Search JTA's historical archive dating back to 1923

Bamberger Gives $1,000,000 to 236 Employes

September 18, 1929
See Original Daily Bulletin From This Date

Louis Bamberger, retiring head of the Bamberger Department Store, of Newark, yesterday fulfilled the promise made a month ago that he would discharge his personal obligations to the employees of the store who had worked with him for more than 15 years, when he handed out checks in the amount of $1,019,000.

Two hundred and thirty-six employees benefited by the bounty of Mr. Bamberger, one receiving as much as $18,000 and several $10,000. The gifts were fixed, according to term of service, salary and age of recipient, by a firm of actuaries. The presentation was accomplished with the utmost simplicity. To safeguard them from approach of fake stock salesmen, the list of those receiving the gifts was withheld. Just after the store closing, the recipients were called together, and heard a brief address from Mr. Bamberger: “It has been the greatest pleasure of my life to make this nice offering. If L. Bamberger and Company hadn’t been a success, I wouldn’t have been able to make this nice offering,” he declared.

Recommended from JTA