The Idaho Springs siftings-news., 1905-07-08
GIFT OF ROCKEFELLER
TEN MILLIONS FOR EDUCATION.
Income to Be Disbursed by General
Education Board-May Be Used
Tor any Educational Purpose.

NeW l0rk. July 1.-Ten million dol
lars an an endowment for higher edu-
cation IN the United States has been
given The General Education Board by
John d, Rockefeller. The anonunce-
ment was made by DR.. Wallace Butt
rick OF the board at meeting yes
terday.
fhe following letter 10 the secre-
taries and executive officers of the
board from F. T. Gates. Mr.. Rocke-
feifer preventative. was given out:
"26 broadway, New York. June 80.
19oo.-Tc Messrs. Wallace Buttrick
ami Starr ]. Murphy. secretaries
and executive officers, General Edu-
catien Board. New York:
"Deaer Sirs-I am authorized by Mr..
John y. Rockefeller to say that he will
contrihute TO the General Education
Board the sum of si0,000,000. to be
paid October list next. in cash. or. at
his option In income producing securi-
ties al their market value, the prin-
cipal TO be held in perpetuity as a
Foundation for education, the income,
above expenses and administration. TO
be distributed TO or used for the bene-
fit of such institutions of learning. at
such times. in such amounts, for such
or employed in such other ways as
the board may deem best adapted TO
promote comprehensive system of
higher education In the United States
(Sieued1 "F. T. GATES"
Witt the letter the following state
ment was given out:
John d. Rockefeller Jr. with other
gentlemen of this city. was instru'
tot rF. he
ton Board in February. 1902. very
broad and admirable charter was Sc
cured from Congress and signed by
PresideHt Roosevelt on January IL.
1908
"A flft of $1,000 600 from Mr.. John
ID. Rockefeller vas Immediately passed
over to the board. especially desig-
mated Tor 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;
THE principal sum Of the gift oil
81 ,000, 900 made on the organization oil
the board could be distributed. The
present gift OF s1o,000.000 is held as
endowment. the income only being
available for distribution.
The FIRST gift was designated TO DC
used exclusively In the southern
states. The present gift is for use not
only In the southern states. pu'
throughout the United States, without
distinction OF section.
THE first gift could be used Tor com
mon schools and secondary educa'
tions: the second gift is confined to
higher education and is designed espe.
cially for colleges as distinguished
from the great universities, although
there is no prohibition In the letter
of gift against making contributions 10
universities.
Both gifts are alike available Tor
denominational schools as wen as iof
those which are non-sectarian. Whlle
the funds may be employed for demon
national schools. they Will be EN-
plOyed without sectarian distinctions
No special denomination will be par
ticularIy favored. but the funds VIII pe
open to approved schools OF all De
nominations. although they cannot be
| employed for giving specifically theo
logical instruction.
Within these limits there are nc
restrictions as to the use OF the In
come II may be used for endow
ments. Tor buildings. for current en
penses. for debts. for apparatus. Tor
| any other purpose which may De
! found most seryiceable.
III is known that Mr.. Rockefeller
has lad this gift in contemplation for
I a long time and Mr.. Gates has been
studying the subject in his behalf for
mans months. II the fund proves as
/ useful as is now anticipated MT
Rockefeller undoubtedly will make
| large additions to il in future years.
The present members OF the board
are as follows: Robert c. Ogden
chairman: George Foster Peabody
treasurer; 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 exec.
/ ntlye officer OF the states north and
west. Frederick T. Gates. Daniel 9.
Gilman. Morris X. Jessup, Walter IL
Page, Albert Shaw, John ID. Rockefel-
/ Ter Ir.. Hugh II. Hanna, William H.
! Harper and +. Benjamin Andrews.
There are four vacancies IN the
hoard. which are expected to be 1iled