FIRST BIENNIAL STATEMENT 29 



In a few months, however, our plans had sufficiently re- 

 covered from the cyclone to once more be set slowly in 

 motion. In the spring of 1914 it began to look as if an 

 option must be exercised on the Fund — either to increase 

 it or abandon it. And then Mr. Emerson McMillin, a gen- 

 tleman of large affairs, proposed to give a luncheon at 

 the Lawyers' Club, and invite to it several gentlemen who 

 would be willing to listen to our story. Knowing well 

 what would be expected of them, eighteen men had the 

 courage to attend. 



The immediate result of the luncheon was a new list of 

 subscribers, which included the names of Messrs. Emerson 

 McMillin, James Speyer, George D. Pratt, Frederick C. 

 Walcott, Franklin Q. Brown, John Markle, Col. R. B. Wood- 

 ward and others. Another immediate result was the ac- 

 cession of a great amount of new courage. But even then 

 it seemed impossible to reach the half-way mark. 



Then it was that the Good Genius of the Fund, Mrs. 

 Frederic Ferris Thompson, secured for it the serious at- 

 tention of her friend, Mrs. Russell Sage, who presently sent 

 her check for $10,000, and brought the total up to $49,000. 

 That being accomplished, in the most sportsmanlike way 

 in the world Dr. William H. Nichols responded, rather 

 ahead of his intentions, with a Founder's check for $1,000, 

 and on May 6 — exactly synchronizing with the senatorial 

 courtesy attack of Senator James A. Reed upon the Cam- 

 paigning Trustee, — the half-way mile-stone was reached. 



Since that time a number of smaller subscriptions pres- 

 ently brought the total up to $51,980. Of that sum $39,505 

 have been paid in, and put to work earning an income. It 

 is to be regretted that two of the subscriptions are con- 

 ditional, but we do not regret the fact that some of the 

 smaller subscriptions were made subject to payment in the 

 near future. 



Another Obstacle. — The outburst of the European war, 

 in August, 1914, added the finishing touch to the already 

 existing bad money market, and placed the subscription 

 campaign in a state of suspended animation. Possibly the 

 sun of prosperity will rise over this enterprise before the 



