Dartmouth College received $70,000, the residuary estate of Dr. R. Melville Cramer '77 of New York, who died December 3, 1929, with the filing of the estate for tax appraisal in June. Eleven trusts, totaling $185,000, also will revert to Dartmouth upon the deaths of the beneficiaries.
According to the will of Dr. Cramer the residuary estate and the principal of the trust funds when finally turned over to the College will constitute a fund to be known as the R. Melville Cramer Foundation. The fund is to be invested and the income used for fellowships. The clause in the will designating the use of the bequests reads as follows:
"The prime object of this Foundation is to furnish fellowships to young men, Dartmouth graduates and others, who have shown unusual ability, expecially in genetics or in original laboratory investigations, the stipend or emolument for each of whom annually is to be determined by the Board of Trustees, but I suggest that it should be not less than One Thousand Dollars ($1,000) or more than Twenty-Five Hundred Dollars ($2,500)."