Lloyd Warren, president of the Society of Beaux Arts Architects, announced yesterday that the society had received a gift of $20,000 from Mrs. Goelet, Mrs. Harry Payne Whitney, Mrs. Richard Auchmuty and W. K. Vanderbilt. This will enable the society to create a fund to defray the expenses of the Paris prize. This, conducted by the society, gives to the winner by the authorization of the French government, the privileges of following the lectures and of taking part in the competition of the first class in architecture at the Ecole des Beaux Arts, of Paris. He must, however, have already successfully pursued studies corresponding to those prescribed in the second class of that institution, for which condition he will be allowed six months to qualify. The winner, moreover, receives a stipend of $250 quarterly, which should last two and a half years.
    Competitors for this prize must be under twenty-seven years of age on July 1, 1908. There will be two preliminary sketch competitions and a final competition on March 7, April 6 and May 16, respectively. The prize is open to all Americans independently of their connection with the Society of Beaux Arts Architects.
    This privilege of the Paris prize has been enjoyed by the society for four years. The three students who have already been sent abroad received $3,000 each on winning the Paris prize. These sums were paid by Andrew Carnegie, J. Pierpont Morgan and A. D. Juilliard, respectively. With its new fund of $20,000 the society can send a student to Paris every three years, allowing him $2,500, and hopes to raise $40,000 more to send a student to Paris every year.
    The first student sent out, George A. Licht, distinguished himself in every way and stood at the head of his class. The two men now in Paris are said by Mr. Warren to be likewise doing remarkably good work. At the last competition of the Ecole des Beaux Arts one of them, Mr. Wynkoop, was ranked first, and his junior, Mr. Hirous, was ranked closely after him, both receiving first medals.
    The Society of Beaux Arts Architects has established a course of study for architectural draftsmen, modelled on the system of the Ecole des Beaux Arts, with the intention of cultivating among these the principles of their art which the members of the society have learned in Paris.
    Any group of students may choose a master under whom they wish to study, and, under the auspices of the society, exhibit their work in competition with other groups of students studying under other masters. A jury drawn from the members of the society will judge the work exhibited and give awards to the drawings which merit them.
    It is not the object of the society at present to provide a complete course in architecture, as this is done by several universities, but so to prepare draftsmen in offices that they shall be familiar with the general principles of architectural composition in plan and in decoration and have a sufficient kowledge [sic] of arch�ology, or the study of styles, to enable them to discriminate between the different epochs of design.

Source:

Unknown, "Gift To Beaux Arts, Addition of $20,000 to Fund for Paris Prize for Architects," New-York Tribune, Thursday, 28 November, 1907, page 6.