CITY CHURCH MORTGAGES by J. G. Wood

Seventh-day Adventist Publishing Association · Battle Creek, Mich. · Jul 19, 1877

CITY CHURCH MORTGAGES.

By J. G. Wood

[The New York Examiner and Chronicle, said by its editor to be the “largest Baptist newspaper in the world,” contains, in its issue of June 14, 1877, the following statement relative to the indebtedness on church property. J. G. Wood.]

The following table from the Tribune, with comments of its own, needs no comment of ours, except that the mortgage on the Fifth Avenue church has been reduced to about $35,000, and we suppose that on the Fifty-Third street property to be less than $60,000. But the statement as a whole is a thing to be pondered:—

Recent foreclosure proceedings in the case of Dr. Hepworth’s church of the Disciples, and similar procedures in other suits, have lately directed attention to the fact that many of the finest and costliest of the fashionable churches in this city are heavily mortgaged. No other class of improved real estate in the city appears to be so heavily encumbered as that of its religious associations. Of course, no sort of property has more uncertain tenure of its income, the whole depending in large measure on the popularity of the ministers engaged, and on the good will and prosperity of the church members.

Nearly the whole of the debt created by these mortgages has been for the purpose of enlarging edifices, or for the construction of new ones. There can be found scarcely an example where a church has incurred debt for the purpose of increasing the salaries or the numbers of its laborers, or to enlarge its contributions to general charity or missionary funds. All has apparently been for show. Indeed, many of the churches owe their existence to the mortgages with which they are encumbered.

The following list shows the financial condition of many of the New York churches which are mortgaged, and of some religious societies. All mortgages registered prior to 1869 are omitted, and others less than $9,000 in amount disregarded, except in the grand totals. The other figures are exact, as taken from the County Register’s books:—


American Bible Union building,	$20,000
American Tract Society “	123,000
Annunciation, P. E., West 14th street,	16,000
Ascension, P. E., 5th ave.,	35,000
Ascension Chapel, P. E.,	21,000
Atonement, P. E., Madison ave.,	25,000
Brick Presbyterian Church, 5th ave.,	25,000
Christ, P. E., Church, 5th ave.,	29,000
Covenant, Presbyterian, Park ave.,	29,000
Disciples, Cong., Madison ave.,	189,000
Fifth Avenue Baptist,	42,000
Fifty-Third Street Baptist,	67,000
First Baptist, East 39th street,	45,000
First Baptist of Harlem,	22,000
First German Baptist, East 14th street,	18,000
First United Pres., East 116th street,	12,500
Fourth Avenue Pres., Fourth ave.,	25,000
Fourth Ger. Ref. Dutch,	10,000
Fourth Ref. Pres., West 48th street,	20,000
Grace Church, P. E., Harlem,	10,000
Heavenly Rest, P. E., 5th ave.,	137,000
Holy Apostles, P. E., 9th ave.,	12,000
Holy Saviour, P. E., East 25th street,	60,000
Holy Sepulcher, P. E., East 74th street,	50,000
Holy Trinity, P. E., Harlem,	65,000
Holy Trinity, Ev’n Lutheran, W. 21st st.,	23,886
Incarnation, P. E., Madison ave.,	14,000
Intercession, P. E., West 158th street,	45,000
Jane Street M. E.,	14,000
Madison Ave. Ref., Madison ave.,	100,000
Madison Square Pres., Madison ave.,	45,000
M. E. Church, East Circuit, New York,	45,000
M. E. Church, Harlem,	40,000
Memorial, Pres., Madison ave.,	130,000
New York Pres. Church, West 11th st.,	15,600
North-west Protestant Ref. Dutch,	20,000
Phillips, Presbyterian, Madison ave.,	250,000
Puritans, Presbyterian, West 136th st.,	155,000
Plymouth, Baptist,	18,000
Ref. Prot. Dutch Church,	471,000
Ref. Prot. Dutch Church, West 34th st.,	25,000
Ref. Low Dutch Church, Harlem,	28,000
Sacred Heart, R. C., West 51st street,	15,000
Second Cong. Unitarian Church,	64,000
St. Andrew’s, P. E., Harlem,	60,000
St. Bernard, R. C., West 14th street,	70,000
St. Esprit, R. C., French Church of	10,000
St. John, Evang. Lutheran,	16,000
St. John the Baptist, R. C., W. 30th st.,	75,000
St. Luke, Ger. Evang., West 42nd st.,	30,000
St. Nicholas, R. C., Second ave.,	19,000
St. Stephens, P. E., West 45th street,	34,000
St. Teresa, R. C., Rutgers and Henry sts.,	27,000
St. Vincent de Paul, Asylum of R. C.,	5,000
St. Vincent de Paul, R. C., West 23rd st.,	65,000

RECAPITULATION.


Presbyterian,	$706,000
Reformed,	644,000
Prot. Episcopal,	453,000
Roman Catholic,	229,000
Baptist,	212,000
Methodist,	79,000
Lutheran,	44,886
Total,	$2,367,886