Dr. Selman A. Waksman, who made enough money as co-discoverer of streptomycin to finance a $1,000,000 Institute of Microbiology at Rutgers University (TIME, May 16, 1949), last week turned over half ($40,000 a year) of his remaining royalties to a new foundation. Its purpose: to support professorships and fellowships, finance the publication of technical papers and books, sponsor scientific meetings, and help in the development of microbiological discoveries for practical use in all parts of the free world.
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