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[Donaldson, in 1763, started a twice-a-week newspaper under the name of the Edinburgh Advertiser, which was for a long course of years the prominent journal on the Conservative side, and eminently lucrative, chiefly through its multitude of advertisements. All his speculations being of a prosperous nature, he acquired considerable wealth, which he left to his son, the late Mr James Donaldson, by whom the newspaper was conducted for many years. James added largely to his wealth by successful speculations in the funds, where he held so large a sum that the rise of a per cent. made him a thousand pounds richer than he had been the day before. Prompted by the example of Heriot and Watson, and partly, perhaps, by that modification of egotism which makes us love to be kept in the remembrance of future generations, James Donaldson, at his death in 1830, devoted the mass of his fortune—about £240,000—for the foundation of a hospital for the maintenance and education of poor children of both sexes; and a structure for the purpose was erected, on a magnificent plan furnished by Mr Playfair, at an expense, it is said, of about £120,000.