The Columbus journal. (Columbus, Neb.) 1874-1911, 1908-06-24

archives of the Hall of Records are
full of interesting data that bears out
the Aladdin-like story of these things,
the most notable of which are the re-
cords Of the Astor estate, which has
grown from a meager $4,000 in 1886
to an amount exceeding 45l millions
at the present time. 1t is curious to
note, also, that one of the largest land
holders of New York city is Trinity
church. which had u small plot of
ground willed to it in the early history
of New York, and which has so in.
creased in value as to bring in a re-
venue of over l million dollars per
year. This seems to he doing very
we'll for a church fund. New York
city itself heads the list with property
valued at 1000 millions of dollars,
which is FIVE times its bonded debt.
Another interesting story is told of
how the reluctant giving Of promis-
sorry not by a penniless New York
lawyer brought fortune into his
pocket amounting to several millions.
The man referred to, John NJ. Bixby,
came to New York in 1880 from a
backwoods district as q half.starved
lawyer. To pay 81 a week for board
and washing kept him on the verge of
bankruptcy. He struggled on for a
year or tive, and was constantly seek
ing odd jobs outside of the law. to en-.
able him to exist, when q friendly
lawyer, in whose Office he had desk
room, called him aside one day.
"Here is chance for you, Bixby,"
said the lawyer. 81 have an estate to
settle and must get rid Of the farm on
the north side of the city. 1t is ap-
praised at $500. You can have it at
that figure"
81 have not one dollar to my name"
exclaimed Bixby.
"You can give me your note, and l
will renew it until you get ready to
pay it, replied the lawyer.
The young man hesitated for some
time. He was very nervous about
placing himself under obligation for so
large sum, but finally consented.
Young Bixby had to ask for the re-
newal of his note two or three times,
had to deprive himself ofthe necessities
of life to hold the farm, until the open.
ing Of the Erie canal and the first
lighting of the city by gas gave the
metropolis a new birth, and his farm
was quickly swallowed in the growth.
At the time of his death Bixby's pro-
perty was worth 7 millions; to-day its
market value is more than Is millions
and all this through the simple
making of a s2OOI on seventy-fve
years ago.
This is one of hundreds, of Instances
where the enhancement of real estate
values has been remarkable, showing
how many an "unearned increment"
has had to do with the foundation of
immense fortunes.
*
Fewer New Workers own their own
homes than the residents of any other
city in the world. The reason is
simple one; the land is so valuable
that none but the very wealthy can
afford its purchase. Of the 391, 6S7
families living on Manhattan island
only 1886 hold title to the houses
they occupy-and if you will bring
that little pad and pencil into play
again you will learn that ninety-four
out of every one hundred families
make monthly payments to land
lord. When these families move, as
they are constantly doing, it seems
only necessary to take the family
photographs from off the mantel-so
comepletely has their method of life
been systematized. As for the land
lords, they are mightier in wealth and
tenants than any feudal lords of old
as forsooth the Astors, whose immense
multitude of dwellings house a greater
multitude of people than are contain
ed in city of the size of Hartford,
Conn.,; Seattle, Wash, or Nashville,
Tenn.-Bennett Chapel in National
Magazine.