S. M. Shaw, The Chronicles of Cooperstown…
“ Mr. Henry F. Phinney had returned to Cooperstown with a handsome fortune, with an increased love for his native village, and with great confidence in its future growth and prosperity, toward which he resolved to devote his time and money. He was a liberal subscriber to every good object and true charity. The Seminary property had passed into the possession of the Second National Bank, by which it was sold to Mr. Phinney in January, and in it he sunk not far from $65,000. The interior of the building was changed and improved, to fit it for the purposes of a summer hotel ”
