The Fulton County news. [volume] (McConnellsburg, Pa.) 1899-current, 1905-02-01
PEABODY TRUST CLOSES
The Board Of Trustees Vote to Take
This Action.
SCHOOL FOR TEACHERS BENEFITS
The Vote on the Question Of DlssoIvlng the
Peabody Trust Followed Considerable Dis
eussion- Several Members Expressed Very
Positive Opposition to the Motion to Dlss
soIvc--Vote Was n 10 Z.

Washington, d. c. tSpecial) The
trustees Of the Peabody Education Fund
met at the Arlington Hotel here and
voted TO dissolve their trust. A vote
also was taken on the proposition to
appropriate $T,ooo,ooo for the Ceorge
Peabody School FOR Teachers at Nash
vile, Tenn, ard it was unanimously
carried.
The vote on the question dssolvine
the Peabody trust followed consider{
able discussion. Several members exs
pressed very positive opposition to the
motion to dissolve, and when the votf
was taken j, stood II 10 ?.
President Roosevelt, who is member
Of the board of trustees, came over from
the White House and remained almost
an hour, taking part in tho deliberations
of the board. J. Pierpont Morgan, who
came from New York last night, res
maincd throughout the session, and the
others present were Chief Justice Full
Ter, of the Supreme Court of the United
States; x-Secrctary of State Richard
Olney. OF Massachusetts Morris K
Jesup, OF New York: ex-Gov. James
d. Porter, OF Tennessee; Senator Geo.
Peabody Wetmore OF Rhode Island;
Charles z. Fenner, OF Louisiana; Hem
derson NJ. Somervile, of Alabama; Will
liam A. Courtney. of South Carolina \
Rt Rev. William Lawrence, of Massa-
chusetts; DR.. Daniel c. Gilman, of Bali
timore, ex-president OF the Johns Hop
kins University, and DR.. Samuel 4.
Green, of Boston.
Chief Justice Fuller presided at the
meeting The absentees were Ambas-
sador Joseph Choate. at London; exc
Secretary OF the Interior Hoke Smith,
who was detained by an important law
case, and Bishop w. c. Doane, whose
brother, George Doane, was buried at
Newark, N. J., today. The meeting
| closed i'll the afternoon, when the fol-
lowing statement was given out:
By two-thrds vote it was resolved
that the time had come to close the
trust Thereupon, ST. 100000 was appro-
priated to the George Peabody College
for Teachers in 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 Rooses
welt voted afirmatively on both prop,
ositions, that is, TO close the trust and
to make the SI,ooo,ooo appropriation.
| The trust was created by Mr.. Pea,
body February 8, 1867, and amounted IA
! $3,oooooo but almost 100000 of this
was in bonds issued by the States Of
Florida and Mississippi and subsa
quently repudated The fund today Il
approximately, therefore, $2,2oo,ooo. The
trustees were given power to distribute
this fund at the expiration OF 30 years,
which period ended in 1897, and since
then number of questions have arisen
as 10 the distribution. The State OF
| Tennessee, Davidson county and Nasll-
vile recently offered a bonus of ST.
ooo,ooo provided the Peabody trustees
would appropriate a rourd million doll
lars for the Peabody College for Teach
ers.
The details OF this appropriation will
now be worked out by a committee. u
leaves fund of approximately $780,.
600, which will be distributed later
among other educational institutions,
probably at the next annual meeting,
which will be held the first Wednesday
| in next October in New York.