Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1910-12-21
TEN MILLIONS
FOR CHICAGO
UNIVERSITY
ROCKEFELLER ANNOUNCES
FINAL GIFT TO SCH00!
Kerosene King Withdraws His
representatives From Board
of Trustees; Says People
Should Control Institution,

IBy Morning journal Special Leased WireI
Chicago, Dec. 20.--John d. Rocke-
feller has completed the task he set
for himself in the founding of the
University of Chicago. Today, public
announcement was maze of a Single
and finar' gift of $10.0OO,000. which
concludes all the contribution Mr.
Rockefeller had planned.
This sum, to be paid in ten, annual
installments, beginning January l.,
will make approximately $35,0OO,O0
he has donated to the university.
Mr.. Rockefeller says he now be-
leves the school should be supported
and enlarged by the gifts of many
rather than those of single donor.
This he believes, will be better ac-
complished If the public understands
the limit of his contemplated assist
ance. The founding of new depart
ments he leaves to the trustees, as he
says funds may be furnished by other
friends of the university.
Up to now nearly s7,0OO,0OO has
been donated to the university in ad-
dition to Mr.. Rockefellers gifts.
With the announcement of Mr..
Rockefeller's final donation, came the
resignation of John d. Rockefeller,
Jr, and Fred T. Gates, Mr.. Rockefel-
ler's personal representative, from the
university board of trustees. In en-
closing these designations, Mr. Rookie
feller explained he was carrying out a
conviction that the institution should
be controlled conducted and sup
ported by the people" with whom up
to now he had been simply co-operat-
ing.
Mr.. Rockefeller's idea, as it is un-
derstood, is that he is turning over
the institution and it's endowment to
Chicago and the west. and in so doing
withdraws from any. further repre-
sentation in its control
The announcement Of the gift was
made at the quarterly convocation at
the university this afternoon.
The gift was announced in letter
to the president and trustees. 1t says:
New York, Dec. 13, 1910.
ITO the President and Trustees or the
University of Chicago.
Dear Srs: l have this day caused
to be set aside for the University of
Chicago from the funds of the gem
eral education board which are sub
ject to my disposition, income bearing
securities of the present market value
of approximately ten million dollars,
tht same to be delivered to the uni
versity in ten equal annual INSTALL
ments, beginning January /, 1911,
each installment to bear income to
the university from the date of such
delivery only.
"A list of these securities is append
ed herewith. In a separate letter OF
even date my wishes regarding the in
vestment and uses 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.
This l have recognized from the
beginning, and. accordingly. have
sought to assist you in enlisting the
interest and securing the contributions
of many others, at times by making
my own gifts conditional on the gifts
of others, and at times, by aiding you
by means of unconditional gifts to
make the university as widely usetul,
worthy and attractive as possible.
Il desire to express my apprecia-
ton also of the extraordinary wis
dom and fidelity which you, as presl-
dent and trustees, have shown in con-
Quoting the affairs of the university
In the multitude of students so quick
ly gathered in the high character OF
the institution, in the variety and ex-
tent of original research, in the Valu-
able contributions to human knowl-
edge in the uplifting influence OF the
university as a whole, upon educa-
ton throughout the west, my highest
hopes have been far exceeded.
1T is these considerations, with
others, that make me to sum up in q
single and final gift, distributing IT'S
payment over a period of many years
to come. such further contributions as
| have proposed to make to the uni
versity.
The sum I now give is intended to
make provision, with such gifts, as
may reasonably be expected from
others, for such added buildings
equipment and endowment as the de
partment thus far established VII
need. This gift completes the tasF
which | have set before myself. Th'
founding and support of new depart
ments for the development OF th'
varied and allurng field of applied
science. including medicine, | leave
TO the wisdom of the trustees as fundi
may be furnished for these purposes
by other friends of the university.
In making an end Of my gifts L
the university. as / now do, ana IL
Withdrawing from the board of trus
tees. my personal representative
whose resignation i enclose, ] am act
ing on an early and permanent con
viction that this institution being tn
property OF the people. should be con
trolled. conducted and supported D.
the people. in whose generous effort
Tor its upbuilding / have been per
mitted simply to cooperate; ana
could wish TO consecrate anew TO IN
great cause of education the fund
which I have given. If that We're pos
sible; to present the institution a sec
ond time. insofar as | have aiding Il
founding Il. to the people of Chicag
and the west; and to express my nope
that under the management and wit
their generous support, the universit
may be an increasing blessing to then
10 their children. and to future gen
eratiOns.
Very truly yours.
tSignedl
John u. ROCKEFELLER-'
President Ryerson Of the board g
trustees, after making announccmer
Of the gift said.