The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-06-02
PARTS WITH MILLIONS
Mrs. Stanford's Big Gift to the Uni
versity In California.
TURNS OVER HEX FORTUNE
VALUE OF THE DONATION Is
PLACED AT $1o,317,0oo.
This, Together With the Previous
Endowment of SIS, 100000, Will
Make the Leland Stanford, Jr.,
University One of the Richest In
situations of Learning in World.

San Francisco, June Mrs Jane l.
Stanford, widow of the late Senator
Stanford, has formally transferred all
of her vast wealth to the university
which bears the name of her dead son.
Deeds representing property valued at
over $4,000. 600 have been given in trust
to the trustees of the Leland Stanford
jr., university, and this added to its pre-
vious endowment of over $4,000, 900,
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 company,
the Market Street Railway company,
stocks in eastern railroads, in coal
mines, in everything that might or
might not pay a 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 ded-
icated TO the university's use. There
were 5000 in war revenue tax stamps
attached to the deeds of trust
In turning over her property, Mrs.
Stanford read an address 10 the trus-
tees, suggesting plans for the future,
and advising as to the present. She
asked particularly that there should be
CStdDilSIlcQ COURSES III IflecUdnlCdl Train
Ing, where the hands of the students
could be taught as we'll as their heads;
she asked that professors be put in the
workshops as well as in the lecture
room, and she expressed a wish that
these mechanical courses be made fully
as complete and valuable as the scien-
tffic and classical course.
She Will Be a Trustee.
Hereafter the only control she will
exercise over her former vast estates
will be that of a trustee of the univer-
sfty- She has shown great ability as a
manager, having made both the Palo
Alto and Vina farms pay, which they
did not do during the lifetime of her
husband, and in accepting her munifi-
cent gift the board of trustees count
on her valuable advice in the future.
Under the laws of this state real
property cannot be willed to a charit-
able or benevolent corporation, and as
Mrs Stanford, who contemplateS a trip
to Europe, wished the university to be
assured of its endowment, she decided
to forestall any possible accident by
giving it all she possessed in strictly
legal manner.
In making the transfer she provided
that should any trustee prove unwor-
thy of the trust he may be removed by
majority vote of the others. She said
she had already made three changes
herself. The board of trustees has elect
ed S. F. Lieb. president; Charles C. La
throp, treasurer, and Russell ]. Wilson,
vice chairman. Mrs. Stanford has gone
to her home to prepare for an extended
visit abroad,
Composition of the Gift.
The nominal value of the property
is placed at $40. 81 600. but
in reality it is said to be worth much
more. 1t includes all Mrs. Stanford's
stocks in the Southern Pacific of Ken
lucky, 1S9 bonds of 81, 600 each of the
& Ohio & Southwestern
1900 shares of the Market
Street Railway company, 1917 shares of |
the Rocky Mountain Coal & Iron COM /
pany. and 10000 shares of the Occiden- |
tai & Oriental Steamship company. |
These are valued at 10000, 900. The real
estate is appraised at S317, Other re- |
cent gifts will aggregate at least 81 .O0G.-
700 more.
Mrs. Stanford has directed that the |
number of women attending the uni
Versity shall not exceed 500 at any one /
lime. Her reason for this restriction is !
hat If the attendance of female stu
tents continues to increase at its pres
mt ratio, the university will soon be
as an institution for females
and not for men, as was intended by
is founders.