Hughes High School - Hughes Yearbook (Cincinnati, OH)

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12 The Hughes Tropertwaocazfion and Value. recorded in Book No. 2,13. 465, Record of Wills, of Ham. Com. Pleasj In April, 1827, the tract of' land referred to was laid out into lots by the trustees. EBook 29, p. 17, Land Recs. of Ham. 100.1 March 3, 1845, a lot on Ninth street was purchased for $9,000, for the purpose of a High School, but in May, 1851, the same was sold for $15,700,- and the proceeds invested in a lot on the south side of Fifth street, at the end of' Mound, in Parlds Subdivision, the lot being 95 feet in front, and 200 feet deep. This ground cost $18,000, and is now occupied by the Hughes High School Build- ing, tDeed Book 168, p. 561.1 THE HUGHES PROPERTY-LOCATION AND VALUE. HE following data are from a verbal statement made by John C. Nye, Collector of the Hughes Fund: All of the Hughes property, except the Hughes High School lot, is situated between Main and Sycamore streets, and extends from Schiller street tthe next street above Libertyh, to the Young Ladies, Seminary, on Mount Auburn. There are also two lots, between Main and Sycamore, below Schiller street. Mr. Nye was understood to say that all of' the ground included in the Within boundaries originally belonged to this grant. The fee of but few of the lots has been parted with. The distance from Schiller street to the Young Ladies Seminary is about ten squares. There are now about one hundredland' twenty tenants; these rent about two hun- dred lots in all, or property capable of being divided into that number of lots. Three whole squares are yet undivided; one

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Origin of the Hughes'Fund. 11 In regard to his last illness and death, I only know about it from what my kind friend John Melindy told me in 1825. Peter and John Melindy took care of THOMAS HUGHES in his last illness. He died in their house on the west side of Main and south of Liberty. street, Cincinnati, on the 26th day of December, A. D. 1824. His remains were interred in the Twelfth street burying-ground, Cin- cinnati, and when that ground was converted into the Washington Park, his body was exhumed and reinterred in Spring Grove Cem- tely, Cincinnati suburbs, where it now lies. It was measulably through the influence of John Melindy and his brother Peter Melindy that Mr. HUGHES was confhmed in HIS OWN CONVICTIONS of leaving the bulk of his real estate for school pur- poses. ORIGIN OF THE HUGHES FUND. HE last will and testament of THOMAS HUGHES, dated 4th day of December,.1824, provided that the ttresidue of my land and property aforesaid shall be appropriated and applied to the main- tenance and support of a school, or schools, in the city of' Cincin- nati, for the education of poor destitute children, Whose parents or guardians are unable to pay for their schooling; the said prop- erty, the management of the funds arising therefrom, and those who are fit subjects to receive the benefits thereof, are to be placed under the control ofa. Board of Trustees. . . . . . . The trustees who remain in said city are authorized to appoint others to 25.11 vacancies from time to time. . . . . The land ttto be by them kept, and rents used for the purposes aforesaid, or to be sold, and the proceeds funded. EProbated December 28, 1824, and . .1 n l '5. . 1 : s 1 .h. V . ,..xx5. . REV s . kt...'1. beTw whi- p Hueav . 0.1 V 1 it'v-WLWawwwxsw-r. h

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Wiowaaap-oogoe :2 - :94 vs-xamw The Hughes CProherzfy-Locczzfion and Value. .13 rented by Eden B. Reeder, and two by Mr. Huntington. The latter is now dividing his squares into lots. These three squares are now in pasture. The division of these squares Will not in- crease the revenue of' the fund, as the above parties are tenants. All of this property is on perpetual lease, at six per cent, With no revaluation. Of the lots built upon, about three-fourths are occu- pied by residences. The whole new rent for about $19900 gross. The original leases were made between the years 1836 and 1840, by the trustees. I 'Lots of this lease, Which, were the fee uninoumbered, would be worth from $2,000 to $3,000 each, are now renting for about $10 or $12, per annum; or less than one-half' of one per cent. The property was rented Without any improvements. i The trustees are disposing of the fee Whenever possible, and investing the proceeds in some manner likely to be more easily managed. Mr. Nye thinks that the tdisincumberedy fee simple 0f these leases of the two hundred lots Which might be laid out of these premises would average $500 each, or $100,000 in all; and that in time the fee of this estate Will be worth more than that of the Woodward estate. PRESENT VALUE. 5 i It would be quite difIieult to give the present value of the real 1'? estate of the Hughes Fund, outside of the Hughes High School property, incumbered as it is, with a perpetual lease, and Without h revaluation, but it would, probably, not bring more than $20,000 or $25,000. The Hughes High School property is doubtless worth $50,000, or $60,000. This is inoumbered by the cost of the school building over and above $15,000, which Will probably amount to about $10,000. Annual income, net, $1,870. It is placed under NWWWWWMaeakgeaj-ewv van; t5 491-74 0