The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-06-29
IN ROUND FIGURES.
The Value of Church Property in New
York City, $8o,OoO,ooO.
From the NeD York Star.

AOIh WY 1OOsOOO,OOO.
From the Neo York Star.
The New York church property, as it
stands to-day, is worth in round figures
not less than SS0,0OO,0O0 This enormous
sum is distributed unequally among over
fourteen distinct denominations and large
number of Independent churches and mis-
sions. The greater part Of this property is
exempt from taxation. The rich est de-
nomination in the city is the Protestant
Episcopaliau, whose property is valued at
some s30,000,000 and followed by Roman
Catholic, Presbyterian and Dutch Reformed
churches, in order named.
In the Protestant Episcopalian church
Trinity parish stands at the head, owning
more property than all the other Episcopal
parishes put together. The Trinity prop
erty is by far the richest owned by any one
parish in this country, and even in the
world. The taxable property which pro-
duces an annual income, and is leased for
secular purposes, is valued at only $S,000,-
600, but the immense blocks upon which
trinity church and st. Pauls chapel stand
are worth enormous sums. Besides
this, the many church buildings and
graveyards of the parish swell the
volume of Trinity's estate to great mag
nitude. This income is not wasted, but Is
spent during the year in church work and
charities. This parish comprises seven
church buildings, namely, Trinity church,
Trinity chapel, st. Pauls, st. Johns, st.
Chrysostom, st. Augustine and st. Corne-
Illus, all of which, with about eighteen other
Epi copal churches, receive tue aid of the
parish in the acceptable shape Of contribu-
tions. The annual income from Trinity's
secular property amounts TO almost 81, 000,-
600 year. OF the sixty-four odd churches
in the denomination not more than ten are
burdened with debt.
The Catholic estate in this city is estimated
at about $40, 600 1t has heavier debt
burden than any other sect, yet in many of
the churches work is going on rapidly to
extinguish it. The cathedral property oa
Fifth and Madison avenues, Fiftieth aud
Fifty first streets including the new tow
ers, is valued at S3,500.000 The lsnd COM
prises thirty-two full lots. The Jesuits of
Sixteenth street rank second in point of
wealth. Their new church edifice is con-
sidered by many to be ever grander in a
way than the cathedral The Immigrants
Industrial Savings B Ank holds many and
large mortgages on the church property. as
do also but in smaller amounts, the Citi-
zens' and the Bowery banks.
About one-fifth of the forty PRESBYTERIAN
churches are burdened with debt. The Fifth
Avenue Presbyterian is the richest of the
denomination, having no debt and owning
property to the extent of 100000. Madi-
son Square comes next with real estate
valued at $500, 000
The Dutch Reformed is the oldest sect In
New York, ats history dating back far in
the seventeenth century. Like Trinity, it
acquired its vast ecclesiastical estate
through the progress of the city. 1t was
the custom of this church years ago, when
New York was but a small town on the
lower part of Manhattan island, to give to
their pastors large tracts of land-then
farms-upon which they lived and from
which they derived their support du ing
their lifetime. As a rule the title of these
lands always reverted back to the church.