Daily press. [volume] (Newport News, Va.) 1896-current, 1905-07-01
John D. Rockefeller 'sees"Taf
negle's Princely Gift to Tie
\ National University. (
OIL MAN MAY G We SOME MORE
Sum TO Be useq as an Endowment for
Higher Education and is LIMITED
to Nc Section Of the United States
h Income is to Be Distributes ted by
the Board. sg
tIiy Associated press.l

q. ~ -thy ASSociatCu ITcSS.) .,tHi' z
! NEW YORK, June :;,O.2A gift Of
10000, 600 as an. endowment for
higher education in tho United States
has l.cen given the general education
board, by John d. ,foclsefoller Tho an.
no,iuccihcnt was blade by Or. Wallace
Buttcrck. of the board. at meet.
ing today. r
i The following letter TO the sccrc-
tarics and Executive officers OF The
board from i. r. Gates, Mr.. Rockcfc.
lcr's Representatives was given out
| fff nm authorized by Mr.. John D.
RocltefclIcr"loi say that he will con.
tribute to the general education board
the sum Of len million dollars (slO,-
f0uq,QoWs toI'bc paid ;Oct6ber lst, next
in t,lsh ,,oriat his option, in income pro
dpcins securities, NJ their market val
ue, he Principal To be held i'll per
pctuity rs a foundation for education,
the income above expenses and adj
| nlinistratfon tn lie distributed TO or
used for the benefit of such institu-
lions of learning at such times. in
such amounts, for such purposes and
un'lcr such conditions, or employed IN
lsliib ethsr M \, "a ~ the h.'a,i's a..;s
dci,nl hest n,aptc,lto promote Il COM
preliensive system of higher educa-
ton in the United States"
With the otter. the following state
1 mont VOC .,irn,, f,,,i.
I".Iohn d. Rockefeller, Jr., with other
gentlemen of this city was instru-
mcntql in forming. the general etluca-
ton board in February, 1902. a very
board and admirable charter was Sc.
| ou.'cd from Congress- and signed by
President Roosevelt on january II,
1903. |.ff4 q
| "A gift Of one million dollars from
Mr. John ID. Rockefeller was .immc,
diately passed over TO the board, espc-
cially designated for educational work
in the South, tHfs- Z
"Thc present gift differs from Mr..
Rockefellcrs first gift to the board in
the following particulars:
| '"'The principal sum of the gift of
81 ,000,000. made on the organization
board could lie distributed The princi.
pal gift of, $l0,000,O0O is held as an
endowmemt, the income only being
availablc for distribution.
| The first gift WAS designed to be
used exclusively in the Southern
States. The present, gift is for use
not only i'll the Southern States, bat
Throughout the United States, wit out
distinction of section.
'"rhc first gift could be used for
common schools ami secondary cduc:,-
ton. The second gift is. confined 10
higher education and is designed
specially for colleges as distinguished
from the great universities, although,
thcrc-is no prohibition in tile letter
of gift against making contributions
TO universities.
Both gifts are alike. available for
dcnominational schools as well as for
those which arc non-sectraian., While
the funds MAY be employed for de-
nominational schools they will be en-
ployed without scctarian distinctions.
No special denomination will bio pdr-
ticuarly favored, but the funds will
be open to approved schools of.all dc.
nominations, although they cannot he
employed for schools giving spociiical-
~ theological instruction.
In distributing the funds the board
will aim especially TO favor those in.
slitutions which are we'll located and
which have Il. local CONSTITUENCIES sui
,fcicntly strong and able to insure per-
mnnunt power No. attempt will h
made to rcsuscitate moribun1s schools
or TO assist institutions which, are SO
located tlst they cannot promise to
] be permanently useful.
| within these limits there are no
restrictions as to tho use Of The. in.
dome. Sr D. eisA 4.
'rf The fund proves to he ;s useful
as is now anticipated, Mi. Rockefeller
l.wlll automatically put large saddition5
to it in future years. sSS'
U { d "a