Show Kresge Creates Big Endowment f for or r Philanthropy G 4 r NEW YORK May lay 13 11 Se Ay-Se- Se Sebastian bastian S S. S Kresge head of a chain of 5 and cent 10 stores has hask k established a endowment endowment endow- endow ment for and education education tion Uon I The exact application of ot the InCome Income income In- In come is yet jet to be determined An initial gift gUt of ot was wast t k made in 1924 but never revealed till UIl announcement of ot a second gift of yesterday Further gifts are arc to be bc made as work progresses pro pro- The endowment starts with an income of a year which Is expected to reach several million eventually The latest gift consists of shares of the S S. S S S. S Kresge common common cornmon com corn mon stock which has a market value of 45 a share Mr Kresge started his fortune In Detroit in 1897 when he opened a a. store with capitalI capital I His second wife Mrs Doris Mercer Mercer Mer Mer- Kresge recently sued to compel com corn f pel pet him to carry out a n. pre-nuptial pre t contract to give her stock A settlement settlement set set- f- f was effected |