Communication of Regent Hamilton October 28 1874 University Facts in Regard
Communication of Regent Hamilton October 28 1874 University Facts in Regard
J M Hamilton
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Brayton in part payment for blocks Nos. 2 and 3 (see Statements, page 40). Blocks Nos. 2 and 3 cost $94, 315 51 in this manner. The Re- gents assumed a $50, 000 mortgage for Mrs. Brayton, " and transferred to the vendors the outside property, valued at about $30, 000, adjoining the University site at Berkeley which had been obtained from the College of California. The property (Blocks Nos. 2 and 3), was thus obtained without any addi- tional cash expenditure. " (See same page). On the $50, 000 ...mortgage $11, 386 25 interest was paid by the Regents, and also $2, 929 51 for some unexplained purpose amounting $94, 315 51, the entire cost of blocks Nos. 2 and 3. The fourth block, vacant, and of no use to the institution, was subsequently purchased of the Brayton estate for the sum of $20, 000 (see p. 41). SUMMARY. Block No. 1 cost $49, 030 04 Blocks Nos. 2 and 3 cost 80, 000 00 Blocks " 2 and 3 cost, interest on mortgage, 11, 386 25 Blocks " 2 and 3 cost, item for which no ac- count is given 2, 929 26 Block No.
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