Paulus Hook with its ferry rights passed from the possession of the
Van Vorst family to Anthony Dey of New York, on March 26th, 1804. The
consideration was an annuity of $6,000 in Spanish milled dollars.
Dey conveyed it to Abraham Varick, who on the 20th of the same month
conveyed it to Richard Varick, Jacob Radcliff, and Anthony Dey. These
men were eminent and successful lawyers in New York and became the
founders of Jersey City. They divided their purchase into one thousand
shares, associating others with themselves. A map of the property was
issued and a sale of lots was advertised for May 15th, then adjourned
to June 12th, 13th and 14th. Upon the 10th of November, 1804, the
Legislature passed an act incorporating the "Associates of the Jersey
Company." This bill was drawn up by Alexander Hamilton. To this
corporate body Radcliff and Dey conveyed Paulus Hook, February 1st,
1805. For fifteen years the Associates possessed the government and
shaped the destinies of the town and their influence lasted long after
the original members of the company were all dead. The corporation
still exists and owns much valuable property.