Democratic Sentinel, Volume 6, Number 5, Rensselaer, Jasper County, 3 March 1882 — A Newport Speculation. [ARTICLE]

A Newport Speculation.

In 1850 Wm. Beach Lawrence purchased of George Armstrong and others the Ochre Point property, sixty acres, for $12,000. Once afterward, when hard up for ready money, Governor Lawrence offered to sell the property for $14,000, and again for $20,000, but he found no purchasers. In 1862 the Governor sold a house lot off this property to R. M. Staigg for $2,308.87. Since that time the following sales of land from off the Lawrence estate have been made : To Marshal Woods, for $9,825.63, a small tract; to Professor Fairman Rodgers, three acres, for $3&,795; to the same party, another lot for sll,400 ; to Mrs. Geo. H. Pendleton, a lot, for $10,900; to Pierre Lorillard, ten acres, for $96,147; to the same patty, a lot, for $10,000; to Mrs. Acosty,.a lot, for $10,140 ; to Mrs. O’Donnell, a lot, for $10,140 ; to Professor W. Shields, a lot, for $13,000; to Miss Catharine L. Wolfe, thirteen acres and homestead, for $492,000; to General H. J. Van Allen, ten acres, for $98,942.50 ; to Miss Julia Rhineland, of New York, a four-acre lot, for $60,000. Thus, from a $12,000 purchase the sum of $560,649.97 has been realized. The difference between the two sums represent the rise in value of the property in thirty years. In 1830 the whole property was sold for $465.. — Boston Post.