New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1852-12-28
LAW INTELLIGENCE.

SUPERIOR COURT-SPEcILL TEsN-Before judge
EMMEr.
INJUNCTION As TO SALE OF PIERS AND SLIPS.
William 8 Martin ag the Mayor &C., Com mi-si )ners
Sinking Fund
On the motion to dissolve or modify the in.
junction granted (aready referred toy restraining the
sale by auction as advertised for, oath inst certain
piers, wharves and slips, Judge Emmett rendss-i dec
sion. at considerable length, this forenoon He stssed
that the application was by plaintiff citizen AMI nx.
payer 10 restrain the said sale That the complainant
sets forth certain matters among which are tia, the
Public Debt Of the city OF New York el4 OO) that
IN 1874 the Common Council set apart certain
az sinking fund for the exiin guishment of said debt
making the Mayor the Recorder. the Controller and
the Treasurer Of the city, with the Chairman Of the
Finance Committee Of the Board Of Aldermen and Asss
tant Aldermen, Commissioners Of the Sinking Fund.
with power to sell property not in use at not less than
rate hxed &c That IN l545, on instltuing turther
loan of $4,000 for Crcton stock, they made the
loan subject to the provisions OF the law OF s IL also
sets forth that previous occasion certain revenues
set apart by the Legislature for the extingu!sh
ment of the city Debt and il Is contendei tha the oriin
ance OF 1874 is void because gives power to sell &c
IL y alfo conended that the management Of the city
funds is vested in the Finance Department subject to
the legislative regulation Of the Common Council. 1t
states that it appears by the Controllers report OF
Feb, 1852 that the real estate of the city Is worth
1892 s7 which includes unavailable property for the
exfinguishment of the public debt consisting OF public
parks real estate used by the Governors of the Aims
House, and for School estimated, in all, At
Sl 0o s33 leaving only IS 500 J53 the actual avail
able means Of the city for the payment Of the principal
OF the public debt OF sl4 600 from which valuation
the amount Of common lands remaining unsold Is
SAL 45: and the estimated value Of wharves piers and
bukheads 2 COO 1t also sets forth that the Control
Ter has advertised 10 eel at suction by order othe Com
missioners of the Sinking Fund 9th inst, certain
common lands and wharves. piers and slips which latter
(bose advertised TO be sol placed in the valuation
spoken Of AT Sl2l50O0 and which estimate Is greatly
under their real value; that said piers and bukheads
rapidly increasing In valuedOng at the rate OF
10 TO 20 per cent per annuui-and when tho present
leases out much greater rent c obtained for
them, and If rented under prudent and careful manage
ment, they will be of sufficient value TO extinguish the
city debt Ii also asserts that allowing the Commission
OF the Sinking Fund to have power under the ordn
snce Of 1884, they were not authorized to sell the
wharves and slips they are used and reserved Tor
public purpose and therefore, not within the power
of the Commissioners. Tint both branches OF the Com
Council adopted resolution directing the Con-
roer to stop the sale advertised for 2lst inst but that
his Homer the Mayor retained the ordinance TIL Dec ~
being the last day allowed by law for him TO designate
his objection thereto and within day OF the Tina
when the sae to take place vacant lots commenced
the sale and the wharves &C. were to be sold on the
24th, the day which the injunction wac allowed and
that unless the sale should be reaned great and IRE
parable injury viii accrue to the taxpayers OF New
York.
The Judge took up the various points in his decision
He considers that the law of 1912 did not create mort
gage or pledge of the City properly such 10 prevent
the Corporation ceiling Il when IL thought expedient
The Corporation were under no legal disability by the
ordinance of 1874 to sell any City property it might
deem expedient He also considered the ordinance OF
ls45 imperative and void
He considers that the amended City Charter OF 1872
erecting Financial Department, with Bureaus, under
the direction Of the Controller, subject to the legslstve
action Of the Common Council supersedes the ONCE OF
the Commissioners of the Sinking Fund "a no such OH
oers mentioned fn the charters and although the
Common Council in passing an ordinance 10 give the
new charter effect alluded TO the Commissioners OF the
Sinking Fund the Common Council now Is not exclud
ed from questioning the act II hardly I've expect
ed that such Committee the Judge said, can claim
tire right 10 dispose Of the property OF the Ciy not only
free from the control of the Common Council, but IN
direct opposition to the express wish and Judgment oil
that body.
Allowing the Finance department TO have the care OF
the matter If the Controller was In favor OF selling and
the Common Council should pass resolution foroiddng
IL il would be his duty to submit 10 the latter.
The Judge considered, allowing even the SION
ers 10 have powers under the ordinance 70 sell all real
estate belonging the City, not in use oil or reserved
for public puIpOse that the point OF PA ntn that tne
whyes and slips are not included IN that power wen
taken. -, 81,
al have given the application. the Judge said, The
beet snsderaon In my power, IN the Driei tlme nave
had for the purpose and oil opinion that the persons
or officers, defendants in this action Claiming 70 be sucn
Commissioners have authority power, by law, 20
carry into effect the sale OF property to prevent which
thttiniunction in this case was granted
On the point 10 the expectancy OF selling any real
estate Of the City IN the present state OF the Cy deos
or revenues the Judge said unnecessary Tor nun
10 express sny opinion lit Is sufficient that view the
acts q defendants claiming 10 be Commissioners OF the
sinking Fund restrain which acts the Injunction IN
this case granted being unauthorized by law and
acting upon that opinion am bound TO refuse me pres
ent motion to vecste modify such INJUNCTION"
The decision il on the motion made by II. L. DAVIS,
ESQ on Friday 10 vacatc modify the Injunction 20
az to p,imii the sale TO proceed The Commissioners
have leave should they 1T, TO show cause on lst
Monday in January, why the Injunction should not De
made permanent.