The Camden chronicle. (Camden, S.C.) 1888-1981, December 19, 1924, SECOND SECTION, Image 9
SECOND
SECTION
The Camden Chronicle
PAGES
9 TO 16
VOLUME XXXVI. 1 WHWWWWWWWWWWWWWilI? ? _ m A WKKKHKKBBKKS/KSMB* ? -*
CAMDEN, SOUTH CAROLINA, FRIDAY, DECEMBER 19, 1924.
I...XU
NUMLBER 387""
PUKE GIVES Mil.i.ions
Wealthy Man Plays Santa Claus To
Education In Twt> Carolina*.
(Charlotte Observer Deo. K)
James B. Duke, multi-millionaire
industrial developer and capitalist,
announced in ?harlotte yesterday the
creation of a trust fund totaling
$40,000,000 for educational and chari
table purposes, including the estab
lishment a^d maintenance of a vast
educational institution in North Caro
lina to be known as Duke university.
A fund of $6,000,000 will, be made
immediately available for the purpose
of acquiring lands and equipping
thereon buildings suitablo and ade
quate for an institution of learning
that in time will rival Yale or Har
vard in prestige and universal educa
tional facilities.
The trust will be administered by
15 trustees, who will constitute a self
perpetuating body.
This announcement, throbbing with
the joy of a mait who is ready to
dedicate to the welfare of his state
the fortune he has spent a lifetime in
gathering together, was made yester
day afternoon by Mr. Duke at his
palatial home in Myers Park. Among
those present were some of the men j
who will become trustees of the es-j
late* Mrs. Duke, his attorneys artd j
newspaper men.
The building of this great university
?this contribution to the educational
advancement of North Carolina and
the South-?is the result of a boyhood
dream of the man who has accumu
lated millions in a private fortune,
and who has probably done more for
the industrial upbuilding of his state
than any other man.
All his life James B. Duke 1ias
wanted to see North Carolina rise
to the heights enjoyed by her sister
states in the east and north because j
of such institutions as Yale and Hat-,
vard or Michigan and Illinois or Co
lumbia. All his life he has longed for |
the day when North Carolina would
march proudly by in a solid phalanx '
with sister states, unafraid and uti-'
ashamed, because she could boast of
educational institutions second to
none in the nation.
And not only will he build a uni
versity, but he Has arranged the prin- j
cipal of the trust so that it will pay,
the estate 2Q. per cent of its Income J
until such additions have aggregated j
another $40,000,000. And from the'
80 per cent of the income of the!
$40,000,000, and additions which Bhall
hereafter be added to the principal, j
he will give great sums to Davidson
u*
college, Kunnan university, the John
son C. Smith university; will buiUl
Methodist Episcopal churches in
sparsely settled districts of North
Carolina; maintain and secure need
ed hospitals, maintain and help white
and colored orphan asylum^ and to
help many and sundry worthy chari
ties.
When William R. Perkins, Ml'.
Duke's attorney, read the document
of 7,200 Words, setting forth the out
line of Mr. Duke's magnificent propo
sition, a hushed silence fell upon those
present as the magnitude of the gifts
began to dawn upon them.
There in the midst was a man who
was passing on to the state of North
Carolina?and to the entire South?
a yuletide present of $40,000,000, that
in time will grow to $80,000,000?
and to even larger proportions as the
wealth of North Carolina increases?
and he did it as joyfully and with
the same simple, unalloyed pride that
he would present any minor Christ
mas present to a dear fritetid.
If Trinity college at Durham sees
fit to change its name to Duke! uni
versity, the sum of $6,000,000 will
be spent in expanding and extend
ing that educational institution, oth
erwise the Duke university will bo
located elsewhere in the state, it
was announced. 0 ?
Official announcement authorized
by Mr. Duke and prepared by his at
torneys was made public. It follows;
"Mr. James B. Duke announced
here tonight that in pursuance of
a plan he had long contemplated he
had determined to create and estab
lish a trust for certain charitable
purposes embracing properties hav
ing a value of at least $40,000,000,
and which would -include, among
other securities, about threefoitirths
oLJijs holdings in \ the Southern
Power system, the income from
which during the course of the next
few years would aggregate approxi- j
mately $2,000,000, and thereafter
considerably more, increasing as
the country and the business of these
power systems grow.
"The trust will be administered by
25 trustees, who will constitute a
self-perpetifhting body.. Among the
first trustees will be Mrs. James B.
Duke, of Somerville, N. J.; George
G. Allen, William R. Perkins, Wil
liam B. Bell, Anthony J. Drexel
Biddle, Jr., Walter G. Parker and
Alex H. Sands, Jr., of New York
(Sty, and William S. Lee, Charles I.
Burkholder, Norman A. Cocke and
Edward C. Marshall, of Charlotte, N.
C.r and Benjamin, E. Geer, of Green
ville, S, C.
One Guess?Who's
the Letter For?
"These trustees will be directed and
empowered to expend not exceeding
the gum of $6,000,000 in acquiring
lands and erecting and equipping
thereon buildings in establishing an
institution of learning in the state
of North Carolina to be known and
operated as Duke University, with
the provision that if Trinity college,
at Durham, N. C., sees fit to change
its name to Duke University such
sum may. be spent in expanding and
extending Trinity college.
"For the purpose of increasing the
principal of the trust. estate 20 per
cent of the income will be withheld
and added to the principal of the
trust until such additions have ag
gregated 40 million dollars.
'.'The 'balance of the incomes of
the trust will be expended, and dis
tributed by the trustees as follows:
"Thirty-two per cent tu Duke uni
versity, for nil the purposes of the
university.
"Thirtytwo per cent tor maintain
ing and securing hospitals primarily
in the states of North*Carolina, and
South Carolina on the plan of pay
ing to the hosnitals a sum not ?>x
cceding $1 per tree bed occupied, and
in assisting jjn building and equip
ping hospitals.
"Ten per cent will be given for the
benefit of white and colored orphans
in the states of North and South
Carolina.
"Six per cent will be given for as
sisting m building Methodist Episco
pal churches in the sparsely settled
rural districts in the state of North
Carolina.
"Four per cent will be given, for as
sisting in maintaining Methodist
Episcopal churches in the sparsely
settled rural districts in the state
of North Carolina.
"Two per cent will be given for
pensioning superannuated preachers
and the widows and orphans of de
ceased preachers who have served
in a Methodist conference located in
the state of North Carolina.
"Five per cent will be given to
Davidson college, a Presbyterian in
stitution located at Davidson, N. C.,
for all the purposes of that college.
"Five per cent will be given to
Furman university, a Baptist institu
tion located at Greenville, S. C? for
all the purposes of that university.
"Four per cent will be given to
Johnson C. Smith university, ah in
stitution of learinng for colored peo
ple, located in Charlotte, N. C., for
all the purposes of that university.
"The trust indenture, which is now
in course of preparation, will be exe
cuted by Mr. Duke on his return to
his home in New Jersey in tho next
few days, and will contain the fol
lowing statement for guidance of the
trustees."
What "Who's Who" Says About Duke
James Buchanan Duke, capitalist.
Born on a farm near Durham, N. C.,
1857, son of Washington Duke. Edu
cated in the country schools. Married
second time to Napnie Lee (Holt) In
man, Atlanta, Ga., July 23, 1907. Be
gan in tobacco business with his fa
ther and brothers at Durham,^. C.(
in firm of Duke Bros,, acquinng^an
interest at 18 years of age. He went
to New York in 1884; organized the
American Tobacco company in 1889,
of which he was president until 1912.
Was president of Continental Tobacco
company in 1898, and Consolidated
Tobacco company in 1901; chairman
TUK KNC2LISII WAY
No Man her of Appeal Could Save
Knglish Murderer
Hull, Kngland, Dec. I).?William (}.
Smith, the young painter whose con
demnation to death for the murder
of a woman last August groused in
tensive appeals for clemency, was
hanged at nine o'clock this morning.
The woman slain was Mrs. Elisa
beth Bousefield, In a last desperate
effort to save Smith's life, a number '
of locJil^ffotablos, including tho may
or's' wife, this morning telegraphed
an appeal to King George asking
him to exorcise his Royal preroga
tive and spare the condemned man's
life but tho appeal was unavailing*
The "royal prerogative" in such,
cases exists nowadadys in theory only
a? the king- can only refer such
tilings to his ministers.
Before the appeal to the king every
effort had been made to obtain a re
prieve from tho home secretary, Sir
William Joynson-Hiclts, but a depu
tation headed by Oomandmer Ken
worthy, M. P., a?M including six
other commoners, was forced to re
port failure.
The populace was greatly stirred
over tho case and filled the churches
for hours while special prayers were
sjyd for the condemned man. A meet
ing offy:10,000 persons yesterday
threatened a general strike if their
reprieve petition was not granted,
and Commander' Kenv^orthy announc
ed that he feared violence would fol
low the execution.
One of the arguments presented
was that Smith had not been shown
impartiality, as another man, proved
guilty of murdering his wife at the
same time, Smith was condemned,
while the other was sentenced to only
ten years imprisonment.
More than five million farms in the
United States produce eggs each year.
I 1 ..
board of directors of British-Ameri
can Tobacco, company, JAdn 1^1&; di?
rector Union Bleaching & Finishing
company; president Southern Power
company,
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