Despite his varied investments across the world North's finances eventually dwindled, his decline was accelerated by the Chilean Civil War. By the time he died on 5 May 1896 his business empire had collapsed. His death occurred within half an hour of eating some oysters and the shells were sent for analysis but it was suspected that heart problems were the cause of death. He donated Kirkstall Abbey to the city of Leeds, a plaque in the Gift Shop of the Abbey is inscribed "The Abbey and part of the adjoining lands were acquired from the representatives of the Earl of Cardigan by Colonel J.T North a native of Leeds and presented by him to the Corporation of Leeds in the year 1889 to be held in trust for his fellow citizens as a place of public resort and recreation for ever works of preservation were completed by the Corporation in the year 1895". North also made donations to Leeds Infirmary and the Yorkshire College of Science, which later became the University of Leeds.