The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1907-02-08
A BIG GIFT TO
EDUCATION

EDUCATION
JoHN o. RocKEFELGER OPENS
UP HTS PURSE STRINGS AND
HANDS OVER a FORTUNE TO
THE GENERAL BOARD OF Epu.
CATION OF NEW YORK CITY.
NEW YORK Feb. s-Thirty.two
millions OF dollars worth OF income.
hearing securities was the gift which
John d. Rockefeller, through his son,
JohnsD. Rockefeller, Jr., announced
to the General Education Board when
it assembled for. a special meeting in
this city late yesterday afternoon.
For general educational purposes
throughout the country. is given as
the purpose Of this doaatton-tfbe iarg.
est single prize ever handed out for
such purposes.
MI. Rockefeller previously had Civ.
en- the board %s11.ooo.ooo for the same
work, his contributions now amount.
ing to s4a.eoe.oeo.
The general education board appa.
rently was not prepared for this gilt.
which was announced simply In this
letter:
New York. Feb, 6, 1907.
TO the Geenraf Education Board, l54
William street, New York City:
"Gentlemen:-My father authorizes
me to say that on or before April 1.
1907, he will give to the General Edu.
cation Board income.bearing securi.
ties, the present market value of which
is about thirty.two millions dollars,
one-third TO be added to the perma.
nent endowment of the board. two.
thirds 10 be applied to such specific
objects. within the corporate pur-
poses Of the board, as either he or I
may from time to time direct, any
remainder not SO designated at the
death of the survivor to be added
also to the permanent endowment of
the board.
Very truly,
JOHN D. ROCKEFELLER, Jr."
Most Of the members Of the board
were surprised at the announcement
and amazed at the size of the gtft.
DR.. Buttriclt, the secretary, said he
did not know the gift was to be made
until he received the letter. Other
members did not know OF the dona.
ton unit, the letter was read.
A special meeting Of the board was
called for to-day to consider a com.
munication from Mr.. Rockefeller, the
purport Of which was& not known.
John D. Rockefeller. Jr., acting for
his father, appeared shortly after the
meeting was called t. order and hand
ed the letter to the secretary, DR..
Wallace Buttrick.
John D. Rockefeller, Jr., remained
throughout the session Of the board.
Asked II he had anything to add to his
letter. he replied he did not believe
he conld add anything Of importance
to 1t, as the letter explained itself.
Members OF the board when asked
what the specific purposes" referred
to in Mr.. Rockefeller's letter meant,
said that it was in the line OF educa.
tonal work and was Intended, In their
opinion, to give MI. Rockefeller the
right to direct the disposition OF the
fund TO such institutions within the
province of the boara as he may deem
proper. The elder Mr.. Rockefeller is
not a member Of tie board, but his
son is a member and the active direc.
ton doubtless will come from him. !.
The board voted to accept the gift
and in appreciation drafted a letter
to the elder MIR. Rockefeller as fol.
lows:
The General Education Board ac-
k~nowledges the receipt of the com.
muntcattou Of February , 1907. from
Mr.. John D. Rockefeller, Jr.. a mem.
Der of this body. announcing your
aSSiNSA W bife W Tue Dbaru lot the
purpose Of its organization securities
of the current value OF, thirty.two mil.
lion daf'ors. The General Education
Board accepts this gift with a deep
sense Of gratitude to you and Of re.
sponsi6tiity to society. The sum, add
ed to the eleven millions which you
have formerly given 10 this hoard
makes the General Education Board
the guardian and administrator of a
total trust fund of forty.three million
dollars.
This, the largest sum ever given
by a man in the history of the race
for any social or philanthropic pur-
pose. TIE board congratulates yon
upon the high and wise impulse which
has moved you 10 this 6eed and de,
sires TO thank you. in behalf Of all
educafinna1f tntarastv ahaso aa,nta~