lecture rooms, and she expressed a
I icI =,
made fully as complete and valuable as
| the scientific and classical course
| Hereafter the only control she will ex-
ercise over her former vast estates will
be that of a Trustee Of the University
She has shown great ability as mana
| ger, having made both the Palo Alto
and Vina farms pay, which they did
not do during the lifetime of her hus-
band, and in accepting her munificent
gift the Board of Trustees count on her
valuable aid and advice in the future
Under the laws of this State real
property cannot be decided to a charit-
able or benevolent corporation, and as
Mrs. Stanford, who contemplates a trip
to Europe, wished the University to b.
assured of its endowment, she decided
to forestall any possible accident by
! giving it all she possessed in a strictly
legal manner
In making the transfer she provided
that should any Trustees prove un-
worthy of the trust he may be removed
by a majority vote of the Others She
SAID she had already made three
changes herself. The Board of Trus-
ktees has elected S. F. Lieb President,
Charles G. Lathrop. Treasurer and
RuSel j. Wilson Vice Chairman.
Mrs Stanford has gone to her VIVA
home to prepare for an extended visit
abroad.
The nominal value of the property
| transferred is placed at $1O,317 900. but
In reality it is said to be worth much
more. 1t includes all Mrs. Stanford
stocks in the Southern Pacific of Ken
lucky, 1S9 bonds of $1,000 each of the
chesapeake and OHIO and Southwest
ern Railroad. 1900 shares of the Mar
ket Street Railway Company, 1877
shares of the Rocky Mountain Coal and
Iron Company, and 10000 shares of the
Occidental and Oriental Steamship
7 Company These are valued at S1O-
WuOOO. The real estate is appraised at
S311 600. Other recent gifts will aggre-
gate at least $1,OOOOOO more.
| Mrs. Stanford has directed that the
number of women attending the un:-
versity shall not exceed 800 at any one
time. Her reason for this restriction is
that If the attendance of female stu
dents continues to increase at its pres
ent ratio, the university will soon be re-
| garded as an institution for females.
and not for men, as was intended by
| it's founders
Mrs. Stanford, who is now at her VIVA
iranch, intends to leave here on We'd
neSday for an extended sojourn in Eu-
rope. which she hopes will be beneficial
to her health.
| In addition to railroad stocks and
bonds and real estate already specified.
she has given to the university 1880
shares of stock of the Pacific Improve
ment Company, the value Of which is
| uncertain. She will also include 81
100000 Of Southern Pacific per cent
consolidation bonds, to be issued next
September.
| Up to the present time the univer-
sdty mas not been self-supporting The
expenses nave averaged $4,000 a
month, or total of 100000 a year.
Its productive income during the past
three years has not exceeded per year
| over S220,OOO. Mrs Stanford has
| made good the difference
! In addition to meeting this annual de-
| ficiency Mrs. Stanford las been max
ing improvements in the way Of new
buildings to the extent Of $4OO, 900 or
S6O0OoO These improvements will
soon be completed
| The gift of her 100000 shares of
Southern Pacific stock will not affec,
the management of that railroad At
the same time the Searles and Croker
interests in the company through Gen.
eral Hubbard and George Croker, re-
spectively, are pledged to protect and
foster the holdings of the Stanford in
stitution in the railroad.
It is stated that while Mrs. Stanford
has given the bulk of her property as
! the residuary legatee of her husband
to the university. she is nevertheless a
millionaire many times over Much of
this is still in an unsettled state legally.
AS. It's legal status is determined it is
said to be her intention from time to
A.