CHICAGO (Mar. 31)
The vast Julius Rosenwald Fund, established more than 30 years ago by the late American Jewish philanthropist “for the well-being of mankind,” will terminate on June 30, it was reported here today. By that date, some $22,500,000 will have been, appropriated to various cultural and philanthropic projects More than $10,000,000 was contributed by the Fund to a program of Negro education.
The total expenditures of the fund represent capital and interest on the original endowment in 1917 of 227,784 skates of Sears, Roebuck and Co. stock. In setting up the trust, Rosenwald, head of the firm, specified that the funds must be spent within 25 years of his death. He died is 1932.