Untitled Page 34

$30,000,000 GIFT TO STANFORD

SENATOR'S WIDOW COMPLETES
UNIVERSITY'S ENDOWMENT

Largest Single Gift Ever Made to Institu-
tion of Learning — Bonds, Stocks, and
Real Estate Included — Mrs. Stanford's
Home Given — Action Taken By Her Now
to Prevent a Possible Will Contest

San Francisco, Dec. 9. — Mrs. Jane L.
Stanford tranferred to Stanford Univer-
sity to-day by deed, bonds stocks and
real estate valued at $30,000,000, the largest
single gift ever bestowed on any institu-
tion of learning. Of this amount $18,000,000
consists of gilt-edge bonds and stock,
paying large revenue.

The real estate deeded to the university
comprises much of the property originally
given by Senator Stanford, the deeds of
which were found to be illegal. The bonds
include many securities that have doubled
in value within a few years, and the ac-
cumulation of these and other stocks since
the death of her husband. The real prop-
erty includes no less than 900,000 acres
in about twelve counties of California and
comprises the great Vina Ranch of 52,000
acres.

A third deed conveys to the university
Mrs. Stanford's home on the summit of
Nob Hill, one of the most finely decorated
houses in San Francisco, which, with the
big lot, is worth $400,000. This will event-
ually be converted into an art gallery and
museum. Despite these big gifts, Mrs.
Stanford has retained property worth
several millions, so that she will be able
to provide for many charities.

The gift places Stanford University
in the first financial rank among the great
universities of the world, and will enable
it to carry out many projected improve-
ments. Stanford University stands to-day
as one of the two great educational institu-
tions west of the Missouri. With the Uni-
versity of California it ranks in effciency
and scope with Michigan, Chicago, Penn-
sylvania and Cornell universities and pos-
sibly exceeds any of them in financial back-
ing.

Mrs. Stanford's purpose in turning over
$18,000,000 directly to the trustees of the
institution instead of holding the bonds
in trust until her death was probably to
avoid any possible will contest.

$30,000,000 GIFT TO STANFORD

SENATOR'S WIDOW COMPLETES UNIVERSITY'S ENDOWMENT

Largest Single Gift Ever Made to Institution of Learning- Bonds, Stocks, and Real Estate Included- Mrs. Stanford's Home Given- Action Taken By Her Now to Prevent a Possible Will Contest

San Francisco, Dec. 9- Mrs. Jane L. Stanford tranferred to Stanford University to-day by deed, bonds stocks and real estate valued at $30,000,000, the largest single gift ever bestowed on any institution of learning. Of this amount $18,000,000 consists of gilt-edge bonds and stock, paying large revenue.

The real estate deeded to the university comprises much of the property originally given by Senator Stanford, the deeds of which were found to be illegal. The bonds include many securities that have doubled in value within a few years, and the accumulation of these and other stocks since the death of her husband. The real property includes no less than 900,000 acres in about twelve counties of California and comprises the great Vina Ranch of 52,000 acres.

A third deed conveys to the university Mrs. Standford's home on the summit of Nob Hill, one of the most finely decorated houses in San Francisco, which, wtih the big lot, is worth $400,000. This will eventually be converted into an art gallery and museum. Despite these big gifts, Mrs. Stanford has retained property worth several millions, so that she will be able to provide for many charities.

The gift places Stanford University in the first financial rank among the great universities of the world, and will enable it to carry out many projected improvements. Stanford University stands to-day one of the two great educational institutions west of the Missouri. WIth the University [??????] ranks in effciency and scope with Michigan, Chicago, Pennsylvania and Cornell universities and possibly exceeds any of them in financial backing.

Mrs. Stanford's purpose in turning over $80,000,000 directly to the trustees of the institution instead of holding the bonds trust until her death was probably to avoid any possible will contest.