The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-01-23
SWAMPED BY MORTGAGES.

HOW THE WESLEY METHODIST EPISCOPAL
CHURCH OF pRooKLYN WAS BUILT, AND WHY
IT WILL BE SOLD
The Wesley Methodist Episcopal Church. Brooklyn,
is advertised to be sold under foreclosure of mort
gage on the LIST prox. The stone of the edhce
was laid in the tall of 1867 the northwest corner of
Tompkins and Willoughby avenues, and a preten-
tious building up, with sharp and weather
gauge crowned steeple, at cost of about $4,000;
S12,500 of the money obtained from the Williams
burg Savings Bank at per cent interest per
mum. Before the structure completed. portion
of the society, fearing the effect OF this debt. left
and joined the neighborins church on Greene avenue
Mr. Robert Benson. retired ropemaker, joined the
Wesley Society about this time and elected
treasurer. To show his appreciation of the honor
conferred upon him he advanced $500 to complete
the church taking second mortgage therefor. This
mortgage he presented to his daughter, Mrs. Abe
Brewer, though he drew the interest on it himself
for some years. The income of the church was
never sufficient to pay the running expenses but the
many dwelling houses in course of erection in the
neig hborhood pointed to better prospects in the
future. and year after year the deficiency was made
up by Mr.. Benson treasurer, or by some of the
other trustees by giving their individual notes for
various amounts.
cHURcHs INDEBTEDNESS
necessary erect chapel adjoining the church for
u Sabbath school, lecture and meeting ROOM
At an expense of about $4,000 such a structure
completed. Then it was found that Mr.. Benson had
advanced over $500, besides the accommodation
notes that were scattered around the market in pay
ment of the. running expenses of the church.
To relieve the society of this sum as floating
debt he took. about three years ago. third mort
gage the church property for $500. The church
debt that date altogether about $3.50 900. The
interest this debt, at seven per cent per annum
sonage $1,000, made the annual payments nearly
$780, without counting gas heating and other nee
essary expenses.
Fairs lectures and extra collections were all called
into play to make the income reach the expenditures
but without avail Next Mr.. Benson short IF
ready means the ial in real estate having crippled
him, and piece after piece of property went to pro-
vide for other pieces until he died December 26
1877.
TO BE FoREcLosED
The church people were then periodically brought
face to face with the financial difficulties. and strug
gled to overmaster them, but have slowly sue
cumbed, and finally defaulted in their payment of
interest. Mrs. Brewer dod, and her husband pressed
for. the interest on her mortgage.
The savings bank, unwilling to allow the default
of interest to proceed further their mortgage
commenced proceedings to foreclose few days ago.
and on the lst prox. the buildings and land will be
sold.
The treasurer Of the church. Mr.. I. c. Nostrand
in conversation with HERALD reporter said I'm
my opinion the church and land will not bring more
than $4,000 or $4,000 which will not pay the first
mortgage.
be left out in the cold
Mr.. NosrRAND--I am afraid that is just how it will
stand. do not see how it can be otherwise, but the
society will take of Mrs. Benson.
REpoRTER-But what will the society do-dissolve?
NosTRAND-Oh, no! They expect to get the church
back. that is if the bank buys it in, which they may
sbe compelled to do. Then we can keep up our
istence and go again in better position than
At this point a collector called on Mr.. Nos.rand to
demand payment of four months rent on the par
sonage and was met with the rcply:-"We have no
Va III n Ia hest Wn n q WI
along"
IN reference to the notes given by Mr. Benson to
relieve the church from pressing creditors Mr.. Nos
trand said At the death OF Benson I went to the
holders OF these notes, some three in number, and
notified them that the church responsible for
them They were not individual paper, and have
since been paying $500 per quarter on thcmthat is,
500 each note" He could not state the exact
amount of the floating debt of the church at this
time, but said 1t considerable.