Word: trusts
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Dates: during 1920-1929
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Excerpts from the statement announcing the trust...
...Carolinas are the beneficiaries of the trust, for there was the cradle of the Duke tobacco fortune...
...have selected Duke University as one of the principal objects of this trust because I recognize that education, when conducted along sane and practical lines as opposed to dogmatic and theoretical lines, is, next to religion, the greatest stabilizing influence...
...unique specification of the trust (which will be administered by a self-perpetuating body of fifteen, composed at first of relatives and friends) is that the $40,000,000 shall be kept, as far as possible, invested in the Southern Power System. Mr. Duke...
...needs for the real work of a university it might perhaps conduct a school of business (though we are of those who believe such a school out of place at Harvard); if it is determined to put the requirements of such a school first it is betraying its trust and its tradition...