Show POWER MAGNATE GIVES HUGE SUM 7 FOR EDUCATION CHARLOTTE N N. C. C D Dec c. c 9 By A. A P. P Establishment P. of or a trust for tor charitable and educational purposes I in North and South Carolina embracing embracing embracing em em- bracing properties valued at least was announced here I last night b by J J. J B. B Duke multimillionaire multimillionaire multi mulU- millionaire North Carolina power magnate Among the securities thus set aside are about three- three fourths of Mr 1 Dukes Duke's holdings in inthe inthe inthe the Southern Power system the Income in income income In- In come of ot which during the next few years will aggregate approximately a year The trust will be administered by I fifteen trustees who will constitute a self perpetuating body The trustees first are are are- directed and empowered to expend not exceeding exceedIng exceeding exceed exceed- I ing in acquiring lands I and erecting and equipping thereon buildings in the state of North orth II Carolina to be known and d operated as Duke university But with the provision that It if Trinity college at Durham N N. C. C sees fit to change chance its name to Duke university this thil sum may be spent in expanding an and extending Trinity college The trust then provides that 20 per cent of the income shall be re- re j tamed e each ch year and added to the tho I principal until such funds have aggregated ag- ag j making the total total total to- to I tal of ot the trust fund approximately |