John McCarthy - Property Question

[MsWeatherwax]

Good evening all.

I'm on one of my occasional Mary Kelly binges...as ever, I just have a scrambled brain, sore eyes and an annoying sensation that someone has a box of paperwork in their attic that they don't understand.

However, trawling through the threads I've become aware that Mr McCarthy was quite the property developer in his day. I assume that even in the slums he would have needed quite a bit of capital to do this. Do we know where his money came from? Was he from a well-to-do family, or was he 'self-made'? Am I wildly over-estimating how much money you'd need to be a Victorian slum lord?

Any info appreciated, and if I've missed this info along the way. ..My apologies. You lot could write for Britain, though.

Many thanks, ladies and gents.

[David Orsam]

He possibly made his money from organizing illegal prize fight boxing matches (for which he was arrested in March 1882).

[DJA]

An astute property investor who donated to the London Hospital.

If you want to look at entrepreneurs of the time,look at the South African diamond industry.

[GUT]

I suspect he did as many do, to this day, start small (maybe with some family help) and keep growing.

He may even have rented his first slum (given that millers Court was later changed to McCarthy's rents perhaps even that was a rental at first with the name change coming when he bought it) it's also clear that he wasn't worried about bending the law, even if not breaking it in any serious way.

I suspect his shop helped, just as today near me there is a major property developer that also owns the local shopping centre and as they develop more residential property they have to expand the shopping centre, McCarthy had a near captive audience, possibly extending credit where no one else would.

[Joshua Rogan]

This article provides some details of 'Jack' McCarthy's property, albeit in 1901;

http://www.casebook.org/victorian_london/the-worst-street-in-london.html

He owned two lodging houses, at least one of which he bought as a going concern.

[Mayerling]

If you want to look at entrepreneurs of the time,look at the South African diamond industry.

One of whom was an amateur pugilist at one point and lived in the East End before heading for riches in Cape Town - Barney Barnato.

There were several "Rand" Millionaires who were Jewish, but I think Barnato was the only one (except for his heirs, the Joells) who was from the East End.

Jeff

[Mayerling]

I suspect his shop helped, just as today near me there is a major property developer that also owns the local shopping centre and as they develop more residential property they have to expand the shopping centre, McCarthy had a near captive audience, possibly extending credit where no one else would.

I smell the start of a usury racket here GUT, don't you?

Jeff

[MysterySinger]

I think I read somewhere that he was leasing those properties from the owner at the time of the murders. Probably bought them later.

[David Orsam]

I may be wrong but I assumed the OP to be asking where McCarthy got the money from to buy any property in the first place. To that I suggested he might have made money from staging illegal boxing matches, given that he was arrested for just that offence in 1882.

I don't know whether he ever owned the freehold to 26 & 27 Dorset Street but adverts for its sale in 1866 and 1881 (which included 1-6 Miller's Court) suggested those properties produced an income of around £200 per annum

[GUT]

I smell the start of a usury racket here GUT, don't you?

Jeff

G'day Jeff

Let's just say I don't think it was charity

[Joshua Rogan]

I think I read somewhere that he was leasing those properties from the owner at the time of the murders. Probably bought them later.

According to the JTR wiki, he ran his chandler's shop from no.27 and was renting no.26 until he purchased it in 1881. No. 30 was purchased in 1886 and the tenements of 28&29 in 1894.

http://wiki.casebook.org/index.php/John_McCarthy

[DJA]

One of whom was an amateur pugilist at one point and lived in the East End before heading for riches in Cape Town - Barney Barnato.

There were several "Rand" Millionaires who were Jewish, but I think Barnato was the only one (except for his heirs, the Joells) who was from the East End.

Jeff

He had a brother named Harry who was his partner.

After being educated at Moses Angel's school, he used to scam pass outs at the Garrick Theatre which was demolished and became the new site for the Leman Street Police Station.

[MsWeatherwax]

Thank you all for your replies. I'd forgotten about the prize fighting, that's an interesting one.

I could have sworn I read somewhere that McCarthy owned four houses, but I have no idea where I got this from and can't track the information down.

[GUT]

Thank you all for your replies. I'd forgotten about the prize fighting, that's an interesting one.

I could have sworn I read somewhere that McCarthy owned four houses, but I have no idea where I got this from and can't track the information down.

Well he did end up with 4 or 5

26 27 28 29 and 30

I say 4 or 5 as many would count Miller's Court as one not two.

[MysterySinger]

26 and 27 Dorset Street seemed to come as a set with Miller's Court. Original owner was a Mr John Miller (figures) and McCarthy originally leased the properties there from Abraham Barnett.

http://wiki.casebook.org/index.php/John_McCarthy