The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1911-08-31
ONCE MILLIONAIRE,
GIVES. AWAY LAST
OF HIS PROPERTY
DR.. Pearson Goes Pen
niless to a SAM
tariuln
AIDED COLLEGES
AIDED COLLEGES
Has Given Away All of His
$4,000, 900 to Small
Schools

Schools
Chicago.~-Dr. -. *. p~carsons.
plilanthropisl, who has distributed
a fortune OF million dollars in
bonoticences. made his last gift to-
day. He gave the town of ~Hinsdale,
a suburb, his residence and five
acres OF ground. valued at $4,000.
for library purposes.
With the bestowal of the residence
ard grounds. to be maintained as IA
public library, art gallery and park.
Doctor Pearsons accomplished what
he longed planned, the distribution
of all his wealth for the benefit OF
humanity.
Announcement of the gift was
made to several citizens of Hinsiale.
whom Doctor Pearsons had Summon
ed to his home. Entering ON his
ninety-second year with failing
health. Doctor Poarsons will leave
his home to spend the remainder of
his days at a Hinsdalc sanitarium,
to which he goes almost penni!ess.
He made his fortune in Chicago real
estate.
His Views on Wealth.
~ grave is IA poor investment"
Doctor Pearsons said recently. "A
coffin is no place to keep our money.
\ last will only makes some lawyer
happy. Best spend your money
yourself. After you are dead yonr
heirs Will.
u eve spent $40 foolishly i'm all
my life. never went to a theater
but once. and then | felt ashamed OF
myself. I've been ashamed of my
self ever since. never attondes, a
ban game, never saw a horse race,
never danced, Played p%inochle, bill
lizards or bought chances at u church
fair. I've slept with NV windows
wide open, lived on Vegetables only,
kept my mouth shut and my ewes
open. | made my money by saving
and I've foHnd my pleasure in CIV
ing. And I've made others give as
we'll. There are a lot OF rich old
fossils scattered over this country
who would never have thought of
letting so of a dollar if had not
forced, it on them. That makes me
happy, too"
Years ago he determined to his
w satisfaction that the small col
lcSe WAS of value in the United
States as cut of proportion to the
university. He had just settled tfat
in his mind when he left Chic
oNcc, Mass, for the West, He was
10 wears old, had practiced medicine
for nineteen years and had $4,000 in
cash and a wife. In the stage ccacl,
approaching Bcloit, Wis, "a fellow
passenger sneercd at the fresh water
college which had just been estab-
iisacd there. He and Doctor Pear
sons fell into argument that round
UP il fist shaking.
YOU'RE d fool" was Doctor Pear
sons shouted conclusion. Those
litt'c colleges are the lifeblood os
tic SITE. ] am going to become a
Very rich man, and I'll give freely
to them
He became very rich. abandoned
the oi,l box for the abstract lists,
and in the sale Of real estate made
so much money it frightened him.
Hc devised a new plan for the bust
nsTe, He always told the truth
bout land. whether he bought OF
sold. Investors used to deal through
him, getting a new thrill with each
acre under his system. When he
WAS 20 he had more money than
some farmers have corn. He and
his Wife We're o~ld-fashioned. sedate.
conservative folk. who rarely ap-
peared in society and, lived on a
$500 a year scale. 1t was then
that he determined to give all his
money away before he died.
The following are some of Dr..
Pearson's gifts.
Berea College, Kentucky ..s30o.ooo
Doane College, Nebraska. $4,000
Beloit College, Wisconsin,. 100000
Antoleo College. Turkey. 100000
Drury College. Missouri. $4,000
Illinois College, Illinois,. 10000
Fargo College. No. Oak. 10000
Lebanon College, Illinois. 10000
Fairmont College, Kansas. $4,000
Whitman College, WASH. $4,000
McKendree College. Ill.,. $4,000