The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1906-12-14
THE NOBEL PEACE PRIZE
NORWAY STORTHING CoNFERS
1T ON THE PRESIDENT.
President Donates II as the Founda-
ton Of a Fund to Promote Indus.
trial Tranquility.

Washington-C. Hauge, the minister
from Norway, called at the White
House and informed President Roose-
welt that the Norwegian storthing had
coferred on him the Nobel peace prize.
A message to the same effect came
from Mr.. Loyeland the chairman Of
the Nobel committee, who conveyed
to the president hearty good wishes
and an expression of high esteem.
United States Minister PIERCE, at
Chrlstiania, had been told of the ac.
ton of the committee on Dec /, and
in advising the president profrcred his
profound congratulations "on this
well.meritcd recognition Of your great
and wise international policy" lie
asked that in compliance with the re-.
quest made by the Norwegian min.
lister Of foreign affairs, and If agree
able to the president, he be delegated
to receive the diploma, medal and
prize.
The amount OF money represented
in the prize Is 1896 crowns, or S37,-
l27G5.
Statement from the White House.
The following statement governing
the proposed disposition of the prize
money, which is said to be tentative
and subject to change as regards de-
tails, was made at the White House:
The amount of the Nobel peace
prize Will be conveyed by the presi.
dent to the trustees, to be by them
used as the foundation OF a fund, the,
income Of which shall be expended for
bringing together in conference at
Washington and especially during the
sessions OF congress- representatives
of labor and capital for the purpose
OF discussing industrial problems
with a view of arriving at a better I'M
derstanding between employers and
employees. and thus promoting indus
trial peace. The president with their
consent, will appoint as trustees OF
the fund the chief justice OF the Unit
ed States, the secretary OF agriculture,
the secretary of commerce and labor,
a representative of labor and a repre-
sentative Of capital. The fund will be.
conveyed to the trustees to be held
in trust for the following purposes
ITO invest and reinvest the prln-
cipal Of the fund; to receive any ad-
ditions which may come to 1t by con.
trlbutlon, and invest and re-lnvest
them; to pay over the income from
the fund and It's additions to a com.
mittee of six, to be selected by the.
trustees. two 70 serve one year,
two for two years and two for three
years, three of It's members to be
representatives of labor and three
OF capital, chosen for distinguished
service In the industrial world for
promoting righteous industrial peace.
and, to MI any vacancies which may
occur In this committee by selection
and appointment in the same manner
in which the committee is originally
selected. and appointed.
The committee of six to be called
The Industrial Peace Committee
shall have charge Of the annual and!
'''N' ''"i'A'hN'S IIbNlutu lOT under
other conferences provided for under.
the terms Of the foundation; shall re.
ccive suggestions for the subjects TO,
be discussed; shall lead the discussion
at and published the results OF the.
conference.
There shall be one annual confer.
ence, and the committee Of six shalt
be given authority to call special con.
ferences in case of great Industrial
crisis. The income paid over to the
committee by the trustees shall be.
used for the expenses incurred by
them In the performance OF their
duties. 1t shall be provided in the
terms OF the trust that the president
OF the United States shall mi the
vacancies which may occur in the,
number OF trustees"