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Lavanburg Housing Foundation to Get $1,146,722 Residue of Estate

December 14, 1928
See Original Daily Bulletin From This Date

Other Large Bequests Made to Charitable Institutions

The estate of Fred L. Lavanburg, who gave liberally of his fortune during his lifetime for better housing of the poor and to many other philanthropies, was appraised at $3,024,471 net by Maurice A. Stephenson, Deputy Commissioner of Taxation and Finance.

The Fred L. Lavanburg Foundation, a housing project, which he founded with an endowment of $750,000 a year or more before his death on November 5, 1927, receives the residue of his estate, amounting to $1,146,722. The residuary estate was reduced by debts of $2,197,481, some of them on stock brokerage accounts.

Mr. Lavanburg also left $500,000 to the Hannah Lavanburg Home, an institution for girls, which he founded in memory of his mother, and to nine alumnae associations of hospital training schools for nurses $3,000 each.

Mrs. Sarah L. Straus, sister, widow of Oscar S. Straus, former American Ambassador to Turkey, receives $302,355. To Louise Heckler, of Stamford, Conn., a friend, Mr. Lavanburg left $250,000, jewelry valued at $7,055 and the income for life from a trust fund of $150,000. Bequests of $100,000 each were left to two nieces and a nephew, $10,000 each to ten grandnephews and grandnieces. Fifty-eight employees received $362 each.

Commissioner Stephenson’s appraisal showed that besides the legacies to the Fred L. Lavanburg Foundation and the Hannah Lavanburg Home the testator in 1926 and 1927 gave to the foundation $353,566 and 5,000 shares of the New York Transportation Company, and to the home shares valued at $601,941. The Metropolitan Museum receives a Flemish tapestry valued at $4,500.

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