The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1905-07-03
NO STRINGS TO ROOKIE
FELLER'S pRINGELY GIFT
OIL King Presents 100000 to Edu.
cations cause--All May
Benefit.

-
cause Of education. The money was
given straight. with very few restric-
ticns, TO tho General Education
Board, an organization Of prominent
men working under a special charter
from Congress.
IN Its breadth and scope, this is
probably the largest single subscrip.
ton ever made for the purpose of col
iesiate education In this country. 1t
is 70 be an endowment for higher ed.
ncation in the United States and is de-
signed 10 help the smaller colleges
which lack the prominence of the
strictly university Institutions, like
Harvard and Yale.
The announcement was made by DR..
Wallace Buttrick, one of the secreta.
ries OF the General Education Board,
In the form OF the following letter
from r. Gates. Mr.. Rockefeller's
personal agent in all matters relating
to public .beanests:
am authorized by Mr.. John D.
Rockefeller to say he will contribute
to the General Education Board the
SUM Of $40, 100000, to be paid October
1. next. cash. or at his option, in In
come producing securities, at their
market value, the principal to be held
In perpetuity as foundation for ed.
ucation. the iacome above expenses
and administrator to be distributed
TO or used for the benefit of such in
stitltipns of learning, at such times,
in such amounts, for such purposes
and under such conditions or employ
ed IN such other ways as the board
may deem best adapted to promote
comprehensive system of higher edu.
cation in the United States.
Purpose Of Gift.
With the letter of the following
statement was given out:
John D. Rockefeller. Jr., with other
gentlemen Of this city, was instru.
mental in forming the General Edu.
cation Board In February, 1902. A
very broad and admirable charter was
secured from Congress and signed
BY President Roosevelt on January 12.
1903.
4 gift Of 100000 from Mr.. John
ID Rockefeller was Immediately pass.
ed oyes to the board, especially desig-
mated for educational work in the
South. Other funds have been added
BY other nhfianthropists since that
time and the board has confined its
work hitherto mainly to educational
York IN the Southern States.
he present gift differs from Mr..
Rocxafeller's first gift to the board
IN The following particulars:
The principal sum of the gift OF
<l.oco,ooo made on the organization
Of the board could be distributed. The
present gift of s1O.oo0,9O0 is held as
snfowment, the income only being
available for distribution.
= Tue first gift was designated to be
used exclusively in the Southern
States. The present gift is for use
throughout the United States.
The first gift could be used for
common schools and secondary edu.
cation The second gift is confined to
higher education and is designed spe.
ciaify for colleges as distinguished
from the great universities, although
there is no prohibition in the letter
OF gift against making contributions
TO universities.
Both gifts are alike available for de-
nomfnational schools as we'll as for
non-sectarian.
In distributing the funds the board
win aim especially to favor those in
stitutions which are well located and
I which have local constituency suf.
ticiently strong and able to insure per-
mauence and power.
No Restrictions.
Within these limits there are no re-
strictions as to the use of the income.
II may be used for endowment, for
buildings, for current expenses, for
4 debts, for apparatus or for any other
purpose which may be found most ser.
yiceable.
II is known Mr.. Rockefeller has had
< This gift in contemplation for long
time and Mr.. Gates has been study
ing the subject in his behalf for many
months. II the fund proves to be as
nseful as is now anticipated, Mr..
Rockefeller will undoubtedly make
large additions to 1t in future years.
:. The present members of the board
are as follows: Robert C. Ogden,
chairman; George Foster Peabody,
treasurer; Wallace Buttrick, Secre.