Evening star. [volume] (Washington, D.C.) 1854-1972, 1935-03-03
The Foundations and the Depression
BY FREDERIC ]. HASKIN.

may be better known because of its
activities in so many fields and the
fact that the two Rockefellers, father
and son, still are living, considerably
more money Is represented by the
benefactions Of Andrew Carnegie.
The Carnegie Corp. In 1880 had
$159, 800, 1888. There was slight in !
crease in the first depression years,
but heavy later Withdrawals brought
the balance at the end Of 1888 down
to $158, 124,064. Then there is the
Carnegie Foundation which in 1880
had 1872 ,130025 and was reduced TO
$30,844,518. The Carnegie Institu-
ton Of Washington, the body which
engages in a wide range of scientific
work, had S37.659,125 in 1880 and in
1888, $39.036, 436. In this case it is
understood that excellent earnings of
the institutions investments actually
resulted in a profit Then there is
the Carnegie Endowment for Interna-
tional Peace. In 1880 this endow-
ment had $12,032,O33. BY 1888 1t
had fallen to S11,995, 405-certainly
slight expenditure II maintenance
OF peace could be ascribed to the
efforts Of the organization.
Organizations Pour Out Millions.
The General Education Boards
fund was considerably depleted. This
fund is made up of various contribu.
lions including sums from the Spell
man, Jeanes, Slater funds. In 1880
it stood at $50, 731 $40 and at the
end of 1888 at S42. 1881 The needs
of schools in distress were heavy dur
ing the period. The general educa-
ton fund is under general superb.
sion of the United States Govern
ment.
The Bull Foundation, arising from
the great Bull hardware fortune.
showed s12,453,15 in 1880, but, in
spite of benefactions 1t had been built
up to SIG, 09l ,004 at the close of 1888.
One fund seems to have been inactive
during the period. The Winifred M.
Burke Foundation, arising from the
Burke banking fortune, had $4,000, 900
in 1880, showed a gain of 100000
in 1882 and in 1888 had $4,600,000.
While there is no detailed explanation
at hand, these round figures are
strong testimony that the fund was
inactive.
The Commonwealth Fund is another
which has many contributors. 1t car.
ries on hospital work, grants fellow.
ships, makes researches and performs
other services. In 1880 it showed
S42 ,95O,712 and, in 1888, $43, 229,397.
A fund which stuck to its income,
holding its principal endowment in
tact, was the Maurice and Laura Falk
Foundation, Pittsburgh steel fortune
benefaction. The fund stood at
$10,000000 in 1880 and still does.
Some trusts allow trustees no dis
erection as to appropriating from
principal.
The Milbank Memorial Fund. aris-
ing from the railroad and banking
family of that name, had $l0,702, 093
in 1880 and $l0,344,278 at the end
of 1888. Meantime there had been
fluctuations The Russell Sage Foun-
dalton declined from s15,Ooo,o00 in
1880 to Sl3,709,200 in 1888.
In 1880 the New York Community
Trust had $8,672,383 and in 1888
but s7,703, 800, while the Julius Rosen-
valid Fund, founded by the late head
Of Sears, Roebuck & Co., and spe-
cializing in Negro benefactionS, showed
S13,711, 295 in 1880 and but $5,168,273
at the close of 1888. In the course
of this period these institutions
poured out many millions for the
benefit Of mankind.