The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-01-30
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tQfOTe Tor

In this hope I think the IA. a.. - 5lid
be sacredIy held in reserve. It is not
d matter of one million, or ten mil
lions, or even of twenty millions, but
Of more, to fulfill WOrthily the wish Of
Washington, and think no one would
presume to use that almost sacred
name except for a university Of the
very first rank. established by national
authority but as he desired.
BE it our part, in our day and gen
GRAFTON. to do what we can 70 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 Util-
ize new forces for the benefit Of man.
Than this there can scarcely be greater
work. I wish you abundant success
and venture to prophesy that through
your efforts, in cooperation with those
of kindred societies in our country.
contributions to the advancement OF
/ the race through research viii COM
I pare in the near future not unfavOrably
/ with those of any other land. Again
I thank you"
Powers of the Trustees.
The deed itself recites in substance
as follows:
That Andrew Carnegie deems it his
/ duty and his highest privilege TO ad-
/ minister the wealth which has come to
Z him as a trustee in behalf Of others,
I and. entertaining the belief that the
/ best means Of dischaTging that trust
I is By extending the opportunities for
I study and research in our country, he
/ transfers to the trustees named ten
millions of registered per cent bonds
of the United States Steel corporation
D. r-1I in -aa
[ income from bonds or from other Sc
/ curities that may be substituted Tor
them to be applied TO paying the ex-
/ penseS of the trustees. who are 10 re-
ceive the bonds and collect the inter-
est. and may sell the same and invest
the proceeds according 10 the laws or
! New York. Pennsylvania and Massa-
cEUsettS. and who are not made re-
/ sp0nsible for the safety Of the bonds
or for their depreciation.
They may appoint officers, fixing
their salaries. and provide for the
financial business Of the trust The
income is to be expended for founding
in Washington an institution 70 CO.
operate with those now or hereafter
established. and in the brOadest ana
most liberal manner encourage inves-
tigation. research and discovery snow
the application OF knowledge to the
Improvement OF mankind. provide sucn
, buildings. laboratories books and ap-
paratus as may be needed and ahord
instruction Of any advanced character
10 students properly qualified to profit
thereby. Unexpended income may De
kept in a reserve fund To defray the
cost of buildings. BY a two thirds
vote the trustees may modify tnese
conditions in connection with the orig
inaI purpose, which IS TO secure I.
possible. for the United States OF
? America leadership in the domain or
inquiry and the utilization OF new
forces for the benefit Of manklnd-
After accepting the deed Of gift, the
trustees proceeded TO adopt bylaws
and then elected the following officers;
Chairman OF the board OF trustees
) 4b~sm Hewitt: vice chairman. Dr.
a BiI1ings. secretary. Charles D Wal
colt Dr. J c. Gilman. late Of johns
Hopkins university. Was elected pres ~
dent of the Carnegie institution Inc
hoard then adjourned TO meet tomor-
; row