LOVELAND, Colo.—A donation of stock shares to the Loveland Public Library has now grown large enough to build the library’s poetry section and start on an expansion.
Lula Colwell donated 3,200 shares of Proctor & Gamble stock worth less than $9 each in the late 1980s. She made the stipulation that the proceeds benefit the library. Colwell is now deceased, but her donation is now worth more than $190,000. That’s $60 a share.
Library officials talked to Colwell heirs about selling the stock to help start fundraising for a $9.4 million expansion of the library. The grandchildren agreed.
The Loveland City Council planned to consider selling the stock at a Tuesday meeting.
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Information from: Loveland Daily Reporter-Herald,
