Los Angeles herald., 1910-12-21
OIL KING MAKES
UNIVERSITY FINAL
GIFT, S10,000,000
Rockefeller Completes Plan He
Announced at Founding of
Institution in Chicago
URGES SUPPORT BY FRIENDS
Total Amount of Donations for
Educational Purposes Ap-
proximates $35,000,000
URGES SUPPORT BY FRIENDS
IAssociated Press


CHICAGO, Dec. 20.-John D. Rookie
feller has completed the task he set for
himself in founding the University Of
Chicago.
Today public announcement was
made of a "single and finaP' gift Of
s10,000,000, which includes all the contri-
buttons Mr.. Rockefeller had planned
This sum, to be paid in ten annual In
stallments beginning January l, will
make approximately 35,000,000 he has
donated to the university.
Mr.. Rockefeller says he now believes
the school should be supported and en-
larged by the gifts of many rather than
those of single donor. This, he be-
lieves, will be better accomplished II
tho public understands the limit Of his
contemplated assistance.
The founding of new departments he
leaves to the trustees, as he says funds
may be furnished by other friends.
Nearly $7,000000 has been donated to
the university in addition to Mr.. Rock
efellers gifts.
ROCKEFELLERS SON RESIGNS
With the announcement Of Mr.. Rock
efellers final donation came the resig-
nation of John D. Rockefeller, jr., and
Fred T. Gates, Mr.. Rockefeller's per-
sonal representatives, from the univer-
sity board of trustees. In enclosing
these designations Mr.. Rockefeller ex~
planned he was carrying out q convic-
ton that the institution should be
controlled, conducted and supported
by the people," which whom up to now
he had simply been cooperating.
Mr.. Rockefellers idea, as 1t Is I'M
derstood, is that he Is turning over the
institution and its endowment to Chi
cago and the west, and in so doing
withdraws from any further represen-
tation in its control.
Announcement of the gift was made
at the quarterly convocation at the uni
versity this afternoon in the following
letter to the president and trustees:
GIFT APPRoxDIATEs s1O.OOO,OO0
1T have this day caused to be set
aside for the University Of Chicago
from the funds Of the general education
board which are subject to my disposal
income bearing securities of the present
market value Of approximately $10,00O,-
900, the same to be delivered to the unt~
versity In ten equal installments be-
ginning January l, 1911, each install
ment to bear income to the university
from the date OF such delivery only.
"a list of these securities Is appended
herewith. In a separate letter of even
date my wishes regarding the invest
ment and use of the fund are more
specifically expressed. 1t is far better
that the university be supported and
enlarged by the gifts of many than by
those of a single donor.
Most heartily do I recongnize and
rejoice in the generous response OF citi-
zens of Chicago and the west. Their
contributions to the resources of the
university have been, 1 believe, more
than $7,000,000. 1t might perhaps be
difficult to find a parallel to generosity
so large and so widely distributed as
this, exercised in behalf of an instltu-
ton so recently founded.
FINAL AID FOR UNIVERSITY
"In making an end Of my gifts to the
university, as I now do, and in with
drawing from the board of trustees my
personal representatives, whose resig-
nations I enclose you, 1 am acting on
an early and permanent conviction that
this institution, being the property of
the people, should be controlled, con-
Quoted and supported blythe people. in
whose generous efforts for its upbuild-
ing I have been permitted simply to co.
operate; and I could wish to conse-
crate anewto the great cause of edu-
ctaion the funds which I have given If
that were possible; to present the instt~
tuition a second time, in so far as I
have aided in founding it, to the people
of Chicago and the west, and express
my hope that, under their management
and generous support, the university
may be an increasing blessing to them,
to their children and future genera
tions. Very truly yours,
JOHN D. ROCKEFELLER."