The daily morning journal and courier., 1905-06-29
MILLIONS TO YALE John D. Rockefeller Gives One and Alumni Another ---Gifts Announced
 by President
 Hadley. Co ID ENDOWMENT FUND
TWO NEPHEWS OF RoGKEFEL-
 LER YALE GRADUATES.

Only Condition Underlying His Dona-
 ton Is That ssThe Money Be Invested
 in Income Producing Securities and
 Preserved Inyiolate as Endowment
 For the Institution, the Annual In-
 come Only to be Used for Current Ex-
 nenses.-The Two Millions Only the
 Rerinnine of the Fund Which Must
 be Doubled in the Next Year if Yale
 is to Maintain Her Position in the
 Educational World. } F..
 At the annual dinner of the Yale alumni yesterday afternoon in the din- ing hall the chief feature was the an nouncement by President Hadley that Yale. university has just received from John D. Rockefeller one million dollars. At the announcement the alumni broke out into the widest cheering, clapping and yelling. It was several minutes before pr. HadIey could go on to say that the only condition of any kind un- deriving the gift is that the money is to be invested in income-producing se- curities and preserved inviolate as en- dowment for the institution, the annual income only to be used for current ex- penses." The enthusiasm at this state ment was almost as great as before. When President Hadley said that there was not, as usual, condition requiring a. like amount, there was some amuse- ment. But this was quickly changed to the widest enthusiasm when he con- tinued saying that such condition could be met, as prominent Yale grad uates have also subscribed a million, making a total of two million dollars. In addition to this the annual contribu- tions of the various classes this year amount to $62,475.59, But President Hadley stated that these two millions were to be considered merely the begin snirlgs of an endowment fund which must at least be doubled in the next year, if Yale was to maintain her posi- ton in the educational world. But these immense gifts, he said, would put Yale on her feet again Two nephews of Rockefeller are graduates of Yale.
 All of the speakers referred to the effect of the alumni fund in bringing the graduates together and making them all feel that they still had an in- terest in the university. In this con- nection President Hadley remarked that five-dollar check toward the fund was from missionary on the other side of the earth t..
 The first to enter the hall for the dinner were the president and corpora tion, who took seats at a raised table irl the center opposite the door towards Wood dbridge hall by which they entered. On this table were the only decorations --vases of white carnations and blue bachelor buttons Then the classes en- tered and took seats in the order of their graduation. Grace was pronounce ed by Rev. Dr. Twichell, of Hartford, after which the alumni, to the number of ], 1925, sat down to dinner. -s
 After the diners were satisfied, Pres ddent Hadley, saying that his speech as toastmaster would come last named the speakers of the afternoon. These were Henry w. Taft, ,~ M. A., 80, a leader of the New York bar; Hon. Hen ry E. Rowland. M. A., '54, of New York; Rt. Rev. Frederick W. Keator, bishop of Olympia, Wash; President Edwin A. Alderman of the University of Virginia.
 In his address MT. Taft said he was impressed iby ebing his fathers son and his brothers brother, but nothing had ever impressed him as had the commencement exercises of yesterday morning. It reminded him of the op- timism and self-confidence he had at his commencement, how he settled the worlds questions, and how compara- tively prudent and halting his views were now. If this feeling of confidence of the undergraduates could be main tained even after twenty-five years the world would be better for it. So, he said, he feels more deeply his debt to Yale, and is raising 8 race of men to send there. Some say that standards in college have changed, that they are worse, but they have only kept pace with the outside world. It is time that
 
 ders has passed. Now the question is, Is man honest, brave, true, faithful to Yale. But the balance between them will soon come.
 Touching on athletics he, said he wished that a Yale man might never ba suspected of foul play. He was glad that managers always listened to ad- vice. Tn conclusion he remarked on the good effect of the alumni fund, it's pre- servation of Yale's democracy, and the participation in it of the women friends of Yale, a custom to be en- couraged. s<
 MT. Taft was enthusiastically ap- plauded, and then Judge Rowland was called on. He was extremely witty, us- ing many stories to illustrate his points. He said he, too, was impressed
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