New-York tribune., 1903-02-07
TRUST IN Il NEW FIELD.
II Big Corporation to Control Phaf-
anthropic Work Proposed.
my TELEGRAPH TO THE TRIBUNE. J.

Washington Feb. 6-A gigantic scheme for an
organized system control philanthropic work in
the United States in which men like Mr. Rookie
Teller said by its protector to be interested, IS
disclosed in a movement which made public
In Washington to-day 1t is proposed TO create an
institution to lie known as the Phanthropic Trust
Company. with cash capital of SO.00c0. To ne
subscribed by the wealthy of the country. the
income from this capital to be devoted exclusively
to approved phianthropic uses. The directorate,
planned will be comprised of hundred dis
tnguished persons selected because of their infiu-
ence, learning and practical philanthropic ideas.
these directors and officers to serve without any
compensation.
The originator of the project is Alfred o. Crozier.
OF Wilmington. Del. treasurer of the National
Conference of Charities and Correction He has
had interview with President Roosevelt. who
is TO be an ex-oficio member OF the board of di-
rectors. II agreeable TO him. but who has not yet
taken action on the proposition Mr. Crozier has
also conferred with others in this city regarding
the project and proposes later to call conference
TO be held in this city or in New-York According
to the announcement issued by him To-Day none
of the subscribers to the fund any of the ofil-
GERS or directors are to receive any pecuniary
benefits therefrom. The company is to engage IN
70 business or undertaking for profit for any per-
corporation, its whole aim and nnanclaI
resources to devoted exclusively to prac-
tical charity. wise philanthropy and worthy nu-
llanitarian efforts" The concern will be en-
powered to accept and administer any trust LOT
these purposes authorized by the board on terms
prescribed by the charter or special agreement IL
is to receive any money. personal or real property
rights franchises etc. investing using them ac
cording discretion. Its capital is TO be kept In
tact. only the income being available. Mr. Crozier
says a number of well known philanthropists have
interested themselves in the movement and ne
hopes to secure the cooperation of phlanthropists
generally. but has not been authorized to make
public any names as yet He says;
The company expects to employ the best obtain
able talent trained skill Its various Depart
divert indiscrimirae, waseful and harmful charity
to worthy channels, and by Intelligent aorlniStrd-
ton the generosity of, the giver Will be mace 20
help instead of harm the beneficiary. ana enaDle
and causes of poverty and misfortune. Whether
gifts for purely educational or rellGlouS purposes
shall be. received has not yet been determined
This Is a time OF accumulation OF vast sums IN
rather than diminish Back OF all this visible desire
for wealth and the feversh ambition tor power and
social prominence, which Is supposed 20 folo"
possession of fortune, there surely exists among
purpose to use portions of their surplus accumua-
tions for the good of society or humanity with
some this has In it an almost unconscious desire
to at the same time help their personal standlns
but in larger number OF instances the impulse is
pure and generous. The esta bShment or this PM
anthropic agency high lines and puDnc hnoWl-
edge of it's plans and purposes Will undouoIediy
case tho prompt addition of benevolent codlcils 10
many Wills now slumbering in safe deposit vaults
Not the justification for the creation OF lne
proposed institution is the need for an agency pos
sessrg the respect and confidence or the puphc'
that prompt and adequate response may be had 70
appeals for funds in great emergencies like the
Chca go fire the JohnstoWn food. the Mont Pelee
eruption and the Galveston disaster