Widow Pledges $100-Million to N.C. Scholarship Fund
February 15, 2007 | Read Time: 1 minute
Mary Cain—the widow of Gordon Cain, a co-founder of Petro-Tex Chemical (now Texas Petrochemicals, of Houston)—has pledged $100-million to the John Motley Morehead Foundation, reports The Wall Street Journal.
The money, which will be paid out of the Gordon and Mary Cain Foundation, will be used to help the fund increase the number of scholarships it offers each year for students at the University of North Carolina at Chapel Hill—up to 80, from the current 50. The Morehead Scholars program is the nation’s oldest merit scholarship, established in 1951, the paper says.
Ms. Cain, who is 81, says she chose to give the money to an established scholarship fund rather than create her own because “I wanted to see it work in my lifetime.” Her late husband died in 2002 at the age of 90.
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