In 1838 proper Bostonians were properly appalled at the way Amherst was snapping up scholarship students and leaving Harvard far behind. Good Harvardmen quickly raised an $11,350 fund of their own; soon it was known as the Lowell Trust, after the Lowell family treasurers, who began running it in their spare time during the Civil War. In 1922 the job fell to a modern and most civic-minded Lowell, astute Banker Ralph of the Boston Safe Deposit & Trust Co. By last week, when he finally decided to hand the reins over to Harvard itself, the fund had lent $1,435,969 to 10,500...
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