The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-05
SCHIFF'S GIFTS
ARE S1,35O,O0O
Gentle as Well as Jewish
Institutions Are Gener-
ously Remembered.
N. Y. BENEFACTIONS MANY
Children Divide Residuary Es-
tate Estimated at Fifty
Millions.

The will of Jacob Schiff, financier
and philanthropist, disposing of an es-
tate unofficially estimated at more than
$50,O00000, was filed yesterday in the
Surrogates' Court. He gave $3.50, 900
to charity and divided the residue of
his fortune between his son. Mortimer
l.. Schiff, and his daughter, Mrs. Felix
NJ. Warburg
Mr.. Schiff named his wife, Therese
Schiff as an executrix Of his will, but
not as a legatee. He explained that
she had been provided for amply. In
separate document, which was not
filed, Mr.. Schiff made provision for his
personal employees and the employees
CT the banking house of Kuhn. Loeb &
Co., of which he was the head. Attor-
ney r. II Nelson of the law firm OF
Cravath & Henderson. attorneys for
the executors. stated that it will not
be necessary to place this memoran-
dunn on record TO give IL, effect.
In addition to his wife Mr.. Schiff
named as his executors his son. NIorti-
mer l.. Schiff:. Felix VI. warburg. his
son-in-law; Paul NJ. Wnrburg brother
of Felix NJ. Warburg; Jerome n. Han
auer, partner In Kuhn. Loeb & Co.,
and Walter \. Rothschild. The viii
directs that only three of the execu-
tors, in addition to Mrs. Schiff. qualify
In the order named.
Trusts for Grandchildren
The will contained elaborate provis-
ions for trust funds for the benefit of
grandchildren, in the event that the tes-
tator's son and daughter should not
survive their father. AS the son and
daughter are alive, the attorneys for
the executors pointed out these pro-
visions are inapplicable.
During his lifetime Mr.. Schiff dis
pensed his money freely in philan-
throplc work. giving millions TO the
! causes in which he was interested. He
built and maintained orphanages es-
tablished hospitals and synagogues and
gave generously 10 individuals. The
last fifteen years of his life we're de-
voted 10 aiding Jews the world over
with his funds and his personal devo-
ton. He was president or trustee of
many of the institutions he named as
beneficiaries in his will.
His testamentary gifts to charity in
Cluut lHt lOllONlDks FtQeTHIlOn LOT the
Support of Jewish Philanthropic Socie-
ties. $4,000; Montefiore Home and Hos
pital. $500 600: Jewish Theological Semi
nary of America. $50 900; Hebrew Union
College In Cincinnati. 100000 New York
University for the School Of Commerce
and Accounting. 5000; Henry Street
Settlement. $4,000.
Library Gets S2s,Oo0.
Solomon and Betty Loeb Memorial
Home. $3.50 Metropolitan Museum OF
Art s25.o0o; New York Public Library.
s25, 900: Geological Society of the City OF
New York. s25. 900; Harvard University,
So. 900: Jewish Orphan Asylum OF
Frankfort Main. Germany. $1,000. TO
be added TO the Moses and Clara Schiff
Fund. created many, years ago by Mr..
Schiff In memory Of his parents.
Charity ORGANIZATION of New York.
$1,000: New York Association for the
Blind. $4,000; Tuskegee Normal and In
dustrial Institute. 5000: Hampton Nor
NAL and Agricultural Institute. 5000;
the Babies Hospital OF New York City.
5000: tuberculosis Prcventorium for
Children at Farmingdale. ". j., 5000.
Mortimer l.. Schhf and his sister, Mrs.
Warburg. will share the bulk OF the
estate equally. He resides at 932 Fifth
avenue and at oyster Bay and Mrs.
warburg at 1l0s Fifth avenue. Mrs.
Schiff, the widow. resides In the Schiff
town house at 965 Fifth avenue.