The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-02-08
GIFT
OF ROCKEFELLER
Thirty-TWo Million Dollars
Worth of Income Bearing Sc
CuritieS for Education.
HAS NOW GIVEN S43, 100000
LARGEST SUM EVER HANDED
OUT FOR LIKE PURPOSE.

New York. Feb. 7.-Thirty-two million
dollars worth of income bearing securi-
ties was the gift which John ID. Rockefei-
Ter through his son, John D. Rockefel-
Ter, Jr.. announced to the general educa-
ton board when it assembled for a special
meeting here today
The gift. which is the largest single sum
ever handed out for such purposes. will
be used for general education purposes
throughout the country. Mr.. Rockefeller
had previously given the board sll.OOO.00O
Tor the same work. his contributions now
amounting to S43 0O0. 900.
Ihe general education board apparent
~ wds not prepared for this gift which
was announced simply in a letter from
John ID. Rockefeller, jr., to the board. IN
which he said:
My father authorizes me to say that
ON or before April l. 1907. he will give
to the general education board income
bearing securities. the present market
value Of which is about $32. 600 900. one
third 70 be added TO the permanent en-
doWment of the board: tWO-thirds to pc
applied TO such specific objects within
tho corporate purposes of the board as
either he or I may from time to time di-
rect, any remainder not so designated at
the death of the survivor to he added
also to the permanent endowment of the
board
Members OF the board were amazed. say
ing they did not know of the donation
until the letter was read.
a special meeting of the board was
called for today to consider a communi-
cation from Mr. Rockefeller. the purport
Of which was not known. John d. Rookie
Teller. jr., acting for his father, brought
Asked if he had anything to add to this
letter he replied he did not believe he
could add anything of Importance to it,
as the letter explained itself.
hon saclrQ hot he. -
purposes referred 10 i'm Mr.. Rockefeller $
letter meant. said that it was i'm the line
of educational work and was intended. in
their opinion. to give Mr.. Rockefeller the
TO such institutions within the province
OF the board. as he may deem proper.
Gift Accepted.
The board voted to accept the gift. and
in appreciation drafted a letter to the
elder Mr.. Rockefeller.
This is the largest sum-" wrote the
board to Mr. Rockefeller. ever given by
man in the history Of the race for any
social or philanthropic purpose The board
congratulateS YOU upon the high and wise
impulse which has moved you to this
deed and desires to thank you i'm behalf
of all educational interests, whose devel-
opments will advance; in behalf of our
country. whose civilization for all time
IT should be made to strengthen and ele-
vate. and in behalf of mankind every
and for whose use il is dedicated.
THE administration Of this fund entails
upon the general education board the
most far-rcaching responsibilities ever
placed upon any educational organiZati
in the world. We will use our best wis
dom TO transmute your gift into intelec-
tual and moral power. counting il a su-
preme privilege to dedicate whatever
strength we have to its just use in the
service of men,"
While the board was in session today.
gifts to five colleges were ordered.
amounting i'm all TO 100000 as follows:
BelOit college. Beloit. Wis: Morningside
college. Sioux City. Ia; Lafayette college
Easton. Pa, $4,000 each: Wabash col
lege. Crawfordsville. Ind. and the Uni
versity OF Wooster, Wooster. o. each
s125. 900
In 1903 the general education board was
chartered by congress II employs a force
Of experts in the continuous and system
attic study OF educational conditions i'm ell
parts OF the United States It's object is
promoting education I'm the various states
by means of gifts and otherwise
The organization was adapted to assist
Mr.. Rockefeller i'm the distribution of his
gifts to education: but it was not intend
ed TO limit the work OF the board 20 the
administration of funds given by him
said Chairman Frederick r Gates. who
explained the purposes Of the organiza-
ton.
Former Gift of 100000.