The Clinton chronicle. (Clinton, S.C.) 1901-current, December 11, 1924, Image 7
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IUST FOR CHARITY
7 Valnedi at Forty MUliono for
Edocatiosk. Also Will EotaUUk
Duke UniTenity.
Charlotte, N .C., Dec. 8.—Establish
ment of trust for charitable and edu
cational purposes in North and South
Carolina embracing properties valued
at least $40,000,000, was announced
here tonight by J. B. Duke, multi
millionaire North Carolina power
magnate. Among ihe securities set
aside are about three-fourths of Mr.
Didce’s holdings in the Southern Pow-i
er company, the income of which dur
ing the next few years will agre-
gate approximately 82,000,000 a year.
The trust will be administered by
15 trustees, who will constitute a self-
perpetuating body.
. The trustees first are directed and
empowered to expend not exceeding
$6,000,000 in acquiring lands and
erecting knd equipping thereon build
ings “in the state of North Carolina
to be known and operated as Duke
the prime investment for the funds of
the trust and advises the trustees not
to change such Investments unless ur
gently necessary.
*1 recognize that education, when
conducted along sane and practical as'
opposed to dogmatic and theoretical
lines, is next to religion, the greatest
civilizing influence/* says Mr. Duke's
statement, in giving his reasons for
creating Duke university. He asks
that a faculty assuring the university
a “place of real leadership in.the edu
cational world” be secured and that
courses be arranged primarily for
training preachers, teachers, lawyers,
and physicians.
Hospitals have been selected as an
other means for distributing the in
come of the trust because, According
to the statement, they not only minis
ter to the comfort of the sick but in
crease “ the efficiency of mankind"
and 'prolong human life.”
The official statement issued by Mr
Duke follows:
“Mr. James B. Duke announced here
anced
tonight that in pursuance of a plan
he had long contemplated he had de
trust will be expanded and distributed
by the trustees as followa:
“Thirty-two per cent to Duke uni
versity for all purposes of the univer
sity.
“Thirty-two per cent for maintain
ing qnd securing hospitals primarily
in the states of North Carolina and
South Carolina on the plan of paying
to the hospitals a dum not exceeding
one dollar per day for each free bed
occupied and in assisting in building
and equipping hospitals.
“Ten per cent for the benefit of
white and negro orphans in North and
South Carolina. %
“Six per cent for assisting in build
ing Methodist Episcopal churches in
the sparsely settled rural districts of
North Carolina.
“Four per cent for assisting in
maintaining Methodist Episcopal
churches in the sparsely settled rural
districts in North Carolina.
“Two per cent for pensioning super
annuated preachers and widows , and
orphans of deceased preachers who
have served in North Carolina confer-
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On October 10th we gave a copy of registrations for Cook County,
in which Chicago is located, showing that Nash had forged ahead to fifth
place, including Ford.
Now comes two remarkable records for the month of November, cov
ering retail sales in the Chicago territory and also for the entire terri
tory finder the control of The Nash Sales Company.
university”, but with the provision termined to create and establish a
that if Trinity college at Durham, N. trust for certain charitable purposes
C., sees fit to change its name to embracing properties having a value
ence.
Duke university this sum may be
adding " Slid “extending Would" ificlude,'among oilier securities,
^ • ■■■--z-r—■=£!•- ■ ■ ..tnanr-*M
The trust then provides that 20 per
cent of the Jncome shall be retained
each year and added to the principal
until such funds have aggregated $40,-
000,000, making the total of the trust
fund approximately $80,000,000. After
this percentage has been set aside,
the other 80 per cent of,the income
is to be divided as follows!
The trustees named by Mr. Duke
include: Mrs. James B. Duke, Somer
ville, N. J.; George C. Allen, ^William
R. Perkins, William B. Bell, Anthony
J. Drexel Biddle, Jr., Walter C. Par
ker and Alexander H. Sands, Jr., all
of New York;; William S. Lee| Char
les I. Burkholder, Norman A. Cooke,
«nd Edward C. Marshall, Charlotte,
and Benjamin E. Geer, 'Greenville, S.
C.
The trust indenture, according to
tonight's announcement, is now in
of at least $40,000,000, and which
“Five per cent to Davidson college,
Davidson, N. C. Davidson is a Pres
byterian institution.
ef cent ^o Furman unlver-
the Southern Power-system, the in
come from-which during the course of
the next few y$ars would* aggregate
approximately $2,00,000 per year and
thereafter considerably more, increas
ing as the country add the business
of these power systems grow.
“This trust will be administered by
15 trustees, who will conftitute a self-
perpetuating body. Among the first
trustees will be Mrs. James B. Duke
of Somerville, N. J.; George 9- Allen,
William R. Perkins, William B. Bell,
Anthony J. Drexel Biddle, Jr., Walter
C. Parker and Alex H. Sands, Jr., of
New York City, and William S. Lee,
Charles I. Burkholder, Norman A.
Cooke, and Edward C. Marshall, of
Charlotte, N. C., and Benjamin E.
Geer of Greenville, S. C.
“These trustees will be directed and
empowered to, expend not exceeding
Baptist institution.
“Four per cent to Johnson C. Smith
university, Charlotte. Johnson C.
Smith university formerly was known
as Biddle university, and is a negro
school.
W A NTS
Rates for advertising in this column
are one cent per word for each Inser
tion, with a minimum charge of 25c,
payable invariably in advance.
New York and Chicago registrations have always been barometers by
which the strength and popularity of automobile lines have always been
measured and the figures which we give you, herewith, again strongly
emphasize the enviable position in which the Nash selling organization is
placed, because .of the widespread approval of our new series cars, which
are making new high records even in the winter months.
Nash sales in the Chitago territory for the month of November iust
st in their history—exceeding October, which up to
that time was their record month aurmg the eignt yei
Motors Company.
/
New car registrations just received from the Secretary of State’s Of
fice at Springfield, Illinois for Cook County, including the City of Chicago
for the month of November, show Nash In second place—second only to
Ford.
The highest twenty in registrations are as follows:
FOR RENT—Furnished or unfurnish
ed rooms or a six-room apartment
on South Broadway. Telephone 319.
Itc
I,
course of preparation and will be ex- the sum of $6,000,000 in acquiring
ecuted by Mr. Duke on his return to lands and erecting and equipping
in
few
his home in New Jersey
days.
Recalling that he has for years
been engaged in developing water
power resources of North Carolina
and South Carolina, Mr. Duke, in a
statement, set out in the indenture for
the guidance of the trustees says:
“My ambition is that the revenues of
such developments shall administer to
the social welfare, as the operating
of such developments h administering
to the economic welfare of the com
munities which they servtf.” He then
commends to the trustees the securi
ties of the Southern Power system as
thereon buildings in establishing an
institution of laarning in the state of
North Carolina to be known and op
erated as Duke university,, with the
provision that if Trinity ocllege at
Durham, N. C., sees fit to change its
name to Duke university, such sum
may be spent in expanding and ex
tending Trinity college.
“For the purpose of increasing the
principal of the trust estate 20 per
cent of the income will be withheld
and aded to the principal of the trust
until such additions have agregated
$40,000,000.
“The balance of the incomes of the
FOR SALE—One home raised horse,
seven years ol<jL Work anywhere
One good two-horse wagon cheap. W.
A. Henry, 164 Musgrove, Phone 86,
Clinton. 12-ll-2tp
LOST—One white setter dog with
black spot on side of head, with col
lar on. Last seen December 1. $10
reward for recovery. W. A. Geigler,
Clinton Oil Mill. Itp
Ford
...538
Cadillac
.... 37
NASH
...137
Reo ?. ....
.... 32
Dodge
....136
Willys-Knight ....
.... 30
Buick
...122
Overland
.... 25 '
Chevrolet .... ....
...115
Maxwell
... 24
Studebaker
.... 80
Flint
... 23
Hudson
70
Olds
. .. 22
Packard
.... 46 .
. Hupp
.... 22
Chrysler
.... 45 ‘
Jordan
.... 21
Essex
.... 39
Jewett
.... 18
Yours very truly,
XMAS WREATHES—Trimmed red
Frieze 50c, Magnolia and Galax
leaves, trimmed, $1.00, $1.50, $2.00
and $2.50. Beautifully trimmed
wreathes, for $3.00 and up. Order
early and avoid rush. Mrs. Nonnie
D. Young. Itp
J. K. Hatton
“ON THE SQUARE”
XMAS IS ALMOST HERE
Our Store is Hiled With “Good Things to Eat” Suitable for the Happy Season
Now that the Christmas Holidays are rapidly approaching and you will have to replenish your pantry and gather together lots of
“Good Things to Eat”, we desire to call your attention to some facts. Our store is a modern foodshop, gathering from all quarters of
the globe Nature’s freshest and choicest eatables—the most appealing and satisfying “Good Things to Eat.” We claim to have one of
the largest variety, the most varied assortment, and the fullest stock of fancy table delicacies in the city. We have selected these
goods to meet the requirements of our trade and we invite the closest inspection. Our first watchword is QUALITY, our business has
been built on this foundation. Remember that every article is unconditionally guaranteed to please or your money refunded.
STONE RICH FRUIT CAKE
One, Two and Five Pounds
STONE PLAIN CAKES
Layer Cakes
FRUIT CAKE INGREDIENTS
Seeded Raisins
Seedless Raisins
Dromedary Dates
Drained Citron -
Chrystalized Cherries
Chrystalized Pineapple
. Chrystalized Ginger
STONE WHITE FRUIT CAKE;
Two, Two and One-Half and
Five Pounds
CEREALS
Post Bran
Corn Flakes
Puff Wheat
* Puff Rice
Cream of Wheat
Wheatena
Dried Figs
Buckwheat Flour
Knox Gelatine
Baker’s Chocolate
Baker's Cocoa
Maple Syrup
NUTS
California Walnuts
v Brazil Nuts
Almonds
Pecans
ALLSPICE
FRESH FRUITS
Cloves
Florida Oranges
Cinnamon
Extra Fancy Winesap Apples
Large Bright Grape Fruit
Ginger
Emperpry Red Grape
Mixed Spice
Tangerines
Poultry Seasons
Thymje
Bananas
Paprika
•
Nutmeg
California Celery *
Savory
Large Howe Cranberries
Marjoram
Large Iceberg Lettuce
Mace
Extra Fancy Lemons
Fresh Cocoanut
Can Cocoanut
SHELLED NUTS
Package Cocoanut
Almonds
None Such Mince Meat °
Walnuts
Heinz Mince Meat
Pecans
Layer Raisins
SWAN DOWN CAKE FLOUR
In packages and 24-lb. bags
SUGAR
dered Sugar
ifection Sugar
Cube Sugar
COFFEE
Don’t froget the Coffee.
Try a 3-lb. can of
Morara
Lord Calvert
Franco American
NEW YORK STATE
Cream Cheese
Macaroni
If its “GOOD TO EAT” we can supply it We guarantee QUALITY, WEIGHT and PRICE to be right Call us early and often. Make
LITTLE & DENSON’S your shopping center for Christmas.
LITTLE & DENSON
Phone 50 and 54
Clinton, South Carolina.
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