The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-01-30
CARNEGIE TO
HIS TRUSTEES
IRONMASTER, GIVING MILLIONS, IS
NOT TALKING In BOAST
Full SPIRIT
WAsHINGToN's NAME SACRED
And Must BE Held in Reserve for the
Time When a Great National
University Shall Be
Built.
WAsHINGToN's NAME sAcREl
DEED OF GIFT IS LIBERAL

WASHINGTON, Jan. 29.-An adjourn
ed meeting of the trustees of the Car
negie institute was held at the state de-
partment this Afternoon and a long step
was taken towards permanent organfza-
ton and the initiation Of the work of the
institution Abram S. Hewitt, of New
York, called the meeting to order, and
Secretary Hay was elected temporary
chairman, and Charles d. Walcott tenn
porary secretary. William E. Dodge,
of New York, was elected to the board
to fill a vacancy caused by the decIina-
ton of eX-President Cleveland who sent
a letter regretting his inability to serve.
After the roll call Mr.. Andrew Carnegie
made a brief address, presenting the
deed of gift. He said, in part:
This gift has its own modest field and
is intended to cooperate with all kim
dred institutions, including the Wash
ington university, if ever built, and it
may be built if We continue to increase
in population as heretofore for a gem
Grafton. In this hope 1 think the name
should be sacredly held in reserve.
Not a Matter of Millions.
1T is not a matter of one million, or
ten millions, or even of twenty millions,
but of more, to fulfill worthily the wish
of Washington and I think no one
would presume to use that almost sacred
name except for university of the very
first rank, Established by national
authority, as he desired. Be it our part
in our day and generation to do what
we can to extend the boundaries of
human knowledge by utilizing existing
institutions.
Gentlemen, your work begins, your
aims are high, you seek to extend known
forces, and to discover and utilize new
forces for the benefit of man. Than
this there can scarcely be a greater
work. 1 wish you abundant success and
venture to prophesy that through your
efforts, in cooperation with those of
kindred societies in our country, contri-
buttons to the advancement of the race
through research will compare in the
near future not unfavorably with those
of any other land.
Provisions Of the Deed.
The deed itself recites in Substance as
follows:
That Andrew Carnegie deems it his
duty and highest privilege to administer
the wealth which has come to him as a
trustee in behalf of others, and entertain
ing the belief that the best means of dis
charging the trust is by extending the
ing the belief, that the best means of dis
opportunities for study and research IN
our country, the transfer to the
trustees named of ten millions of
registered per cent bonds of the United
States Steel corporation This gift is to
be held in trust, the income from the
bonds or from other securities that may
be substituted for them to be applied to
paying the expenses of trustees who are
to receive the bonds and collect the in
terest, and sell the same and invest the
proceeds according to the laws of New
York, Pennsylvania and Massachusetts,
and who are not made responsible for the
safety of the bonds or for their deprecia-
ton. They may appoint officers, fixing
their salaries, and provide for the finan-
cial business of the trust.
Expenditure of Income.
The income is to be expended to found
ing in Washington an institution to CO.
operate with those now or hereafter es-
tablished and in the broadcast and most
liberal manner encourage investigation
research and discovery; show the appli-
cation of knowledge to the Improvement
of mankind; provide such buildings, "a
boratories books and apparatus as may
be needed, and afford instruction or an
advanced character to students properly
qualified to profit thereby. Unexpended
income may be kept in a reserve fund
to defray the cost of buildings. BY
two thirds vote the trustees may modify
these conditions in accordance with the
original purpose, which is to secure if
possible for the United States of America
leadership in the domain of discovery
and the utilization of new forces for the
benefit of man.
After accepting the deed of gift the
trustees proceeded to adopt bylaws and
then elected the following officers: Chair
man of the board of trustees, Abram 8.
Hewitt; vice chairman, Dr. J. S. Billings;
secretary, Charles d. Walcott.
DR.. Daniel c. Gilman, late of Johns
Hopkins university, was elected president
of the Carnegie institution. The board
then adjourned to meet tomorrow morn
ing.