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Harvard will receive a share of the multi-million dollar estate of Thomas S.Lamont '21, who died last Monday, but no one here knows exactly how much.
Six educational institutions were among the beneficiaries named in Lamont's will. Together, they will share a quarter of his estate, but, since the terms of the bequest have not yet been sent to Harvard, it is not known what proportion of this money will go to the University.
Lamont, vice-chairman of the Morgan Guarantee Trust Company and a Fellow of the Harvard Corporation, wrote in his will that there is an "ever more impelling need for continuous improvement in the standards of American schools and colleges" for which corporations often provide too little financial support.
He explained the bequests to private schools, writing that "those educational institutions whose leaders and governing boards administer their affairs with maximum independence of all political considerations have, generally speaking, led in the setting of high standards and in initiating educational change and experiment."
More than a Million
Lamont's will was filed for probate in Manhattan Surrogate's Court last Friday with a petition classifying the value of the state at over one million dollars. No precise information about the estate's worth was given.
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