LORD NUFFIELD’S GIFT

Southland Times, Issue 23024, 19 October 1936, Page 7

LORD NUFFIELD’S GIFT

FORTUNE ESTIMATED AT OVER £ 20,000,000

“NEW INCENTIVE TO WORK”

(British Official Wireless.)

(Rec. 5.5 p.m.) Rugby, October 16. The terms of the letter in which Lord Nuffield made his great gift to Oxford University are announced. He is to give £1,250,000 in trust to the university for the development of the university’s medical school and the Nuffield Institute for Medical Research, to provide a great post-graduate school with senior posts for men and women not subject to the distractions of private practice, under whom will be a body of salaried clinical assistants and house officers.

Since Lord Nuffield’s gift lay an entirely new responsibility on the university, without depriving it of any of its present expenditure, he has promised to contribute a further £100,009 to the forthcoming appeal for funds to endow the future maintenance of the Bodleian Library and a new laboratory for physics, geology and other developments.

Lord Nuffield’s fortune is estimated at over £20,000,000.

“I was getting bored. Now I have a new incentive in working for the shareholders,” said Lord Nuffield when interviewed about the Morris Motor shares which caused unprecedented scenes on the Stock Exchange on Thursday. Referring to the interest of the public in the shares he added: “There is no responsibility in looking after one’s own money, which means nothing to me. Indeed, I could easily go back to where I started. I might be happier if I did, but having earned the money I wish to alleviate suffering, in which I believe Britain ought to lead the world. I hope that Oxford University every year will produce 20 brilliant men who will teach in other centres.” £35,000 FOR THE BLIND DEVELOPMENT OF TALKING BOOKS. (United Press Assn.—Telegraph Copyright.) (Rec. 7.30 p.m.) London, October 17. Lord Nuffield is giving the National Institute for the Blind £35,000, payable in seven yearly instalments, in order to develop talking books for the blind. This will be supplementary to Lord Nuffield’s gift of £5OOO for the same purpose in 1936.