Farm Boy-Turned-Financier Leaves $15-Million to Maine School

A Maine farm boy who grew up to be a millionaire New York investment banker has left $15-million to the small private school from which he graduated in the 1930s, reports the Sun Journal of Lewiston.

The bequest from Bion R. Cram, who died in December 2008 at the age of 93, will finance scholarship and other academic resources at the 207-student Fryeburg Academy. A portion of the gift had been advanced to rebuild the school’s gymnasium after a 2005 fire and construct a performing-arts center.

The remainder of Mr. Cram’s $28.5-million estate was left to his collegiate alma mater, Bowdoin College in Brunswick, Maine.