Hughes High School - Hughes Yearbook (Cincinnati, OH)

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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

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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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aigwee u , A L h 14 The QBMMZ 0f Trusiees 0f the Hughes Fund. tions for life, and appoint their successors. This fund is now under the control of the Union Board of High Schools, and the dele- gates to the same are Charles E. Stephens and H. H. Tatem. the control of a Board of' five Trustees, Who are to hold their posi- L t THE BOARD OF TRUSTEES OF THE HUGHES FUND. THE PRESENT AND ORIGINAL MEMBERS. HE Board of Trustees now consists of five members, Who hold their positions by a life-tenure. The names of the present Board are as follows: , - . RUFUS KING7 President. . WILLIAM GOODMAN, Treasurer. CHARLES H. STEPHENS, WILLIAM HOOPER, H. H. TATEM. The original Trustees were William Woodward, .Elisha Hotch- t kiss, Jacob Williams, and William Greene. P v esteemewwmmwmwmg