NEW YORK (Oct. 24)
A gift of $100,000 to endow a fellowship for the purpose of fostering better relations between capital and labor was acknowledged by Harvard University today.
The money, the gift of the family of the late Jacob Wertheim of New York City is to provide and endowment for the Jacob Wertheim research fellowship for the betterment of industrial relationships, which is to serve as a memorial for the merchant and philanthropist.
The givers of the Wertheim endowment to Harvard University are Mrs. Emma Stern Wertheim, the widow of Jacob Wertheim, and their five children, Angelika W. Frink, Albert Wertheim, Diana Wertheim, Maurice Wertheim and Viola Wertheim.
Although business, labor and research organizations will be asked to suggest candidates, the fellowship will be open to all who wish to become candidates, throughout the country.
Jacob Wertheim accumulated a fortune from small beginnings. He went to work as a boy of 14 and drifted into the cigar business after several years. Starting with a tiny cigar and tobacco shop at Third Avenue and Fifty-fourth Street, he rose steadily, and finally organized the United Cigar Manufacturers’ Company, with a $20,000,000 capital stock issue.