ALTMAN, BENJAMIN

born July 12, 1840, New York, N.Y., U.S. died Oct. 7, 1913, New York American merchant, art collector, and philanthropist who established one of the world's great department stores, B. Altman & Co. Altman had little formal schooling, but at the age of 25 he opened his first dry-goods store in Manhattan and in 1906 moved it to the uptown section, pioneering the movement of business there. With additions in 191314, the store occupied the entire block bounded by Madison and Fifth avenues and 34th and 35th streets. Known for his organizing ability, Altman provided medical service, rest, and other benefits for his employees and set up a foundation for their welfare. The department-store chain Altman founded eventually numbered seven stores in New York and other cities. The chain closed in 1989. An astute art collector, Altman had extensive holdings of Chinese porcelains, crystals, rugs, and other objects of art. Among his paintings were 13 Rembrandts and canvases by Botticelli, Hans Holbein, and Filippo Lippi. The entire collection was bequeathed to the Metropolitan Museum of Art. Altman's estate included a substantial gift to the National Academy of Design to encourage American painting.