The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-08-20


Ceatd Park Of this city Tho State owns piece
Of property of considerable extent, on which the
Arsenal Buildings stand. The Legislature which
created Commissioners fbc To regulation and
| government Of the Central Park also passed
law authorizing the sale Of the State Arsenal
and grounds. By this Law the Commissioners OF
the Lard Office were directed to sell this proper
ty by auction, at not less than $275 900; and the
third section gave . sort Of pre- empton right to
the city. If the city should pay over to the State
tie sum Of s276 900 the property Yves 10 be con-
vtyvd to it.
Spectators have cat their eyes upon this
chance ofreking money. The Arsenal property,
being within the limits of the proposed park, must
be procured by the city at whatever cost a
capital operation therefore, II would be, for these
Spectators 10 defeat the rect sale by the SAte
TO the city, procure the property themselves end
theo cell il back to the city, Ia the Gau5evoort
sc6e me, at profit OF come two or three han6reG
per cent That pretty pan appears jest now to
have good Chance of being carried out uw1s
stated within TIE Los. few days ttattte purchase
OF this Arsenal property by the city had been
completed by she payment of the purchase money
| }$275 900 BY che City Comptroller. This, how
ever is an error; but the facts in relation 70 it
develope pretty piece of financial business.
The sum OF s275 900 fixed by the Legislature
is a low figure, as is proved oy the feet thst pri
vste individuals stand ready to Did $500 900 FOX
the same property. Owing to squsSbles
among cur officials, the p1rchaee has net
been made, but the sale OF TIE proper
ty by auction to the highest bidder hiss
| been from time to time postponed by the appli
ance to tie Commissioners of the Land Office Of
that convenient ard SOW fashionable a,ticle-Rn
injunction"
On Friday lat Comptroller Burroxs vas il
this city, and waited upoa Mr.. Fiagg, for the
purpose of inquling what were his intentions il
regard 10 the Arsenal property, intimating ihet
the matter must be closed up at once; that the
! Commissioners Of the Land Office, if prevented
| by an Injunction from selling at auction, had It
in their power, by failing to attend and postpone
| the sale, TO throw the wtole matter overheard
until the next legislative session; that they
wcujd do so unless the city came at once
| to lhe point, and that the Corporation would
| find it difficult to obtain such good terms again
Mr. Fiagg thereupon concluded to close the bar
| gain, and he accordingly issued HE check to Mr.
City Chamberlain Stout for the SUN of $275, 900,
to be deposited in the Manhattan Bank to the
credit of the proper parties This money had
been raised BY loan, and was deposited ia the
Shoe and Leather Bank for this special purpose.
Tie check Was counterdgned By the Mayor, and
the proper deed was delivered TO Mr.. Flsgg by
Comptroller Burrows.
Mr. Stout, when the check was handed to him,
assured Mr. Burrows that all vas satisfactory
| that the amount was large, but that tie deposit
should be duly made the next day, But imme-
| diattly upon Mr.. Burrows departure Mr.. Stout
repaired to the Office Of the Corporation Coun-
sci, and IN company with Mr.. Busted, waited
upon Mr. Flegg. The Watch Dog Of the City free-
sury received them with growl, for be foressS
stormy time 10 the conjunction Of tSo such
| planets. Mr.. Bus'eed opensd fre:-"Ar. Flagg,"
said the Corporation Counsel IL understand
| you have issued creck for 1915, 900 to Mr.
Stout, in payment for tie Arsensl property. II
| will not do sir; it Will not do rs scsndalous;
ito worse-it's robbery. The deed Isn't worth q
straw, Fir, and you have no right to pay tnis mo-
ney uLtil have e1amined end spProsed the
decd
check, end the money is 10 be paid. Better be
satisfied with this tile, and wait till We can get
| better, than sacrifice the property"
Mr.. BUsrxyD-'B But, sir. the title isn't worth
straw
Mr. FiAG0-"Mr. Busted, / believe it's bet
ter title than you accepted tor the Lowber pro-
per'y."
The conversation continued IN the same strain,
Mr.. Busted tuning Mr.. Stout recommending
caution, ard Mr.. Flsgg continuing obstinate, IN
Ill ct length the latter told the Chamberlain that
he might shoulder the responsibility aud do as
be pleased Upon this, Mr.. Stout assumed au-
thority to send letter to the Comptroller IN
forming hin that consent to the payment of the
money had been withdrawn. So the purchase has
fallen through, and the affair remains in s,dtu
guo-Mr Busted taking time to consider
whether the conveyance by the State 10 the city
is complete. We Can hardly think that the title
IL unsatisfactory
In the meantime, this is the day fixed for the
postponed sale in this city; and another injunc-
ton has been served upon the Commissioners Of
the Land Office, restraining them from selling
II remains 10 be seen whether they will refuse to
postpone and thus throw tie whole matter over
to the next Legislature. II is impossible foy tic
money to be deposited on Mr. Flsgg's check, az
Mr.. Stout holds that In bis possession and ss
soon as be had got over the difficulty, il is said,
be left town for some days"
II Ia an III wind that blows nobody good The
s275, 900 to be deposited with the Manhattan
Company would have had TO be withdrawn from
the Shoe and Leather Bank. The use of this
money for q month is worth a couple Of thousand
dollars 10 the latter institution, 70 Fay nothing
about the poesible inconvenience OF its with