The Washington times., 1905-01-25
FUND
TO Be DISSOLVED
Million Appropriated for
Teachers School.
BOARD MEETING YESTERDAY
Fight on Proposition to End Trust.
Finally 1t Is Voted,
However.
BOARD MEETING YESTERDAY

After an existence of over thirty-seven
years, the Peabody Education Fund is
TO be dissolved
This was decided at q meeting of the
board OF trustees held yesterday at the
Arlington Hotel.
Almost one-half of the fund now re-
naming viii go to the George Peabody
School for Teachers, at Nashville. Tenn
The trustees voted unanimously 70 ap-
propriate s101e.e0e for this Institution.
While the vote TO appropriate 1850 900
to the great Southern normal school was
unanimous, there was some stubborn
opposition to the proposition TO dissolve
the trust. The vote as finally taken
stood II to p President Roosevelt who
is one Of the trustees ex ofticio. attended
the meeting for more than an hour. and
voted in the affirmative on both propo-
sitions.
Thirty seven Years Ago.
The trust, established IN 1861 left
s., 500 0oG fer the purpose of encouraging
and building up public school systems
throughout the South Unfortunately,
about 81 $50 600 OF the original sum was
in Mississippi and Florida bonds the
former beir.g repudiated, and the latter
never recognized, as they Were issued
before Florida was admitted as a State.
This left a fund OF about s, 200 600, the
interest on which has been distributed
every year by the trustees. Last year
about S106 600 was distributed, l. is said
As soon as the South recovered from
the financial and educational retrograde
caused by the reconstruction, and be-
gan to take UP the public school ques-
tion itself the trustees decided that the
objects of the fund in this direction
had been accomplished, and turned the
proceeds of the fund toward the train
ing of school teachers.
Yesterdays Assembly.
| The fund was left in charge of fifteen
/ trustees, and Robert C. Winthrop, OF
Massae ehusests, was the first chairman
| The trustees present yesterday were:
| Chief Justice Fuller, Of the United
| States Supreme Court, president Of the
/, board: President Roosevelt. DIR. D. C.
1 Gilman. OF Baltimore, second vice pres
! ident: J. Pierpont Morgan. of New
| York; DR.. Samuel A Green. of Boston,
| general agent OF the fund; NJ. K. Jes-
| up, of New York; ex-Secretafy OF State
/ Richard Olney. of Massachusetts,; the
Right Rev William Lawrence, OF Mas
sachuse:ts; ex-Gov. James d. Porter, OF
! Tennessee; Henderon NJ Sonervilie. OF
New York; William a Courtney. Of
| South Carolina. Senator George Pea
body Wetmore, of Rhode Island, and
! Charles E Fenner, of New Orleans
Joseph H Choate, United States am
bassador to Great Britain. first vice
president: Hoke Smith. of Georgia, and
the Right Rev Wilisana &. Dodne, Were
| the absent members
The trustees met IN secret session, and
first took voIe upon the proposltlon 70
adopted after considerable discussion,
end then il was decided to give the
Peabody School for Teachers s., eoa eoe-
/ Conditions Named.
This appropriation, however, : as made
upon certain conditions, the most i'm
portant of which is the raising of GER
tain contributions by the State OF Ten
! nessee and the city of Nashville
II is understood that the State and
IC:ty and The county of Davidson are
willing 10 raise 81 900. 600 to meet the ap-
preparation of the trustees, giving the
school an endowment of over coo
and making IL the greatest institution OF
| its kind in the South
II NAV BE- year Yet before this ap.
preparation is available, but il viii moi
be longer than that time A committee
. was appointed to consider the diSiribu
, Jion OF the balance of the fund. 81 200
coo. 1t is understood that almost all, i
net the entire aroount, of this Will b'
= distributed among educational institn
tions In the South
The trustees propose TO make tn
teachers college at Nashville someJhin:
like the Barnard College in New York
e and when the plans are completed i
, viii doubtless be one OF the finest edu
cational institutions in the country.
: Scholarships will be distributed among
n the various States for graduates of col
g leses and normal schools who desire L
!. become teachers Tie training will b
{ along the lines of preparing the stu
: dents to become great educational lead
| erS in the South.