Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1912-11-22

IBv Morning Journal Special Irrsed Wire
I New York. Nov. 21.--l'uture ex-
| presidents Of the Cnited states are te
be pensioned in the sum Of $4,000
annually by action of the Carnegie
Corporation of New York today The
grant is provided for with the idea OF
enabling former executives OF the ma
tion to devote their unique knowledge
gained in public affairs TO the public
| good Gree from pccuniary care. A
| similar amount is to be paid widows
of cx-presidents as long as they re-
main unmarried.
The pension is to he promptly Of
fered to the ex-presidents or theft
| widows so that no application will be
required from them.
The announcement formed the Sec
ond annual meeting of the corpora
ton, held at the residence OF Andrew
Carnegie here.
Five Of the eight trustees are the
heads of the five institutions which
Mr. Carnegie has founded--the Car
negic Endowment for International
Peace. Elihu Root. president; the
Carnegie Foundation for the Advance
ment of Teaching, Henry $. Prltchett.
president; the Carnegie Institution of
WASHINGTON. Robert s Woodward,
president: Carnegie Hero Fund Com
mission. Charles l.. Taylor, president; ;
Carnegie Institute of Pittsburgh, Will
liam NJ. Prew.5 president, The sue
cessors of the five men become eX-
officio trustees of the Carnegie Cor
poration Of New York In addition
there are three life trustees. The
trustees authorized this statoment
"A total Of S125.000, 900 in securi-
ties has thus FAR been transferred to
the corporation. which win carry on
the various works in which Mr.. Car
negie has been engaged ana such 9th
ers as he may from time to time
think it advisable to establish. Mr..
Carnegie believes he has taken the
surest means Of securing for the flu
ture a body of the best possible irus-
tees. The heads Of the institutions
must bc men Of high moral and intel
lectual standing. rheN are cmpow-
cred by a two-thrds vote to modify
or discontinue any branch of the
service which in their iudgme ment has
become inadYisablc ar unnecessary or
If better use can he made of the
funds, and also to ADOPT from time to
time such work as by them may be
most desirable for the wants of the
age, so that from age to age the
FUND may be expended upon the most
profitable work. whether that be the
promotion OF new ideas or the deNel- !
opment Of those Of the day"
The trustees took under consider
alton number of matters directly n
lheir Keeping and concerning the de- |
tails Of which no announcement WAS
made, but the principal one to be
passed on was the pension plan for
ex-presdents Of the United States |
ana their widows. The official am
nouncement covering the matter fol- /
lows
Provision has been made through |
ms corporation for pension for each
futitrc eN-president or his unmarried !
widow. of twenty-five thousand dol
ars tS25.00O) per year, rs long az
hey remain uhproti ided for by the
nation. that they may be able to spend |
ne latter part Of their lives devoting I
heir unique knowledge gained Of pub
ic affairs to the public good free
rom pecuniarx ca~es. These pen
'ions Will he promptly offered to the
-N-prcsidents or thoir widows. 50
hat no application VIII be required
IF thept