The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-03-04
Its Lead, However, Will Be
Transferred to Sphere
OF Charity.
YOUNG R0CKEFELLERAT HEAD
Heir to Worlds Greatest Fortune
Announces Retirement From
Standard Directorate.

New York. March 3.-Amons chart
ties, the new Rockefeller Foundation is
10 become what the Standard Oil Com
pany has long been among CORPORA ora
lions. and j. y. Rockefeller IT. as as
It's head, Will in another sphere 81
influence perpetuate the domination SO
long maintained In the world OF INDUS
try by John D. Rockefeller, ST.. as
president OF the Standard; the .souils !,
he had recently retired from the di-
rcctorate OF the Standard 10 su.ae
the management of his fathers bene-
factions, Of which he thus pecot ',a .
Been named to fiji his place IN the oil III
company, and from fifteen the ooarH
has been cut to fourteen. !,
The announcement was taken IN " az, !
Street to mean two things: In ta1, o. !
past estimates Of young Rockefelier
future must now be revised and TIM, !,
hereafter the Rockefeller millions VII
no longer be a market factor. ln ls,.1'.:
it is assumed they will pass Wholly }.
into conservative securities. such as u
Is proper for trust funds, savings banks
and Insurance companies to acquire:
John d. Rockefeller, Jr.is now&t hlr-
ty-three years old. Greeted on ms
graduation from Brown u l5,art e i !,
s sI.Ie Young man OF the world. he
now leaves the field to J. Pierpont
Morgan, ar, three years his elder MT,
Morgan ST., and Mr.. Rockefeller. ,,S 81.
are both very neariS Q, an l,,,v and the
latter was seventy-three some m9nths
ago. Both are In vigorous health.
Phenomenon EXpintncu.
Seen in retrospeGr yo thn t sPahdnrd
Oh board, which actually took place
IN January H. assumes a deeper con-
sistency, Will, the gradual narrowing
In recent years Of his financial .ac-5
tivities-a phenomenon n3t nei ienIiuas
tion TO play the country gentleman or
the sporting man.q as have other sons
Of millionaires. such. for instance. as
Aired Vanderbilt and ToXhall lAeene
Delaware, Lackawanna and West er y;
Railroad Company and of the Ameri-
can Linseed Oil CompanS, but IT Is
known that 1T is his intention 70
withdraw from these corporations, also.
as soon as prac ticable.
Hts relations With corporate t1nance
in the future. it Is understood, Will
chiefly consist in conserving the huge
fortune amassed by his father. rein
yes5in as the inseme ana aiztrieutns
II is not thought likely the new
posed by, the bill introduced in the {,
United States Senate Yesterday, WI y
uSSllleyi SclllcdF Hs pO1tCleSf45A ul SVa' =
come, but in this cOnnec-ion, 3flrederlG
q. Gates, one of the incorporatora
cfstl,cfoundation, said to- day that Two
main points had been missed,
In the first place.. indicated MI ~
Gates, EVERY other eleemosynarS ms ms. y < !.
ituriona has been organized :or sos.e
specific object. and thus limited IN l "
sphere or helpfulness. For instance. ~
cases OF grave disaster, such as the
Paris I>lloods, they have been y poWer-
less to aid. This is not SO OF INC ~ new
N''''Ss's No Scctnrian Lines.
.Anothcr thinS-'rhe ere are no secta-
NJ, = 'homndary lines in the charter of
t,'as foundations, and nothing to
,,revent it from absorbing the Work
3oofsother organizations which have out
lived their usefulness under present
Nh. Gates was understood tosmean
tia there will he a gradual merger
aiong familiar lines OF tho Rockcfeller
charities. Nobody vet ventures to name
the amount for Which the foundation
Will be endowed, but the genera l,l-
sderstandtng among those in the conti-
sdencn OF the family colncides with
that OF Senator Calling er, who intro
duccd the hill to incorporate tho foln-
5dation. when he said that lie believed
ultimately tile hulk Of ~ lie Z Rookie fel-
Ter fortune would be doYoted TO Il lie
work. is sS;s
tho stock ma rlset was III a d not ii t one
during the; 100 panic wllcps .ha hell