New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-02-10


was that Mr. Rockefeller had personally given
TO each of the six leading institutions Of that
kind an average OF $4,000 in the last three or
four years.
BOARD COMPILING INFORMATION.
The board has a force of experts at work all
the time obtaining and compiling Information
about the various educational institutions Of the
country The board aims TO be better ac-
ouainted with every college in the United States
than any member of its board Of trustees said
Mr. Gates THE information at the command
Of the board has many times astonshed the
president himself when he has come to search
our files for what we know Of his college
A fact not generally known is that many of
the most active philanthropists in the country,
who are constantly giving money for education.
are avang themselves OF the information of
the board. which they can obtain in other
way incidentally, Of course" said Mr.. Gates,
they invite suggestions which the experience
of the officers OF the board. particularly through
its secretaries. is able TO afford. Not few of
the recent gifts OF philanthroplsts have been
made in counsel with our secretaries"
Mr.. Gates said Of course he was at liberty
to give any names, but recent case was cited
where a trustee of a certain college. who came
to the rooms of the board with the intention OF
giving some SZO,OJo or so 10 ms COIieSe, aIltF
being convinced of certain other needs Of the
institution. put in legal form before leaving the
office gift OF $165000
Mr.. Gates said he would like to call this to the
attention of philanthropists and all contem-
plating educational gifts and added:
Our board may do nothing more than confirm
them in their previous purpose. or, as IN some
contemplated 1t is no rare thing for philanthro-
pists in different parts Of the country TO send Tor
officers visit them for counsel and advice.
This service We are always glad to render free of
entails obligation to accept it.
of money varying from 800 TO perhaps many thou
sands. 10 be transmitted TO some particular iDstitu-
station Should not TedeiSe funds All such funds
are forwarded 70 their destination or are returned
TO the donor without charge
ACTS AS TRUSTEE FOR GIFTS
Furthermore. phanthropists not nfreqgent!y de,
sire the board to act trustee Cor educational
come to partcuiar insttaons iedisaated by the
donor This is one of the functions Of cur board
are prepared to handle such funds with care. and
IS merely nominal indeed utterly Insignificant,
1t is Interesting in this connection to know that
the millions Of endowment handled hy the board
wise and dnigent administration OF our finance
committee, of which George Foster Peabody is the
ures are about $50.
You have a sort OF an educational trust com
pany," said one of Mr.. Gatess hearers Yes.
that is a good word for IT. broke in Mr.. But
trick. But It is not educational trust"
OF the 80 applications for aid now before
the board they have what they call choice" APP
plcations for some $1,6O0OO0. Under the terms
on which the institutions ask for this money"
said Mr.. Gates. they would have TO raise for
themselves about $S,O000O0."
Mr.. Gates said that until Mr.. Rockefeller made
some special designation for two-thirds Of the
S32,OOO,00O gift, and he might never make any
such designation the board was at liberty to
use the interest OF this money. Figuring that
the entire $43.OOOOO0 that by April l VIII be in
the hands of the board will yield per cent,
there wifi be income OF over $4,000 to be
used every year.
Although not replying directly TO the criticism
OF Mayor Johnson OF Cleveland, that Mr.. Rookie
felers gift simply bid for the perpetual
ton OF the special privileges Of the Standard
Oil interests and that IL in the future these were
threatened by the squeezing Of the water out OF
the stocks which he gives 10 the board, the cry
would go up that great educational interests de-
pended on the returns from the securities Mr..
Gates said:
Mr.. Rockefeller has made no provision that
we shall not dispose Of the securities. If We
At. We can handle them in any way TO get the
best returns HIS second gift Of S1O.OO0,OO0 came
TO US IN cash"