As beneficiaries of the will of Augustus Gardiner Cobb, of New York City, the President and Fellows of Harvard College will soon receive approximately $700,000, for use in the Law School, it was exclusively learned by the CRIMSON Saturday from the Treasurer's office.

Augustus Cobb, a New York lawyer, graduated from the Law School in 1872, and when he died in 1930, he left his entire estate in trust for the benefit of his brother, Edward Benedict Cobb. The brother, as life tenant of the estate, had the benefit of it until his death, which occurred last Thanksgiving Day, and the Augustus Cobb estate was then divided into two parts, one going to six New York charities, and the other to Harvard.

The $700,000 was left to "establish a fund in aid of the Harvard Law School," and this fund is to be known as the "Emory Washburn Memorial Fund, endowed by a member of the Class of 1872." Only the income may be used, but there are no other restrictions as to use of the money by the Law School. Although it is not known how the bequest will be invested, it would seem to be a safe prediction that the income will amount to at least $20,000 a year and probably more.

The clause in Mr. Cobb's will establishing the Fund, referred to Professor Washburn as a "learned and greatly beloved professor, who rendered eminent services to the School by long years of devotion to its interests. By his method of instruction, noble character and ever-friendly encouragement, he was an inspiration to his students to a remarkable degree, and, though half a century and more has passed since then, yet his memory is still treasured in a affection by those once members of his classes who still survive him."

Brother to Yale

Mr. Cobb, and his brother Edward Benedict Cobb, who was also a New York attorney for a time, both inherited large sums from their father. Benedict Cobb was a graduate of Yale in 1872, and his will, made public last month, revealed a long infra-family rivalry, for Benedict Cobb left nearly $1,800,00 to the New Haven institution.

A national weekly magazine, reporting Benedict's bequest, referred to him as a "typical, obscure, sentimental old grad," and declared that he had become bored with the practice of law at 38 and retired soon afterwards. He lived on until his death at the age of 89, leading an essentially quiet life, dividing his time, according to the four seasons of the year, between Pittsfield. Boston, Washington, and an annual trip abroad, together with occasional journeys to see the Yale teams perform.

Even less is known about Augustus Cobb, except that the practice of law attracted him considerably longer than it did his brother. Neither brother "made" Who's Who, and Augustus was not considered prominent in Alumni affairs.

With Dean James M. Land is of the Law School in Washington, other Law faculty members were reluctant to comment on the possible uses of the income of the new Washburn Fund, but possibilities suggested included the maintenance of the library, additional scholarships for needy students, or the endowment of a new Faculty chair.

Since the $700,000 has not yet been received by the Treasurer and probably will not be for about a month, the bequest has not been formally reported to the Corporation for their approval, but the action of the Corporation is regarded as a pure formality in a bequest of this type.