The French Broad hustler. [volume] (Hendersonville, N.C.) 1896-1912, 1905-07-05
FORTUNE FOR EDUCATION
John D. Rockefeller Gives $40, ooo.O
to General Board.
The Big Universities Are Barred From
Any Portion of the Fund
Conditions Named.

New York City.-Following the an
nouncement of the gift to Yale by John
D. Rockefeller of $1,000 came the
announcement of his gift of S10.OO0,O0O
to the General Education Board for
higher education il the United States.
The announcement was made in the
following statement:
SAT a meeting of the General Educa-
ton Board a gift of $10,O00.O00 was
announced from MI. John D. Rockefel-
Ter. The fund is to be an endowment
for higher education in the United
States.
"Dr. Buttrick, of the board. gave ont
the following statement with respect
to this gift. He said the announce
ment of the gift was contained in a
letter from Mr.. F. 7. Gates. who is
Mr.. Rockefeller's representative. The
following is a copy of the letter Of gift:
'.26 Broadway, New York City.
To Messrs. Wallace Buttrick 4
Starr J.. Murphy, Secretaries and
Executive Officers, General Edu-
cation Board, "a William Street,
New York:
"Dear Sirs-I am authorized by Mr..
John D. Rockefeller to say that be will
contribute to the General Education
Board the sum of ten million dollars
($1O,OO0,O 00) to be paid October 1 next,
in cash, or, at his option, i'll income
producing securities, at their market
value, the principal to be held in per-
petuity as a foundation FOR education,
the income, above expenses and ad-
m~inistration, to be distributed to, or
used for, the benefit of, such institu-
tons 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 comprehen-
sive system of higher education in the
United States. Yours very truly.
"F. T. GATES.
"Mr. John D. Rockefeller, Jr., with
other gentlemen of New York City,
was instrumental in forming the Cen
eral Education Board in February,
1902. A very broad and admirable
charter was secured from Congress
and signed by President Roosevelt on
January II, 1908.
"a gift of 100000 O from Mr.. John
d. Rockefeller was Immediately passed
over to the board, especially, desig-
mated for educational work in the
South. Other funds have been added
by other philanthropists since that
time. and the board has confined its
work hitherto mainly to educational
work in the Southern States.
"The present gift differs from Mr..
Rockefeller's first gift to the board in
the following particulars:
1.-The principal sum of the gift of
100000 made on the organization of
the board could be distributed. The
present gift of $4,000, 600 is held as
endowment, the income only being
available for distribution.
1.-The first gift was designed to be
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 COM
non schools and secondary education.
The second gift is confined to higher
education and is designed specially for
colleges as distinguished from the great
universities, although there is no pro-
bibition in the letter of gift against
making contributions to universities.
Both gifts are alike available for
UNCONVENTIONAL schools as we'll as for
those which are non-sectarian. While
the funds may be employed for de-
nominStional schools, they will be en-
ployed without Sectarian distinctions.
No special denomination will be par
ticularly favored, but the funds will
be open to approved schools of all de
nominations, although they cannot be
employed for giving specifically theO-
logical instruction.
The present members of the board
are rs follows: Robert G. Ogden, chair
man; George Foster Peabody, treas
urer; Wallace Buttrick, secretary and
executive officer for the States south
of the Potomac and Ohio rivers and
Arkansas, Louisiana and Texas; Starr
J. Murphy, secretary and executive
officer for the States of the North
and West; Frederick T. Gates, Daniel
G. Gilman. Morris K. Jesup. Walter
H. Page, Albert Shaw, John d. Rookie
Teller, Jr., Hugh H. Hanna, William
r. Harper and E. Benjamin Andrews"