Evening star., 1924-12-09
GIVES LAST OF STOCK.
Eastman Now Out of Kodak Own.
ership.
By the Associated Press.

By the Associated Press.
ROCHESTER, n. Y, December g.
Bringing his total known benefac-
tions to S5S,602,900. George Eastman,
head of the Eastman Kodak Co, yes
terday announced new gifts of S12,-
soc, 900 to institutions of higher edu-
cation after recently announcing a
gift of $2,500000 in the greater Uni
versity of Rochester campaign. Those
to benefit under the latest gifts of
Mr.. Eastman are:
Massachusetts, Institute Of Tech
nology, S4,500,000. which is added to
a previous gift of s11,00o,0O0: Univer-
sity of Rochester, s6,000.O00; Hampton
Institute, S1.000,000, and Tuskegee
Institute, s1,000,000.
Of Mr.. Eastman's total Of $58,602,-
900 the sum of s23.57s,500 has been
given to the University of Rochester.
VIII Continue In Firm.
Despite the fact that today's gifts
mark the disposal of the last large
block of his personal oldings
in the Eastman Kodak Company, Mr..
Eastman makes it clear that he will
continue to direct the affairs Of the
company and hopes to as long as he
lives.
Gifts made yesterday and not an
nounced before are under terms SIM
liar to those made to employees. Stock
Is sold to benefiting institutions for
ST., 500, 900 less than its actual value.
While provision is made that 1t
may be paid for in installments dur
ing the life of Mr.. Eastman, 1t is
given without any restriction re-
garding the time for sale. 1t may be
sold today If the beneflciaries desire
to part with 1t.
Explaining the motives actuating
gifts totaling more than s15.0oO,O00
to four colleges, announced today,
George Eastman said:
Out of Money-Makfng.
"One of the reasons why I welcomed
this disposition of my Kodak stock
is that it separates me from money
making for myself, and will give me
the benefit of a somewhat more de-
tached position in respect to human
! affairs. 1 look forward with interest
| to finding out how much the changed
condition will affect my slant on cur
rent affairs.
THE reason I selected a limited
! number of institutions was because
| 1 wanted to cover certain kinds of
education and felt that + could get
results with the institutions named
quicker and more directly than il
| the money was spread. Under the
| best conditions 1t takes considerable
| time, sometimes years, to develop
| the wise expenditure OF, money in
| any line, no matter how well pre-
| pared one may be. I am now up
| wards of 70 years old and feel that
1 would like to see results from this
money within the natural term of my
| remaining years"
Explaining his gifts of $1,000,o
| each to Tuskegee and Hampton, he
said:
almost the entire attention of
| educators has been devoted thus far
to the white race, but we have more
than 10 per cent negro population.
1.-The Massachusetts Institute of
Technology Mr.. Eastman con-
| tinued. "is the greatest school of its
kind in the world. 1t has an eminent
| faculty of scientific men, splendid
| body of students and alumni. a great
| equipment and an outstanding board
of directors to determine it's policies;
it is all prepared to begin to make
| use of these additional funds.
LAS to Rochester, the town In
which I am interested above all
others, we are all set now to de-
velop our university on the broadest
lines and make it one Of the out
standing universities of the country.
BY that I do not mean one Of the
largest. but one of the highest rank
in all of the fields which it. has
entered"