The Carbon County news. [volume] (Red Lodge, Mont.) 1924-1931, 1929-09-05
NO VOCATION MORE INDEPEN-
DENT OR wholesome; IT'S
REWARDS NEVER GREATER
THAN TO-DAY.

That the state of Montana, under
authorization of the last legis-
lature, has in operation one of the
best developed plans anywhere in use
for the administration of trust funds
created by individuals as endow.
ments for memorials, or similar pur-
poses, is a fact which seems to be
little known to the general public, ae-
eording to the author of the plan, l.
NJ. Branjord, commissioner of state
lands and investments.
Mr.. Brandiord, whose bill, with a
few amendments resulted in the es-
tablishment of the new Montana
Trust and Legacy fund, explains the
plan and working of the fund as fol-
ows:
What is your hobby-your keenest
interest in life? Is it the honor and
respect-of your family and the family
name? Is it the school that your
children attend? Is it the govern
ment of your city, the improvement
of your city. the Improvement of its
streets and the identifying of its
parks Or IS it good roads Is it
| politics, science art or athletics ?
Whatever it may be along these lines,
the State of Montana has a we'll
worked-out plan now in operation for
aiding you in carrying on the work
in which you are especially interested,
not only during your lifetime but
through decades and probably Gen.
turtles to come.
Suppose you want to offer an an
nual prize to the student making the
best showing in certain subject in
your high school, or a prize for the
best wheat or other exhibit at the
State fair; suppose you want foun-
tain in your town to flow with spark
ling water during the next century, or
you want to establish or maintain a
park for all its people; or suppose
you want to make annual Christmas
gifts to the poor or aid in maintain
ing a hospital, or advance any other
benevolent or charitable work of en-
during usefulness in the wide field of
human life In order to do any of
these things for long time to come,
you would have to set aside per-
manent fund and provide that the in
come thereof should be used to carry
on the work or activity.
The State Will Administer
article q of the state constitu-
ton and Chapter 70 of the 1929 SEES
sion Laws provide among other
things that the state will accept gifts,
donations, grants and legacies in any
amount or value of not less than $3.50.
each for the benefit of scientific, ed
ucational, benevolent and charitable
work; hold the same in trust, invest
them safely in good securities and
apply the net earnings as directed by
the giver, subject of course to certain
| limitations.
1t is not an easy matter for the
private citizen of limited means to
provide machinery of his own suit
able for the safe and perpetual adj
ministration of his gift. For the very
wealthy man it is possible to build up
an organization that will endure for
some time; but for the person of
moderate means this would be next to
impossible. Administration of funds
that are to endure for a long time is
pre- eminently a function Of govern
ment; the state alone possess that
duration of life and permanency of
organization which is absolutely nee
essary.
"Our constitution and statutes pro-
vide that the state board of land COM
missioners shall have charge of the
investments End administration of all
such funds entrusted to the state; in
other words the governor, superinten-
dent of public instruction, secretary of
state and attorney general. This
board already has under its admins
tration permanent funds and invest
ments exceeding $15,000,000 belong
ing to the schools and educational in
situations Of the state The expert
ence and organization which this
board has DEVELOPED in the admins
tration Of these enormous funds make
it exceptionally we'll qualified to han
die additional trust funds. The record
of the board for making safe invest
ments is excellent; outside of some
excessive farm loans made a few
years ago, there is no record of a
single loss sustained in all its in
vestments.
Supreme Court Supervisor
Constitution and statutes provide
for additional safeguards in the in
fvestment administration of the mes
cellaneous trust funds contributed by
individual citizens.
While the state board of land COM
missioners had direct charge of the
administration of the funds, this adj
ministration is subject to the super
vision of the justice of the supreme
! .4,.Is H. 4. l.