Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-07-22
FARM
Facts About a Famous Place and Its
Distinguished Mistress
CONSIDERATION SHOWN MRS. CHASE
Details of Her Loss Of the Property
and Her Opportunity to Regain It.
FRIENDS COME TO HER AID

The announcement that the friends Of
Mrs. Kate Chase, daughter of the late
Chief Justice Salmon P. Chase. were rails
ing sum Of money sufficient to allow her
to regain possession of Edgewood. the
famous country residence of the Chase
family, beyond lexington. has created a
great deal of interest in Washington, where
the brilliant woman is so well known, and
where she was for years the undisppted
queen of society. The published statement
goes on to say that a number of gentle
men prominent in Ohio and New York, in
Guiding Senator Brice, William c. Whitney,
c. S. Sorg and John Wanamaker, had de-
termined to subscribe to a fund of $4,000
for the purposes indicated above. A great
many people who have kept track of the
misfortuneS Of Mrs. Chase, and who knew
that the Edgewood property had already
been sold at auction under the provisions
of deed Of, trust, were somewhat surpris-
ed at the publication, believing, as they
did. that Edgewood had passed beyond the
possibility OF being recovered by it's former
owner. Such, however, is not the case; and
statement of the facts connected with the
mortgaglng of Edgewood and the subse-
quent foreclosing OF the obligation will be
found interesting at this time.
She Borrows $4,000.
'EuSeWoOQ ORIGINALLY CONSISTED OIL d tTdct
containing about fifty-two acres. Several
years ago Mrs. Chase sold eighteen acres
Of the property lying to the west. This
left thirty-four acres in the tract surround
ing the mansion. Some years later Mrs.
Chase found herself confronted with a
necessity for funds. While she had in
herited her fathers brilliant mental at
tainments she had not imbibed any of his
shrewd financial wisdom. She INDUCED in
careless i'm.
provements as well as enterprises on her
Edgewood farm that cost large sums Of
money and failed to reach completion in
the first place or remuneration in the last
So four years ago she borrowed $4,000
from the Washington Loan and Trust
Company, to secure which she gave deed
of trust upon the property, with Mr.. AL
bert A. Wilson and Mr.. John B. Larner as
trustees. This money went, unfortunately
the way of the large sums she had spent
before. Some time later, therefore, Mrs
Chase secured. q further loan from the
Washington Loan and Trust Company of
s6.e0a. From the time the first loan had
been negotiated she had paid none of the
taxes or other expenses connected with the
property, and had paid part of the prin-
cipal or any portion of the interest on the
loans. There being prospect of her
ability to relieve herself of her burden, 1t
was decided by the directors of the trust
company t:lat the mortgage should be fore
closed. and in accordance with this action
Edgewood was advertised for sale last De-
cember.
Bought L., by Mr.. Edison.
There Here one or two postponements,
but the sale finally took place January IL.
Mr.. Needham of the firm of Cotton Need
ham, who, together with Mr.. Benjamin F.
Butterworth, are the attorneys for Mrs.
Chase, was present at the sale, and before
the bidding began read a protest against
its consummation, and warning prospective
dders that the proceedings were not in
accordance with law. This action had the
effect of preventing several individuals
present from carrying out their intention
of bidding on the property, but was not
sufficient to keep Mr.. John JOY Edison, the
president of the Washington Loan and
Trust Company, from bidding it In for that
institution at figure between $4,000 and
$4,000. which represented the Indebtedness
due from Mrs. Chase to the trust company
and guaranteed by the mortgage.
Kind Trea iment Of Mrs. Chase.
Financial institutions are seldom senti-
mental, hut in the present instance the
trust company, feeling that Mrs. Chase
was the daughter of a most distinguished
American and that 1t might be possible
for her to reclaim, with the assistance Of
her friends, the home so dear to her, de-
cided to show Mrs. Chase the considerati ton
II believed to be her due. Consequently as
soon as the deed conveying the property to
had been properly made out and the title
of the Institution in the property further
strengthened by a quit-c'aim deed, which
was given by Mrs. Chase, it was decided
that the latter should be given an option
on the property extending to February /,
1896, by which she would be allowed to
purchase it from the Washington Loan and
Trust Company at the actual amount rep
resented by the sum of her Indebtedness
and the interest thereon to the time Of
such repurchase.
Facts About the Fund.
A few weeks ago the friends of the late
Chief Justice Chase determined to pre-
serve the property at Edgewood for his ac-
ccmplished daughter. and movement was
inaugurated by them to raise the sum OF
$4,000. wfich would be sufficient to pay
off the Indebtedness on the estate and al
low Mrs. Chase a few thousand dollars for
other purposes Chief among the promoters
of this object were ex-Secretary Whitney,
his brotherin-law, Mr.. Oliver Payne, and
Governor Levi p. Morton. Those familiar
with the Intimate details of the matter
said last week that $4,000 had already
been raised, and that the remainder would
be forthcoming as soon as Mrs. Chase
agreed to certain conditions. 1t is under
stood that the gentlemen who are interest
ed liz the raising of the fund are convinced
that Mrs. Chase cannot of herself manage
the property in the best and most business
like manr er, and that they desire to make
the fund something in the nature of a
trust, so that the property cannot be dis
posed of by Mrs. Chase herself, but will be
controlled by the trustees selected by the
subscribers. 1t is said Mrs. Chase at pres
ent rebels against any conditions being i'm
posed upon her management of, the estate
in the future, and that there Is some delay
in the matter owing to this feeling on her
however, that she will realize the wisdom
of her friends and submit to their ARRANGE