The Fulton County news. [volume] (McConnellsburg, Pa.) 1899-current, 1907-02-14
ROCKEFELLER's BIG
FUND FOR EDUCATION
Gives Securities TO General Educa
ton Board.
THInTY.Two MILLION DOLLAR GIFT.
Young Rockefeller, One Of the Trustees
of Board, Announces the Gigantic
Contribution in Brief Letter-The
Whole Amount in Income-bearing Sc
curities- Breaks All Record.

|
curities- Breaks All Record.
New York Especially A special
meeting of the trustees of the Cen
eral Education Board, held at the
Offices of the board, at "a William
Street in response to request for
the meeting from John d. Rockefel-
Ter, resulted in the reading of let
ter from Mr.. Rockefeller, in which
he announced to the board a gift
of S32, 100000 in income-bearing Sc
curities.
Surprise was expressed by the
board members when the letter was
presented by John d. Rockefeller, Jr.
They were amazed at the size of the
gift. None of the trustees had any
notion of the object of the meeting,
with the exception, perhaps, of Fred
erick T. Gates, who presided.
For general education purposes
throughout the country is given as
the purpose of this donation--the
largest single prize even handed
out for such purposes.
Mr.. Rockefeller previously had CIV
en- the board $11, 100000 for the
same work his contributions now
amounting to $43,000,000.
The meeting was opened with the
following in attendance: Frederick
T. Gates, chairman; George Foster
Peabody, treasurer; DR.. Wallace But
trick, secretary, and John d. Rookie
feller, Jr, Robert o. Ogden, Albert
Shaw, Starr j. Murphy, Edwin A. AL
derman and Harry Pratt Judson, d.
| G.. Gilman, of Baltimore, is a men,
ber of the board, but he was not
present.
Mr.. Rockefeller's Letter.
The letter which announced the
| gift for so vast a sum to help in the
work of the board in promoting edu-
cation in the several states of the
Union reads as follows:
February 3, 1907.
General Education Board,
81 William Street,
New York City
Gentlemen: My father authorizes
ME to say than on or before April /,
1907, he will give to the General
| Education Board income-bearing Sc
curities, the present market value of
which is about thirty-two million
dollars 1882, 2,000,0OO), one-third to
be added to the permanent endow-
ment of the board; two-thirds to be
applied to such specific objects with
| in 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 to the perma-
nent endowment of the board.
| Very truly,
(Signed)
JOHN d. ROCKEFELLER, JR.
! The members of the board which
| has previously received gifts aggre-
eating about $11,000,000 from Mr.
Rockefeller. after general felicita-
tions over the donation of it's fund,
prepared the following acknowledge
ment, which will be sent to the donor
tomorrow:
The Boards Acceptance.
Mr.. John D. Rockefeller,
New Yory City.
Dear Sir:
The General Education Board ac-
knowledges the receipt of the COM.
munication of February 3, 1907,
from Mr.. John d. Rockefeller, Jr.,
a member of this body, announcing
your decision to give to the board
for the purpose of its organization
securities OF the current value of
$32 900, 900. The General Educa-
tion Board accepts this gift with a
deep sense of gratitude to you and
of responsibility to society. This
sum, added to the 81 100000 which
you have formerly given to this
board, makes the General Education
Board the guardian and administra-
tor of total trust fund of SAB, ,000,-
| 600.
This is the largest sum ever given
by man in the history of the race
for any social or philanthropic pur-
pose. The board congratulates you
upon the high and wise impulse
which has moved you to this deed
and desires to thank you, in behalf
of all educational interests whose
development 1t will advance, in be-
| half of our country whose civiliza-
tion for all time 1t should be made
to strengthen and elevate, and in be-
half of mankind everywhere in whose
interest IL has been given and for
whose use it is dedicated.
Far-Reaching Responsibility.
The administration of this fund
entails upon the General Educa uon
Board the most far-reaching respon-
sibility ever placed upon any edu-
cational organization in the world
AS members of the board we accept
this responsibility, conscious alike
of its difficulties and it's opportuni-
ties. We will use our best wisdom
to transmute your gift into intel
lectual and moral power, counting
it a supreme privilege to dedicate
whatever strength we have to it's
just use in the service of men,"
Very respectfully yours,
(Signed)
FREDERICK T. GATES,
Chairman;
GEORGE FOSTER PEABODY,
Treasurer;
mr. WALLACE PITTTERICK