Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1876-04-19
NJ. Stewards Wealth.


NEW York, April 10.-Enough
data was secured to-day to show
that the popular estimates OF Mn
Stewards wealth, as in the case OF
all very rich men, are greatly exag-
cerated. Many persons will be slow
70 accept the statement that his
property, personal, and real estate,
viii not exceed thirty millions, and
vet the best information will justify
no highe.. figures On an assess
ment rell in the tax office, among
the real estate held by Mr.. Stewart
appears the following:
wholesale store, Broadway and
Chamber streets. ...-S SoV'VVo
Metropolitan Hotel NOVU
Retail store, Broadway and Tenth Streets ,o1oooo
Residence, Ihirty-iourth street and 1000,
Fifth avenue 81 y go
Norkiig-Girls >-'~~s|. S'o'"oo
The above figures, of course rep
reseat the assessed value OF the prop
erty mentioned.
La addition, MI. Stewart owned
considerable real estate leased to
tenants. who paid the taxes and con-
seouently did not appear on the tax
record n his name, but this is estima-
ted at not more than S55O,OOO. The
assessed value of all Mr.. Stewards
zeal estate foots up little over s.,
100000, upon which he paid q tax
last year of SlSo,O0O. Property in
this city is supposed to be assessed
at two-thirds of it's market value,
which would make Mr.. Stewards
real estate worth about $4,000, 900.
An official, who is perhaps the best
sskwmed person as to the assessed
values of real estate in the city, and
who is personally acquainted with
many of Mr.. Stewards purchases,
gives it as his opinion that, after the
estate is settled up, there will not be
more than S25,OOO,0OO free of all
debts and membranes. The Gar
den City property, near Hampstead,
L. l., he said, was probably worth
100000 The Grand Union Hotel
and appearances at Saraoga was
worth another million, ard the Glen
ham carpet works and factories, near
Fishkil, on the Hudson river, an adj
,Etional million. Assuming the
amount invested in New York city
real estate to be $S,O00,000, which
de thought was the outside limit, the
total sum in these enterprises would
be sll, o0n,0o0, This apportionment
would leave fourteen millions to be
Mvested in his business in every de-
partment, including Western Mills
factories and property in other States
used in the manufacture of his goods,
with an ample margin for invest
ments in United States bonds and
city stocks. II would not take the
contract he said, "to settle up Mr..
Stewards estate within the next tive
years for all l could realize out of it
above s25 100000. The chances
would be all against my making even
u clerks salary for my troubl." Mr..
Stewart invariably paid the whole of
the purchase mosey for his real estate
an cash, never giving mortgage,
but insisting on clearing off every
incumbrance. He was adverse to
selling any of his real estate,but all
ways held on. 1t is said tibet in later
years he has frequently forgotten
the fact of his ownership of certain
small pieces ef property, valued at
$4,000, or $4,000 each, and it was
only with difficulty that he could be
snade to recall the purchases. His
business acquaintance say that his
real estate purchases were purely
business enterprises, and that he
was not = speculater in the general
acceptation of that term. 1t is not
known that he owned any vacant
lots in the upper part of the Island.
His purchases we're chiefly OF ina
proved property, or lots upon which