Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-10-09
Grinnell Offers To Take Charge
Of a Mans Property and
Pay Annuity
OWN PRINCIPAL AFTER DEATH
President Bradley Evolves Novel Plan
to Increase College Endowment and
Perform Valuable service-Minis.
ster. Laon Library Established-col
Ieae Attendance Increases This Year.
Special to es-Republican.

Special to Times Republican.
Glinnell, Oct. 9.-Under the new di-
rectorship Of President Dan +. Bradley
Grinnell College has experienced new
life and is making preparations for
greater development. With the opening
of the present school year the registra-
ton of students was 10 per cent greater
lis an indication Of vigor and life in an
educational institution, makes the need
of additional endowment all the more
imperative. Several plans for obtain
ing financial aid have already been put
in operation, bus the latest, known as
the annuity proposition, is altogether
new and is one of the most unique ever
adopted in college management In
brief, it is a proposition to receive IN
trust the property of aged people, to
manage 1t for them free of charge and
pay them the income in the form of an
annuity while they live. on the one con-
dition that the property revert to the
college endowment fund upon the death
Of the donors.
The college announcement Of the plan
is as follows:
There are many worthy friends OF
Christian education who desire to give
their property to endow the Christian
college. but who need the income of
what they possess during their life
time. Moreover by reason Of age or IN
trinity or distaste for financial matters.
such persons would pc glad to be re-
lie.ved of the care of property, provided
they could feel sure that it was in abb
solutely safe hands and certain TO
yield them or those dependent upon
them regular and prompt returns. To
such patrons Of sound learning Iowa
College is prepared to make the follow
org propositions:
1. Iowa College will accept and hold
the property OF such persons as are
mentioned above, in any amount, In
vest the same and pay over annually or
semi annually to the donor during his
o, her lifetime fair rate Of interest on
the amount given.
2. At the death of the donor, the prin-
cipal, released from the obligation OF
the annuity, will then be placed in the
endowment, the scholarship, the fellow
ship or other fund. as stipulated by the
donor, and the name of the donor will
be attached to the fund, to be used by
the college forever, as designated.
The college has large experience an
making safe and conservative loans at
fair rates OF interest. Its business
transactions involve large sums OF
money annually. In its fifty-five years
az business 1t has lost not dollar OF
money invested, tho during the same
,,eriod half dozen serious panics nave
swept over the country, running thou-
sands OF corporations and individuals.
Its investments are made by q commit
tee OF conservative business men on
productive real estate, chiefly IN Iowa.
Its assets are constantly increasing. Its
agreement to pay is as reliable as any
thing human can be.
The college can afford to accept the
responsibility and transact the business
necessary to managing such funds, be-
cause 1t is constantly making invest
jments and can add to its transactions
with little increased cost. Moreover, the
life Of the Oldest individual is short,
while the life Of the college is perpet-
ual, and it can well afford to walt. II
can thus serve its friends While they
live, and aid them to do their charitable
work after they pass on. This method
Of Immediate convenience to our friends
and of ultimate aid to the college Is not
TN untried one. Several persons care
ful in business have sought its advan-
tages and without suggestion from the
college. 1t has been uniformly salts
factory to those who have adopted 1t.
President Dan F. Bradley or Secre-
tary II. H Robbins, Iowa College. Grim
nell, will be glad to confer with any
who may be planning to use their prop
erty in the manner named above.
Another important feature that has
been adopted by the college manage
ment is the loan library for ministers all
over the state. BY the payment of a
membership fee of 81 per year minis
tiers in Iowa can avail themselves OF
the use Of the college library for the
hest current literature along the lines
OF their special work. A collection OF
books of theology, missions, Biblical
criticism, history, archaeology, soclol-
ogy, philosophy, literature, ETC., for the
special use of the ministers, to be sent
out to them as represented. to be re-
tanned for a period of three weeks, will
be maintained and any one having
hooks that they would like to contribute
to this department are invited to send
them in to the college library.
MAsoNs At CEDAR RAPIDS.
Third Annual Meeting Of Grand coun-