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.