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Felix Warburg Joins Community Trust

July 24, 1923
See Original Daily Bulletin From This Date

The Community Trust Idea is gaining ground in New York, Felix Warburg and other prominent bankers having joined in sponsoring the Trust to administer funds in small or large amounts for general or specific educational and philanthropic objects.

Regarding the opening of the organization Mr. Warburg said:

“Experience in Cleveland, Boston and elsewhere has indicated that the Community Trust plan can decrease obsolescence and reduce the waste involved in bequests that have ceased to serve useful purposes. It will tend to make benefactions more effective and less haphazard.”

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