The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-01-27
ALTMAN EXECUTORS
DISBURSE 100000
Hospitals. Art Institutions and
Others Receive LegacieS cc
Philanthropist.
ESTATE WORK Is PRAISED

Executors OF the estate of Y kr.n
sat in the board room Of B Altman q
60. yesterday afternoon and with ,,e.v
expression ~ relief handed over -,.,..
checks amounting ~ $3.50. 0OO g., us rr...
hospitals and other institutions \ snort
time before they had sent mp FUu t,c.
nue. to the Metropolitan Museum %. 49,.
$4,000 more, making S5Oo,oOu 900 .l
The institutions to receive the br,..s
left by the merchant philauthiopiy' VINO
died on october :. 1913. were the Moan,
Sinai Hospital. which got S10o.ouu. 80
Luke's Hospital, $4,000; German II.s.
ptal and Dispensary, $4,000; the Sow
York Eye and Ear lunrmary. $2ouuu:
Lincoln Hospital and Home. $4,000. the
Educational Alliance $4,000, and the
National Academy of Design. $loOonp
Disbursements yesterday afternoon V.rs
made at I o'clock. and little bcfor, 'Hl,
time the executors, headed by N.,llel
Friedsam, now president Of the Altman
Corporation, Or Bernard Sachs. George
Il. Read and T. Steiner, were seated "a.
the directors table la the board room
While the room itself and the oNcyut.vs
offices are all panclled in heavy carved
oak which once graCcd the Altman home
there was another attraction To tie
portrait OF the founder of the firm ibcra
had been added a new portrait ~ Mr.
Friedsam. presented by tho employees o,
the company In token Of their appreciation
Of his kindness to them.
The representatives, Of the legatee4 W..
all very prompt. Secretary Clover " 81
Buke's got his $4,000 check aul SAID
some very nice things to the executors
about promptncss and busnesslke man
agement Then came Vice President Good
N.sIt.
with a check for 100000; william Solo.
mon of the Educational Alliance found hi,
$50. 900 check ready. Mr.. Walters and
Mr.. Jones Of the National Academy Of
Design found the 100000 waiting to b.
taken away. II was all over in about ten
minutes. except the extra time taken hy
the visitors who wanted to testify also 20
the promptness and skll with which the
great estate had been handled
That IL why the executors were relieved
yesterday.
This is the very last thing We have to
do" said Mr. Friedsam It meant that
since the date Of taking out their letters
the four men have succ, ssfully completed
tho settlement ~ a SiO,O0O.000 estate with
host OF l"gacics, with property lon various
shapes. with clauses TO be construed and
with State taxes to be paid. Now the
Altman Foundation, tho Metropolitan Nh
scum Of Art. relatives and faithful ,m-
ploEe'S nave All o'tl Hel'tth WIN anu
the purposes OF the merchant accom-
plishcd
This does not mean that the executors
are to be discharged under the will I'M
asmuch as the bulk OF the fortune gn,s foo
the foundation. which IL To perpetual, t1"
business. the surplus income after dis
tribution. under "A profit sharing trust. IS .
go To- charities that they pick out Etr
the magnificent collection Of painting.
valued at more than $40, 900 900 has hp.r
placed. the bequests have been pai' uH
the estate will run ON almost automatic.
ally under the system which has been De-
Vised for IL