Horkheimer moved to secure his own funding as the Institute’s endowment shrank.

Evidence

When the endowment capital began to shrink, from the late 1930s onwards, Horkheimer’s main concern became to reserve a large enough part of the assets early enough to secure his own scholarly work on a long-term basis. Accordingly, Lowenthalin his capacity as one of the trustees of the `foundations’ among which the funds were distributedwas one day asked to transfer $50,000 to a fund with Horkheimer as its sole beneficiary. Lowenthal had reservations about this on formal grounds, and suggested instead repeating a bank transfer procedure which had been used before. — Rolf Wiggershaus, The Frankfurt School, 1086

Categorization

• XREF: connects to: Horkheimer prioritized his own scholarly work over the Institute’s common resources as endowment shrank — Rolf Wiggershaus, The Frankfurt School: Its History,…, 1086; Horkheimer’s private wealth funded the Institute through a lifelong annuity — Rolf Wiggershaus, The Frankfurt School: Its History,…, 445; Benjamin’s institute stipend fell below subsistence, forcing reliance on private patrons — Rolf Wiggershaus, The Frankfurt School: Its History,…, 776