The New York herald., 1870-04-24

associated capitalists for life annuities, with the
benefit OF survvorship. There Is, however. o dis
tincti0n between tue present plan aud the OF
l0ntL HIS intent was the establishment of a COM
pany who should each Contribute like amount OF
capital 20 be loaned to responsible party ct a
ceran a,,n ,as ~, os nseress which was TO be divided
wnere there was diversity OF age the elder re
ceived more and tne younger less. But IN the PLAZA
OF ths lotlhe Association Tie owners OF the seven
surviving Shares upon like NUMBER or lives, take
the whoie property IN equal proportion 70 theif
surviving nominees and as In TINS case 1876 OF the
pondlng interests upOn their selection py oiIerent
SUBSCRIBERS the remaining shares are now respec'
lively represented by and depending upon eight
lives.
FAREWELL TO COFFEE.
The constitution bears date 4th OF June, 1874, but
the nominations by the subscribers were not wholly
completed until March, 1885, Toe association IN
their preamble named the building the lontne Cohee
used as q coffee house; but on the opening OF the
Exchange little higher up IN wall street, tue In
terests OF the shareholders demanding q change IN
this special appropriation, they applied TO the Court
OF Chancory Tor permission 10 let the premises Tor
general purposes ana ny us decree or 1854 the re-
strictiOns were removed.
Subsequently doubts having arisen respecting the
validity OF the trusts under which the trustees
and held the property III consequence or the revised
statutes the subject the Legislature l843 passed
an act confirming the same and altered the name to
the 1ontine Building and directed mat the manage
ment OF affairs OF the concern be by ''the com
mItee OF the T0ntine Building" who receive besides
their other duties the income OF the establishments
and divide the net proceeds on the second Tu esday
In each month oil May among the owners OF the
shares depending on the nominees alive on the pre-
v0us first day OF the same month.
KNICKERB0CKER LONGEVITY.
This association on the 4th OF June next, II on o
OF the nominees does not expire in the meantime 4,
will have existed seventy six years.
In examining the statistics In reference to the sue
cessve dimlnution OF shares by death the
fact IL disclosed that the lapse OF shares from year
year Is In proportion, with slight variation to
relative number OF both males aud females In 1883
nfty-one OF the nominees were still living-a TACT
which, considering the lapse OF time from The esta
lshment OF the society, was admitted by cOmpiierS
OF annuity tables To be very unusual II unprece-
dented. But should be recollected that the nomi-
nees originally selected children OF parents in
easy circumstances and tnat these not In gen.
erai subjected TO The exposure and privations met
dent TO tne masses The average OF whose ves forms
the basis OF the usual calculations on this subject
FROM YOUTH TO AGE.
AT the date OF the constitution in 1894 the Oldest OF
the nominees was Gilbert Saitonstall OF the city OF
New York, merchant, who took one share ana rlskc
his interest IN his own life at the age OF forty1ve.
the youngest OF the nominees was David Augustus
Clarkson son OF Thomas Streatneld GARRISON mer-
chant, OF New York.
STARTLING PREDICTION
calculation made by Mr.. DE Peyster in 1889 OF
the probable existence OF nlnety-three nominees
then in being based upon the different tabular pre-
cedents recognized here ana III England authori-
tative, led him TO the conclusion that this number
would in or about 1874 be reduced to seven. This
prediction would seem to be IN fair way OF reaza-
ton.
THE oLDEN GOLDEN AGE.
There are few whose age links them to the olden
time when the Tontine COnee House was the CHIEF
centre OF the commercial interests who cannot re-
call scenes WITHIN its walls "the like whereof we
meier shall see again. public meeting convened
within its walls sent forth decision when was
almost universally respected. AS single instance
OF this forty years back, when the habit OF distrl0u
ting expensive scarls TO bearers and Others at or.
dinary funerals was so prevalent tnat many poor
iamiies were sorely plnched to provide this
necessary mark OF respect for q departed relative
some benevolent individuals, seeing the evll infu
ence OF such fashion, called meeting at the Cote
House, when nearly TWO hundred or those who's Q
weight OF character gave force to their decision
signed pledge to abstain from the custom OF dis
triOutlng scarfs except to the attendant ministers
and physicians This was the deatnknell OF the op.
pressye fashlon. In matters OF moro vital moment
when great pubic interests were az stake, Q voice
has gone out from the said Coffee House which, ike
an echo In after years from Castle Garden has been
heard throughout tho length and breadth OF the
land. Some OF me nobest charities or the world
received !helr st contributions beneath its hal.
I'VE sIka. SAT- THEY'RE GONE"
The social li4e or rhe Old coffee room was some
Sr SSn noSdon n0 coss rns
galants OF tue period resorted there and talked OF
or S'I eoSes Of SHERRY Men now vna
with an enthusiastic feellng OF recollection
the EsKy that Drswed
mans palate nowadays. Those who delight
IN revernng to this especial feature Of tns
round scores OF years 10 show, to back up the
hearty praise OF these mellOw-navOred punches o1
the Olden Time, Lnat 0lu noD0Qy any narm ana never
raised row. II was day OF great excitement OF
the sanded floor OF the TOntlne, seventy odd year.
ago. when news was brought up from the lower BAL
tnat an English and French frigate were engaged II
bloody conflict or Sandy HOOK. Many ferven
prayer went up That the Galic frgate would win th
hight and beat the Brtsher badly. or course betting
was big among the sporting men OF the time, and
many tanxard OF nutbrown ale disappeared In the
excitement OF the hour
BErrfn THAN MUSTY BEER.
The subscribers cJho originated the scheme and
their companl09sf those Gays left to their success
HOuse-a name pr integrity and, probably, an ex-
ample OF industry llberality and promise-keeping-
which cannot be Too highly valued nor too warmly
commended.
WHERE THE ToNTINE TRHAsURRRs WILL GO.
Those who are expected to secure the greater
part OF the properly wnen the division comes are
Mr.. Frederick DE Peyster and Mr.. William II. Aspin
wall. Shares were bought by these gentlemen from
time to time from those OF the association who cared
to dispose OF them, and the result Is large accunu
latiOn, more especially In the hands OF MIR. DO Pey
ster. The lot owned by the society Is worLf
$3.50, 900. II the lease OF the nne aud expensive
building does not expire before the society becomes
deiunct OF course tne present Tontine block falls II
the properly OF the association. The interest II
this regard Is OF quite an exciting Kind. The mem
bers wonderfully tenacious OF lie and seem bent
on holding fast to that which they have sIle whlt
longer. Mr.. HOratlO q. Stevens who has passed thu
age OF ntnetythre though not in the enjoyment o
Oil his mental faculties preserves his physical healtt
wonderfully well. May they all live long and di'
happy.