Webster City freeman. [volume] (Webster City, Hamilton County, Iowa) 1884-1946, 1920-08-16
Secretary Burgess Explains
Position of Trustees
of Kendall Young
Library.
MUST AWAIT INCOME
Will is Specific as to use of
Principal and Inter-
est.

community house prompts the writing
of this communication.
The will of Mr.. Young confers all
the authority possessed by the trlls-
tees. The gift to Webster City is con-
ditional upon the observance OF GER
tain conditions imposed by the will.
The will gives $4,000 for building,
furniture and books to start the Ii
brary. The remainder is made prin-
Icipal estate, the income from which,
shall be applied only for the care of
the trust fund, the purchase Of books
and reading matter for the library and
reading room. and the maintenance Of
the same, and in making any required
repairs or additions to said library
building.
No part of said principal, interest,
rents or profits of said estate shall ever
be used or applied to any purpose what
ever other than those herein mention
cd and designated, so reads the will.
Conditions of Gift.
TO make it more certain-the cOndi-
tons upon which the gift is made are
declared by the will as follows: II do
declare that, the preceding devise and
bequest to the city of Webster City,
Iowa, in trust, as aforesaid, is made
upon the express condition that none
OF the real estate, moneys, principal,
interest, dividends or rent arising
from said trust estate shall at any
time be applied to any other purpose
or purposes whatever than those nell
toned and appointed herein. In no
event shall any part Of the capital be
disposed Of or sold or pledged TO meet
the current expenses of said library or
in the purchase Of books or reading
matter for said library and reading
ROOM"
The city ordinance accepting the gift
agrees to all the requirements and con
ditiOns of the will
Having in mind these conditions, the
trustees did not feel authorized to pay
for the two trench Photographs fur
nished the soldiers, nor for the large
one sent to the county poor farm. from
the Kendall Young estate, but used
the income from the Jane Young fund
which was given without the condl-
4. h l,n
Young.
Must Use Care.
Too great care can not be exercised
by the library trustees in the making
of expenditures not authorized by the
will; and any doubt should be re-
solved against the expenditure to avert
the disastrous results that might fol
low any mistake Oh the part of the
trustees.
The income from the estate is now
far in excess of what is required for
the maintenance of the library. i'll the
ordinary acceptation of the meaning OF
the word, library. 1t certainly was not
the purpose Of Mr.. Young to require
the trustees to accumulate Il large III
come fund to place in interest bearing
securities, as the writer personally
knows, for such investment would be
of no benefit to the people. 1t was not
his purpose to have great store house
of books piled up which were not
adapted to or required to meet the de-
mands and needs OF the people. he
directs in his will that in the purchase
of books and reading matter for SAID
library: 1T is my wish that such books
and reading matter shall be procured
~ shall be helpful and instructive to
the mass of the people Of the city
We now have upwards Ut $4,000 in
the income fund bearing interest. We
may reasonably expect that this will
be, increased from $1,000 to $1,000 per
year, depending on the crops on the
lands of the estate. and the market
value of same.
OO1lSlOcf DNllulIlS.
The library trustees have been con
sidering. in an informal way. as to
what building they can construct ana
what additional activities can be en-
gagged in which will meet the require
ments of the will of Mr.. Young.
Our supreme court, in an acton
brought to restrain Wright county
from imposing any taxes upon the IL
brary lands in that county. because
they were the property of an educa-
tional institution, decided that our Ii
brary is an educational institution. and
as such is entitled to hold its land
exempt from taxation.
As an educational institution. the
word library has much broader sig
niticance than that usually accorded
it; and no doubt the trustees will be
able to select some additional line of
educational work in harmony with the