Untitled Page 42

OverviewTranscribeVersionsHelp

Here you can see all page revisions and compare the changes have been made in each revision. Left column shows the page title and transcription in the selected revision, right column shows what have been changed. Unchanged text is highlighted in white, deleted text is highlighted in red, and inserted text is highlighted in green color.

3 revisions
shashathree at Aug 26, 2021 11:58 PM

Untitled Page 42

[newspaper clipping] MRS. STANFORD'S GREAT GIFT

She Turns Over Bonds and Property valued at $30,000,000 to Leland Stanford University

San Francisco, Dec. 10. - Mrs. Jane L. Stanford yesterday transferred to Leland Stanford, Jr., University by deed, bonds, stock 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 consisted of gilt-edge bonds and stocks, paying a large revenue. The real estate deeded to the university comprises much of the property originally given by Senator Stanford, but 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 deeded includes no less than nine hundred thousand acres in about twelve counties of California, and comprise the great Vina ranch of 52,000 acres. A third deed coveys 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 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 more charities.

This gift places Stanford in first financial rank among the great universities of the world, and will enable it to carry out many projected plans. Leland Stanford, Jr., University stands to-day as one of the great educational institutions west of the Mississippi. With the University of California, it ranks in efficiency and scope with Michigan, Chicago, Pennsylvania and Cornell universities, and possibly exceed any of them in financial backing. Mrs. Stanford's purpose in turning over $15,000,000 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.

Untitled Page 42

[newspaper clipping] MRS. STANFORD'S GREAT GIFT

She Turns Over Bonds and Property valued at $30,000,000 to Leland Stanford University

San Francisco, Dec. 10. - Mrs. Jane L. Stanford yesterday transferred to Leland Stanford, Jr., University by deed, bonds, stock 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 consisted of gilt-edge bonds and stocks, paying a large revenue. The real estate deeded to the university comprises much of the property originally given by Senator Stanford, but 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 deeded includes no less than nine hundred thousand acres in about twelve counties of California, and comprise the great Vina ranch of 52,000 acres. A third deed coveys 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 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 more charities.

This gift places Stanford in first financial rank among the great universities of the world, and will enable it to carry out many projected plans. Leland Stanford, Jr., University stands to-day as one of the great educational institutions west of the Mississippi. With the University of California, it ranks in efficiency and scope with Michigan, Chicago, Pennsylvania and Cornell universities, and possibly exceed any of them in financial backing. Mrs. Stanford's purpose in turning over $15,000,000 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.