The Birmingham age-herald., 1920-09-26
GREAT BANKER AND
 PH|[ANTHROP|ST IS
 DEAD IN NEW YORK
Jacob H. Schiff, Financial Wizard and AItruist, Called By Death In His
 73d Year
By Associated Press

--cS~~-~'~N
 New Yorn, september -o.-Jacob H. Schiff, widely known banker and philan- thropist, died at his home here tonight
 MT. Schiffs death was due to arteric sclerosis He was stricke nsix months ago. members of the family said, but had not suffered to any extent until August, when he was compelled to return home from sojourn in the White mountains. His condition gradually became worse and he was confined to his home ten days ago.
 MT. Schiffs wife, his son, Martimer L. Schiff, and his daughter, Mrs. Felix Warburg, were called to his bedside this of recovery.
 Two brothers, Philip and Ludwig Schiff, merchants of Frankfort-o Main, Germany, also survive him.
 The name of Jacob H. Schiff has been associated with the financial history of New York and of this country for quarter of a century. At intervals in that time MT. Schiff took an active part in the financial development of some of the leading railroads and utility cor porations in the United States.
 Backed by foreign capital, MT. Schiff and the firm of Kuhn, Loeb and Com pany, supported the late E. H. Hartman in the great financial adventure by which the Union Pacific Railroad was reorganized in 1897 and in the subsequent transactions by which the Union Pacific obtained control of the Southern Pacific and other railroads.
 This operation is regarded as one of the most important in which MT. Schiff engaged as banker. It involved vast sum of money, possibly hundreds of n1il- lions of dollars, gave MT. Schiff pres tige among New York banking houses which endured for the remainder of |. fv-sh hut fo6 n H. Hartman the best known railroad or- ganizer in the United States
 Another important enterprise which Mr. Schiff undertook as head of his firm was the placing in this country Of a large Japanese loan when Japan went to war with Russia. Some years later MT. Schiff expressed regret that he had been instrumental in providing funds which helped to place Japan among the leading nations of the world as a mili- tary power.
 Born at Frankfort, Germany, January 10. 1S47, Mr. Schiff was educated in Ger many and when eighteen years old re- moved to New York where he entered upon his business career, beginning as a bank clerk few years afterward he became a member of firm of bank CTS and brokers In 1875 MT. Schiff mar ried Theresa, daughter of Solomon Loeb and became a member of the firm or Kuhn, Loeb and Company, of which his afather-in-law was then senior partner. When MT. Loeb retired ten years later, MT. Schiff became head of the firm and has since occupied that position. After this successful share in the financing or the Union Pacific reorganization, MT. Schiff became one Of the most Wioey known and influential bankers of New York. He has been director Of several of the leading banks, trust. life insur- ance. railroad and utility companies' In cluding the Union Pacific Railroad and the Western Union Telegraph Company. His firm acted as fiscal agents for some of the leading corporations in the United States.
 For more than score of years MT. Schiff was prominent in various forms of charity and philanthropy. He was vice president of the Baron de Hirscn fund. founder and president of the Mon tefiore Home for Chronic Invalids, one of the founders of Barnard College and contributed literally to almost every Jewish movement or charitable institu- ton and to many non-sectarian ones Tn New York. He gave generously 10 en- courage the study of Hebrew literature, founded the Semitic Museum at Harvard and the Jewish Theological Seminary of New York.
 William McAdoo, then Secretary of the Treasury, in a tribute to MT. Schiff on the occasion of his seventieth birthday described him as "a rare combination or fnanciar and altruist."
 MT. Schiff had one son. Mortimer L. Schff, also a member of the firm Of which his father was the head. and one daughter, Mrs. Felix Warburg, wife of another member of that firm. He had home on Fifth avenue New York. and a country home at Sebright. New Jer- Sey.