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SCHIFF, Jacob Henry (1847-1920)

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SCHIFF, Jacob Henry (1847-1920). German-American, banker and philanthropist, b. Frankfurt am Main, Germany. To U.S. (1865, naturalized 1870); partner in Kuhn, Loeb & Co. (from 1875) and head of firm (1885-1920). Associated with E. H. Harriman against J.J. Hill and J.P. Morgan & Co. in struggle for control of Northern Pacific Railroad, bringing on stock market panic of May 9, 1901; active in floating Japanese bonds in U.S. during Russo-Japanese War (1904) and in marketing Chinese loan (1911). Recipients of his philanthropies included the Montefiore Hospital; Henry Street Settlement; Columbia U.; Harvard U., where he established a Semitic Museum; Cornell, where he founded a chair for study of German culture; Tuskegee Institute; Jewish Theological Seminary in New York; the American Red Cross.

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