DUKE ENDOWMENT, THE, an American charity fund established by James B. Duke by indenture dated Dec. 11, 1924. The administration of the fund is vested in a self-perpetuating board of 15 trustees. The initial gift by Duke somewhat exceeded $40,000,00o in value. Of this amount up to $6,000,000 was to be used in connection with building and equipping Duke univer sity. Twenty per cent of the net income is to be reinvested until such reinvestments aggregate $40,000,000. The remaining income is distributable as follows: Duke university, 3 2% ; hospitals not operated for private gain in North and South Carolina, 3 2 % ; Davidson college, 5 % ; Furman university, 5 % ; Johnson C. Smith university, 4% ; orphanages in North and South Carolina, 1 o% ; superannuated preachers having served in a North Carolina con ference of the Methodist Episcopal Church, South, 2%; building and operating rural churches of the Methodist Episcopal Church, South, in North Carolina, 6% and 4% respectively. By his will Duke added to the fund $1o,000,000 together with two-thirds of his residuary estate. Of the $1o,000,000, $4,000,00o may be used for providing hospital, medical school and nurses' home facilities at Duke university, the income from the balance of $1o,000,000 going to Duke university. He further provided that $7,000,000 out of two-thirds of the residuary estate are to be used for pur poses of building and equipping Duke university, io% of the in come going to Duke university and 9o% for the benefit of hospitals not operated for private gain in North and South Carolina.