The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1915-04-21
Mayo Foundations Purpose
By Fiue Clinic Members

The signed statement OF the
five members of the Mayo clinic
who have created trust fund
of 81, 100000 for purpose of
medical education and research,
and who have offered to affiliate
the work of the Mayo foundation
with the work of the graduate
school of medicine at the uni
versity is in the hands Of the
state senate today. The state
ment was signed by the Mayos
last week and sent to the senate
committee appointed to ascertain
the exact terms of the proposal
and report to the senate.
The statement, which is es-
sentially the same as given to
The Journal Thursday by DR..
w. J. Mayo, follows:
Earlier Statements Superseded
ITO Whom 1t May Concern:
''The following statement in
cludes and supersedes any other
or partial statements made to
this date with reference to the
matters recited below:
''First-The Mayo foundation
for Medical Education and Re-
search was Incorporated Feb. s,
1915, and the following are it's
founders and trustees:
william J. Mayo, Charles H.
Mayo, Henry S. Plummer, Ed
ward Starr Judd and Donald C.
Balfour of Rochester, Mimi.
'The articles of incorporation
provide for the creation of a
board of scientific directors of
the Mayo foundation, whose
duty it is to prepare an annual
budget for the support of the
foundation, which will be pro-
vided by the founders during
the proposed experimental peri
cd of utilization with the Uni
versity of Minnesota. It's further
duty is to direct the educational,
scientific and research work of
the foundation.
! Selection of Directors
During the experimental
period of utilization, the members
of this board of scientific direc-
tors are to be nominated by the
foundation, to be approved by
the administrative board of the
medical school, excepting as to
one member, to be nominated by
the medical school and to be ap-
proved by the foundation, and
all to be appointed by the board
of regents of the university.
"Second-An endowment fund
in the amount of 81, 100000 has
been created for the support Of
the Mayo Foundation for Medi-
cal Education and Research. It
is invested in first class securi-
ties. It has been placed in the
hands of Burt w. Eaton, George
w. Granger and H. J. Harwick,
in trust for the uses of said
foundation; it being the duty of
said trustees to invest, re-invest
and accumulate the interest on
such endowment fund during the
proposed experimental period Of
utilization between the medical
school of the University of Min
nesota and the Mayo foundation.
Basis of Proposed Afiliation
''Third-The basic prin-
ciples of negotiation for perma-
nent utilization between the Uni
versity of Minnesota and the
Mayo foundation, should the pro-
posed experimental period of af-
filiation prove satisfactory to
both parties, shall be as follows
"A-The board of regents will
take the place of the present
trustees OF the endowment fund
of the Mayo foundation.
"B-This endowment fund
will be placed permanently in
the hands of the board of re.
) gents of the university, to be
vested in and administered by
said board of regents, and to be.
come the absolute property OF
the university, subject only
to the following conditions:
"That it be invested or rein
vested in first class municipal
county, state or federal securi.
ties.
"That it's income be used fol-
the promotion of medical educa.
ton and research.
Headquarters at Rochester
"That the foundation he main.