The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-06-25
RICH MEN OF GOTHAM.
The Host of Mnlionalres in New Y

The Host of Millionaires In New Y ork
NEW York, June 2S.-How many mill
ionaires are there in New York and its
vicinityl
This interesting query can't be answered
by examining the tax rolls Of the assessors.
They shed no light whatever upon it. Nor
is 1T practicable to make a house to house
canvass of the matter. A little a priort
reasoning does however, show their num-
ber necessarily to be very large.
Fifth avenue begins at Washington
square. Put down half n dozen or so mill
ionaires of the Knickerbocker type for the
square and press on up the avenue. Be
tween the beautiful old square, so dear TO
somnolent responsibility, and Central park
there are 769.streot numbers. Making a
reasonable allowance for the space occupied
by club houses, boarding houses, gambling
houses and churches and for the ruck of
high furniture, bric-a-brac and modistes'
establishments which are chasing tho nobs'
residences out toward Kingsbridge quar-
ter of a mile or 50 a year, there are proba-
bly, not less than 400 private residences on
this portion of the avenue. Above Fifty
ninth street to Seventy-fifth street there
may be 100 or so more.
Now, whom "A person lives on Fifth ave-
either that he is a millionaire or that he N
living beyond his means. The proof of this
is simple. The income of single million,
the possession of which entities the pos
SCISSOR to the termination 'aire, invested in
United States bonds at 125 is $50, 600 per
annum, with the certainty of the reduction
of the capital at maturity to $500, 900. In
vested In real estate or bond and mortgage
1t may produce from $45, 900 to $4,000 an
nually. Invested In business which Is more
profitable than this it must be classed as ex-
ira hazardous.
Now for the expenses The spring test
sales" of vacant lots on Fifth avenue have
already been held. Narrow lots, two miles
above Murray Hill. where now Is a goat
cropped pasturage of rocks, bring $50, 600
each. On Murray Hill, of course, they are
worth much more Cheap houses are never
built on these expensive lots. The cost of
narrow house complete, including the lot,
is from 800, 900 to S225, 600, u palace like
those of the Vanderbilts and Whitneys come
even higher. The first expense the owner
and occupier Of one Of these houses has to
assume by virtue Of his ownership Is, there
fore, some 81. 900 at the very least for inter-
est, taxes and insurance. Add TO this the
cost OF madame's and misses wardrobes,
young hopefu's 5000 year at Harvard,
the cost OF servants, carriages, pew hire,
charity, balls, dinners, entertainments
household exDenses--less than a million
don't and can't safely 30 it.
On the external evidence" then, there
must be 400 or 500 millionalres -ranging
from the comparatively poor chaps with
only one or two each, TO tho Goulds and
Belmonts and Milses and Vanderbilts-
on Fifth avenue alone. OF course external
evidence is deceptive in many cases, for a
variety of reasons, some of which have
been limited at.
But the breed Is not localized on Fifth
avenue. IL fairly swarms elsewhere. For
two miles along Fifth avenue the side
streets are choice, and good houses sell at
800, 900 and upward. Here millionaires do
also abound Indeed, withouta good lot Of
money, a man can't live within sight of
Murray Hill. Madison avenue has its own
quota of wealthy men; quiet Gramercy
Park not few, and solitary members are
scattered here and there as far north as
Harlem and west to Riverside drive on the
Hudson. In Brooklyn there are a hundred,
doubtless; in near haunts Of Jersey and
Westchester county half as many; on Long
Island swarm Of them. Within an easy
ride Of New York's city hall there can't be
less than | 900 millionaires, and there may
be many more, and Mr. Georges attention
is invited TO the patent fact that very few
of them made their wealth In real estate.
OF the second division Of wealthy mem
those whose possessions run comfortably
into the hundreds Of thousands or who en-
Joy incomes Of like proportions, the num-
Der is legion. Some people think that to
be a member even Of this second class In
the scale of wealth Is luck enough.
JOHN H. HEAroN.