Of this latest gift $1,000,000 goes to the university unconditionally. To the remaining $2,000,000 the proviso is attached that the trustees are to raise a similar amount or its equivalent between this time and the beginning of the year 1900. This additional money is to be exclusive of any that may be pledged at this time. The trustees say they have not the least fear of being unable to raise the full amount and assert that the entire $3,000,000 is already as good as theirs.
Even should the trustees be unable to raise the $2,000,000, Mr. Rockefeller's offer will not become wholly inoperative, for the reason that he agrees to offset gifts as fast as they are made up to the $2,000,000 limit. By this means every dollar given the university during the next four years will represent double its face value.
Some time ago a committee representing the trustees proposed a visit to Mr. Rockefeller for the purpose of conferring with him regarding the needs of the University. Mr. Rockefeller replied that a trip to the East would be unnecessary, and announced that he would send Mr. Gates to Chicago to represent him. To Mr. Gates the trustees said that they needed about $4,500,000 to place the University in a position to do the work that had originally been outlined for it. Mr. Gates left the city without intimating his opinion of the probability of Mr. Rockefeller approving the plans of the trustees, and the announcement just made was the first word that had been received in Chicago regarding Mr. Rockefeller's feelings in the matter. Mr. Rockefeller has already given $4,400,000 to Chicago University.