Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1910-03-04
OIL
METHODS IN
CHARITY
ROCKEFELLER DOMINATES
WORLD OF PHILANTHROPY
John D, Jrp 10 Direct DiStribu-
ton Of Huge Benefactions
Provided for Under Million
Dollar Foundation,
tBy MORNING JournaI sD-.Isl s.saaea wlrsl

!
New York, March Among chari-
ties the new Rockefeller foundation is
to become what the standard oil
company has long been among cor
porations and John d. Rockefciler
Jr., as its head viii, in another sphere
Of influence perpetuate the domina-
ton 50 long maintained in the world
Of industry by his father
The younger Rockefeller announced
today he had reccas.y retired from
the directorate OF the Standard oil
company TO assume the management
of his fathers hencfactinns of which
successor has been named to nh his
place In the oil company
The annauncement in wall street
was taken to mean Two things-wthat
al past estimates Of roung Rockefel-
lcr's future must now be revised and
that hereafter the Rockefeller millions
viii no longer he market factor. IN
stead it is assumed they win pass
wholly into conservative securities
such as il is proper for trust funds
savings banks and insurance COM
panies 10 acquire.
John -. Rockefeller. Jr is now 33
years old. Greeted on his gradua-
tion from Brown university some
years ago as in prospect the richest
young man In the world, he now
leaves the field to J PieIpont Nor
gan, Jr.,~tcn years his elder Mr.
Morgan. Sr. and Mr. Rockefeller, Sr.
are both very near of an age. The
former Will be 75 in April and the lat
ter was 20 some moths ago Both arc
in vigorous health.
Young Rockefeller's relations with
corporate finance IN the future. it is
viii consist chiefly in con-
: rving the huge fortune amused by
his father, re-inyesting the income
ana distributing such part Of 1t as
may seem Wise
1t Il not thought likely that the new
foundation for philanthropy as PRO
nosed by the bils. introduced in thc
United states senate yesterday will as
sunc settled policies fer years to
ONE, but in this connection Frederick
T. Gates, one OF the incorporators Of
HE foundation. said today that two
main points had been missed.
IN the first place. indicated Mr.
iates, every other eleemosynary in
has been organized for some
Ipecific object and thus limited in its
phere Of helpfulness.
Another thins-thefe are no Sec |
arian boundary lines in the charter
IF the new foundation and nothing 60 /
prevent II from absorbing the work Of /
'ther organizations which have out
lived their usefulness under present
onditions.'
Mr. Gates was understood to mean
hat there viii be a gradual merger
long familiar Rockefeller lines of the
rockefeller charities The general un-
crstanding among those in the confi-
ence OF the family comedies with
hat of Senator Gallnger who intro
uced the bill to incorporate the foun-
alton when he said that he believed
Ultimately the bulk of the Rockefel-
sr fortune would be devoted to the
'ork.
--ssScsas.;sS- s-ssSsse-s
ne members had been smgged, be- I
luse he cut prices The witness COM /
lained that he had paid the sluggers I
nd had not been able to get reim- \
ursement from the "moonshiner's" I
(
The witness declared that in the /
st year 1000 pounds in disposing I
about 1000 pounds Of unlawfully
'lored oleomargarine. II
William BroadWell, after telling how s
2 happened to get into the business I
coloring oleomargarine, described ( 4
ethods used to dodge revenue coll
ctors. At one time he said he had d
ftcen tubs of oleomargarine stored a
the MoNlev plant and when the +
venue collector made a raid on his i
ace he had the stuff shifted from
ace to place n
The witness said me WAS president Of
e Associa ton of "Oleo Moonshincrs' {
hich was organized in 1907 The or
ni2ation Kept books concerning
cir dealings but finally the members
cided to have the books burned -
Broadwell testified that an employc =
the MoXley plant showed him how IA,
use the coloring and that John -,
Idle son-in-law Of MoNicy, ALWAYS =.
ok care of a bond for him when he T.
rs arrested. IA
It is expected tho grand jury in
stigation viii begin Monday. In