The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-01-05
CORPORATION FORMED TO HANDLE
THE IRONMAsTER'S GIFT OF
TEN MILLIONS
ALL OBSTACLES ARE REMOVED
Donor OF the Money VIII Hand the
Funds over in the Form Of Gilt
Edged Securities of Indus
trial Corporations.
A LARGE BOARD OF TRUSTEES


WASHINGTON, Jan. 4.-Secretary Hay
and a number of gentlemen interested in
the Carnegie project of national uni
versity met at the state department to-
day and formed corporation known as
the Carnegie Institution. 1t is under
stood that Mr.. Carnegie has removed the
obstacles that existed to the acceptance
Of his $40, 600, 900 donation to the cause Of
education and today's action was the first
step toward giving legal form and sub
stance to the proposition. Besides Sec
retary Hay, the incorporators, all of
whom were present at today's meeting,
are Edwin D. White, justice of the su-
preme court; S. G. Gilman, late president
of Johns Hopkins university; Chas. D.
Walcott, superintendent of the geological
survey; John S. Billings, former surgeon
of the navy, and Carron u. Wright, COM
missioner of labor.
Text Of Articles Adopted.
The preamble of the articles of incor-
poration sets forth as follows:
I'VE, the undersigned persons of full
age, and citizens Of the United States,
a majority of whom are citizens of the
District of Columbia, being desirOus to
establish and maintain in the city of
Washington, in the spirit Of Washington,
an institution for promoting original re-
search in science, literature and art, do
hereby associate ourselves as a body
corporate for said purpose, under an act
to establish a code of law for the Dis
trict of Columbia, approved March 3, 1901
section 500 to 604 inclusive"
In pursuance of that act the provisions
and purposes are certified briefly in four
articles. They fix the name and title of
the institution as the Carnegie Instftu-
tion,' and show that it is organized
for a perpetual term" It's objects are
the promotion of study and research, the
power to acquire, hold and convey real
estate and other property and to establish
general and special funds; to assist in
Vestigations in science literature or art,
to cooperate with governments, uriversi-
ties colleges, technical schools, learned
societies and individuals; 10 appoint COM
mittees of experts to direct special lines of
research publish and distribute docu-
ments, conduct lectures and hold meet
1ngs, acquire and maintain a library and
in general to do and perform all things
necessary to promote the objects Of said
institution.
Securities VIII BE GfIt-Edged.
The meeting today, at which the incor-
poration crystallized, was the result Of a
number Of informal conferences that have
been held by the incorporators, who We're
selected personally by Mr.. Carnegie. The
definite form In which the gift of Mr.
Carnegie will be made has not been an
nounced, although, according to those
interested in the project, it will be in a
shape generally satisfactory. 1t is under
stood it will be in the form Of gilt-edge
securities, but not Of government issue,
in view of the greater income paid by the
outside securities. The further de-
velopment of the project now
awaits the outline from Mr.. Car
negie to his ideas and purposes. The
next step will be the organization of a
board of trustees. This doubtless will in
clude the present incorporators and other
representative men from all parts of the
country. This will be in line with the
policy pursued in organizing the board
for the Carnegie institution in Scotland.