New-York daily tribune., 1857-09-29

Central PsIk Interest proportion Of 25j7e'
SINKING FUND.
Statement No. annexed to this report, shows the
amount of revenue received by the Commissioners O.
the Sinking Fund, for the payment Of the City Debt the
.ource frC which 1t was derived and The application
Of the same.
The srooun, received during the year ending June
90
Amount .dssnced to Sinking Fund toI interest
p.,d ad SoI reSssa: bond. stock: Ic aSSs IS
TctL.: ,o,o o,s o.
Advanced from Sinking Fund for psymcn, O6 s2 81
Statement No. shows the receipts and expenditures
for the year ending June 80 1857, account Of the
Sinking Fund Tor the payment Of interest on the City
Debt.
Cash hand July lS8................ Ss4Sc9s 81
Amount SS.hd sS.Ds Ss to snlH: Fund for Of
City Debt July SS.................... 24@S5 Il
II. IS, Ss ,a 20; Interest. sss9sa 81 81
S.; .Si::cs1 8; .: debt.
Cash on hand July l. Is57............".s544Io los l2
Statement No. shows the amount of the permanent
City Debt the LIST day of July, 1857 and also the
amount of stocks and other securities held by the
Commissioners Of the Sinking Fund for the payment
Of this debt.
$l5t2l lo8 %
The Commissicn-rs have purchased from time to
q the stock which forms part Of ~. ,hi:
debt......... ..........& +87,o6l %
They also hold revenue bOnds...... 10000 %
Bonds and mortgages. S6SD o.
Total, 5g9505l O4
Deduct snount advanced from Sink.
ing Fund for payment ofintere< loi64a2 S7-sAsajs 81
Amount unprovded for July 54s sos IS
Statement No. 8 shows the amount of debt created
for the erection Of public buildings the construction
Of docks and slips &c. The several laws authorizing
this de ebt TO be created make provision for the ren
buisement by annual taxes generally SO oOo in each
year. The present amount Of the debt is 81 lj COO.
Statement No. shows the amount Of Six per cert
Stock issued in payment of the awards in the Central
Park ST. 600 COO redeemsble three years, from tue
assessments levied against the property benefited by
that Improvement.
The interest on the above stock is payable by an
annual tax.
Statement No. 10 shows the stocks and securities
held by the Commissioners Of the Sinking Fund for
the redemption of the city debt, July 1857. After
deducing the amount advanced for the payment Of
the city Gebt, the balance is 81 S77 ,55S g..
Statement No. IL shows the smount Of Revenue
Bonds ssued during the year ending June 80 1857 viz
From July ]. 1895. to Jan. !, 1851 ......$2 2i?eIo
From Jan l. 1857, to July l, lss7....... 4lss,s'o
Total amount. .s6s42l6o
There debt of three millions of dollars due from
the Sinking Fund and which must be pSid the lst
Of January 1853. This stock was issued under Chap
construction of the CrotOn Aqueduct at an interest OF
) per ceut per snnum, pay able quarterly. Among the
stocks held by the Commissioners Of the Siukins
Fund, it will be seen by reference TO Statement No.
10 that they held only sos 659 Of the stock cOnstttt
ing this debt the lst Of July. Since that tme the
Commissioners have redeemed the additional sum of
S277 63 of this debt by exchanging for it 6p:r cent
stock belonging to the Sinking tuod.
or the large amount Of stock accumulated In the
hands Of the Commissioners OF the Sinking Fund for
the payment OF the city debt, will be seen by re-
feiirg to Statement No. 10 that nearly the whole
amount consists Of per cent stock, which, in the
present .tste Of the money market is unavaAble for
the payment of the debt, except at considerable
sacrifice.
The bonds end mortgages held by the Commission
ers, as shown in the same statement, and amounting
to The sum Of 5000 o. are not readily convertible
into cash. There is, however, an amount equal to
about s2J0, 600 nclueed in the above sum, which
.itts OF mortgages belonging to the city on lots taken
for the Central Park. For this amount per cent
stock can be issued, which can be made available for
the payment Of the debt due in January.
The Commissioners hold Revenue Bonds to the
amount Of $500 600, which will be paid on the lst of
Jsnpary from the taxes OF 1857.
There is accumulation in the Sinking Fund for the
payment Of interest beyond the calls upon that fund
OF 81 800 QO0 from this fund therefore 600 900
be temporarily borrowed TO aid in the payment Of the
debt due in January. This still leaves large sum 70
De raised from the per cent stock accumulated in the
hahas of the Commissioners for the payment Of the
ae6t as shown In statement No. 10.
on 'ne ist ol August the Corp )ration will pay the
interest on stock debt Of about $S 600 oO0; tits in
c,uoes ~ 4o,Ooi, which has been purchased by the
commissioners Of the Sinking Fund saving the oat-
stanong stock debt at about sl3 500 OU0 Since that
nme there has been issued S275 600 To nav TO- Ihe
STAKE Arsenal which IS embraced in ths Central Park
Inc aet ioT The Improvement Of the Park authorizes
Inc creation of debt Of about 81 500 oOO Anether
sc' iof be erection Of al addition to the CITY II A. au
thofzes the creation Of debt of s. 900 OOO Anothe,
sct ior The erection Of Tompkins Market authonzes
9eot 10 oe created vt Sl75 6O0 ard there is still 10 bs
borrowed about 81 700 600 10 cor aete the new Gro
Sn heseivon All these bonds e1cept the last one NJ.
emeo 70 require The Supervisors annually 70 levy aod
ooneet snm sufficient 10 BAY the interest ON these
oebs. The property holders of this eity tb,refors
nave the prospect before them oi 40 oyer.hsdo win,
oeo' afd RAPID increase to the present take
ton. "e '"A"
Ii addition TO This the reckless manner in which the
opening regulating, grading and paving streets ha.
been earned On h,s fseteped upon the proper hold
ers and The TAX ptyers Of tue city harden of several
millions OF dollars portion OF THE must be c,,,sctAd
by sale OF the real estate Of those who are uoaha
20 pay the assessment and another portion by ore,t
tax upon the city at large.
CENTRAL PARK
The total amount awarded for damages .o pnr,is.
whose lots were taken for the Central Park \. A.
III, ,l26 81.
Settlements have been made with parties having
awsrda, amounting 10 the sum q Si,o5' ,2d G3.
Of this there hss been paid IN 63
IN psf cent Stock. ro %
In Ier L4'SD -
Total. S
The psid 70 pastis, Ter interest On ter
To FOR la ~
f@ seVeftshS "