The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-06-02
TO FOUND 4 SETTLEMENT
james Gordon Bennctts Large Purchase In
the sawmiii River Valley.

Among property owners In and near Yon-
kcrs there is excitement at the prospect OF rise
In real estate as soon as the New York City and
Northern Railroad uate the Boston and Montreal
Rnilroadl, and the Yonkers Rapid Transit Rail
way. are in running order. The roadbed OF
the New York City and Northern Railroad has
boon graded from High Bridge to Croton Lake.
and rails have been laid from High Bridge to
Yonkers. Last week. about 200 mon were ro-
pairing the truck near Kngshridge Back Of
Yonkors. the road runs through the Sawmill
River Valley between high hills. The road is
now under new management. and II is eX-
pected that trains nre to be run from High
Bridge To- Yonkcrs before next year. The Yon-
kcrs Rapid Transit hallway Company was
recently organized. the map Of the route
having boon filed in tho Wcstchcstor County
Registers Office in White Plains on the 2lst Of
March last II proposes to branch or from the
New York City and Northern Railroad at
Mosholu. which was pnrt Of the Van Cortlandt
estate and run along South broadway and
Main street 10 Getty square which is the contre
of Yonkers. The President OF tho company is
Lewis Roberts. a -four merchant Of New York.
formerly resident of TarrytOwn. 1t IL the In
nnton OF tho two companies To connect with
the elevated railroads now being extended on
tho Yves, side " Manhattan Island,
The Sawmill River valley has been almost
entirely neglected by capitalists aud sprcula-
tors for many years. hut 1t is now beiieVsd that
there viii he considerable interest in the plans
proposed for improving the value OF the land.
Already large lois Of land have changed hands.
Tho most important transactions were record
ed in the Registers office last week and by
them Mr. James Gordon Bennett gets posses-
between YomGers and wiiians6ridge' north Of
Jerome Park. Following the order In which
the deeds were recorded. Mr.. Leonard W.
Jerome and wife gave deed % q quarter In
forest in the ! .40S acres 10 Mr. William X TRAY.
ers, the consideration named being t97 1894.
subject to mortgage made 70 Mr.. John b.
Trevor. on November u. 1872. for 100000.
Then Mr.. Leonard W. Jerome and wife gave Il
deed Of quarter interest In the l.0lS acres to
ing SS9,6l7Os. In that deed Mr.. Bennett assumes
the payment of SIS 600 OF the Trevor mort
gage. subsequently Mr.. Travers transferred
To- Mr.. Bennett his quarter interest Tor the con-
sideration Of 50. The land is described rs that
formerly belonging to William NJ. Tweed and
leonard W. Jerome. and known us the Valley
Farms. IL forms pnrt Of one OF the prrttiost
regions OF Westchester County Three broad
roads extend from lonkers through il. and tho
Croton Aqurduct forms ridge along the side
~ the nigh land ON the east side. In some parts
the land is rough and uncu,tivatad. but on the
east slopc " The high land ON the west are sew
ernl neat farm houses and summer residences
surrounded by rich fields and bright green
pastures and lawns. The Valley Farms were
purchased by Mr. Jerome and Tweed when tile
latter was az the height OH popularity. When
Tweed escaped from Ludlow Street Jail his
purchase near lunkcrs WAS remembered and
detectives tried 30 find him in some OF the
houses on and near the land
What Mr. Bennett intends to do with his land
is not fully known. but ono ~ his representa-.
uVes SAID that he Will soon contract for a large
number OF buildings to be erected. and that in
timg he expects To have 1000 houses on the
land. II Is said in Ionkers that It ia proposed
10 erect houses on lots with more than
INV feet frontage, that can be rented for from
81 200 10 81 900 year. and perhaps upward. on
the insta.lment plan. With the Harlem Rail
road on the east the New York CITY and North
ern Railroad in the centre. and the ionkera
Rapid Transit Railway md the Hudson River
Railroad on the west. Mr.. Benefits settlement
can be reached easily and frequently. 1t is also
near the site selected for new reservoir for
the Croton water. Before going TO Europe Mr..
Bennett gave one Of his lawyers "A full power of
attorney but he is expected here this month TO
look after the transactions.