- Associated Press - Friday, September 18, 2015

EASTON, Pa. (AP) - The National Museum of Industrial History and Lehigh University have agreed to split $5.5 million from a trust fund set up nearly 30 years ago.

The university and the museum announced a settlement Friday.

Lehigh will get a 60 percent share, and the museum will receive 40 percent.

The university plans to use the money for scholarships, while the long-delayed museum will use it on exhibits and to defray opening and operational costs.

The trust was set up by Bethlehem Steel to indemnify a group of executives. The money was supposed to go to Lehigh if it the trust did not have to pay any claims. A group of former company officials who had been covered by the trust sought to change the beneficiary to the museum, on whose board many of them sit.

Sign up for Daily Newsletters

Copyright © 2019 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide