Ogden, Henry: New York, (New York) to Monsignor Robert Seton: Jersey City Heights, N(ew) J(ersey), 1892 October 4

Ogden encloses an O(gden) and (C. Stacy) C(lark) check for $200 as the dividend to each of the six interested in the "Estate of Emily (Prime) Seton." The money is not wholly derived from the one's interest in the $75,000 Seton holds on his late property, Cragdon but is also derived from the rent of the building 67 Tenth Street and the water right rent. They have not received any of the interest paid the Trust Company but they hope Seton will give them power to collect. Cragdon was sold December 18, 1891. On that day $5,000 cash was paid and $20,000 paid on March 9, 1892 the day the title was passed. They owed Mutual Life Insurance Company $24,000 and their commission was $1,000. The balance of the $100,000 Seton holds a mortage for on Cragdon, say $75,000 at 5% interest. As the lots are sold, this $75,000 will be paid off in sums of not less than $5,000. When $17,000 has been paid, the mortgage on 67 Tenth Street there will be about $58,000 left; this means, say $9,500 each. At 5% this should give Seton $475 per annum. 67 Tenth Street could no doubt be sold at a good price but this water-right, although it yields such a sum as to represent $40,000, could not be sold for more than half that. The city is always just on the eve of taking away these water-rights which have come down from grants made 200 years ago. The best way to get his property separate and under Seton's sole control is to get Mrs. (Isabel Seton) Jevons to buy Seton's one sixth interest in 67 Tenth Street and the water-right.