Daily Arizona silver belt., 1909-05-15
INTERESTING SKETCH OF RISE TO WEALTH AND POWER or
 ONE OF AMERICAS YOUNG
 SONS BORN IN oBscURITY.

NEW YORK, May l4.-More than ordinary significance attaches to the annual meeting begun in this city to- day by the trustees of the Peabody Ed. ucation fund. When George Peabody, the banker -philanthropist of Baltimore and London, died in 1869, he left in trust to a self perpetuating board of trustees fund of about two and half million dollars, "the income thereof to be used and applied in your discretion for the promotion and encouragement of inteflectual, moral and industrial ed. ucation among the youth of the most destitute portions of the southern and southwestern states of our union, my purpose being that the benefits intend ed shall be distributed among the entire population, without other distinction than their needs and the opportunities of usefulness to them"
 Power was conferred by the deed of trust on the trustees to distribute the fund st the expiration of thirty years, which period ended in 1897 In Janu- ary, 1905, the trustees decided, by a vote of eleven to two, to dissolve the trust. As a step to this end the trus- tees offered the sum of $1 100000 to the Peabody Normal college of Nashville, which has been the principal beneficiary of the fund, on the conditions that the institution change it's name to "George Peabody College for Teachers" and the state of Tennessee should add $250,0O0, the city of Nashville $200,- 900 and Davidson county, in which Nashville is located, should give $l00,- GOO, making the total endowment $l, 550,000.
 Several years were required to per suade the legislature of Tennessee and the common council of the city of Nashville to comply with the condi- tions. The work was finally completed In satisfactory manner several months ago, and nothing now remains but for the trustees to take the steps necessary to wind up the trust, which has been in existence forty-two years.
 The Peabody trustees who have be- fore them the task of winding up the affairs of the corporation include such eminent men as Chief Justice Fuller, J. Pierpont Morgan, Governor Hoke Smith of Georgia, Governor Ansel of South Carolina, ex-President Roosevelt, Jos eph H. Choate, ex.Secretary Olney and Bishop Lawrence of Massachusetts.
 The story of tho Peabody fund would not be complete without reference to- the great philanthropists rise to for tune. No American boy had less hopeful outlook for future success than George Peabody, who bas born in Dan vers, Massachusetts, on February IS, l79o. lis parents were hard working, religious people, who could do little for their children but provide them with food and clothes until they were able to look, out for themselves. George began to, assume this responsibility when he was eleven years old.
 Leaving his native town, he went to Post Mills, Vermont, and worked there a year. On his return he earned night a lodging at Concord N. H., by sawing wood. The journey was made on loot. Half century later he went oyer the same road, this time in car .riage, to Post Mills, and as mark of his attachment for the place, presented it with library.
 In 1911 he became clerk in his brother's store at Newburyport The store was destroyed by fire, and at the age of sixteen young Peabody found himself an orphan, out of work and without money or influence. In May, 1872, he sailed for Georgetown, near Washington, with an uncle, who went into business there, and took the lad in with him. >
 In 1874, at the age of nineteen, George Peabody went into partnership at Georgetown with Elisha Riggs, who