Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-09-26
JACOB H. SCH|FF,
T FAMOUS BANKER,
DIES SUDDENLY
Passes Away in His Home
in New York at Age Of
Seventy-Three.
WONDERFUL CAREER OF
INTERNATIONAL FiNANCiER
Foremost in Jewish Charities
and Champion of Good
Government.
(By Associated Press.)

NEW YORK. Sept. 25.-Jacob IL
Schiff, widely known banker and phi
lanthropist, died at his homo here
tonight in his 73ri year.
Mr.. Schiff's death was due to ar
tcrio- sclcrosis. He was stricken six
months ago. members OF tho family
said. but had not suffered to any
extent until August, when he was
compelled to return homo from a So
journ in the White Mountains. His
condition gradually became worse and
no was confined TO his homo ten
days ago.
Mr.. Schin's wife. his son, Mortimer
L. Schiff. and his daughter, Mrs. Felix
Warburg. were called to his bedside
this afternoon when physicians gave
up hope of recovery.
Two brothers. Phillip and Ludwig
Schiff, merchants OF Frankfort-on-
Main, Germany. also survive him.
Long Prominent In Finance.
Tho name OF Jacob II. Schiff has
been associated with tho financial
history OF New York and of this
country for a quarter OF a century.
At intervals In that time Mr.. Schiff
took an active part In tho financial
development of some OF the leading
railroads and utility corporations in
tho United States.
Backed by foreign capital. MIR.
Schiff and the firm OF Kuhn. Loeb &
Co. supported the late L. IT. Harri-
man in the great financial adventure
by which the Union Pacific Railroa 4
was reorganized In 1897, and in tho
subsequent transactions by which the
DIR oh col a
Southern Pacific and other railroads q.
This operation Is regarded as one
OF the most important In which Mr..
Sohlff engaged as a banker. 1t In
volved Il vast sum OF money. possibly
hundreds of millions OF dollars, gave
Mr.. Schlfr prestige among New York
banking houses which endured for the
remainder of his life. and 1t contri-
huted 20 make L. II. Hartman tho
best-known railroad organizer In tho
United States.
Placed Jnpnncse Lonn.
Another important enterprise which
Mr.. Schiff undertook as head OF his
firm was the placing in this country
OF large Japanese loan when Japan
went to war with Russia. Some years
later Mr.. Schiff expressed regret that
he had been instrumental in providing
funds which helped to place Japan
among the leading nations OF the
world as military power.
Born at Frankfort. Germany, Janu-
airy 10. 1S47. Mr.. Schif was educated
in Germany. and when he was IS re-
moved TO New York. where he entered
upon his business career. beginning
as n bank clerk. A few years after
ward no became member OF a firm
OF bankers and brokers. In 1875 Mr..
schiff married Theresa, daughter of
Solomon Loeb, and became a mem
Der of the firm OF Kuhn. Loeb 6.
Co.. OF which his father-in-law was
then senior partner.
When Mr.. Loeb retired ten years
later. Mr.. Schiff became head of the
firm and has since occupied that no.
sition. After his successful share
In tho financing OF the Union Pacific
reorganization, Mr.. Schiff became one
OF tho most widely known and in
huential bankers of New York. lie
has been director of several OF the
leading banks. trust, life insurance,
railroad and utility companies. in