Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1906-07-18

down to the river. Much of this was
disposed of by Trinity to found
other churches, some was sold TO
meet financial emergencies, but
enough remains even in the one tract
to furnish a splendid income. The
corner of Broadway and Murray
street, a small part of the original
holding, brings into the Golfers of the
church fifty thousand dollars a year
In point of fact, Trinity Church is the
second richest property owner in New
York, with a vast income derived
from its many holdings that in the old
days went by such names as Dom
inies Hook, Lispenard Meadows and
Anneke Jams Farm.
When, in 1906, Robert Randall, son
of the privateer captain, Samuel Ran
dali, died he was without direct heirs
and it was found that his will, in ac-
cordance with the advice of his attor-
ney, Alexander Hamilton, left the
Randall farm and estate of about
fifteen acres two miles up the Al
bany Post Road, in perpetuity for the
maintenance of snug harbor" for
unfortunate and disabled seamen.
The collateral heirs at once instituted
suit and legal battle ensued which
dragged on for more than twenty
years, but the provisions of the will
remain unbrOken. At that time the
farm with its rural roadways and en-
trance at the junction of Lafayette
and Aslor places, was valued at $4,-
233. Today, two plots of it, upon
which stand the buildings of large
department store, are appras ed at
100000 each.
Today. outside of settled business
districts where values steadily in
crease, the rise in property values,
though perhaps not so great, is more
sensational. 1t is caused either by
skillul advertising or BY local i'm
provements. An instance of increase
in value from the lapse of time, and
from proposed public improvements,
is the northwest corner of Sixth
Avenue and Thirty-fourth street, the
site of the old Broadway tabernacle.
About 1910 the lot was purch eSed for
$64 900. In 1902 it was sold for
$1,300,000, having become twenty
times more valuable in fifty years.
Last year. after it was decided to ter
inmate the McAdoo tunnel at Greeley
place, the land was sold to the pro-
motors of a department store enter
prise for S2,00O,000 or an increase of
more than fifty per cent in three
years.
In 1901, before the Pennsylvania
railroad commenced to buy property
on and around Seventh Avenue, land
there was worth some $500 a front
foot Within much less than a
years time values II that vicinity had
increased twenty-five per cent; and
since then have risen from ten to
twenty per cent until now front
foot brings some $4,000. The in
fuence on realty prices of so great
an improvement as the Pennsylvania
station, in conjunction with smaller
improvements like those Of Greeley
place and new department store on
Fifth Avenue, is felt throughout a
region more than a mile square
bounded by Madison and Tenth
avenues, by Thirtieth and Thirty-sixth
streets, making an average increase
of thirty-three and a third per cent
and causing spectators to prophesy
new location for The theater, hotel
and department store districts.
Realty dealers view the present
activity in thir business as the out
come Of the existing national pros
perity. This, they say, is even more
evident in suburban property furrles,
for out OF town the principal buyer
Is the working man, who has ssYed
his wages and desires a home Ct BIS
own. He no longer rents a fat II a
crowded city ditrict, but takes him
self and his family into the suburbs.
where he lives in his own house.