The daily morning journal and courier., 1906-12-11
WILL USE PEACE PRIZE
 TO PROMOTE PEACE CAUSE
AMOUNT OF NOBEL AWARD m BE PLACED IN HANDS OF
 TRUSTEES.

President Issues Statement from th.
 White HOuse-WiII Create Fomrd.-
 tion of 2 Fund the Income os WI.
 VIII be Expended in the Cause oe
 Industrial Peace-Conference PIanned
 Each Year During Session of Con.
 gress Between Representatives oe
 Capital and Labor.
 Washington, Dec. Administer {. Hauge of Norway to-day called at +he White house and informed presidart Roosevelt that the Norwegian storth- ing had conferred on him the Nobel peace prize. A message to the same effect came from MT. Leevland. the chairman of the Nobel committee. whn conveyed to the president hearty good wishes and an expression of high esteem
 United States Minister Pierce at Christiania had been told of the ac- ton of the committee on December and in advising the president. unof- fered his profound congratulations Hon this well merited recognition of your great and wise international policy" He asked that in compliance with the request made by the Norwegian min ister of foreign affairs, and if agree able to the president, he be delegahed to receive the diploma, medal and prize. The amount of money represent ed in the prize is 138,5S6 crowns. or $S7,127.65.
 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 president to 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. especially during the sessions of con- gress, representatives of labor and capital for the purpose of discussing industrial problems with the view to arriving at a better understanding be- tween employers and employees, and thus promoting industrial peace. The president, with their consent, will ap- point as trustee of the fund the chief justice of the United States the secre- tary of agriculture, the secretary of commerce and, labor, representative of labor and a representative of capi- tai. The fund will be conveyed to the trustees to be held in trust for the following purposes:
 "To invest and re-inyest the prin- cipal of the fund; to receive any ad- ditions 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 cona- mittee 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 its members to be rep resentatives of labor and three of cap ital, chosen for distinguished service in the industrial world for promoting righteous industrial peace, and to fill any vacancies which may occur in this committee both selection and appoint ment in the same manner in which the committee is originally selected and appointed. The committee of six. to be called The Industrial Peace Committed shall have charge of the annual and other conferences provided for under the terms of the foundation: shall receive suggestions for the slib-
 (Continuad oy ESf+h DO ro TT