The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-05-04


lures on trust aud special accounts for the year ending
Dec 81, 1867.
The total amount expended on these &C.
large portion Of this sum Is paid BY taxation Under
general or special laws, wiz
Asylum for Idiots. $500 90
Building Loan Stock ACKNOWLEDGEMENTS. so 900 90
Charges Arrears Of Assessments. 1851 SO
Common schools for State 23l 400 81
Common schools for City. ,lVO4 lO so
Central Park interest on debt .......... 256 roo 90
Deaf and Dumb Asy lum INSTRUMENTATION. 2,870 90
Institution for the Blind .................. $40 90
New. York Juvenile Asylum. .......".... 27,445 IS
Redempsion Of Revenue Bonds 'sss,siS 90
Society for the Reformation Of Juvenile Deiin'
Commissioners Of Record 27Sooo co
2lS,SSe "a
The total payments made for city accounts, as
shown In statement No. ,571 ,633 81
The above statement shows the amour. of expendtures
from appropriations which raised by for the
cluded the levy of 1857 produced by sums raised
for various objects which the expended have
been less Than the amount raised a. may be seen By re-
Statement No appended, has been prepared for the
purpose Of showing by comparison the objects Of expend
tre which have caused the great increase OF taxation
In comparing the total amount Of taxation in 1858 with
1857 1t will be that the increase PIG A. BY
reference TO the prominent items Of expenditure 1t will
seen that large portion Of this increase Of expend
ture upon objects which the Common Council aud
the finance Department have no effective control This Is
shown BY comparison of the following Items
Increase
Common school. for stal 40
Common schools for city. .......... 4962l0 81
Commissioners OF Record. $4,000 90
caaso min UA.. }Oo,5SZ ~
Total. 81 ,es7 ,l7s 81
Although two thirds Of the increase Of expenditures
during the last four has been produced BY
beyond the control OF the city government must
coded that the items Of expenditure under its control have
minsraon OF the city The allusion 70 this
subject made not matter Of reproach In regard 10
the expenditures arst above alluded 70 but merely as
by rigid system of economy In all departments Of tho city
government and OF the State ALSO that the
tax payers are TO find relief from the present heavy
burdens.
rm SINKING FUND.
The receipts and OF the sinking
fund for the year ending Dec 81, 1857, are shown by
statements annexed 10 this report, Is follows
Mo- sS0~s a ans n 81 es c,v ssS
Received on account Of the fund for the pay
mont Of The debt during the year 500 $50 40
Advanced for payment Of inscrest..... sa7b,275 90
Of the Sinking Fund Tor the payment Of nteres,
on the city debt -
the payment Of interest on the city debt
during e year ending December 81, 1878 PIG 443 ~
Balance in bank, January 1o7i677 %
r,ymoos m.d. nom the same fund 800. sisiot %
Balance January I, 1855. ,oa6.olT 10
saaiement No ishsws the total Of city deb, and
the means held BY the Commissioners Of he Sinking Fund
The debt amounted, Jan l, 1868, les 90
me Commissioners held al the same tne.. 5,ssso2a %
s,..mens No shows the stocks and other securities
held by the Commissioners Of the Sinking Fund for the
payment Of the city debt equal TO IS, s6s,6is o.
The various stocks held by the Commissioners o. the
60 1853 and were found 70 correspond with tue
given this statement shown by their certificate Of
examination annexed 10 This report
REDEMPTION op TIE STOCK pEn op TIE CRY.
On the LIST Of February 1857 5000 900 OF the per
cent water loan paid or and cancelled
The sum OF 100000 Of FIVE per cent Water Loan
Issued under authority OF chapter 12s OF the laws OF
1888 became payable according 70 the terms OF the
ufcatcs con after the LIST Of January, 1856" The
fund in stocks and bonds and mortgages applicable 70 the
payment OF this debt Of than 80 600 but rs all
the stesks held by them, with the exception Of about
Comptroller did not think prudent 70 give notice during
the money pressure in october and November that tins
debt would be paid in cnsh on the LIST OF January,
and thai interest would be paid after that date,
had been usual preceding the reimbursement OF former
norts from the Fnapcs PREPAYMENT az Water stock no.
deemabie January 1853, and the holders OF this stock
would have been disappointed payment hal been de-
view OF ali the circumstances the &c mproer 90 the st OF
November sred circular 10 the holders Of The stock,
for the Eve per cent cer,ihoass reimburssbie or
amer the LIST OF January, 1857 These crcrars were
communicated the holders Of the debt In Europe and
the result was the orders for making exchanges Of stock
exceeded the amount which the Commissioners were s
ihorzed 70 issue.
1858 was derived from the following sources -
The sinking Pound held sin per cent bonds and mort
gaece lots within the limits Of tbs Central Park TO the
Of s2s7 lei rs, and tho 2i,h OF October the
Commissioners OF the Sinking Fund passed resolution TO
receive six per Central Park fund stock payment
NJ thcaa
cancelled by the Law FOE the acquisition OF lands tor the
e common lands within the limits OF the Central Park
were valued by the Commissioners At $500 ,e5t IS and
THIS awarded 10 the Corporation and January
90 1885, the Commissioners OF The sinking Fund passed
resolution 70 receive six per cent Central Park
slock for the Of this award, and 10 apply the
same 10 The payment OF the debt Of 1858. The Commits
rcsers aso passed resolution authorizing the cancel.
men OF $4,000 OF Eve per cent stock, for which the
bonds and took the ave per cent stock az an Investment
when could not be made available for paying awards 10
unknown owners and authorized the ssve Of sx per cen,
Iawp OF 1851 which sum was sso applied 70 the payment
the debt Of 1858 These several sums amounsso an az
Tse sinking Fund for the payment Of Inaercs, has
large surplus beyond the amount OF interest annually
CURED and The oo,ro.ed IRON this fund 2
be repaid the sinking fund for the payment Of nteres
by transferring e that fund from the sinking Fund FOR the
payment Of debt equal amount Of FIVE per stocks
| me operations before alluded 10 have enabled the
Comm pay OF and cancel previous the Isl Of
April s2,b7s $50 Of the water stock OF 1855.
| INCREASE oy TITS STOCK nEst oY TIE CRY.
Daring the year 1857 The stock debt OF the cry ha
been Increased s21 by issue OF per stock
as provided by the third section Of chapter $50 Of the
laws OF 1857 This purchase adds about Of laid
20 the Central Park and s275 GEO 70 the debt for tho
QUESTION OF land or the Park. The principal OF this debt
The interest i 70 be added 10 the annual TAX levy
There has been issued during the same year, $500 0C
OF per stock Cor the Improvement Of the Centra
PARK az provided by section TO- chapter 17l Of the laws
OF 1857. The principal Of this debt chngeable upor
the sinking Fund but the interest 10 be raised by ar
any one year AZ six per cent, this aw authorizes Ia,
creation OF debt for the Improvement Of the park equa
10 81, 666, sec 60.
There has been added 10 the permanent stock debt o
the city for the purchase Of land and the construction
Croton reservoir, the sum Of 1904 500 bearing in