An endowment fund to support visiting lecturers' appearances at the State University of Iowa was established following the death in 1945 of Mrs. Bessie Dutton Murray, widow of John F. Murray (1872-1936), of Wheatland, Iowa. According to Mrs. Murray's will, her $150,000 gift to the University was to provide scholarships and lectures in the fields of business administration, journalism, and law in memory of her husband.

John F. Murray was born September 28, 1872, in Monroe, Iowa. Early in his career he was appointed to the advertising staff of the Wrigley chewing gum firm where he coined the highly successful trade name, "Juicy Fruit." Later, Mr. Murray established his own advertising agency in New York, and in 1909 created the Murray Newspaper Service and the Murray Syndicate Cut Service. He also formed the Wyeth Chemical Company which ultimately absorbed several drug companies and became the American Home Products Corporation, one of the largest firms in its field.