. Manual of the corporation of the city of New York, for the years .. . TONTINE COFFEE-HOUSE. its day a creditable piece of architecture. The ownership wasestablished on the Tontine principle of survivors. Two hundredand three shares were subscribed for at £200 per share, eachdepending on a life selected by the several subscribers, who statedin a memorandum, at the time of subscription, the age, parentage,and sex of the nominee during whose existence he was entitledto receive his share of the net income of the establishment. Onthe death of the nominee the interest of the subscriber ceased,and
. Manual of the corporation of the city of New York, for the years .. . TONTINE COFFEE-HOUSE. its day a creditable piece of architecture. The ownership wasestablished on the Tontine principle of survivors. Two hundredand three shares were subscribed for at £200 per share, eachdepending on a life selected by the several subscribers, who statedin a memorandum, at the time of subscription, the age, parentage,and sex of the nominee during whose existence he was entitledto receive his share of the net income of the establishment. Onthe death of the nominee the interest of the subscriber ceased,and his share became merged in those remaining. The shareswere assignable and held as personal estate. The property beingvested in trustees to hold until the nominees were reduced toseven, when the holders of the shares became entitled to a con-veyance in fee in equal proportions. Among the notable features of Wall street, just prior to the.
Size: 1189px × 2102px
Photo credit: © Reading Room 2020 / Alamy / Afripics
License: Licensed
Model Released: No
Keywords: ., bookauthornewyorknycommoncounci, bookcentury1800, bookdecade1840
