New York (Aug. 25)
Eleven years after the death of Jacob H. Schiff, the great banker and leader of American Jewry, a final appraisal of the value of his estate has been filed with the deputy commissioner of taxation and finance in which the total figure is given as 35,162,932 dollars, and the net as 34,388,156 dollars.
An explanation of the delay which has extended beyond the death of Jacob Schiff’s son, Mortimer L. Schiff, was contained in a memorandum attached to the papers. The will carried provisions for distributing 1,350,000 dollars to various Jewish and non-Jewish charitable institutions.
Contributions to philanthropies totaling many millions that had been made in Mr. Schiff’s life-time are not included; nor are several trust funds established during his life-time for his wife and several of his relatives.
The residuary estate is divided between his son Mortimer L. Schiff, who died early this summer, and his daughter, Mrs. Frieda Schiff Warburg, the wife of Mr. Felix M. Warburg. The widow was provided for in a trust fund established in 1910 from which she was to receive the income regularly with the principal divided equally between the son and daughter after her demise.
Mr. Schiff’s public bequests included half a million dollars to the New York Jewish Federation; 300,000 dollars to Montefiore Hospital; 100,000 dollars to the Union of American Hebrew Congregations; 150,000 dollars to the Jewish Theological Seminary and 25,000 dollars each to the Israelite Orphan Asylum of Frankfurt and the Solomon and Betty Loeb Hospital Home for Convalescents. Other bequests to public institutions were made to New York University and Harvard University; to the Metropolitan Museum of Art, the New York Public Library, the Henry Street Settlement and to seven other institutions.