The Birmingham age-herald., 1910-03-04
Plans of Rockefeller Foundation Will Be Carried Out By
 Oil Magnats's Son
PEOPLE WILL BE AIDED
 THROUGH MANY CHANNELS
Other Charitable Organizations Are to Receive Benefits And Financial \ World Will Also Profit In Time
 Of Great Need

New York, March 3.--Among charities the Rockefeller foundation is to become what the Standard oil company has long been among corporations and John D. Rockefeller, Jr., as it's head, will in an- other sphere of influence perpetuate the domination so long maintained in the world of industry by John D. Rockefeller, sr., as president of the Standard oil interests.
 The junior Rockefeller announced that he had recently retired from the direc- torate of the Standard interests to as- sume the management of his fathers s benefactions of which he thus becomes alroner in chief.
 No successor has been named to i'll his place in the oil company.
 The announcement was taken in Wall street to mean two things. One that all past estimations of young Rockefellers future must now be revised, and that hereafter the Rockefeller millions will no longer be a market factor Instead, it is assumed and asserted, they will pass wholly into conservative securities. such as it is proper for trust funds, savings banks and insurance companies to ac- quire.
 John D. Rockefeller, Jr, is now SS years of age.
 Greeted on his graduation from Brown university some years ago as in prospec- tive the richest young man of the world Ne now leaves the field to | Pierpont Morgan Jr., three years his elder.
 MT. Morgan. Sr.. and MT Rockefeller, sr., are both very nearly of one age. The former will be B years old in next April and the latter was 70 last July. Both are in vigorous health
 Seen in retrospective, young Rockefel- lers retirement from the Standard Oil hoard. which actually took place Jan uary il. it is declared assumes a deeper consistency with the gradual narrowing in recent years of his financial activities, A phenomena not heretofore known, as he has shown no inclination to play the mart of a country man, or sporting man-at-large, as other sons of milliona1res have emulated, such as Alfred Wander bilt and Foxhall Keene are credited with.
 He is still on the directorate of the Delaware Lackawanna and western Railway company and the American Iinseed Oil company, and it is known if is his intention to withdraw from these as soon as possible. Ills con nection with corporate finance Tn the future, it is asserted, will chiefly con sist in conserving the huge fortune amassed by his father, reinvesting the income and distributing such part of 1t as may seem wise.
 It Is not thought likely that the new foundation for philanthropy as pro- nosed by the bill introduced in the limited States Senate yesterday will as- sume settled policies for years to come hut in this connection Frederick T. Gates, one of the incorporators of the foundation. said today that two main points had been missed.
 .In the first place" indicated MT. Gates every other eleemosynary in- etitltion has been organized for some specific object and thus limited in its sphere of helpfulness. For instance, in, cases of grave disaster, such as the Paris floods. they have been powerless to aid. This is not SD of the new foundation"
 twill be there will be no sectarian bounds in the new charter of the foun- datfon and nothing will be found to prevent 1t from absorbing work of oth CT organizations which have outlived their usefulness under present condi- tions."
 MT Gates was understood to mean that there would be a gradual rier- ger along familiar lines of the Rocke feller charities. Nobody yet ventures to name the amount for which the foundation will be endowed but the general understanding among those. In the confidence of the family concides with that of Senator Gallinger, who introduced the bill to incorporate the foundation when he said that he be- neved the bulk of the Rockefeller for tune would be devoted to the work.
 John D. Rockefeller's influence in the stock market was potent ono dur ing the 1907 panic when he helped out many financial institutions as we'll as being heavy buyer of securities at that time. Presumably. it is said his fortune will continue to be of much In huence at similar times in the future. but 1t is stated that ordinarily it is likely to be felt in the stock market only through purchases of securities for the purpose of investing accrued in