Excerpt from Poor Trinity, 1859: The Report of a Committee on the Condition of the Finances of Trinity Church Nobody understands the Virtue of t as mode of computa tion better than Trinity herself. On the lst of January, 185 she reported her property as being worth, provided there were no leases on it, But because of the leases yet to run, she computed that the value of the reversions was, on that lst of January, 1856, only 71. The difference between these two amounts is 29, the whole of which the Corporation was ...
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Excerpt from Poor Trinity, 1859: The Report of a Committee on the Condition of the Finances of Trinity Church Nobody understands the Virtue of t as mode of computa tion better than Trinity herself. On the lst of January, 185 she reported her property as being worth, provided there were no leases on it, But because of the leases yet to run, she computed that the value of the reversions was, on that lst of January, 1856, only 71. The difference between these two amounts is 29, the whole of which the Corporation was eventually sure to gain, provided only that the world lasted long enough to bring those leases to an end, and the value of the real estate did not fall meanwhile below what it was taxed at in 1855. Of this large amount, the bulk of the lispenard lease had then only six years and four months to run, by which time there would have been added over a hundred thousand dollars to its then present value in 1856; and the Astor lease had ten years and four months to run, at which time its present value would be similarly increased by nearly half a million. All the rest - except that one par cel on a lease for 55 years - would fall in within 20 years and 4 months, a portion every year. Now we have been at the trouble of cyphering out the dif ference, on all these leases, between the present value as given on the lst of January, 1856, and the really present value now - say the lst of May, l859 - three years and four months. And we make our calculations, as we have already said, upon the basis of the value of the estate, as assessed in the year 1855 for city taxation, which Trinity reported to the Senate in 1856. We have grouped and tabularized the whole, so that the eye can comprehend it at a glance. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at ... This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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