The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-02-08

major way Des1Enafc-is Largest
Educational Gift ON Record,
New York. Feb. IA special meeting
Of the trustees Of the general education
board. held at the offices Of the board, at
81 William street. this afternoon, in re-
sponse TO a request for the meeting from
John d. Rockefeller, resulted in the read
ing Of a letter from Mr.. Rockefeller in
which he announced a gift TO the board
Of S52,OJ90O0 in income-bearing securities.
There was much surprise from the board
members when the letter was presented
by John d. Rockefeller, jr. None Of the
trustees had any notion Of the object Of
the meeting with the exception, perhaps.
Of Frederick T. Gates, who presided.
The meeting was opened with the fol-
lowing in attendance: Frederick 7.
Gates, chairman. George Foster Pea body,
treasurer; DR.. Wallace Buttrick. secre-
tary, and John D. Rockefeller, IT,, Robert
c. Ogden. Albert Shaw, Starr J. Murphy,
Edwin a Alderman, and Harry Pratt
Judson.
The letter, which announced the gift OF
so vast a sum to help in the work Of the
board in promoting education in the sew
eral States Of the Union, reads as follows:
February 5. 1907.
General Education Board.
"a William street, New York City.
Gentlemen.
Ny father authorizes me 10 say that
on or before April !. 1897 he viii give to
the General Education Board income
bearing securities, the present rket
value of which is about thirty-two million
dollars tS3200,oGO. one-third TO be added
10 the permanent endowment Of the
board, two-thirds to be applied TO such
specific objects within the corporate DOW
ers of the board as either he OF I MAY
from time 10 time direct. and any remain
der not so designated at the death of the
survivor 10 be added TO the permanent
endowment Of the board.
Very truly.
John D. ROCKEFELLER. IR."
Has Already Given sII. 900. .OO0.
The members IF the board, which has
previously received gifts aggregating
about $11mG00 from Mr.. Rockefeller
after general fluctuations over the dona-
tion TO its fund. prepared the following
acknowledgment. which viii be sent to
the donor tomorrow.
Mr.. John D. Rockefeller. New York CITY:
Dear Sir: The general education
board acknowledge the receipt of the
communication, of February 3. 1897, from
Mr.. John u. Rockefeller, ir. a member
OF TINS body, announcing your decision 90
give 10 the board for the purpose of its
Ff y.gff f4F1 Of
value Of S51.0oo.Cuo. The general education
board accepts this gift with a deep sense
or gratitude 10 You. and of responsibility
70 society. This sum. added 10 the Sil CO.,
eco which YOU have formerly given 10 this
board. makes the general education board
the guardian and administrator of "a total
trust fund of $i300o0Co
Board Acknowledge Responsibility.
This is the largest sum ever given by a
man IN the history of the race for any
social or philanthropic purposes. The
board congratulates you upon the high
and wise impulse which mas moved YOU 10
this deed, and desires 10 thank you. in be-
half OF all educational interests whose
development it will advance. in behalf Of
our country whose civilization for all tim,
it should be made 10 strengthen and ele-
yate. and in behalf of mankind every
where, IN whose interest fl has been
given, and for whom il is dedicated.
THE administration OF this fund entails
upon the general education board the
most fdT-reaChing responsibility ever
placed upon any educational organization
in the world. As members of the board
we accept this responsibility. conscious
alike Of its difficulties and its opportuni-
ties We viii use our best wisdom 10
transmit 10 your gift Intellectual and moral
power, counting ii a supreme privilege 10
dedicate whatever strength we have 10 its
just use in the service of men,
Largest Educational Gift.
Immense as the general education
boards endowment was before. by the
addition announced yesterday the re-
sources at the disposal of the board is the
largest sum ever given for an educational
or philanthropic purpose
In IS67-lS69 the Peabody education fund
of S3500o0o. to be devoted to education in
the Southern States was established bv
George Peabody.
The Rhodes scholarship fund was
founded by the viii of the late Cecil
Rhodes. in which the South African dia-
aside for scholarships i'm oxford. The
money at the disposal of the general edu-
cat0nal board, therefore. is more than
four times as great as the Rhodes fund
and just twelve times as great as the
Peabody gift
The members Of the board seemed to b,,
in ignorance of the nature of securities
presented to the board to-day by Mr.
Rockefeiler. and said they could give no
information about the gift or even as TO
the nature of its disposal. further than
the money is TO be devoted to the general
purposes of the board, TO promote educa-
tion in its various forms i'm the United
States in as systematic and effective a
way as possible.
start Of Rockefeller Contributions.
Mr.. Rockefeller announced his first gift
to the board in March. 1s1a. OF S1.00010.
This initial gift, st was specified, was 10
be used particularly for the study aud
promotion of education in the Southern
States. The second gift from Mr. Rookie
feller in June. 1893. in which he announced.
to the board "a contribution of x10.OC0G0O
as a foundation for education. the income
above the expenses of administration 10
be used for the benefit of such institu-
tons Of learning to promote "a compre-
hensiVe system of higher education I'm
the United States.
In October, 1895. the SlO,O09,O0O was paid
10 the board in cash and was named eThe
John d. Rockefeller fundation for higher
education From the income Of this
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