The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1907-02-15
GREATEST GIFT
EVER BESTOWED
FOR THE CAUSE or EDUCATION
IN GENERAL FROM JOHN D.
ROCKEFELLER.
THlRTY-Two MILLIONS IN
INCOME BEARING SECURITIES
Donated to the General Education
Board at New York Through His
Son, John o. Rockefeller, Jr.s the
Action Coming Somewhat as Sur
prise.


millions Of dollars worth of income
bearing securities was the gift which
John d. Rockefeller, Jr., announced 70
the General Education Board when II
assembled for a special meeting in
this city late today. .t ...
Mr.. Rockefeller previously had Civ
en- the Board $11, 900 900 for the same
work. his contributions now. amount
ing to $4s,OOO.OOO
The General Education Board APP
parently was not prepared for this
gift, which was announced simply in
this letter:
NEW YORK, Feb. 6,-General Ed
ucation Board, New York-Gentlemen:
My father authorizes me to say that
on or before April |, 1907, he will give
to the General Board income bearing
securities, the present market value
of which is thirty.two million dollars
$4,000, 000), one-third to be added to
the permanent endowment of the
Board; twothirds to be applied to such
specific objects within the corporate
purposes of the Board, as either he or
/ 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,
..rArYNy - nDrtLYINuoLHT 7 ND
Most of the members of the Board
were surprised at the announcement
and amazed at the size of the gift. DR..
Buttrick. Secretary, said he did not
know the gift was to be made until he
received the letter Other members |
did not know of the gift until the let
ter was read
John D. Rockefeller, Jr., remained
throughout the session of the Board.
Asked if he had anything to add to his
letter, he replied he did not believe he
could add anything of Importance to
it, as the letter explained itself
The Board voted to accept the gift
and. in appreciation, drafted a letter
to the elder Mr.. Rockefeller, as fol
lows:
THE General Education Board &C
knowledges the receipt of the commun-
ication of Feb. 6, 1907, from John D
Rockefeller, Jr., member of this
body, announcing your decision to
give to the Board, for the purpose of |
its organization, securities of the
value of thirty-two million
dollars (S92,O0O,O00). The General
Board accepts the gift with
a deep sense of gratitude to you. The
sum, added to the eleven million dol
lars ($11,000,000) which you, have for
merly given to this Board, makes the q
Eeneral Education Board the guardian
md administrator of total trust fund 2
If forty-three million, dollars ($43,000, i
,O0). 3
This is the largest sum ever given u
~ a man in the history of the race 2
or any social or philanthropic pur- 4
'oses. The Board congratulates you 3
pom the high and wise impulse which q
as moved you to this deed and de- 8
Tres to thank you, in behalf of all ed 3
cational interests, whose develop q
1ents it will advance, in behalf of our 8
ountry whose civilization for all y
me it should be made to strengthen 3
nd elevate, an in behalf of mankind a
in whose interests it has 8
cen given, and for whose use it is Y
~
Eminent Men. 20
The members of the Board who will 8
minister Mr.. Rockefeller's immense &
ft. include some of the best known B
lucators, financiers, publishers and 8
in the country. g
While the Board was in session to- 3
W gifts of five colleges were ordered y
mounting to 100000, as follows 8
Beloit College, Beloit, Wis; Morning q
de College, Sioux City, Ia; Lafay- 3
te College, Easton. Pa; $4,000 each; 8
abash College, Crawfordville, Ind, g
ID the University Of Wooster o., 3
oh $t25,OO0. s
In 1908 the General Education Board 8
Is chartered by Congress. 1t EN- g
Tvs a force of experts In The study 8
educational conditions in all parts 8
the United States. g
rhe organization was adopted to as. 8
t Mr. Rockefeller In the distribu- 8
n of his gifts to education But 1t 3
S not intended to limit the work Of 8
! Board to the administration of y
Ids given by him. It was rather B
signed to meet a wider need and 70 q