USA > Connecticut > Hartford County > Hartford > Christ church, Hartford, Volume I > Part 8
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The loan having been effected, and the money having been expended in paying a part of the indebtedness of the Parish, it would be well to inquire if the treasurer kept a distinct and separate account of this Fund, that is, every year credited it with its receipts and expenditures. The
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very existence of the Fund, or rather the remembrance of it, would be thus assured. To be sure, it was taking from one pocket and putting it into another. The money was invested in the Church building, and was not absolutely lost, for the security remained, and remains still ; though absorbed by the Parish, it was still secured in the building, and must be so considered to this day.
There seems to have been no further action in this matter until the Parish meeting of April 10, 1837, when the following appears upon the records :
"Whereas, This Parish having heretofore borrowed of the Episcopal Church Fund the sum of eight thousand five hundred dollars, payable on the first day of May, 1837, 'for the sole and only purpose of complet- ing the Church and procuring a new organ for said Church,' and by cer- tain votes of said parish passed on the 18th day of December, 1828, caused Scrip to issue therefor dated the third of March, 1830.
"Voted, That the Wardens and Vestry be and they are hereby authorized to continue said loan for a further term not exceeding ten years, and to cause Scrip similar in form to said former Scrip, to be issued therefor, witnessed by the Wardens and Treasurer of the Parish.
"And whereas, The Trustees of said Episcopal Church Fund did on the 8th day of instant April, pass a vote discharging a lien upon the pew rents for the security of the payment of the interest of the said sum of $8,500, upon condition this parish, on acceptance of said discharge, do pledge said pew rents for the security of the payment of said interest, subject to a lien created on the same by a vote of said parish pledging said rents for the security of the payment of the interest of $20,000 here- tofore borrowed of certain individuals therefor.
"Voted, That this parish do accept said discharge of said trustees, and do hereupon specially pledge the rent of the pews of said church for the security of the payment of the interest annually on said Scrip for said sum of $8,500, subject, however, to the lien created by a vote this day passed, pledging said rents for the security of the payment of the interest on the loan of $20,000, heretofore borrowed by this parish of cer- tain individuals."
The existence of this Fund was thus recognized as late as 1837, as well as the duty of paying interest upon the same.
Let us notice for a moment two of the votes which have been read, passed at a Parish meeting held April 10, 1837. To understand them fully it should be remembered that for
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the purpose of building the Church, stock was created to the amount of $20,000. This was taken by individuals, who loaned to the Parish various sums of money, to be repaid in ten years with annual interest, and a lien was given upon the Church building with a security also of the pew rents and taxes. The interest had been paid regularly, and was endorsed upon the scrip. But it was subject to a prior lien to the Episcopal Church Fund. Whether those "certain individuals " had become distrustful of their security or not, does not otherwise appear, except by the votes discharging the first lien to the Episcopal Fund, and substituting in its place the loan to "certain individuals." Following this was a renewal of the lien to the Fund. Becoming thus a second party to a lien, it would not ordinarily be considered as secure as before. Perhaps the security was thought to be sufficient, but the market value now would be considered as impaired by the transaction. No second or third mortgage can ever be considered of equal value to the first, and no other should ever be taken by religious or benevolent asso- ciations, whatever may be the practice in some commercial transactions. All the funds of this character should be watched with the greatest care and guarded by most abundant security. The gifts for pious and benevolent pur- poses deserve especial consideration, and should be placed beyond the line of speculative investments or temptation of extraordinary interest.
When the principal of the loan became due, in 1847, there were still living and still members of the Parish a few persons who had full knowledge of all the transactions relating to this Church Fund, and, on October 23d, Mr. Cyprian Nichols was appointed to investigate and report upon its condition. This he probably did, for two days afterwards the Wardens and Vestry
"Voted, that the Treasurer [Mr. Nichols] be and he is appointed a committee to receive the scrip of the old Church Fund belonging to Christ Church, and now in the hands of Samuel H. Huntington .*
* We found lying loose in one of the record books the letter of Mr. Nichols to Mr. Huntington on this subject. He had enclosed a copy of this vote of the Vestry, and added to it the following request :
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The following vote of the Wardens and Vestry, passed Sept. 14, 1850, would indicate that the Treasurer did not get it, and that it still remained in the hands of Mr. Huntington :
"Voted, That Zephaniah Preston be appointed and authorized to receive the Scrip belonging to said Episcopal Church Fund, now in the hands of Saml. H. Huntington, and deposit the same in the Phoenix Bank for safe keeping."
This is the last record which we can find relating to any action taken by the Trustees relating to this Fund, and no further mention is made concerning it by the Treas- urer, as we can ascertain, but it is believed that it was deposited in the Phoenix Bank according to the above in- structions. The officers of the Bank think that it was deposited there, but have no knowledge of it now, nor can it be found there. Mr. Redfield states that a most thorough search was made for it, especially when the re- moval of the bank was made into the present new build- ing, but the scrip could not be found. Mr. Charles H. Northam, who was long a member of this Parish and well acquainted with the history of this Fund, some time before his death expressed considerable anxiety concerning it, recognizing the duty of the Parish towards it, and en- deavored to find the location of the scrip, but was not successful .* The chairman of this committee some time afterwards also instituted a search for it, and was equally unsuccessful. As it could not be found in the bank, he enquired of the descendants of Mr. Nichols, Mr. Hunt-
" Dr Sir :
" As I understand the business, the views of the Wardens & Vestry, as Trustees of the Old Parish Fund, desire to make entry upon the Scrip issued on act. of said Fund, of the interest thereon, and that the Scrip shall then be deposited or kept safe, conformably to the vote of the Parish on the subject. When convenient, please hand me the Scrip.
"' I am Respectfully yrs, "C. NICHOLS, Treas.
"S. H. HUNTINGTON, EsQ."
* See p. 101 for account of the discovery of this Scrip.
7
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ington, and Mr. Preston, all of them being dead, thinking it possible that it might be among their papers, but could learn nothing about it. Possibly it is lost, destroyed, perhaps ground up in some paper mill, the devourer equally of many old and precious documents as well as of much useless rubbish which it would be well if it had neither been written or printed. But it is possible, also, that it is still in existence and may be brought to light many years hence, as has been the case with other impor- tant papers stored away in old chests and in old attics, by some one delving for a few grains of wheat in many bushels of chaff.
We close this presentation of the Fund by the following notes of Mr. Nichols in the Treasurer's book, p. 67 :
" The above Scrip, No. 28, [was issued] by Parish to Trustees of Parish Fund [Episcopal Church Fund], which consisted of 85 shares of stock in the Phoenix Bank, and said Scrip was to show the amt. for which the stock was sold. The avails or proceeds of said stock [were] credited for Parish purposes and applied in building Church," &c.
There is another memorandum on page 54 by Mr. Nichols :
" This Serip was placed in the hands of S. H. Huntington for safe' keeping, thien one of the Wardens, it is believed,* and still remains in his hand, Feb. 7, 1848. - W. and Vestry have however passed a vote that Scrip be returned to Treasurer of Parish. But as the form was objected to, it was not deld. Mr. H. will deliver the Scrip to Trustees of the Fund on being required by them. April, 1849. Scrip has not yet been given up to Trustees, but ought to be done."
Mr. Cyprian Nichols, who was treasurer of the Parish for many years, was early in life connected with it, and was much devoted to its interests. He was of more than ordinary intelligence, of great prit- dence, and most scrupulous integrity ; the possession of common-sense was eminently developed in him. Whatever business he undertook for others was as well cared for as if
* Wm. H. Imlay and Nathan Morgan were the Wardens in 1830. Mr. S. H. Huntington was a member of the Vestry.
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it had been for himself, and it was with him no less a point of honor than a conscientious sense of duty, that he for so long a time administered the financial affairs of the Parish. His accounts show great attention to details, both in presenting his annual reports to the Parish, in giving estimates of its probable receipts and expenditures, in procuring loans, and paying of interest. He also took the liberty of adding various side notes and explanations to his figures, which help won- derfully in making plain something which would otherwise be obscure. He was a member of the Vestry in 1807, a faith- ful attendant at its meetings then and afterwards, serving upon numerous committees year after year, treasurer of the Parish for a long time, and held that office at the time of his death in 1853.
There was formerly a law of the city that no fire should be kindled in a stove newly set up until it had been inspected by a fire warden, to be assured of its safety. His regard for law, and sense of responsibility for the Church, led him to look after this matter as carefully as if it had been his own house. A faithful diligence like this would doubtless prevent the loss by fire of many churches, at this day accounted for by an " overheated register " or "defective flue." This mem- orandum, found in the book of the Treasurer, and made by him, is copied from page 171, Vol. I. It illustrates well his great carefulness and prudence :
"Oct" 22d, 1842. This day at noon, called upon Denslow, Fire War- den of [the] Ward, to examine the stoves at Christ Church, which were this day newly set up. Went with the Warden, and he examined those in the body of the Church, that in Vestry room, and also the stove in the Chapel, and said the whole were in excellent order, and he thought safe."
A member of this committee remembers that he was sent by his father to the fire warden, Wm. H. Hoadley, in 1828, to examine the kitchen stove to see if it was safe. The ques- tion of lighting a fire in it before it had been officially exam- ined, was a matter of family discussion ; though it caused some little annoyance by the delay, the question was settled in the negative. Mr. Hoadley examined it carefully, espe-
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CHRIST CHURCH, HARTFORD.
cially where the pipe entered the chimney, pronounced it safe, and we were well satisfied. He was a useful man.
The true status or legal condition of the Episcopal Church Fund can only be obtained except by a careful and thorough legal consideration of it. Though different opin- ions are held about it, and its revival considered of no great importance, and no meetings of its Trustees have been held for many years, yet it must be remembered that the Trustees are still in existence by the annual election of Wardens and Vestry. These were constituted Trustees by an act of the Legislature ; it was by no election as separate and distinct officers, but from their election as Wardens and Vestry, they became Trustees, and might at any time have attended to their special duty had they been so disposed. There has been no failure to elect Wardens and Vestry in any year, and so the Trustees may be fairly said to be in existence at the present time.
If the Fund was actually in existence as a separate and distinct Fund, invested, for instance, as it was when loaned to the Parish in 1830, it would in a pecuniary sense be of benefit to us now, as it would in a measure case us of some burdens not easy to be borne, and aid in extending some of the work of the Parish. The only practical way to bring this about, as it would seem, would be for the Parish to pay this loan ; but as this cannot now be done, it is possible that some one person, or a number of them, may in the future find it to be their duty to do this generous act. The loan being paid, the Trustees then in office might invest the sum and annually pay the income to the Parish. The Fund is then revived and restored to its original purpose.
But with the different views which are held concerning it, and the possible legal complications, the committee have no recommendations to make and content themselves for the present by giving this history to the Parish. Some way out of the difficulty may be evolved in the future.
Since the above was written the Scrip, No. 28, for $8,500, has been found, as will be related. It is thought best, however, to let the above stand as a matter of continuous history.
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REPORT ON FUNDS.
THE CHURCH SCRIP, OR PARISH SCRIP.
The Parish created stock to the amount of $20,000 for the purpose of aiding in building the Church, and issued Scrip for the same. This was taken by " certain individuals " who loaned this amount to the Parish. The Episcopal Church Fund having been sold, was also invested in this Scrip, and was to be treated and considered in all respects like the preceding issue. It was called No. 28, and is so recorded upon the Treasurer's book. For a long term of years this certificate was supposed to be lost, as the most diligent search had not enabled anyone to find it. It was, however, discovered in the Phoenix Bank a few days since in a folded envelope, carefully sealed, the seal bearing the impress of the letter P, and had undoubtedly been deposited there by Mr. Zephaniah Preston in accordance with a vote of the Trustees. It has upon the envelope the following endorsement:
"Certificate of Church Stock, owned by the Trustees of the Episcopal Church Fund.
" Deposited by Z. Preston, Committee of the Board of Trustees. "July, 1852."
This paper is clean and in good preservation, and has 11pon it no indorsement of interest or of its renewal in 1837. It is similar in form to the other numbers of the Scrip except in the filling of the blank spaces of the printed copy.
The Parish had voted, March 20, 1827, to erect a new Church building, the cost of which, with the site and organ, should not exceed $28,000. It was proposed to borrow the needed amount, and it adopted the method of creating stock for this purpose. It does not appear that any money was raised in advance by subscriptions. It was
"Voted, That for the sole and only purpose of erecting a new Church for the use of the Parish, and of procuring a new organ for said Church, this Parish do accept of a certain penal bond, dated the 16th day of Feb- ruary, 1827, executed to the Parish by Nathaniel S. Wheaton, William H. Imlay, and others, hereby ratifying and confirming all the provisions in the conditions of said bond implying an obligation on this Parish.
" Voted, That the rents of the Pews and Slips of said new Church, when completed, be and they hereby are specifically pledged to secure the payment of the interest on the stock created by the conditions of said bond."
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CHRIST CHURCH, HARTFORD.
A copy of this bond is not to found upon the Parish records, nor have we succeeded in finding it anywhere .* It was probably only an agreement by the subscribers to take a certain amount of stock in the proposed move- ment, just as is now done in the organization or creation of banking, manufacturing, or other joint stock corporations. This is indicated by a vote of the Vestry, Aug. 12, 1828, calling for "a further installment of 25 per cent., to be paid by the subscribers to the bond for raising money to build a new Church," etc. The subscribers to the bond were undoubtedly the persons to whom the Scrip was issued, and whose names are now to be found upon the Treasurer's book. These were all members of the Parish, interested in the object and willing to loan to it their money, but who did not feel able to give it outright. At this day we should subscribe a certain sum for such a purpose, and agree to pay it when called for. As a curious financial transaction and as illus- trating some of the methods of our predecessors in Church building, it may be stated that this Scrip became negotiable paper, and some of it passed into the hands of non-members of the Parish, and even non-residents of the town. It was con- sidered a good and sound investment, paying six per cent. as interest, was exempt from taxation, and very sure to be paid in the future. We found a bundle of this Church Scrip among the parish papers, and at first thought we had found the long lost Scrip which Col. Northam and others had searched for in vain. But, upon examination, it proved to be the Scrip issued in 1828 for the purpose of building the Church, and was due in 1837. This was printed upon an ordinary folio sheet, with the necessary blank spaces, much like an usual mortgage bond or lease. In the Appendix will be found a specimen of this Scrip, which is well covered with receipts for the annual interest. In this particular instance, "Scrip No. 11," the money had been loaned by Jeremy Hoadley, but it had afterwards passed into the hands of "Frederick Rob- bins for Roxy Goodspeed." He endorses upon it the interest, and acknowledges the payment of the principal by "the
* Since the above was written, a "copy of the penal bond," so en- dorsed, has been found, and is printed in the Appendix.
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REPORT ON FUNDS.
above Scrip cancelled by renewal Scrip No. 45." This renewal was for the term of ten years, and was authorized by the Parish at a meeting held April, 1837. The following is the vote:
"Whereas, this Parish having heretofore procured a loan payable on the first day of May, 1837, ' for the sole and only purpose of purchasing a site, building a Church, and procuring an organ,' and by certain votes of the Parish passed on the 20th day of March, 1827, caused scrip to issue therefor, dated the Ist day of April, A.D. 1828.
" Voted, That the Wardens and Vestry be and they are authorized to continue said loan for a further term, not exceeding ten years, and to cause scrip, similar in form like said former scrip, issued therefor, wit- nessed by the Wardens of the Parish.
"Voted, That the rents of the pews and slips in the Church be, and the same hereby are, specially pledged for the payment of the interest annually, on said scrip, to the holders thereof."
There is no further reference to the Scrip until April 29, 1841, when this vote was passed :
" Voted, That the Treasurer be authorized to borrow, if necessary, a sum of money, not exceeding ten or twelve hundred dollars, to pay in- terest due on the Church scrip, said money to be repaid from the pew rents and taxes first collected."
The amount voted by the Parish ($28,000), not being sufficient to complete the Church, there was a Parish meet- ing held December 18, 1828, "on business of importance," and the object being stated, which was to create more stock for completing the new Church, it was
"Voted, That the Parish do authorize the creation of addi- tional stock to the amount of fifteen thousand dollars for completing the new Church," and then reference was made to " a certain penal bond, dated the 16th day of December, 1828," which was again ratified and confirmed, and the rents of the pews were pledged again for the payment of the interest on the stock. The building committee were em- powered to dispose of the stock, and apply the amount for building the Church, and for the organ. At another Parish meeting, January 21, 1829, it was
" Voted, That the bond accepted by this Parish at a meeting held the 18th day of December, 1828, for the purpose of raising fifteen thousand dollars stock, be altered, by striking out the clause in the same which
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provided that the said bond shall not be binding unless the whole amount of said stock be taken up."
Of this additional stock there was "less than nine thou- sand dollars created," as appears from the following preamble and votes, which were passed at a Parish meeting July 4, 1833 :
"Whereas, This Parish, by sundry votes passed on the 18th day of December, 1828, authorized the creation of stock to the amount of fifteen thousand dollars, for the sole and only purpose of completing the new Church, and a part only of said stock, less than nine thousand dollars, was issued, and whereas a balance is now due to the Building Committee for the same objects : -
"Voted, That the Wardens and Treasurer be authorized and directed to issue scrip to the amount of three thousand and five hundred dollars for the payment of the balance due to said Building Committee, in the same manner as if said sum had been subscribed under the aforesaid votes of the 18th December, 1828; and that this Parish do hereby assume the same obligations, and confer on the holders of such scrip the same rights as if said scrip had then been issued.
"Voted, That the Wardens and Treasurer be authorized to dispose of said serip to the best advantage, and that the Treasurer apply the amount thereof to the payment of the balance due to the Building Com- mittee. "
This Scrip was renewed in 1837, and most of it for an- other ten years also. But it was all finally paid, this and the first issue also, the last payment being to Nancy Waterman, in 1850, as will be further stated.
Perhaps there was a difficulty in disposing of the addi- tional stock ; perhaps, and this is more probable, the parish- ioners had come to realize that it was time to do something more than to pay interest upon borrowed money, and give something themselves to aid in extinguishing the debt which they had incurred. It should be stated in justification of this issue of Scrip, that the churchmen of Hartford had, within the decade, been large contributors to benevolent and educational institutions in the city. The Retreat for the Insane, Washington College, and the Hartford Academy, shared largely in their bounty; they were not lagging in their offerings for all charitable work. Episcopalians had not been regarded very favorably in the past, but, after the
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REPORT ON FUNDS.
great political revolution in the State, they became a power not to be despised. There naturally followed a more chari- table understanding among all religious bodies, and a general feeling that the intolerance of the past was neither Christian nor in any way beneficial. During this period, the prejudices against the Church were much allayed, and many connected themselves with it, from its conservative char- acter, its freedom from illiberality, and from a love of its noble forms of worship. The new movement gave addi- tional zeal to its old members, who became more zealous in good works. Nor was this visible prosperity confined to one body of Christians, but it was felt by others also. The political zeal which for many years had been very bitter, was partially allayed, and men began to think that, after all, they had very much in common. As a consequence of this sense of freedom they turned their attention to manu- factures and internal improvements, and the State soon became a different State from that at the beginning of the century.
The old church building, on the north corner of Main and Church streets, was not large enough to hold its worshipers ; with that pride in appearances which affects saints as well as sinners, they desired a larger, more convenient, and ecclesi- astical structure. Mr. Towne gave them a plan for a noble building, which was a model for strength and beauty; it was well supplemented by the fine taste, knowledge, and zeal of the Rector, Nathaniel S. Wheaton. To .his indomitable energy, we are indebted for the present building; the parish- ioners, through his influence, were led to a larger expendi- ture than had at first been contemplated, and greater also than they thought they could readily meet. But the spirit of progress in the community, and that confidence which comes from the assurance of a bold leader, enlisted them in a scheme which at first seemed beyond their ability or ex- pectations. When we know that the money in circulation was limited, and that a large share of the business of the country was transacted upon notes, promises to pay, and barter or exchange, we may forgive some of their methods,
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