The Denver Jewish news., 1925-10-08

Professor Cyrus ADLER and Or. Judnh
l.. Magnee Of Jerusalem.
As in the case OF all gifts admins.
tered through the Community Trust.
the trusts distribution committee is
given broad powers to utilize the In
come Of the fund for such public
educational, charitable and benevolent
uses and purposes as viii most effee-
lively assist and promote the well he.
ing of mankind" and thereafter the
donors state their desires as to the
specific means Of accomplishing those
objects. By this method the danger
of the funds becoming antiquated is
avoided. If the discontinuance of in
stitutions of institutions or other rea-
sons should make the execution of
particular purpose impracticable, the
distribution committee will exercise its
discretion in carrying out the general
intentions Of the founders.
The trust agreement executed by
Mr.. and Mrs. Warburg reads in part
as follows:
To invest and keep invested said sum.
To collect the Income therefrom and to dis
pose Of the net income all for the public
educational, charitable and benevolent uses
and purposes and upon all the terms and
conditions expressed and contained In the
Resolution and Declaration OF Trust ad
opted by the board OF directors of the
United States Mortgage and Trust Com
pany on the 2s,h day Of May. 1890. Great
ing The New York Community Trust.
The desire Of the founders being hereby
expressed that the net income ON this trust
fund shall be used to provide assistance by
means OF scholarships. donations, remuner-
ations, or loans to persons Of the Jewish
faith In their pursuit of Jewish studies,
particularly In preparation for the teach
ing thereof or productive scholarship
therein or for the Jewish ministry. II is
the wish of the founders that. In the selec-
tion of benetciaries hereunder. preference
be given to citizens Of the United States Of
America, and especially to those who. for
the purpose of advanced study or teach
Ing, wish to make use Of the inspiration
and opportunities offered at the newly es-
tablished Institute of Jewish studies at
the University Of Jerusalem In Palestine.
The scholarships. donations, remunera-
tons or loans hereby provided for shall he
granted TO -such persons OF the above
clnsses and upon such terms and condi-
tions AS may from time to time be deter
mined by the committee on distribution
mentioned In the resolution above men
TONED and hereto annexed. In Its uncon-
trolled discretion so NJ best TO enectuate
the purposes and intent Of the founders.
III being the desire Of the founders that
this trust he used to encourage and assist
sustained application by the benehciaries
to the pursuits hcreinbefore mentioned. the
founders suggest merely that unless n ben
etciary at the time of receiving payment
hereunder shall already have devoted three
or more years to such pursuits payment TO
repaid unless he shall conclude three or
more years of such pursuits. but this sug-
gestlon shall not limit the discretion OF
said committee on distribution in devising
from time to time the manner of accom-
plshing said purposes
III and 50 long az said committee on
dist ribution shall he satisfied that the pur-
poses aforesaid will be best served by pay
Inents Of all or II part Of the income there
from TO said Institute of Jewish Studies or
to said University of Jerusalem to be ap-
piled and administered by II or them for
any of said purposes. such payments may
he made. The founders direct however,
that no part of this fund or the income
thereof shall be used for departments of
the University Of Jerusalem other than
said Institute of Jewish Studies. and that
no part thereof he used or applied In any
manner to assist or promote any political
or rhauvlnistlc activity.
| In ease II shall at amy time become I'm
possible. imprnctlcahc or inexpedient. In
| the discretion Of said committee on distri-
button to apply all or any part OF said in
come for the benefit Of students and teach.
ers ut said Institute of Jewish Studies al
| the University of Jerusalem, the founders
| request that In such case said income he
| similarly applied to similar uses for the
| benefit OF students and teachers at other
| institutions of Jewish higher learning. and
the founders recommend In that event the
| Jewish Theological Seminary Of America
In New York City and/or the Hebrew
| Union College In Cincinnati Ohio"