New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-01-18

Blossburgh
ppyehs, Is Laws Of 1870 redeensble in 1855. 81
Der 1900
Total .......,...........fp"....sTp yeo
The aggregate of the sinking Funds, in the charge
of the Controller applicable to the redemption Of the
above stock amounted to si7o $50 o. the 3oth sep
TENDER last zee the fund statenenssl.
SCHOOL FUND.
The situation Of this fund remains substantially the
same as stated in the last Annual Report of the Coz
trorer It's capital has been increased, during the pat
6scnl wear csc SOS So. Table ned 10 this w.
port will show the items uch increase snd the pre-
else method Of the investment Of the entire fund.
SANS OF NONRESIDENT LANDS FOR fAxEs.
The amendment of the law at the last session OF tbs
Legislature relative to the sale OF lands for Sen-res
dent taxes by restoring the powers and duties Of this
department 20 its former condition, as conneced with
their sale and redemption cannot but operate benef
cally to all parties interested in them well n to
the Stste itself.
The past wears experience in the Controllers 0kce
has developed new and formidable difficulty connect
ed with the prompt and proper performance Of the du
ties imposed upon that department in relation to non
resident lands: The orginators OF the law which
pnced the collection Of taxes upon those lands upon
The State evidently never contemplated an increase
of the quantity or at least, of the number Of Different
lots 10 Be returned TO this office, that conflict be-
tween the State and the local authorities, where such
lands were situated, could possibly arise When the
present system entered upon large quantities OF
uroccuped lands situated in the different interior
counties of the State and to enable those counties to
realize the amount of the taxes thus levied within their
reepectiye borders the State assumed, or rather adj
yanced, the amount in money, looking for indemnity
to their future redemption by the owners thereof or by
their sale TO parties desiring to purchase the same
This class Of lands then consisted OF tracts, town.
ships and their subdivisions, containing at least
reasonable amount of acres in each. Upon the PERI
oical sale Of those lands the State was compulsory
purchaser of more or lees of the tracts thus sod and
became the owner, WITHOUT conflict as to tito with
any local authority. The system worked wei, WITH.
out any material loss to the State.
The present embarrassment, relative To the manage
ment Of the tax department in the Controllers office,
arises from the immense increase OF the number Of Oes
returned a. nonresident land, in some Of our most
ropulous and fourishng cities in the State. No DE-
fence exists against making subdivisions OF land actu-
ally non resident and the spirit OF speculation or the
real demand for city or village lots, has resulted IN
multiplying the number OF those lots TO an extent that
must il continues, put at defiance the clerical force
in the Controllers department. The same time, labor
and attention is required upon the return OF cxy or
village lot of 25 by 100 feet, a 100 or 1000 acres
situated in any county IN the state
Another and some what serious evil exists in the
fact that the amount of the tax returned and admitted
of this description nearly, II not quite, aoso!os me
State tax the county from which the return u made
ia entitled to credit upon the books Of this Depart
ment of that amount The County Of Erie, through
the City of Buffalo, by ts return Of non.residsn' ISt..
number for being about 1000 lots, absorbs nearly
the entire State tax OF Erie County, which amounts to
s34 OOO Added to this is difficulty that cannot DO
remeded under the present system Of returning TO this
Office any nonresident lots located upon the various
municipal corporations in this State.
While the taxes levied for county and State pur-
poses returned upon such lands to this Office for
collection the same property is assessed for municipal
purposes alone and subject by law to sale for years
Of possession
1t will be clearly seen that while the State, or an
individual might obtain the fee Of lot under tho
provisions Of the law for the collection Of nonresident
taxes the possession Of the might DO postponed
ali indefinite number OF years.
An escape from such u dilemma was effected with
difficulty the past yeai by assignment Of the cerh
authorized under the county sale made IN 1889
This evil must and will increase each succeeding
year, and cannot but deter individuals from
nonresident lots situated within the bounds Of NUM-
cipa corporations if this conclusion be correct the
PURCHASES Of that class of nonresident land must be
made by the Controller for the State and the Surveyor
and Engineers Office soon become through the Com.
missioner Of the Land office, office for the sale Of
city lots.
The Cities Of New-York, Brooklyn and Albany COD
lect their entire taxes under laws applicable to each.
and make returns of nonresident land this office
The Comptroller would respectfully recommend.
fully impressed with the belief that 1t would result
benecia to all parties IN fio TIN tsc v ooec
cities of this State, mot now provided for by existing
aws be placed upon the same footing as those OF the
City of Albany, believing the method adopted by that
city to be the best now in force in this state.
FIRk-IssuRAscE COMPANIES.
The Controller would respectfully recommend to the
Legislature the passage OF law compelling the de-
post in department to be created under me name o.
the Insurance Department, to be located in the State
Hall at the City Of Albany. Of fifty per cent OF the
capital of all iont-sock companies, located within this
State in such securities are authorized by section
of the "Act provdingfor the incorporation OF lLsur
' ance Companies, passed June 25 1852"
II is not presumed that sound solvent companies will
object to this arrangement as that proportion OF their
capital ifpropery invested according to law, can be
held for their benefit by such department with all
the safety that arises tom its actual possession by the
company itself.
TIC expenditures Of sach a department could not
exceed One.twcntieh OF one per cent upon the capa
Of the jont.sock companies.
The same obligation resting upon foreign Life lnsur.
anee Companies proposing to do business In this state,
should be made applicable ~ Fire insurance. Com-
panes located in other states OF the Unlon VIZ de-
post of securities of ike kind and amount In the
hands Of the chief financial officer OF the state where
they are located before granting them certicate 70
transact business in this State.
The basis Of this plan, il should be remarked, u,
that the mass of insurance business to be done in this
State will fall into the hands OF jontstock companies
As an evidence that this is result that must soon be
reached would cal the attention OF the Legislature
the fact of the rhks now in force IN this state by
our iont-stOck companies, before stated, e4s9.-
422, 647 81, and in tho mutual companies, sleJWs,-
400 03. -
The adoption of this plan would soon make the dif'
ference more apparent
The amount Of duties received the past fiscal year
sl45O22 10, showing increase during the year OF
s35e79 OF over the previous year.
IMPROVEMENT OF RIVERS.
There have been paid from the Treasury during the
paet fiscal year. for the improvement Of Rvere Creeks
and Lakes the following sums
Black sS % ss..0 c.n.a Clsci 20
E.ea.is S s .aslis f Rvs h'i::
o'"ss''fTns h''sr... X"
The object proposed TO be attained by these expen-
dures enable the parties in interest TO get the
lumber from Of the wild lands situated in the northern
part of this State.
One Of the Inducements heretofore held forth to the