Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1913-10-15
ALTMAN REQUESTS
TO 500 EMPLOYEES
Jerseyite Gets $5.ooo-Art
Treasures Worth 100000
Go to Metropolitan Museum.

. NEW YORK, Oct 1.-THE will of
the late BENJAMIN Altman, merchant
and art connoisseur, who clerked in
n dry goods store In Newark fifty
years ago, has been filed in the sur
rogate's office.
The document disposes of an es-
tate estimated at $5O,OO0,OOO. The
largest single bequest is that of
the Altman collection of art treasures.
4 which is given to the Metropolitan
| Museum of Art for the use of the
public. Art experts have conserYa-
lively estimated this collection to be
worth $4,000. 900.
Among the other legacies were: A
/ fund of $4,000 to maintain the COL
/ lectionin the museum; 500, 900 to each
of six nieces and nephews of Mr.. Alt
man; $4,000 to Mrs. Eta F. Fried,
another niece. who lives in Stamford,
/ Conn; share in the residuary estate,
valued in the millions, to Michael
Friedsam, vice-president of b. Alt
man & Co.; the department store in
which his business was conducted to
his partners (the plot alone is valued
at $4,000, 000) and to the association
of employees of B. Altman 81 Co.
] $4,000 and to Mount Sinai Hospital
i 100000.
Mr.. Altman's thought for his en-
ployees is the most striking feature
of his will. which is more than 10000
words in length. He left $1,000 each
to the following:
Miss Jennie Stack, 230 West Sew
enty-sixth street, who has seen thir-
ty-five years In the firms service;
Miss Lillian McKeown, 311 West
Twenty street, twenty-five
years service: Charles Haynor, ass
Highland avenue, Arlington, N. j.,
thirty-five years service; Miss Eta
White, 166 West One Hundred and
Twenty first street, twenty-five years;
Abraham Trier, 463 Lexington avenue.
forty years; Emmanuel Txier, 6O9
West One Hundred and Fourteenth
street, thirty years; Benjamin Jen-
kns, 200 C1aremont avenue. thirty
first street, twenty years: Miss Fred
eriche Schmidt. 1923 Nelson avenue,
the Bronx, twenty years.
To Mrs. Emma Some, his house
keeper for eight years, $4,000; to Gus
tave Swenson, his valet for the same
period $1,000, and to Michael Dolan,
for fourteen years his coachman'
$1,000
To Theodore Y Hobby and Arthur
]. Boston. his private secretaries, Mr..
Altman willed $4,000 each, and stip-
ulated that each of his employees
who had been with the firm twenty
years should receive $4,000 each,
more than eighteen years, $1,000, and
more than fifteen, $1,000. About 800
employees will share in this generous
gift.
The sum of $4,000 is set apart for
a monument to be erected at Salem
Fields, the Altman burial plot to Mt.
Sinai Hospital; 100000 to the Ma
tional Academy of Design for fur
nishing prizes. and many other be-
quests of smaller sums are made. Mr..
Altman's capital stock in the firm
which bears his name is left to the
Altman Foundation, an organization
for the advancement of the interests
of the firm and to aid its employees.
The executors are Michael Fried
sam, DR.. Bernard Sachs and Edward
J. steiner The will expressly states
that they shall not be required to fur
nish bond.
The stock in the Altman Company,
which is believed to be worth be-
tween $4,000, 900 and S30000,000, Mr..
Altman left to the Altman Founda-
ton, corporation created by special
act of the present State Legislature.
The income of the stock is to be
applied under the terms of the will
to the support of such philanthropic
and charitable institutions as may
be selected by Mr.. Altman's des!g-
nees and SUCCESSORS after the inter-
ests of the employees have been
looked after through a profit-sharing
system