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http://news.cincinnati.com/article/...|newswell|text|News|p&gcheck=1&nclick_check=1
Stone, born in 1767 and nine years older than the United States, moved to Cincinnati in 1802 at age 35, arriving from Massachusetts in a covered wagon. A lawyer, Stone lost his sight and turned to banking, becoming president of the Bank of Cincinnati in 1814 at the same time he was a member of Ohio's Fifth General Assembly.
In the next few years, he donated money to help found what now is the University of Cincinnati and Downtown's Christ Church Cathedral and became active in the Episcopal Diocese of Southern Ohio. He was well-known in the area as the owner of a large house and property that included a portion of what today is Fountain Square.
Stone became so successful politically and as an investor that he persuaded Ohio lawmakers to rent him a large portion of what is now Queensgate, Sedamsville, Lower Price Hill and East Price Hill.
The property originally was part of the 1794 Symmes Purchase, made by John Cleves Symmes, father-in-law to President William Henry Harrison. That land was divided into 36 plots, including Section 29, which was reserved for "ministerial use," meaning any income derived from the sale or lease of land in Section 29 had to be distributed to area churches.
Section 29 was bound on the east by Mill Creek, on the north by what was essentially the southern edge of today's Sixth Street Downtown, then known as Lower River Road. That extended west to East Price Hill near Grand and Hawthorne avenues and then directly south to the Ohio River. It was located in what was known as Storrs Township, named after Abigail Storrs, the maiden name of Stone's wife.
In 1810, Ohio rented Section 29 to Stone, who sublet some properties for income. In 1821, Ohio altered the original lease, allowing Stone to rent Section 29 for $40 per year. He was given a 99-year lease, "renewable forever."
Storrs Township was annexed into Cincinnati in 1869, but courts later ruled Stone's estate still owned the ground lease rights to Section 29.
That proved to be a wise investment for Stone and his estate.
"Cincinnati is in a growth mode at that time," Black said. "The value of that property grows."
