The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1905-01-27
THE PEABODY
SCHOOL FUND
HISTORY OF THE BIG MIL
LION DOLLAR LEGACY
WHICH NASHVILLE
SECURED.
SOMETHING OF ITS PURPOSES.
Nashville Will Give In Addition
100000, Davidson Coun-
ty $4,000 and the
State $4,000
Annually.
SOMETHING OF ITS PURPOSES.

Washington, January 25.-The meet
ing of the Board of Trustees OF the
Peabody School Fund was held at the
Arlington Hotel. President Roosevelt,
who is a member of the Board of Trus-
tees, came over from the White House
and remained almost an hour, taking
mart in the deliberations of the board
Chief Justice Fuller presided at the
meeting. The meeting closed this at
ternoou. The following statement was
given out:r
CONDITIONS ATTACHED.
"By two.thirds vote it was re
solved that the time had come to close
the trust. Thereupon million DOL
lars we're appropriated to the George
Peabody College for Teachers, II
Nashville, on certain conditions, which
include contributions from the State Of
Tennessee, Davidson County and the
CITY of Nashville.
The trustees declined to state which
two trustees voted against the closing
of the corporate trust President Roose'
velt voted affrmatively on both propo
sitions-thst is, to close the trust ana u
make the million dollar appropriation
The trust was created by MI. Fea-
body Feb. 8, 1867, and amounted e
So .0OO, 900, but almost $500, 600 OF thu
was in bonds Issued by the States o.
Florida and Mississippi, which were
subsequently repudiated. Therefore TN
fund to day is approximately $2,2OO'ooO
| The trustees we're given power u
distribute this fund at the expiratioI
of thirty years, which period ended IL
1897, and since then number OF ques
tions have arisen as to the distribution
The State of Tennessee, Davidson
County ard Nashville recently Offered
a bonus of 500, 900 providing the Pea
body trustees would appropriate 4
round million dollars for the Peabod!
College for teachers The details
this appropriation will be worked GU
by committee
This appropriation leaves sum
approximately 81 100000 which will b.
distributed later among other educa
tionaI institutions, probably at the mex
meeting. which will be held the mrs
Wednesday in next October in New
York Chief Justice Fuller was author
lied 70 call special meeting 10 IN
meantime, but it is not at all cerIaI'
that there will be one. The trustee
have authority to distribute two third
of the sum in the South and the re
maioder in the North, and it Is pron
able that the entire fund remainln
will be devoted to Southern lnstitu
lions. The board appointed commit
tee 10 consider the matter OF contrlpu
tions.
It is not certain just how long it wi
1, off n trtl61
but it was suggested to-Cay thaC IN
probably can be accomplished WlChl
two years and the corporation woul
then cease to exist.
The Peabody Board of TRUSTEES ma
for many years past, given ABOUT nal
of it's income to the Peabody Cole
for Teachers, much of it, however, e
inc TO the maintenance f scholarships
of which there were about U, wort
1900 per year each, with railroad fa'
in addition, and good for two years
These were abolished last june at tn
; end of the collegiate year. The Stal
= has of late years been contributing w
600 per anrum to he support OF tn
> college. and this has enabled 1t to o
fer tuition practically free to a
corners
Prof. Wickiffe Rose, Dean OF She &c
lepe. has been in the field since last y
t,,ber and has about completed raising
loan fund of $40 600 for the colleg
rbis is to be loaned to those studen
. who are unable to pay their expense
aid is intended to compensate tor VI
: loss of the scholarships abolished. III
raising of dormitory fund will now
nushed actively. Prof. Rose is NEE
ing with encouraging success In tn
matter.
Securing the cherished permanel
= endowment of a million dollars meal
y the putting of the college on its fee
. with the assurance that it will oecon
. one of the foremost institutions In q
= country. There will necessarily
. more professors, new buildings, mo
Ia boratories, extended course OF j
: struction, and, of course, mu'
" larger attendance.
The college will try to raise as
= home endowment the equivalent or a
y other 1000, 600. The buildings al
q present equipment figure at $500, ooo
: making up this sum. Nashville d
I ALI eady authorized bond issue
5000. 600. Davidson County will 81
- $50. 600, and the State may be depend
=, an for $40. 600 or more annually.