Arizona republican., 1903-02-12
A Pkilanthropic Trust.

Special dispatches from Washington give some details concerning pro- jected trust which, if organized, will be a unique octopus" The idea is to carry out a gigantic scheme for an or ganized system to control philan- thropic work. It is proposed to create an institution, to be known as the Philanthropic Trust company, with T cash capital of s1O,OOC,OOO, to be sub> scribed by the wealthy men Of the country, the income from this capital to be devoted exclusively to approved philanthropic uses. The Gircctorate, as planned, will be comprised of one hundred distinguished persons, selected because of their influence, learning and practical philanthropic ideas, these di- reotors and officers to serve without any compensation.
 The originator Of the project is Alfred O. Crozier, of Wilmington, Del, treas urer of the National Conference of Charities and Correction. He has had an interview with President Roosevelt, who is to be an ex-officio member of the board of directors, if agreeable to him, but who has not yet taken action on the proposition. MT. Crozier has also conferred with others in Washington regarding the project, and proposes later to call a conference, to be held there or in New York. According to the announcement issued by him few days ago, none of the subscribers to the fund nor any of the officers or di- rcctors are to receive any pecuniary benefits therefrom. The company is t0 engage in no business or undertaking for profit for any person or corporation, Cit whole aim and financial resources to be forever devoted exclusively to practical charity, wise philanthropy and worthy humanitarian efforts" The concern will be empowered to ac- cept and administer any trust for these purposes authorized by the board on terms prescribed by the charter or special agreement. It is to receive any money, personal or real property, rights, franchises, etc, investing CT using them according to discretion. Its capital is to be kept intact, only the income being available. Mir. Croziar says a number Of well known philan- thropists have interested themselves in the movement, and he hopes to secure the cooperation of philanthropists gen. orally, but has not been authorized to
 
 says:
 The company expects to employ the best obtainable talent and trained skill in it's various departments and through this wise counsel we expect to divert indiscriminate, wasteful and harmful charity to worthy channels, and by in telligent administration the generosity of the giver will be made to help in stead of harm the beneficiary, and en- able the removal, in large part, of many of the conditions and causes or poverty and misfortune. Whether gifts for purely educational or religious pur- poses shall be received has not yet been determined.
 This is time of accumulat tion of vast sums in the hands of individuals The process will increase rather than UlnllnlSn. BACK Of all this visible d3- sire for wealth and the feverish ambi- ton for power and social prominence. which is supposed to follow possession of a fortune, there surely exists among such people a very general desire and an ultimate purpose to use portions of their surplus accumulations for the good of society or humanity. With some this has in it an almost uncon- SciOus desire to at the same time help their personal standing, but in a larger number of instances the impulse is pure and generous. The establishment of this philanthropic agency on high lines and public knowledge of it's plans and purposes will undoubtedly cause the prompt addition of benevolent codicils to many wills now slumberine in safe deposit vaults. Not the least justification for the creation of the proposed institution is the need for ar agency possessing the respect and con- fidence of the public, that prompt ana adequate response may be had to ap- peals for funds in great emergencies like the Chicago fire, the Johnstowr flood, the Mount Pelee eruption and ths Galveston disaster
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 MexiC0'S Curreury Dian