The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-01-07
$50, 600 900 in 1906, 500, 000, 100 In 1914
and more than $270,000,000 In 1919.

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and more than $270, 1000, 900 In 1919.
Rosenwald frequently disclaimed
credit for the development Of the
business, declaring its success was due
to those with whom he worked.
The welfare of his "coworkers," as
RoSenwald always called the employees
of the company, always was chief
concern Of the president The Chi
cago plant provided for every conven-
fence for the workers from rest rooms
and hospital to swimming pool and
gymnasium. An employees bonus
savings system under which the COM
pany added certain amount to every
dollar of deposits was recognized as
a model system and one of the most
liberal in America.
Charity. Rcsenwah once told an in
innate friend. lis the one pleasure
that never wears out" In 1912. in
cooperation with the late Booker T.
Washington, he established the Ros-
newald Fund for rural negro schools
In the south. In the following &c
years. more than 100 schools, en-
ploying 2,3l3 teachers. had been
founded in Is southern states, estab.
lished either wholly or in part by the
fund.
More than 100000 had been dis
tributed through this agency up to
October. 1922.
Built Negro Y. M. C. A.
Establishment of the first negro Y.
M. G. A. in Chicago was largely
through Rosenwalds benefactions. Iii
1920. after q review of the several
years history Of the institution. he
announced q standing offer of $25,-
600 to any city which would raise
$l26,000 for Y. M. G. A. for negroes
His contributions to Jewish works
probably were larger than his dona-
tons to the negro cause, although i
Is unlikely that the extent Of either
will be accurately known. AS presl-
dent of the Associated Jewish Chari-
ties. a member of Siani congregation
Of Chicago and prominent figure In
the American Jewish Relief commit
tee to assist the Jewish people of the
war stricken areas Of Europe. Rosen-
Of Chicago and prominent figure in
work among his people. In April.
1918. he contributed 100000 to the
Jewish war relief fund and in 1922
gave $250,000 to various Jewish char
tiles as part Of his birthday celebra-
ton.
A contribution of 100000 toward 4
medical school fund for the University
Of Chicago was announced In 1916.
and $250,000 more went to the uni.
versity on his 50th birthday.
Million Dollar Gift
A gift Of 100000 was made in
1918 to the Council Of Grain Ex-
changes TO research work and crop
Improvement.
The war enlisted Rosenwald as
collar-a-year man in the Quarter
masters department. in charge OF
American purchases OF army supplies.
Probably the most difficult period
In his busy life came in the winter OF
1921. when the postwar deflation and
business depression struck the mail
order house amidship. Sales fell of
more than SIS 900 in 1921 as COM
pared with the previous year. When
it was known that $16,000,000 inven-
tory losses would have to be written
off in the 1921 balance sheet. Rosen-
valid pledged $20,0O0o0o OF his per-
sonal fortune to see the business
through. He purchased company
real estate valued at $l6,000000 and
donated $4,000 shares of Sears Roe
buck stock to the company treasury,
with the option of re-purchase with
in three years. The operation saved
the firm, reestablished the business
on q lower price level and aided the
recovery of trade generally. 1t was
hailed as one of the most remarkable
financial moves of the decade.