The daily gazette., 1875-03-17

men had to take up the floor of the sub
ceiiar IN the present building and dig a
hole until they came to the original soil.
They went down few feet further and
a stream OF water bubbled up. The de-
scendants Of the shareholders thought
this strange, and on inquiry they learn
ed that the coffee house had originally
stood at the rivers edge. This fact was
doubted until Mr.. De Peyster conversed
with a carpenter who had helped to
build u staircase on the wharf near the
coffee house for Washington to land af-
ter his Inauguration.
The number of the nominees was orig
lnally ZO3. the same as the number Of
shares, but in 1889 they had been
Trimmed BY DEATH
to ninety Mr.. De Peysrer. who
was Master in Chancery at that time.
made an estimate that it would take un
I'll 1874 to reduce the number of lives to
seven. He based his estimates on STU
dies into the longevity OF the nominees
| ancestors, most OF whom he found to
have lived to ripe old age. An expert
ip the settlement of life annuities said
| that 1T would take until 1872 to bring
the nominees down to seven. In 1855
there were fifty-fve of the nominees.
which the compilers of annuity tables
regarded as a remarkable thing of lon
gevlty. On the 1st of January, 1870. the
survivors numbered only eight, most of
them being octogenarians. There were
none OF the original shareholders alive.
They left their shares to their heirs or
to their executors to be sold.
Horatio Gates Stevens, one of the
eight nominees, died in 1870, in his 9th
year. The share on his life was origi
nally bought by George Blight, mariner
His demise left the number of the nomi-
nees at seven, and suit was begun in
the Supreme Court for the partition of
the Tontine property in accordance with
the plan of the founders OF the associa-
tion. The suit is still pending, and it
cannot he settled for some tirae, as heirs
OF the original shareholders who bet on
the seven survivors are constantly COM
ing to claim an interest in the estate.
The principals in these suits already
number thirty seven.
Mr.. Bayard died on Friday at the age
Of 81. The share ON his life has history
1t was sold by his father with the share
on his sister life to Col. de Peyster, who
afterward disposed of them, with other
shares to Mr.. Lawrence. The latter
sold them by auction, and the Bayard
shares are now held by w. r. Horne, a
wealthy retired merchant. Mr.. Bayard
belonged to the fifth generation OF Bay
aids born in this city. The Bayard farm,
from which Bayard street is named, was
owned by his great great grandfather,
and was divivided into small lots as
property rose in value. One of his sis
ters was the wife OF the patron of Rens
salaer county. She is still living.
The death of Mr.. Bayard leaves.
ONLY SIX NOMINEES.
These are all very old men and women.
Some OF them have had eventful lives.
The Oldest is Governor Kemble, W h@ is
living at Cold Spring. He is in his Tooth
year. The surviving nominees are:
Original Age Jan. l. 1915
Shareholders. Nominees. rM.D
Richard Varich Robert Benson .ss o q
Robt Il. Kemble ..Governeur Kemble 80 IL
John ID. Wint........John Z. Dewint. ST
Maria Bayard, widl
VIM. Bayard, sr. ow of Duncan p.
corns,,u. Paw N.rS Campbell; M ,i;,o 50 10 20
}of A. King }ss sl5
Martin Hoffman David Murray Hon.
The Tontine property is worth about
81 ,000,0 900, making each Of the seven
shares worth nearly S150,000. Ten years
ago the property could have been sold
for 81, SOC, ,000 The persons who hold the
seven lucky shares are John A. Kings
heirs, one share; F. de Peyster, one share;
w. II. Horne, one share; DIR. Varick, one
share; George Bright, one share. Z. t.
Lynch and wife one share