Gilpin observer., 1905-07-06
GIFT OF ROCKEFELLER
TEN MILLIONS FOR EDUCATION.
Income to Be Dlsbursed by General
Education Board-May Be Used
for any Educational Purpose.

income TO BE pisbursed by General
Education Board-May Be Used
for any Educational Purpose.
New York, 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 a meeting yes
terday.
The following letter to the secre-
taries and executive officers of the
board from F. T. Gates, Mr.. Rookie
feller's representative, was given out:
"26 Broadway, New York. June 30,
1905.-To Messrs. Wallace Buttrick
AMI Starr ]. Murphy, secretaries
and executive officers, General Edu-
cation Board. New York:
"Deaer Sirs-I am authorized by Mr..
John ID. Rockefeller to say that he will
contribute to the General Education
Board the sum of $10,O0O,0O0, to be
paid October 1st next in cash, or, at
his option, in income-producing securi-
ties at their market value, the prin-
cipal to be held in perpetuity as
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
purposes, and under such conditions,
or employed in such other ways as
the board may deem best adapted to
promote a comprehensive system OF
higher education in the United States
(Signed.) "F. T. GATES"
With the letter the following state
ment was given out:
John d. Rockefeller Jr., with other
gentlemen of this city, was instru-
mental in forming the General Educa-
tion Board in February, 1902. A very
broad and admirable charter was Sc
cured from Congress and signed by
President Roosevelt on January IL,
1903.
"A gift of s10OO,00O from Mr.. John
D. Rockefeller vas 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..
Rockeleller's first gift to the board
in the following particulars:
The principal sum of the gift OF
$1,000, 900 made on the organization OF
the board could be distributed. The
present gift of $1O,000,00O is held as
endowment. the income only being
available for distribution.
"The first gift was designated 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
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 to
universities.
Both gifts are alike available for
denominational schools as we'll as for
those which are non-sectarian. While
the funds may be employed for denom-
national 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.
within these limits there are no
restrictions as to the use OF the in
come. 1t may be used for endow-
ments. for buildings, for current ex-
penses, for debts, for apparatus, for
any other purpose which may be
found most serviceable.
ct is known that Mr.. Rockefeller
has had this gift in contemplation Tor
long time and Mr.. Gates has been
studying the subject in his behalf for
many months. II the fund proves as
useful as is now anticipated Mr..
Rockefeller undoubtedly will make
large additions to it in future years.
1.-The present members of the boGid
are as follows: Robert c. Ogden.
chairman; George Foster Peabody,
treasurer; Wallace Buttrick, secretary
and executive officer for the statet
south of the Potomac and Ohio rivers.
and Arkansas. Louisiana and Texas;
Starr j. Murphy, secretary and exec
utive officer of the states north and
west: Frederick T. Gates, Daniel c.
Gilman, Morris X Jessup. Walter II.
Page. Albert Shaw, John d. Rockefel-
Ter Jr., Hugh H. Hanna, William X.
Harper and z. Benjamin Andrews.
There are four vacancies in the
board. which are expected to be filled
later"