The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1906-12-11
Norwegian StoTthing Awards Him
the Nobel Peace Prize Of
Nearly $4,000.
HONEY IS DISPOSED OF QUICKLY
Devoted to the Securing of Industrial
Peace at Home.
Eand Created, Trustees Named and
Scheme Formulated to Bring
Together Labor and Capt.
tai in Conference,

Washington, Dec. II. = c. Huge,
the minister from Norway, called at
the White House and informed Presl-
dent Roosevelt chat the Norwegian
storthing had conferred on him the
Nobel peace prize. A message to the
same effect came from Loevland, the
chairman Of the Nobel committee who
conveyed to the president hearty good
wishes and an expression of high es-
teen. The amount OF money represent
cd In the prize is $37, 1866. The
following statement governing the
proposed disposition of the prize
money, which is said to be
tentative,and subject to change as re-
gnrds details, was made at the White
House:
Fund for Industrial Peace.
'The amount Of the Nobel peace
prize Will be conveyed by the presl-
dent 10 trustees, TO be by them used
az the foundation OF a fund, the in
come OF which shall be expended for
bringing together in conference at
Washington - especially during the
sessions OF congress-represent
of labor and capital for the purpose
OF discussing Industrial problems with
the view Of arriving at a better under
standing between employers and en-
ployes, and thus promoting Industrial
peace.
Names the Proposed Trustees.
S'The president. with their consent,
VIII appoint as trustees of the fund
the chief justice of the United States,
the secretary of agriculture, the secre-
tary of commerce and labor, a repre-
sentative Of labor, and a representa-
tive of capital. The fund will be con
veyed to the trustees to be held in
trust for the following purposes:
Outlines Their Duties.
ITO invest and re-inyest the prlnci-
pal of the fund; to receive any addi-
lions which may come to it by con-
tribution, and invest and re-invest
them; to pay over the income from the
fund and its additions to a committee
of six, to be selected by the trustees,
two to serve for one year. two for two
years and two for three years, three Of
ite members to be representatives Of
iabor and three Of capital chosen for
distinguished service in the industrial
world for promoting righteous indus
trial peace; and to fill any vacancies
which may occur in this committee by
selection and appointment in the same
manner in which the committee is orig
inally selected and appointed.
Duties of the Committee of Six.
THE committee of six, to be called
The Industrial Peace Committee
shall have charge Of the annual and
other conferences provided for under
the terms Of the foundation; shall re
ceive suggestions for the subjects to
be discussed; shall lead the discussion
at and publish the results of the con
ferences. There shall be one annual con
ference, and the committee Of six shall
be given authority to call special con
ferences in case of great Industrial
crises. The income paid over to the
committee by thetrusteeS 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 fill the vacancies which may oc-
cur in the number of the trustees"