The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-07-01
John D. Rockefeller Opens
His Hand.
FOR HIGHER BRANCHES
1t is Given to the General Education
Board as an Endowment, the In
come to Be Used in All Sec,
tions of the United
States.
(By the Associated Press.D

New York, June 30.-Ten million
dollars as an endowment for higher
education in the United States has
been gieVn the Genrai Education
board by John d. Rockefeller. The
announcemnt was made by DR.. Wal
lace Buttetrick, of the board, at a
meeting today. The following letter
to the secretaries and executive Off
GERS of the board from f. T. Gates.
Mr.. Rockefeller's representative, was
given out:
am authorized by Mr.. John D.
Rockefeller to say that he will give
to the General Education Board the
sum of ten million dollars ($10,000,-
000) to be paid October 1st next in
cash or at his option, in income pro-
ducing securities at their market
value, the principal to be held in ger
petuity as foundation for education,
the income, above expenses and adj
ministration to be distributed to or
used for the benefit of such institu
tiOnS of learning at such times, in such
amounts, for such purposes and under
such conditions, or employed in such
other ways as the board may deem
best adapted to promote a compre-
hensive SYSTEM of higher education in
the United States.
With the letter the following state
ment was given out:
John ID, IRockefeller, eT~JFsA with
other gentlemen of~tnis city was in
strumental in forming the General
Education Board in February. 1905. a
very broad and admirable charter was
secured from Congress and signed oy
President Roosevelt on January IL,
1903
"a gift of one million dollars from
II
ately passed over to the board, especi-
aIly designated for educational work
in the South. other funds have bee
added by other philanthropists sin'"
that time. and the board has contint
it's work hitherto mainly to educ
tional work in the southern states
''The present gift differs from
Rockefellers first gift to the board
the following particulars:
THE principal gift of the sum
one million dollars made on the
ganfzation of the board could be di
tributed. The present gift of ten mi
lion dollars is held as endowment, Il
income only being available for oil
tribution.
'"The first gift was designed to
used exclusively in the Southern
States. The present gift is for use not
only in the Southern States but
throughout the United States, without
distinction of section.
"The first gift could be used for
common schools and secondary edu-
cation The second gift is confined to
higher education. and is designed es-
pecially for colleges as distinguished
from the great universities, although
there is no prohibition in the letter OF
difference against making ccntribu-
tions to universities.
Both gifts are alike available for
denominational schools as well as for
those which are non-sectarlan'
While the funds may be em-
ployed for denominational schools
! they will be employed without sec
tartan distinctions. No special demon
| ination will be favored, but the FUNDS
will be open to approved schools OF
all denominations, although they can
not be employed for giving speclflcally
| theological instruction.
''In distributing the funds the
board will aim especially to favor
those institutions which are Wen
| treated. and which have local con-
stituency sufficiently strong ana aple
to insure permanent power NO IT
| tempt will be made to resuscltate
moribund schools or to assist lnssltu-
tions which are so located that they
cannot promise 10 ue Pei iiieh'eii1iS
useful.
''Within these limits there are no
restrictions as to the use of the IN
come. 1t may be used for endowment,
for buildings, for current expenses. for
debts for apparatus, or for any other
purpose which may be found most
serviccable.
"If the fund proves to be as useful
as is now anticipated, Mr.. Rockefeller
will probably make large additions to
it in the future"