Hartwick College’s 1,000 Year Trust Fund

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Hartwick College is a liberal arts school in Oneonta, NY that received a inheritance in the 1930’s that is to collect bank interest for 1,000 years.

…thanks to an eccentric New York lawyer in the 1930s, this college in a corner of the Catskills inherited a thousand-year trust that would not mature until the year 2936: a gift whose accumulated compound interest, the New York Times reported in 1961, “could ultimately shatter the nation’s financial structure.” The mossy stone walls and ivy-covered brickwork of Hartwick College were a ticking time-bomb of compounding interest—a very, very slowly ticking time bomb.

 

http://www.laphamsquarterly.org/essays/trust-issues.php?page=all

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