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Sometimes the school is so unprepared for the unexpected gift that the donor almost gets away. In 1959, for example, Karl D. Umrath, a retired cash-register salesman, rang up the switchboard operator at St. Louis' Washington University one Saturday morning and told her that he wanted to give the university $1,000,000. Some-what dubious, the operator tried in vain to reach Chancellor Thomas H. Eliot, got no answers from several other officials. Umrath was just about to hang up when she finally connected him with the dean of the college of liberal arts. "I want...

Author: /time Magazine | Title: Universities: The Fine Art of Fund Raising | 1/13/1967 | See Source »

...Prague-born, retired Cash Register Salesman Karl D. Umrath, 76, who migrated to the U.S. in 1902 and started as a $6-a-week floor sweeper, was disclosed as the anonymous donor of $1,000,000 to Washington University a year ago, when his wife last week gave the school another $200,000. The Umraths, still living in the modest brick house in St. Louis in which they were married 55 years ago, seemed unlikely bets for anybody's fund-raising list. But Umrath started investing when he arrived in the U.S., during the Depression picked up blue-chip...

Author: /time Magazine | Title: Education: New Money | 1/25/1960 | See Source »

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