The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-05-08
TIE Financial Affairs Of the CITY.
ffNASCs Dn1ARssEsS. OomP1RokIERs Osylcs,
Nsw YossK. May d, 1851.


be povup 81 the has been unable meet sho heavy
and constantly ncrea,R demands msde upon w.
these s az aTe n nss va ne esssnve -
the treasury, do moi readily appreciate tho u hi,
en- osrrassTssps.
the treasury BEEN eabed - 70 perform d.ins tbs
ststeon nthsthe means ~ rs commandment no ma
ntnde Of the work u has accom-, B-hdd.
TIE ordinary expenses &c de city government for tho
year 1855 ehown - the recent annual report Of the
rSsr pss n y. ss s rT 70 81 is r. This sum
The total aIsoant paid TO the State for tho ato schools
and ne supoo Of sbs sase governmss, IN 1854, was
comp, Of free achoos of CITY In addition 10 the
sum received from mo State School Fund, the sum Of
sss9sas 81 Tho foregoing Sums wero ssciaaed In sbs
IN The 5,h Of Februsry, 1883, tho euproe oonrt con.
OF lands for the Central PARK The awards Cor these hands
Amounted S. ts9nco rs PARK law required that those
awards shoni he PAID by the city Treasury. 'mmedia.ey
after the ntrtos0n Of the report There pct
dollar ia the treasury topsy ts large sum- and how were
tho corporation To ge7ho money The &C, provided that the
corporation nigh, borrow for thu purpose declaring that
he interest should lot exceed per cent The Comptroller
adTer,sed for osn At per cent, but ss EaoDey ooa
awards for the Park could not be paid.
On the b,h Of may, 1856, DEBT Of Sa'b 900 for battling
stock became payable, and was paid oy the nAing fnni
On the I5ih Of August, 1856, awards TO tho o
$70s 900 became duo account Of tho acquisition OF ps
FOR the new Iroon reservoir Tho law in this also
Required that the money should be borrowed at nAneras
not exceeding per cent In this tho Comp.roer da
not through the usess form Of advertising FOR .osn
setting
that they had right of action against the corporation by
sflyiDg 70 the Common Council and anl before any
competent Court. ~ the same ur,e tho Com aro.cr
pointed out the 'pprarticaohty 81 paying th, awars nth
on, an act OF the Legislature authorizing ncrelso # tho
interest 10 be paid and he aso informed them thai e
they awaited tie action OF the Legislature he would pay
them their award the money col,i be Obtained,
with interes. n the rate Of per cert from tho 18th OF
August 10 the date o. payment
In the before described, about coo duo
to neviduals, whose property had been sau from them
Nsno A.Yrh nm AnFsl
In mary cascs those having awards 10 sbsoicto
need Of their psy nnd Is quite rcaksblc that so largo
suD, In the hands Of hundreds Of individuals per
nued so quietly to remain Ia stns Of euspens on Il
shows cOmmeDdaotc forbearanco the par. Of tho in
voluntary creditors Of the city.
The rayInents sccon; Of work done, papaoic by ss
easement in the year 1855, arnoune TO tho Of sI
lei .s2i 81, IN cash and nsessment bonds.
The total receipts from all assc3snen 81
lo7 800 S. Leaving deficiency Of receipts in their &c
oonp,ed for 1896 Of e a94 49, IN addition 10 tho largo
last report Of The Comptroller, p. 80.
During the fiscal year ending Doc. 81, 1853, the total
payments rnade from the city treasury were 800 81
This largely exceeds the payments OF any previous years
as explained in the report alluded 10, p. 0.
lbs brings US to the first Of January, 1887 when NO
commenced the fiscal year with the following hasDces 70
to the credit Of the treasury, viz
On accom-, Of ID Sinking Fund. $T&0,139 90
On account OF the CITY Treasury. l62 70
I%a'''. ,sos 30
On the LIST Of February, 1857, tie Sinking Fund Was
called reimburse Water losn sik issued for money
borrow Cd in 1872 to the amount Of $4,000.
There las been paid to the State Tca ury nce tho les.
O; January the sum Of s2sl 900 accom-, of tho state
school tax, and 500 goo lccoGn Of the State mill tax
To pay :hs OF $3l 0o money has become borrowed
on revenue lands in anticipation OF the tax 10 be levied IN
September next.
There also 70 nc paid awards on The Central park
total sum Of 81 o0o and for award the Crotn o
laws passed by the Legislature tho 10th Of Fob
ruary authorizing s0r5 10 DC Issued Of per cent Tor %
and 80 years 10 pay these awHrds TIC Comptroller gave
amount OF 81 900 0oo This loan taken at par, tie
Comptroller Bidding 'cr 100000 for tho Sinking FUND to
liz regard 70 the Central Fsrl the Comptroller male an
ans nett with the representatives, Of two csi,o 70
take per cont stock in sr for The amount Of tbor claims
ssoo, 600, and the sum was .nksn a; about par.
Az sUon thesc ioaus affected the Comptroller
Issue revenue bonds e, per cont, from $500 and upward
in anticipation o. the ,sxes OF 1857. From the Ash OF
AMI L. mcrhs 70 tho amount OF si,715,oo. But during
Tic period, payment has boon made q revenue
Afor tho passage Of tho tax b. very heavy payments
wore radc OF acouni a. arearages OF 1866 aud for the
oItnary e5pres Of the city goyern,nSn, for ,he frs.
btcn advanced IN tho moan time account Of ssses
nen ooa!Ta Beyond The sums collected Oh The Sse no
count.
All these Operations hsyo MOI ooiy swsIloxoi w ITO
81 e7J go borrowed bonds, and the balance
Ia Tho treasury at the commencement OF tho year. bat
have take quarter Of million OF dollars from the gum
actually provided ard Trough. into the treasury for the
payDeu, ~ awards On TIE Central Park and coton R-er
vo,r and In many the dras given for these awaris
hsve been disborored g.ier the Claimants hal actually
oHccIet releases TO- Dc bcpds taken from them ~ ts
Corporation. l
!. f6po.t rae 70 the Bard o. Aldermen. April 90
1857, tie Of payment. fc- oIeng, regulating end
eeiing streets 70 ICY oti ise ano.nt receives = ta'ea
Tho Sinking fusd for ,he ~ mont q Che debt, sut The
in, ,. h'Fs1 y 70 ~, hgy pr - ~, Ss ~ M
rnlsfoe7s o. TIC sinking Fgrd, Of $4,000 q $4,000
b. 70 - bore II rnl, that tha rant vii be called
AD1f Ltt "a dnr NJ
ssoc coo II Is Absolutely necessary, therefore, 10 keep
ali hc r'souNes or the sinking fund In condi,fn 70 30
az ioG u The aymen a ho Gebt non time b tine,
opporp rel nay be pcsontod, for purchasing DC al2S,
or 70 he available Tor s ultimate te!nburamsn ~ Jan
cay.
toforc btcD zod Unfortunately FOR al demands
tho ifeazrry. TIKI will 70 ongcr be done. When
ihe eurTlas cannot be readily invested In tho stock
debt io- which u IL p.eagcd, II may temporarily be
hened & tho ue-zury on & per cent revonao boecs,
payable Il eu,b uss from The nett svy n may eecure
the prompt nppaoAon Of tho Money 10 mo rcaarrGon or
he rcgcr N Inc rinkng fund THIS will secure " tie
trkus furd tc luerort az all uleg H. snrplus funds
Ts matter k2J been TOO much neglected. heretofore
owing IN some manner 70 the agitation a TIE question u
rorafa TO oeai-ing nieresi on treasury derots viii
rot be any oare- Delayed ~ Tho hcpc OF Dshng
ssy object o. his kud for tie edyanccrneni q te into
rests Q. he fshds oftbc cry IN October sst Sning ,A
bss ree lic-s Nd half q dollars In the ,cegury
Of ~tich ssJo 80 teiong = n The SINKING Fund Tie Comp
trcller called meeting of thc ConTnzto Il tie snf
va ta and ~ up se sd Cornrens SS o I rS sT
ebcud b. vs1'el 70 Icg nc Water i,n d" n fetTrsry
following
Instead Of that readiness 70 seE9 The ffs eafe opgo-tu
rIty Cor adding - 900 20 tho sBsng fund by crct
on sepis which there .u reason o. hope 70. from
the r,hcy cxprcei oFsr ors q several q Tho Cnfnmis
sIone snc fen The zeal for tho public n:eroe % al a
then. TIE year and nays ken Gu The occasion Irsccni
only affirmative vo;cr. Tl.s IrcTsstor vE1 sccou-
f,riNi ty report FROM tho Finance Department ooyy
AZ which tunexea, marked A. tbs information e doc
b. us Cofancz cornell IA order thai they sy ,e Sa-h
H,s- uey May DOZEN pccesary IN regard u interest
on fuas y der IL. The course a lnyest1ea 7rgHcs
c a. tAe ccrl1cn-ae.t a Lss E3oocs vii securc lnt,
re- u sle irplus OF she sinking fund and with the Iroa
pea y ssrpIss IN The payable from tALtOa u.e
rvpnv VII exist cnlv for s,ort period.
Or Mnndsy The tax encocni 6. the bank vas vTeFtFbrn
ese0 600 Apr pie5 20 It's communication II eis'cnart
q the account made CT BY Ole bookkecpct IL Tic hrco
acElr,ue-i e-swcen tho bank and The treasury Cor tie
IL two yoara Ths cverdrafs have eorne,imes Nooa
E.,ic pGroa BIT cy t.sr proportion " The hosvy
bs,a7c.S shIoa Tie tsrAs q; tmes hare iai !. tAer
vsr.l-.
nc tssie fr uir.Y y,erz has tai 90 A-ranCarnari