The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1890-06-03
THEWEALTH OF TRINITY.
NOT EASY TO MEASURE THE PARISH
PROPERTY IN DOLLARS.

| Fair Estimate, However, Would BE
$4,000, 0,ooo-IncOme from the Taxed
Portion, $500, OOo-The Heirs of Anneke
jams Still Retain Hopes.
Itwas well known lawyer who not long
ago declared publicly that the property on
Manhattan Island owned by the parish of
| Trinity church was worth not less than
$50, 600, 900, whereupon theiheirs Of the late
lamented Anneke Jams began to wonder
| how long it would be before the estate
! would be divided, so thRt each might have
| his or her share. Strange to say, the yes
trymen Of the parish, who are the officers
of the Trinity corporation, regarded the
commotion thereby created among the
! heirs with great compiRcency, and one Of
them recently told Tribune reporter that
| if heirs Of the long since departed Anneke
| continued to materialiZe in future as rap
idly as they have in the past there would
not be enough money to go around, even If
the estate were as valuable as the well
known lawyer referred to had alleged it
to be.
Shortly after he made this declaration
letters from alleged heirs of the famous
ancestress began topour in upon the Rev.
DR.. Morgan Dix, Trinity's rector, and the
well known citizens com mprising the vestry,
modestly asking to be informed OF the date
when the property would be divided
among them, the impression seeming to
have obtained currency that they had but
to ask to receive their proper proportion of
the estate.
LOCATION OF THE PROPERTY.
It may disappoint the alleged heirs to
know that the Trinity property is not
worth nearly as much as s150, 900 Goa, and,
indeed, there is no evidence that it would
bring even half that amount There are
already more than 1000 alleged heirs, and
the number is constantly increasing
DR.. Dix made an official statement a few
years ago in reply to numerous questions
as to what Trinity church did with its
enormous income, in which he declared
that the entire annual income Of the prop
erty from all sources would not exceed
S500,000, which would be equal to nearly 6
per cent. interest on s. 600 900, or, allowing
2 per cent. for maintenance and repairs, 4
per cent. net. During the last seven years
this income has not varied to any great ex-
tent. The figures given, however, do not
fairly represent the market values of even
the non-sectarian taxable property, which
is only a small proportion of the whole, for
the reason, among others, that the income
is largely from ground rents, which do not
return anything like so great percentage
upon the principal as 6 per cent. gross.
1t would be fairer to assume that the in
come given represented a principal of from
$16. 100000 to $50 0G00, 600, this calculation
being based upon the fact that much of the
land is so located as not to command the
highest rates for ground rents. The greater
part of the taxable property lies between
Canal and Christopher streets, west of
Varick and Hudson streets, in which area
there are thirty-one blocks of it, all built
upon Nearly all of this tract is leased on
ground rents for long terms Of years.
The property actually used for church
purposes is, of course, of greater value than
the remainder. There are no less than
seven churches in the parish, ali but oneof
which, with the land upon which they are
built, are owned by the parish.
INCOME AND EXPENDITURE
When asked recently if he could give the
exact value of the church property in the
parish, one of the vestrymen said: "Tlaare
is no way of learning it that know Of
You or any one else can make as good an
estimate as I can. Of course, if Trinity
church should be torn down and its site
and the graveyard cut up into building
lots, the property would bring an immense
price, but as this is likely never to occur,
any estimate ofits commercial value would
be extremely far fetched. Still, / suppose
an estimate could be formed based upon
even so unlikely contingency. The same
might be said Of the property surrounding
St. Paul's. These two churches occupy an
entire block each in the very heart of the
business part of the city, and the land, for
commercial purposes, would be of great
value"
Would you be willing to say that all Of
the church property in the parish, includ-
ing Trinity and ST. Pauls and the nom
sectarian lands, is commercially worth
S1OO, 900, ,OO0?" was asked.
"Oh, no." was the reply; 'T would not
be willing to make any estimate at all, but
can, think, consistently express the
opinion that if that is your estimate it is
too high"
would it be safe to say that s75, ,oOO, 900
is not too high an estimator"
'Well, really do not like to indorse any
conjeotures as to the value, but your jQdg-
ment is better now than it was probably"
Nearer than this the astute vestryman
would not commit himself In forming
an estimate Of the total value of the parish
property, commercially speaking, the ex-
tremely valuable tract now used as the
parish cemetery, in Eleventh avenue,
above One Hundred and Seventy-fifth
street, should not be overlooked. There
are fifteen acres in this tract, which Is IN a
neighborhood in which the land is likely
to increase in value constantly, especially
if the city's dream of rapid transit is real
lied
1t would seem that the income of $500, 600
is sufficient to meet the demands of the
parish. All of the seven churches named
are maintained from this income. The re-
ceipbs from pew rents do not reach one
twentieth Of the amount devoted to the
support of the churches, the design being
to make them all free churches. The par
ish supports IS clergymen, orgEnists, 100
choristers and 12 sections and assistant sex
tons, and the corporation pays the salaries
of a comptroller, clerk, counsel and
bookkeepers. There are maintained also
system OF daily parish schools, en-
ployiug IS teachers and having a capacity
of nearly 1000 pupils; a system of indus
trial schools and an infirmsry. The parish
supports beds in St Luke's hospital and
contributes TO the support Of Is churches
outside the parish.
Tbs church buildings are not taxed, but
sn annual tax OF about S6S, 600 Is paid On
the sectarisn lsads-New York Tribune