Hebrew and charitable institutions will get $425,000 under terms of the will made by Benjamin Stern, president of Stern Brothers who died March 8, 1933, it was revealed in an appraisal filed yesterday in the New York State Transfer Tax Department. About $2,000,000 was left to relatives and friends.
Mr. Stern left a net estate of $2,344,382. After bequests of $10,000 to William Leutsche, his secretary, and $5,000 to four servants, the residue was left in trust to his widow, Madeleine, with Mr. Letsche and Robert Stearns as executors.
Mrs. Stern was also given the power of appointment and if this power were not exercised $425,000 was to be distributed to various Hebrew institutions and $2,000,000 to friends and relatives, at her death. Under her power of appointment, however, plans for the distribution of the estate were not changed. She died Sept. 22, 1933.
Under terms of the will, the executors are to distribute $50,000 to institutions for the blind and another $50,000 to charities not mentioned in the will.
Among institutions to receive $25,000 each are the Federation for the Support of Jewish Philanthropic Societies, Mount Sinai Hospital, Free Synagogue Child Adoption Committee, Committee for the Care of Jewish Tuberculars, Stony Wold Sanatarium and the Maternity Care Association.