Raftsman's journal. [volume] (Clearfield, Pa.) 1854-1948, 1865-07-26
Trinity Church, New York,

The history of the real estate transactions
of the Trinity Church corporation, says
New York journal, would make an interest
ing and readable volume, extending from
the days of King William the Third and
Queen Anne to the present day. The land
owned by Trinity was in the time of VIII
liam known as the King Farm, and the en-
dowment was made for the purpose of pro-
yiding for the Church of England in New
York. The estate originally consisted Of
two thousand and sixty-eight lots, of which,
since the year l74S, three hundred and
eighteen lots have been given away, six
hundred and ninety-nine remain, and one
thousand and fifty-nine have been sold.
The six hundred and ninety-one lots now
owned by Trinity, which are all occupied by
various buildings, are located in Barclay
street, Broadway, Barrow street, Broome
street, Clarkson street, Charlton street,
Clark street, Chambers street, Canal street,
Desbrosses street, Dominick street, Fulton
street, Greenwich street, Hamersley street,
Harrison, street King street. Morton street,
Murray street, Renwick street, Reade street,
Spring street, Sullivan street, Varick street,
Vestry street, Vesey street, Vandam street,
Watts street, Washington street, and War
ren street. Nearly all the leases OF the lots
IN these streets, which were made before the
Revolution, will expire in a few years, and
revert back to the corporation. 1t is esti-
mated that the property of Trinity will then
be worth more than twenty-five millions of
dollars. 1t cannot be said to be badly strick-
en- with poverty if this valuation approx
mates near the truth. But the corporation
has on several occasions found it hard to
make both ends meet at the end of year.
According to the testimony OF General Dix,
Ex-Governor Bradish, r. B. Minturn, and
others, her expenditures exceeded her in
come at various times by from nine thousand
two hundred and twenty-six dollars and
ninety four cents to fifty-one thousand three
hundred and sixty-eight dollars and forty
SIX cents. At one time it was proposed that
the property be so disposed off as to pro-
vide for the various Episcopal churches of
the city which might be in need; but the
bill. after passage In the Senate, met with
negative at the hands of the Assembly,
and the matter was dropped Notwith-
standing the miles of real estate under the
control OF the corporation, the church is
SAID to be poor; and, in support of the fact
1T Is stated that bills for ringing the bells of
Trinity on national festivals have been pre-
sented to the Common Council, and that
part of the old graveyard in Hudson street,
between Clarkson and Leroy streets belong
ing to Trinity. is to be sold
Mr. Astor's lease, obtained in 1867, ex-
pires on the lst of May, 1866, and the prop
erty will go back to Trinity. He had three
hundred and sixty-six lots at the low price
of seventy-fve cents each. The lots are sit
uated in Charlton street, King street, Hud-
SON street, Vandam street, Hamersley street,
Varick street, Greenwich street, and Spring
street. Mr.. Astor pays Trinity church two
hundred and siXty-nine dollars per annum
for all the lots, being seventy-fve cents for
each. If we estimate the rental from each
building on these lots. at the low average of
five hundred dollars, the fortunate lease
holder must receive, on an invested capital
of two hundred and sixty-nine dollars. an
income of one hundred and sixty eight
thousand dollars per annum. Some of the
buildings, however, are let at higher rates
At least, Mr.. Astor is no loser by the con-
tract.