 1902 - 1996 (94 years)
-
| Name |
John Langeloth Loeb [1, 3, 4, 5, 6, 7] |
| Suffix |
Sr. |
| Born |
11 Nov 1902 |
Saint Louis, Saint Louis, MO  [4, 5, 8, 9, 10, 11, 12, 13] |
| Gender |
Male |
| Census |
21 Apr 1910 |
New York, New York (Manhattan), NY [14] |
| 1910 US |
| Census |
23 Jan 1920 |
New York, New York (Manhattan), NY [15] |
| 1920 US |
| Residence |
23 Jan 1920 |
New York, New York (Manhattan), NY |
| 41 West 85 Street |
| Arrival |
15 Sep 1920 |
New York, New York (Manhattan), NY [13] |
| S/S Olympic from Southampton, 8 Sep 1920 |
|
|
| Residence |
15 Sep 1920 |
New York, New York (Manhattan), NY [13] |
| 41 West 85 Street |
| Census |
14 Apr 1930 |
Harrison, Westchester, New York [16] |
| 1930 US |
| Reference Number |
65 |
| Died |
8 Dec 1996 |
New York, New York (Manhattan), NY [4, 17] |
| Person ID |
I65 |
aojd |
| Last Modified |
12 Apr 2012 |
-
| Notes |
- New York Times
John L. Loeb Sr. Dies at 94; Investor and Philanthropist
By ERIC PACE
Published: December 9, 1996
John Langeloth Loeb Sr., a leading member of the investment community who was long the head of the Wall Street firm of Loeb, Rhoades & Company, a predecessor of Shearson Lehman/American Express, died yesterday at his Upper East Side home in Manhattan. He was 94 and also had homes in Purchase, N.Y., and Lyford Cay, Nassau, the Bahamas.
Mr. Loeb died in his sleep about 6 A.M. and he had been going daily to his office in midtown Manhattan until about eight weeks ago, said his son John Langeloth Loeb Jr.
John Loeb Sr., a philanthropist who was active in political affairs as well as a pillar of Wall Street's Old Guard, was a founder with his father and two others of Carl M. Loeb & Company in 1931. That firm merged with Rhoades & Company in 1937 to form what became Loeb, Rhoades.
In 1984, after a succession of mergers in the intervening years, he was named an honorary chairman of the successor firm, Shearson Lehman/American Express, a subsidiary of the American Express Company.
Although he played no active role in Shearson, he continued to be involved for years in managing his family's investments and in numerous philanthropic activities, working regularly in his office in Manhattan.
At his death, he still controlled a boutique investment banking firm, the Loeb Partners Corporation. He was on the boards of Deltec, an investment banking firm, and of charitable and educational foundations. After his death, associates said his total contributions to cultural, educational and other nonprofit institutions over the years, including will bequests, totaled about $200 million.
His versatility and shrewdness, along with sizable amounts of capital, did much to nourish the success of Loeb, Rhoades. Among his talents, admirers said, was a fine sense of timing. He managed to complete the sale of Loeb, Rhoades's major holdings in Cuba, for example, the day before Fidel Castro came to power.
The tall, imposing, impeccably dressed Mr. Loeb was a partner in the firm from 1931 to 1955 and senior partner from 1955 to 1977. In the summer of 1977, having become chairman, Mr. Loeb resumed overall management responsibility at Loeb, Rhoades -- with the title of chief executive -- taking the place of Carl M. Mueller, who had succeeded him as the firm's top manager in 1973.
In 1978, Loeb, Rhoades merged with Hornblower, Weeks, Noyes & Trask to form Loeb Rhoades, Hornblower & Company, and Mr. Loeb became co-chairman of the combined firm's finance committee. In 1979, Loeb Rhoades, Hornblower, with severe back-office problems, merged with Shearson Hayden Stone to form Shearson Loeb Rhoades.
In 1981, Shearson Loeb Rhoades was acquired by the American Express Company, becoming Shearson/American Express. That firm in turn acquired Lehman Brothers, Kuhn Loeb, forming the American Express subsidiary, which no longer exists in that form.
Over the years, Loeb, Rhoades had remained to a considerable extent a family affair, with John Loeb's partners including his brother, Henry; his son, John Loeb Jr., and two nephews. Even in his 70's, Mr. Loeb remained the dominant personality inside the firm while exercising great influence on the outside as well. One widely quoted cartoon depicted him as telling his wife, ''No, I didn't have a hard time at the office, but everybody else at Loeb, Rhoades did.''
The upper reaches of the business world were Mr. Loeb's by birthright. He was born on Nov. 11, 1902, in St. Louis, the son of Carl Morris Loeb, an immigrant from Germany. Carl Loeb made a fortune early in life by gaining control of the American Metal Company and went on to become a co-founder with his son and two other partners of Loeb, Rhoades.
John Loeb's mother was the former Adeline Moses, an Alabama banker's daughter who traced her American lineage to pre-Revolutionary times. After briefly attending Dartmouth College, Mr. Loeb transferred to Harvard College and graduating from there in 1924. He worked for American Metal from 1924 to 1928, in its Pittsburgh and New York offices, and then was with Wertheim & Company in 1929 and 1930 before co-founding Loeb, Rhoades.
During part of World War II, from 1942 to 1944, he left Loeb, Rhoades to work for the Treasury and the Office of War Mobilization.
John Loeb's son and namesake was also interested in finance, and for a time John Loeb Sr. hoped John Loeb Jr. would also lead the firm. But the son's promotions generated controversy within the firm, and after serving as president from 1971 to 1973, he became a limited partner and then Ambassador to Denmark.
The elder John Loeb had a longstanding interest in politics. In 1964, he was an organizer of a blue-ribbon business group, the National Independent Committee for President Johnson and Senator Hubert H. Humphrey, who was Lyndon B. Johnson's running mate that year. In 1973, Mr. Loeb pleaded no contest in Federal court to three charges of having disguised campaign contributions to Senator Humphrey's 1972 Presidential primary campaign.
Pursuing their interest in public affairs, Mr. Loeb and his wife, the former Frances Lehman, entertained senators, mayors, governors and other political figures in their 14-room East Side home. They were also collectors of French Impressionist paintings, including canvases by Manet, Pissaro, Degas, Cezanne, and Renoir.
Mr. Loeb was long active, too, as a philanthropist. In one 15-year period, he gave about $5 million to Harvard, including the Frances L. Loeb Library, the Loeb Drama Center and a succession of annual Loeb fellowships. In 1981, he gave the university an additional $7.5 million.
Then, in 1955, he gave Harvard a gift estimated at $70.5 million, Joe Wrinn, a Harvard spokesman, said yesterday. Mr. Wrinn said that the gift was the largest Harvard had ever received from a living benefactor. Recipients of funds from the gift have included Harvard's Faculty of Arts and Sciences and School of Public Health. Harvard's president, Neil L. Rudenstine, said yesterday, ''John understood instinctively what the most important needs of a university were.''
Another major beneficiary of Mr. Loeb's largesse was New York University. After he gave $7 million to its Institute of Fine Arts, he declined an offer to rename the institute for him.
In his later years, Mr. Loeb became a friend of Mayor Teddy Kollek of Jerusalem and became deeply interested in Israel, where his philanthropic activities included the founding of a community center in East Jerusalem.
He was variously a director of Dome Petroleum, Allied Chemical, Seagram, General Instrument, Arlen Realty, the Empire Trust Company, the Rome Cable Company, the National Radiator Company and other companies; a governor of the New York Stock Exchange and a member of the advisory committee of the Bank of New York.
He was also the chairman and a trustee of the Institute of Fine Arts, a trustee of the Museum of Modern Art, chairman and chief executive of the Jacob and Valeria Langeloth Foundation, and a member of the Harvard Board of Overseers, the university's senior governing body.
He married Miss Lehman, the daughter of Arthur Lehman of the Lehman Brothers banking firm, in 1926. She was the granddaughter of Adolph Lewisohn, the banker and philanthropist, and niece of Herbert H. Lehman, who later became Governor of New York and a Senator.
Mrs. Loeb, New York City's Commissioner for the United Nations and the Consular Corps for 12 years in the 1960's and 70's, died last May.
In addition to his son, John Jr., of Purchase, Mr. Loeb is survived by another son, Arthur Lehman Loeb of Manhattan; three daughters, Ann Loeb Bronfman of Washington, who is Arthur's twin, Judith Loeb Chiara of Purchase and Deborah Loeb Brice of London; 14 grandchildren, including Edgar Bronfman Jr., the president of Seagram; a brother, Henry A., of Manhattan; and a sister, Margaret Loeb Kempner of Purchase, and numerous great-grandchildren.
http://www.hno.harvard.edu/gazette/1996/12.12/HarvardBenefact.html
HARVARD GAZETTE ARCHIVES December 12, 1996
Harvard Benefactor and Friend John Loeb Dies at 94
John Langeloth Loeb '24, LLD '71 (hon.), died on Sunday, Dec. 8, at age of 94. An investment banker and philanthropist, Loeb was one of Harvard's most loyal and active alumni.
"Harvard University has lost the friend of a lifetime," said President Neil L. Rudenstine. "John Loeb was a man who combined in rare measure deep humility and natural dignity. His achievements spanned our entire century and, to the very end, he was open to new ideas and experiences -- to new people and new reflections. He knew how to live, and he also understood how to bring life to a natural and harmonious close, with a constant grace and even solicitousness that touched all who were privileged to visit him in his final weeks."
Rudenstine continued: "John, together with his remarkable wife, Peter [Frances Lehman Loeb], believed, above all, in the power of education, and he will be remembered always for an unsurpassed generosity that gave strength and support in times of turmoil no less than in tranquillity. We have suffered a great loss, but how fortunate we have been to have lived, decade after decade, with his sustaining vision and his deep friendship."
Frances "Peter" Lehman Loeb, who actively shared her husband's devotion to furthering higher education, died on May 17 of this year.
Interest and involvement spanned the University
Loeb was deeply devoted to the University -- his interests spanned several of the Schools and he committed a significant portion of his long life to strengthening and preserving Harvard's academic reputation and quality.
An Overseer from 1962 to 1968, Loeb served on more than a dozen visiting committees. He later recalled, "Six of my most rewarding years were as Overseer." In addition to his participation in the governance of Harvard, Loeb was a fundraiser for many parts of the University. A member of the Committee on University Resources (COUR) since 1965, he was vice chair of The Program for Harvard College (1956-1960), general chair of the Graduate School of Design (GSD) Campaign (1965-1968), chair of To Finish A Job for Harvard (1971), executive committee member for The Harvard Campaign (1979-1984), honorary chair of the GSD Campaign (1984-1989), member of the COUR campaign executive committee, and honorary chair of The University Campaign, which officially began in 1994.
Over four decades Loeb funded many faculty positions, numerous scholarships for undergraduate and graduate students, and a variety of academic programs in different parts of Harvard, including the Faculty of Arts and Sciences (FAS), the GSD, and the Harvard School of Public Health (HSPH), among others.
Cited as a "paragon among alumni -- able, thoughtful, generous, devoted -- a credit to both country and college," John Loeb was awarded an honorary doctor of laws (LL.D.) degree in 1971. At Commencement 1985, he was presented the Harvard Alumni Association Medal, the only University-wide award honoring extraordinary service to Harvard.
Seventeen Quincy Street was renamed the John Langeloth and Frances Lehman Loeb House in 1994 in honor of the couple's longtime service and devotion to the University. The former home of Harvard presidents Lowell, Conant, and Pusey, it now houses the offices of the Harvard Corporation and the Board of Overseers.
As an alumnus of the College, Loeb was always particularly interested in the FAS.
Dean of the Faculty of Arts and Sciences Jeremy R. Knowles, commented: "John Loeb said that he and Peter 'wanted to make a difference not only to a great University, but to our country.' And they did. As alumnus, Overseer, and friend, John saw further than most, he knew better what was important, and his generosity so often made it happen. He wore his wisdom lightly, he offered his understanding gently, and he improved Harvard with unmatched munificence and grace. John Loeb was a wonderful friend and guide: of individuals, and of the institutions that he loved."
Notable among his many gifts to the FAS are an endowed scholarship fund created in 1951, which has provided financial aid to more than 400 undergraduates, and an endowment fund to support associate professorships, established in 1981, which currently funds 15 junior faculty positions designed to enhance Harvard's ability to attract the best young scholars. A gift from the Loebs made possible the creation of the Loeb Drama Center, which houses the American Repertory Theatre.
Also, the Loebs were involved with initiatives and programs at Harvard's other Schools. They established a professorship at Harvard Medical School, and made significant gifts to Harvard Business School. Long involved at the GSD, Loeb in the 1960s served as general chair of the School's first campaign.
Responding to the loss, Dean of the Faculty of Design Peter G. Rowe said: "Without question, John Loeb, along with his late wife, Frances, was the School's most extraordinary benefactor. Their generous contributions have gone a long way toward securing the GSD's academic prominence well into the future. The Frances Loeb Library and the Loeb Fellowship Program are two significant components of the Design School's intellectual life; John's leadership and support over more than 30 years will enable both to continue to serve the ever-expanding needs of students and scholars of the design disciplines. John Loeb was above all a person who cared to make the world better."
William A. Doebele, curator of the Loeb Fellowship for 27 years, added: "John Loeb had a lifelong concern with the quality of the American environment. He endowed a unique fellowship program at the GSD and then took a personal interest in the careers of the Fellows. The Fellowship stands as a permanent and living memorial to his generosity and commitment to the GSD and to the nation."
Loeb's strong personal interest in health and nutrition focused his attention on the School of Public Health, where he served on the visiting committee from 1949 to 1954.
"The School of Public Health benefited immeasurably from John Loeb's contributions as an adviser and friend over the past half century," said Dean of the School of Public Health Harvey V. Fineberg. "His wise counsel, broad vision, and generous philanthropy were deeply appreciated by several deans and faculty members, and the School is today a stronger institution for his involvement. We deeply regret the death of an individual who so flawlessly embodied the virtues of leadership, beneficence, and friendship."
Generosity to Harvard
Frequent contributors to many cultural, medical, and educational institutions, the Loebs in 1994 decided to set aside a substantial portion of their estate in the form of a deferred gift to Harvard.
Their commitment, the largest Harvard has ever received from a living donor and, at that time, one of the 10 largest private gifts ever made to American higher education, was then estimated to have a present value of $70.5 million.
More than half of the deferred gift is designated for the FAS to provide financial aid for undergraduates, endow six Harvard College Professorships, and further underpin the endowment for associate professorships.
The GSD is to receive support for modernizing of the Frances Loeb Library and funding activities of the Loeb Fellowship Program for Advanced Environmental Studies. With its part of the gift, the School of Public Health will be able to add professorships and associate professorships.
Portions of the 1994 gift were also designated for undergraduate activities at the Loeb Drama Center and to establish a humanist chaplaincy at the Memorial Church.
"The Loebs' gift is extraordinary and of course we appreciate their generosity," said William H. Boardman Jr., director of capital giving. "But we loved John and Peter because they were warm, wonderful, intelligent people, full of curiosity and enthusiasm. I will always cherish their memory."
Banker, philanthropist
John Loeb was born in 1902 in St. Louis, Mo. In 1924, he earned his bachelor of science degree cum laude from Harvard and later, with his father, founded the New York banking and brokerage firm Carl M. Loeb and Company in 1931. The firm was subsequently known as Loeb, Rhoades and Company, and from 1955 to 1977 John Loeb served as its senior partner. He was widely regarded as a leader in the investment community.
For decades, the Loebs were a force in New York City. They were active in many charitable enterprises, served on the boards of schools, museums, and hospitals, and were also engaged in public affairs. The couple had a lifelong interest in the arts and were avid collectors of French Impressionist paintings.
John and Peter Loeb had two sons, John L. Loeb Jr. '52, MBA '54, and Arthur L. Loeb '54, AM '57, and three daughters, Judith Loeb Chiara, Ann Loeb Bronfman, and Deborah Loeb Brice.
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-
| Sources |
- [S303] .
- [S285] .
- [S13] 4 JANUARY 1955 OBITUARY OF CARL M LOEB (Reliability: 3).
- [S289] DESCENDANTS OF JED LOW (Reliability: 3).
- [S4] PG. 211 MOSES III (2) (Reliability: 3).
- [S282] CHART 4 (Reliability: 3).
- [S13] BRONFMAN, ANN L.: 10 APRIL 2011 (Reliability: 3).
- [S3] SECTION III CH 11 PG 22 (Reliability: 3).
- [S9] YEAR: 1910; CENSUS PLACE: ST LOUIS WARD 23, ST LOUIS (INDEPENDENT CITY), MISSOURI; ROLL: T624_821; PAGE: 13A; ENUMERATION DISTRICT: 360; IMAGE: 1190 (Reliability: 3).
Lived with Adeline Nathan. Also at this address in St. Louis, 1910 was sister Grace and brother Mordechai. Listed in census as "Boarders"
- [S298] BURIAL NOTICE (Reliability: 3).
Moses, Raxanna C. *2/10 p20
- [S80] YEAR: 1920;CENSUS PLACE: ST LOUIS WARD 23, ST LOUIS (INDEPENDENT CITY), MISSOURI; ROLL: T625_959; PAGE: 4A; ENUMERATION DISTRICT: 451; IMAGE: 847. (Reliability: 3).
Rosanna Moses Home in 1920: St Louis Ward 23, St Louis (Independent City), Missouri Age: 80 years Estimated birth year: abt 1840 Birthplace: South Carolina Relation to Head of House: Sister Father's Birth Place: South Carolina Mother's Birth Place: South Carolina Marital Status: Single Race: White Sex: Female Able to read: Yes Able to Write: Yes Image: 847 Neighbors: View others on page Household Members:
Name Age Grace Moses 67 Rosanna Moses 80 Max Mainzer 45 Sarah M Fawley 47
- [S288] 11 NOV 1902 - JOHN LOEB (Reliability: 3).
- [S290] YEAR: 1920; MICROFILM SERIAL: T715; MICROFILM ROLL: T715_2834; LINE: 19; . (Reliability: 3).
- [S9] YEAR: 1910; CENSUS PLACE: MANHATTAN WARD 22, NEW YORK, NEW YORK; ROLL: T624_1045; PAGE: 11A; ENUMERATION DISTRICT: 1291; IMAGE: 791. (Reliability: 3).
- [S80] YEAR: 1920;CENSUS PLACE: MANHATTAN ASSEMBLY DISTRICT 9, NEW YORK, NEW YORK; ROLL: T625_1201; PAGE: 1B; ENUMERATION DISTRICT: 665; IMAGE: 116. (Reliability: 3).
- [S14] YEAR: 1930; CENSUS PLACE: HARRISON, WESTCHESTER, NEW YORK; ROLL: 1660; PAGE: 5B; ENUMERATION DISTRICT: 161; IMAGE: 790.0; FHL MICROFILM: 2341394. (Reliability: 3).
- [S2] PG. 7 (Reliability: 3).
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