New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-10-15
EMPLOYEES BENEFIT
BY ALTMAN WILL
Merchant Remembers Many
Who Aided Him in Build
ing Up His Great
Enterprise.
STORE PROPERTY TO FIRM
Testator Gives His S12, 900,
600 Collection of Art to the
Museum-Largest Gift
Ever Made to 1t Out
right, It Is Said.

Ever Made to It Out
right, 1t Is Said.
The will Of Benjamin Altman. filed In
the surrogates' Court yesterday. is
human document. In the twenty-odd
sheets. written on both sides. there is
seen the purpose Of Mr.. Altman so to
distribute his estate, which has been
estimated at S4O.ONO.OO0 that all his
! kin shall be remembered and that his
employees shall be rewarded.
| Mr.. Altman made munificent gifts to
many employees and made ii possible
for all hereafter to share in the profits
of the business he founded And
| finally. Mr. Altman gave to the Metro
politan Museum his entire collections
Of paintings. Chinese porcelains. tapes
tries. rugs. Limoges. cnamels. crystals
marbles and bronzes all estimated 20
| be worth S12OOO.OO0. Among the
and Velasquoz Those by Velasquez
include portraits Of Philip " Of Spain
and his minister. Ollvares. Another is
the Rokeby Venus" The Rembrandts
include The Man With Magnfying
Glass" 1t is the largest single gift ever
made outright 20 the Metropolitan Mu-
scum.
Must Abide by Conditions.
Mr.. Altman imposed on the museum
certain conditions which must be
agreed TO by the directors in the form
OF a contract with the executors OF the
will. who shall be judges as to whether
these conditions have been carried out.
The museum is bound to provide and
maintain in freproof building room
large enough to contain the paintings.
statuary, rock crystals and emeralds
and another to contain the Chinese
porcelains. The museum is asked 10
execute the necessary contract not later
than three months after the probate
OF the will
| Mr.. Altman asked that the rooms 10
hold HIS collection should adjoin each
other and not be smaller than the space
| they occupied In the Altman home. No.
| / West 10th street and No. 626 Fifth
avenue. Mr.. Altman asked that his
| two secretaries. Theodore Y. Hobby
/ and Arthur J. Boston. be retained by
the museum TO take care OF the c)liec-
! ton. and he created a trust fund of
| SlJO.OOO 10 pay Hobby and Boston for
1 this work and TO defray the cost Of car
| ing for the collection. Mr.. Altman also
gave each OF his secretaries $1,000
| In case there e. any breach Of the
contract by the museum Michael Fried
sam and DR.. Bernard Sachs, executors.
are authorized 10 incorporate the Ait
man Art Museum OF New York 10 hold
/ the collection. In that case the will
provides fund Of $2JO,OOO for the
care Of the collection and $4,000 10
remodel the home OF Mr.. Altman to
| hold the collection. Should this mu-
scum become unsuitable Mr.. Altman
provided $650.OOO and as much more OF
| the proceeds # the sale Of his home as
the executors deem necessary to put up
a new building.
Gives Encouragement to Art.
For the encouragement and advance
ment OF art in the United States Mr..
Altman gave 100000 to the National
Academy OF Design. to be held as
trust fund, from which annual prizes
OF $1,000 and 500 are to be paid 10
American born artists for the best ex-
amples OF figure or genre painting and
similar prizes for landscapes.
| Mr. Altman's bequests TO charity
were: Mount Sinai Hospital. $780,
go, half for the department of nervous
diseases and half for general purposes;
| ST. Luke's Hospital. S25.UO; German
Hospital, $4,000; New York Eye and
Ear Infirmary. $4,000: Lincoln Hos
pital, $4,000. and Educational ALI
ance. $4,000.
Michael Friedsam, a business as
sociate is made residuary legatee. He
will also succeed Mr.. Altman as presl-
dent OF B. Altman & Co.
All through the will there runs "A
] spirit OF deep regard for the welfare OF
| his employees and n determination to
reward them for their part I'm the con-
duct OF the business OF g. Altman e.
Co. Besides giving $4,000 to the
Mutual Benefit Association of the EN-
| ployes OF B. Altman q co. and all the
| stock he held in IL to the Altman
| Foundation Inc. MIR. Altman gave to
several employees blocks of stock. while
to others he gave sums ranging from
| 5000 to $1,000. according TO the re-
cipients length Of service. Some OF
those who received gifts Of stock al
ready owned shares.
Large Gifts to Employees.
Mr.. Altman said In his will that II was
his intention to give shares OF stock from
time 10 time to his employees. and any
such gifts made in his lifetime should be
deducted from the shares left to them In
| his will. To the following employees he
gave $4,000 each: Miss Agnes Morelle.
Mrs. Jennie Stack. Miss Dora w. Pope,
| Miss Lillian McKeon. Charles Haynor.
Miss Eta Witte, Abraham Trier. Emanuel
Trier BENJAMIN Jenkins J. II. Doran and
1 Vol NH