Evening journal., 1910-10-25
new NEWS OF YESTERDAY
The Layman Who Taught a
Yale President
By "HolIsnd."

When Arthur Twining Hadley be-
came president of Yale University. be-
ing elected TO that Office at younger
age than any of nis predecessors, he
knew that one of the most important
Of tee duties that lay immediately to
hand was the raising Of the bicenten-
NAL alumni fund Of one million dol
lars. For il was hoped and expected
that Yale would be able 70 celebrate
its two hundrcdth anniy arsary not
only with formal ceremOaies, but by
the announcement that a fund of one
million dollars had been raised
The young president started out to
secure this fund. What was at first
enthusiasm on his part was followed
by something like despair. untii NJ
last he called upon one OF the most
enthusiastic Of the alumni Of Yale. NJ
G. ID. Borden of Fall River, Macs, the
largest cotton manufactures in the
United States. Mr. Borden heard pa
tiently the young presidents narra-
tion of the difficulty lie had met with
I'm securing pledges.
Arthur" he said, at last. you are
expert authority on economies and on
railroad management and accounting
But you have got something 10 learn
about the way 10 collect q big fund
Of money. Yon never ywill ge. your
million dollars if you continue in the
way you have begun"
What then, shall I do.' the presi-
dent OF Yale asked.
That's exactly what ] am going TO
tell you,' Mr.. Borden replied. There's
good deal of human nature to be
studied if you're going to raise a
large fund of money. Now, what you
must do first is to get four or five or
even six men to say they will con-
tribute the larger part Of the fund.
When you have got pledges of that
kind. you will be astonished to see
how quickly other rich men will fall
into line That's the human nature
of giving.
But where am l to find four or five
or six meng Yale's president asked.
81 am going to show you, / will be
one Of six men to pledge in all six
hundred thousand dollars. You shall
have the other pledges within two Or
three days. Then, when you have
them. you will see how quickly others
will join the procession. and you shall
get your million within month"
Here was a new philosophy of life
for the new president of Yale. But he
knew from Mr.. Bordens manner that
it was a correct philosophy
On the day following Mr. Borden
met Frederick w Vanderbilt, an
alumnus of Yale. Fred" he said %Id
like to have you be one of the six
who are going TO contribute six hun
dred thousand dollars for Arthur Had
ley's bicentennial fund"
1T would give me the greatest
pleasure" responded Mr. Vanderbilt
Mr.. Borden next called upon three
other graduates Of wealth, and he had
simply to repeat the request he had
made to Mr. Vanderbilt to get their
subscriptions. Then, within a few
hours, he called upon James ]. Hill,
whose sons We're graduates OF Yale.
81 won't do 4" said Mr.. Hill, at
first
"Oh. yes you will" was the reply
and after some further conversation
Mr. Hill offered TO give Twenty-Five
thousand dollars. He was told that
/ that wouldn't do. Then he offered 10
give fifty thousand dollars. but w,
told that that amount also was too
small. Along in the small hours of
the morning Mr.. Hill yielded, so that
within three days the fund of six hun
dred thousand was raised.
Take that. Arthur" said Mr. Bor-
den the next day, "and well see IL
was not correct"
The young president of Yale, going
forth with the pledges of six men for
six hundred thousand dollars, found
that 1t was even as Mr.. Borden had
said. Other rich men stepped up
quickly, so that they might he IN time
to join the procession; and almost be-
fore President Hadley realized it
Yale's bicentennial alumni fund of a
million dollars was secured to the
last dollar.
Copyright. 1910, by E. J. Edwards
All rights reserved.)
Tomorrow Mr.. Edwards will tell
GTVhu HotIVIa Noupd His Horeo tEau-