The sun., 1900-11-11
"sNUG HiRBOR PROPERTl."
An Investment Of . Few Thousand Dollars
Which Has Growne to More Than . Million.

Capt Robert Richard Randall died very
early In the "a ,ant century and his WILL bear
ius date Of june /, 1901. provided Tor an asylum
for disabled sailors TO be known as Sailors
snus Harbor." The property he bequeathed
consisted Of twenty-on- acres lying in the Fiji
tcenth ward Of this city. together with two or
three lots In the Fret ward. II was the inten-
ton Of the donor to have the hospital built
upon part Of the ground in the Fifteenth ware.
but. in consequence Of the growth OF the city
and the great rise in the value Of property
within It's limits. and the vagrant habits and
character OF seaman, the trustees reserved
the ground In their possession as source OF
revenue for the sIpport OF the Institution
which was located on Staten Island
The report made bv tho triistces for last year
shows tho extent 10 whic b the original b'Qu ST.
estimated st the time at a value Of s6l!vn has
Increased during the one hundred y~ars inter-
vanlng At the beginning OF last YEAR ~
trustees had on hnnd $1,000, The rents which
,h.v received from pr"rerty G e.. mc,ty leasrnoid
rnsrts Welded s?A.elo and minor receipts were
s2727 Tho expenses of the trust were SPAS
S,a.rn Island, il. inrr atos hyidrEs and grounds:
$40 800 for new buildings erected on Staten
Island. extending the Rccomm cdations and
for new bnildings erected on the trust property
IN New York md = 600 for, tie Installation II
m electric light plant NJ Sailo'r Snug HGrf or.
The year 1870 WAS begun with balance on hand
81 SsA sO,-si..ooO moro than at the beginning
OF thr me y1ors wear.
The funds Of tho Institution, at tho begin
ming Of this year. az sci forth bv tho Comp
troller Of the corporation. amounted to more
than q million dollars. OF which. soio,5oO was
represented in the cost Of buildings. erected
or acquired In New York. s?Q7,0o0 In the form
- loans made from the funds Of the in.tit,l-
ton on bonds and n ortCsGes In this city, G?5,.
90 In city bonds. $4,000 In State bonds and
s3i 500 In the bank The Sailors Snug Hsr-
Dor property. as II 4 generally known, includes
q very considerable portion of the section
OF town which lies between University place
and Fourth avenue north OF Eighth and south
Of Tenth streets A large part OF u Is along
University place and a considerable part Of
this remain. practically ,unin!pr1yed, The
during the last iifty years has hewever. been
eIch that the on slnal bequcst of Capt Randall,
for needy American sailors has now reached
value Of more tInn million dollars
An illustration Of the Rr With In value ~
city property vPs shown recently In n transaC-
tion recurring the refling Of an original deed
of pors thnn century ago N the block front
on Canal street, between forsyth and Eldridge
strests. coox75 The old deed, made in i7s5
by Isaac Stoutenburgh and Pr'lip Van Cort;
llndt (Commis sioners OF ForfeIturesl, showed
among other things that - Names Of all the
streets on which the property fares have been
changed since II was made--Pump fCr Canal.
second for Forsyth and Third for EldridSe
The selling price al that tue was $50 The
recent purchase price was s?oo.oc.