New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-01-10

dent lands, a further sum, amounting to s55J!s
These lands, under the act of 1850, providing ior
the sale Of lands for unpaid taxes In the counties
where they were assessed, must be SOLD by the
County Treasurers on the first Tuesday OF Deem
ber 1852, when the amount due on them VIII De
restored to the Treasury.
At the tax sale of ls4s, the Comptroller re-
served from sale certain lands on the Buffalo, Cat,
taraugus and Allegany Reservations, by reason oil
legal proceedings commenced by preemptlon own
ers 10 contest the validity of the tax The amount
due the Treasury for advances on the LANDS thus
reserved, which must be realized either from
sale of the lands, or q cal upon the counties, IS
computed at sol, 0OO. The Comptroller had hoped
for an early decision of this important question
but the hearing has been delayed, aud the case IS
still pending before the Supreme Court. The At
torney. General is making praiseworthy effort 20
expedite the proceedings, and declslou VIII
doubtless be obtained before advertising Tor the
tax sale OF 1892. r
At the sale of l54s, the Comptroller for want OF
bidders bought in for the State certain lands at
the amount Of the taxes thereon being $1,000? "a.
There remains unredeemed $4,000 -, besides
interest and it is assumed that $4,000 will be re-
allied from the redemption or resale OF these
lands
In the last annual report from. this Office, the
Comptroller called the attention OF the Leglsia'
ture 70 the accounts between the State Treasury
and the City of New York. The books oil TINS
department exhibited balance against the City
Treasury of Sll3,7l6 81, consisting chiefly oil GER
tain taxes on mutual insurance companies return
ed 10 the Comptroller by the Chamberlain OF the
city in the years ls45, 1886, ls47 and lo45, ana
this balance was increased to Sl323O1 80, by
similar returns of taxes for the year l6i9. Doubts
were entertained as to the legal liability OF mutu'
al insurance companies to taxation on their accu-
mulated funds and for this reason my predeces-
sOrs refused to credit these returns.
The last Legislature CHAP l56, Laws OF 1850
provided for an equitable settlement OF the &C.
counts between the State Treasury and the City
and County of New ork. 4 proceeding was
then pending between the Sun Mutual Insurance
Company and the City Corporation involving the
validity ofthe tax and decision had been given by
a single Judge adverse to the City. The case was
subsequently carried before the Supreme Court,
and fully argued at the last May term, when the
previous decision was reversed, and the legal la
bility of this class of corporations TO taxation on
their investments of capital was affirmed by the
Court. Regarding the Judicial decision as OF bind
ing authority, the Comptroller has deemed 1t his
duty to admit the returns and place the amounts
to the credit of the City Treasury, in pursuance
of section 90, title 4, chapter 10, part l, Revised
Statutes final and satisfactory settlement has
been effected with the Comptroller and Chamber
lain of the City since the close of the fiscal year.
Certain returns conceived to be irregular and I'M
authorized, and amounting to S26,07O 81, were
rejected by the Comptroller, and that amount has
been paid into the State Treasury by the City
Ch~-ALArlAin The returns admitted by the
Comptroller have been pluced an thA hands of the
Attorney General who will proceed to recover
the taxes in the manner prescribed by law, un-
less such proceedings should be rendered unne-
cessary by voluntary payments. The balance
due on these returns is Sl06237 80. Several OF
the corporations have failed since the imposition
of the tax, but ority OF them are represented
as prosperous, and it is estimated that at least
$50 600 will be realized.
The Comptroller is of opinion that in addition to
the current accruing revenues anticipated IN the
regular estimates, the General Fund will realise
from the resources and balances above referred to-
in the years 1851 and 1882 at least S3JO,0OO, and
probably over 100000.
Ifthe Legislature should deem it expedient to
make appropriations for new objects OF utility and
benefcence, the time and amount OF such eXpendi-
lures should be adjusted with reference to these
anticipated means, so as not to trench upon the
current revenues required for the ordinary support
OF government.
For detailed exhibit Of the receipts and pay.
ments on account of the general fund and the other
funds during the last year, reference is made to
the statements hereto annexed, marked A and B.
STATE OF TIE TREASURY.
Balance in the Treasury on the SOth
Amount received into the Treasury
ON OF all the funds, lex
wear ending on he SON Sept.
1850, (see statement A )......... 25o5,So4 80 . -
Amount OF warrants drawn the
Treasury, account OF all the
funds (eXcept the Canal FUND.-
during the year ending on lheS0th
Sept. 1850 (see statement )....2 496 ,(75 90
Amount of warrants drawn on the
Treasury, remaining unpaid
the SOth Sept l949.......,...... l48 Is
249s424 63
Lsss amount OF warrants drawn on
the Treasury, remaining unpaid
on tho seth Sept 1850. ...,....... III Oh
- 2,4es,1R 50
Balance In the Treasury the 3Oh Sept 1850. $500 2 d
Statement Of balance due from aud 10 TIE Treasury The
SOth September 1850
To Ia Sch mud.