Donor Loeb Is Dead At 94

John L. Loeb '24, who last year donated $70.5 million to the University, the largest gift ever from a living benefactor, died yesterday. He was 94.

"Harvard University has lost the friend of a lifetime," President Neil L. Rudenstine said in a statement. "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."

Dean of the Faculty Jeremy R. Knowles commended Loeb's commitment to making a great institution and a great country.

"As alumnus, Overseer and friend, John saw further than most, he knew better what was important, and his generosity so often made it happen," Knowles said in a statement. "He wore his wisdom lightly, he offered his understanding gently and he improved Harvard with unmatched magnificence and grace."

Loeb has dedicated a lifetime of service to the University.

Loeb served on the Overseers Committee from 1962 to 1968, in addition to serving on more than a dozen visiting committees. He has been involved in leading more than six capital campaigns.

Loeb has also funded numerous faculty positions, scholarships for undergraduate and graduate students and a number of academic programs. The Loeb scholarship endowment has funded more than 400 undergraduate scholarships since 1951, and Loeb Associate Professorships funds positions for 15 junior faculty members.

In 1971, Loeb was awarded an honorary degree by Harvard. In 1985, he received the Harvard Alumni Association Medal, the only University-wide award, honoring his extraordinary service to Harvard.

After his $70.5 million gift, given jointly with his wife, Frances Lehman Loeb, the University renamed 17 Quincy St.--the official home of University presidents from 1913 to 1971 and the present office of the University's governing boards--the Loeb House.

Mrs. Loeb died in May.

Loeb's gift, one of the 10 largest in the history of higher education, was distributed across five different parts of the University.

More than half went to the Faculty of Arts and Sciences, but Loeb also gave $17.2 million to the Graduate School of Design, $11.8 million to the School of Public Health, $1.5 million to the Loeb Drama Center and $800,000 to Memorial Church.

An investment banker and a philanthropist, Loeb founded Carl M. Loeb and Company with his father. He was senior partner of the company, which was renamed Loeb, Rhoades and Company, from 1955 to 1977.

He is survived by five children: John L. Loeb Jr. '52, Arthur L. Loeb '54, Judith Loeb Chiara, Ann Loeb Bronsman and Deborah Loeb Brice.

A memorial service will be held in New York city next month

After his $70.5 million gift, given jointly with his wife, Frances Lehman Loeb, the University renamed 17 Quincy St.--the official home of University presidents from 1913 to 1971 and the present office of the University's governing boards--the Loeb House.

Mrs. Loeb died in May.

Loeb's gift, one of the 10 largest in the history of higher education, was distributed across five different parts of the University.

More than half went to the Faculty of Arts and Sciences, but Loeb also gave $17.2 million to the Graduate School of Design, $11.8 million to the School of Public Health, $1.5 million to the Loeb Drama Center and $800,000 to Memorial Church.

An investment banker and a philanthropist, Loeb founded Carl M. Loeb and Company with his father. He was senior partner of the company, which was renamed Loeb, Rhoades and Company, from 1955 to 1977.

He is survived by five children: John L. Loeb Jr. '52, Arthur L. Loeb '54, Judith Loeb Chiara, Ann Loeb Bronsman and Deborah Loeb Brice.

A memorial service will be held in New York city next month