Albert C. Stebbins

Albert C. Stebbins was born in Massachusetts on September 19, 1845, and he came to Plainfield in 1887, and located the site for the Pond Machine Tool Company.  He was vice-president of the Niles-Bement-Pond Company which was a division of Pond Machine Tool Company.  He was also vice-president of the Plainfield Savings Bank for fifteen years.  He was interested in civic affairs, and served two years on the City Common Council.  He died February 28, 1917, and is buried in a Plainfield area cemetery.

Mr. Stebbins left the bulk of his estate to Muhlenberg Hospital.  In the Eighth Paragraph:  "All the rest residue and remainder of my estate..., I give, devise, and bequeath to Muhlenberg Hospital, ..., to be held forever as a permanent endowment fund to be invested and kept safely and securely invested by it, the net income only to be used by it as it may see fit, in carrying on its work."

As reported in the Sixty-Ninth Annual Report for the year ending December 31, 1946, of Muhlenberg Hospital, on the inside back cover, the Albert C. Stebbins bequest was the largest gift yet received, total amount as reported was $226,000. 

Almost 30 years after the receipt of this Stebbins permanent endowment fund it was still being talked about in writing and was being used as an example to encourage others to leave bequests through wills.

Questions:  What happened to the money appropriated for the Stebbins' permanent 

                    endowment?

                    What is by law the remedy for the loss of this funded endowment to the 

                     Plainfield community?