New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-02-23
to tell him that he had too little pride for his
THE FAMILY ESTATES AND WEALTH.

THE FAMILY ESTATES AND WEALTH.
Few persons in New-loEk have acquired
greater familiarity with The landed possessions oil
wealthy residents Of the city than TTesidehS
Michael Coleman. Of the Department oil taxes
and Assessments. Speaking yesterday OF Johh
Jacob Astors death and Of his properly III 'hlS
city Mr.. Coleman said
For a considerable time Mr. Astor had been
LARGELY increasing his holdings on the Harlem
River and in the Annexed District. lie bought
the Morris estate, which he caused TO be dyked
ont and filed H. and he purchased other
large pieces of land along the line of that improve
mcnt extending as far as Jerome IaIh
and adjacent to it. lie had also bought some
larger plots on the West Side, including a num-
Der of prominent fronts, extending from sueeO
10 street along the Riverside Drive and the west
crn Boulevard. The actual area Of his more re-
cent ACQUISITIONS I am unable to give, but it is
very large.
What was known as the 'radish- garden prop
crty of the Astors, extending from foTty-el@h'h-
St. 10 Fifty-ffth-st., along the line of Third
Fourth, Fifth, Sixth and Seventh aVes, from
Avenue 10 FirSt-aye, is all rented on lease
hold of twcnty-one years, with the privilege OIL
renewal upon valuation The parties holding
the leases have erected their own buildings upon
The same is true of the large tracts between
Forty-thrd and FOny-scventh SITS, west OF
Eighth-aye., where hundreds of houses have been
erected by the lessees on the terms of ground
rent length of lease and renewal.
On the expiration Of the leasehOld valuation Is
made agreed upon by the p>rtlcS, ana the te
ncwal is entered into on the oasis OIL inc cStlpiH
But MIR. AStOrs real estate dd not "HoiIS
consist in property, the buildings upon which DC
lonecd TO other people. lie was the poSsc'sor oI
many costly edlnctS also when Drought NM i"i-e
returns. In the First Ward he owned s'iVI"i iii
nnrtont and valuable p.cccS of land WIN sucH
structures as the Guaranty and indemnify buIiu
ings including Exchange court running nm -.
Broadway along the line OF EA SI1tti 10 Pine
Newest Others are the Astor BulldlhS III llhe
and Wall SIS, ana several big buildings III bIodu
way. and the Aston House, which covers fourteen
lots. The Astor House Is Soo N"i but 81 o6o-
600 would not buy IT,. Ihen "aGns
Thirty-thrd and Thirty-fourth SITS running
from Madison to Sixth ave, ana aiSo wy" avn NV
exceptions FROM Fifth 10 sixth ave, we nnu tlG
land and houses in Mr. AstOrs ownership. ScTeIal
fronts of great value along the llne oil DIoduM"h
at the junction from olly tnlIu TO Ioi'H w
SITS were his. The bulk Of his properly on INC
West Side as far as area Is concerned Is u"ucI
lcasehold But here his name IS never mehuoheu,
ana is almost unknown. except 2inGnS Ni nO1o
Acquainted with the conditions OF the ProPcIN
or purchasers from the lessor. On ihost az
The impoYtant streets Of NcwN ork The Astor
name is known as owning In lee 8.
=" Nh Astor was large heller OIL our sluhlh1
fund securities. having been constant ""GV
of them for twenty-five Years. ne Owned az"
almost the entire issue of the columbus "nu lioCh
ing VALLEY Coal COmpanys stock. Although
inquest iOnabiy conservative, he was nov AWAY IN
investor in giltedec securities. In ORDER u 3't
higher rate Of interest hc often found putting
his money into stocks and bonds which iluctuated
in the market. lie bought GclN oil D,IaWaIc'
LackaWauna ana Western, DcIaWalc ana Eu"S"h'
Western Union and other sticks | might n"ne
lie was one Of the principal owners 1T tie l uI.eI
STATES Trust Company, and was largely interested
IN the Farmers Loan and Trust Company, ana
owned more or less Of tho shares IN every ou
hank in Nc,v.YoIk. Eesiles re held stocNS IN
a number of insurance companies, but IN no way
was he ever connected with a concern OF shaHS
Ills last real estate transaction was made only
few months ago, when he ACQUIRED an entire
front in SiXty-scvcnth or SiXty-clehth ST.; IN
tradc with Cyrus W Field for The estate known
rs the Cottcuet place. Whlcn ahlo!hs !he on
Alexander Hamilton place. He bought the prop
ertv four or five years ago through ms friendship
for General Alexander Hamilton. The Sr4ndaon Of
the Secretary Of the Treasury PAYNE Sou V"o
for il. and cXpcrding 100000 IN putting u IN
complc,c rcpair After General Hamilton dcd'
Mr. Astor became anxious to get nd OF the prop
ertv and traded IL for the iron' nave mchlIOheu'
paying large sum in addition ........o,
The Astor fortune WIS ih''c ana lnci' 1
b,. a simplc method Of accrctlon. Each successor
in tIc bulk Of the fortune has added 10 lt 50 thdt
H. has grown 10 lis enormous proporuoiS OF %
lav Mr. Ast,r was the hardest woTkcr IN ms
,oriIv although the SONS all have been industN-
ous. \ prominent lawyer sid yesterday tnat
Ne secret II thc wcalth-acqnlrine ual'S OF me
tsto~ family was 10 be found in their Devotion
- thcir business, They were rich he said, he
,,,,,. thcy deserved To be- John Jacob, in par
.icular. was s,pcrb manager. lie had n pcIlcc'
.ystom of ~anapcmcnt in his once, arc "loet
md method characterized all that ne dlI.
The bAlk Of the property. estimated N'rlouslE
# between 81. 0oo0oo and Slooooo,coo. viii
IN IN William Waldorf AStOr who now becomes
the head of the .isTor family.