The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-09-22
THE JOINT COMMITTEE.
A True Statement Of the City and
County Debt---At Last!
The Committee Apply to the Board Of Super.
viSOrS for Additional Power.
Highly Complimentary Anusion to the Keeping
ofthe City's Books-The Debt To Be Certainly
Larger at the Close of the Year-No Data
in Existence as to Floating Claims and
Outstanding Contracts-A Quiet
and Brief Meeting. but
Plenty Of Business.

The investigating Committee OF sixteen citizens
ana eight Aldermen met Yesterday at the City Hall.
mere was pretty full attendance, but the tone OF
the proceedings was quiet and even dull There
were scarcely any spectators-not enough I'll the
couple OF benches that provided for the accom-
mediation of the public IN the Supervisors chamber.
the session, Also was considerably shorter than the
last and did not stretch out much three-quar-
tiers OF an hour.
The minutes OF the preceding meeting having
been read and approved. the Clerk called out, as The
next thing In the order OF business,
"Are any OF the committees
READY TO REPORr7v
Mr.. BOOTH looking like the very Incarnation OF
solid dignity, then and made the following ex-
PLANTATION of the present situation of anairs:-
The committees which were appointed at the last
meeting nave all given proper attention to their
duties. The committees on armories and the Court
House and printing and advertising, and so forth,
have been here In daily attendance, but, IN conse-
quence OF not being able to have command Of the
books and papers necessary TO their work. they have
been
DELAYED FROM DAY TO DAY
In going into details. The committees have, how.
ever found an entire readiness, both the part Of
the Comptroller and the heads in his department. 10
give up all the hooks ana papers they wished. but
the abors in tnat department during the past few
days have been very arduous and It has been dinl.
cult, therefore, for the documents to be found and
produced rs fast as might be wished. 1t was not
TIL Monday that they got the books and papers
necessary for them to enter fully and completely
upon their WORK, and the committees at once ab-
tanned number Of very efficient accountants to
make the examination ana copy such accounts as
might be deemed desirable. 1t Is expected that
BY TOMORROW
these no ma in v tokn or
as the books have to be used by the department
and the experts, progress Is necessarily Slow The
committee will proceed to work the moment they
get these data. The Committee on the City and
County Debt have been more fortunate. In that
department. there was not any pressure, and the
committee were able TO have direct access TO the
accounts and to all the papers, The committee
began their lab0rs Immediately upon the adjourn
ment of this Joint Committee, and its chairman and
some other members devoted their entire time to
the work all the days OF the week until Fri.
day evening and made most thorough ex-
animation Of that department: They finished
ore or two members OF the committee could very
well carry on. Mr. Phelps, the chairman OF the
committee, was obliged to leave for Newport on ac-
count OF the illness OF his WIFE but the work had
since efficiently gone on This committee have
now, therefore, in part,
PERFORMED THEIR DUTY.
Having ascertained what the city debt really is tney
the JONI Committee At The earliest possible Moment
as the public mind deeply Interested in that Dues
partial report OF what they have discovered as far
as they have gone.
THE REroRr ON THE CITY AND COUNTY DEBT.
Mr.. ROYAL PHELPS then rose and read the follow
ing report on benal OF the subcommittee on the
city and county debit
To CHAIRMAN THE Jorsr CoNMIrTrH OF THE
BOARDS OF SUPERVISORS AND ALDERMEN AND
COMMITTEES OF CITIzESs FOR ExAMiSING THE PUBLIC
sInThe gned special committee appointed by the
city and county debt and the sinking fund.-
That they have thoroughly accounts of
the city in the books kept by the general city bookkeeper the
ALAG The totals from thes. book; wth the dividend
the interest Oh all the city ana county Indebtedness
rhs b hlye sr S BY re- a. the stocks and
they are satisfied that the following statement
s %Si to Ss
bonds Of the city in existence to yesterday afternoon to
r1Rsr-ruspED OR PERMANENT ppEr
Cl.y--Payabe from Snkg Fund 1921 S76,216 30
Couniy-Psyabse from taxation B. t2s 5a2 q
CityPayabc from assessments
STR sl ana Gou H"a dpro..ns uo
THfRp-REvfNUE BONDS
City Payable from taxation in
caaniyFayaCe from taxation ,,.
co%ny"spcca see chapter a '''o''' "
OF Laws OF 1870 .............. 6,3l2,Go % ,.o,o.
Less amount of securities held
By the Commissioners OF the ,. 80, 80
Cash in hands Of Chamberlain,
belonging to Sinking Fund.-. 3s5,2I0 ~ 80 .,,o. =.
The Commissioners Of the sinking FUND also hold
Srpefty sold When your eomiiee ass Examined and
which as fast as paid become the property Of the sinking
All of which respectfully submitted.
Sobfhr hILSox REMEDY,
NEW YORK, September Is, 1871.
Mr.. BoorH then'nqulred from Mr.. Phelps il the
books aud papers examined by the committee were
Mr.. PHELPS replied, stating that he believed he
expressed the opinion OF all The committee that the
wei kept. The books of the city Bookkeeper Mr..
Were o. ana
were equally well kept. He could not say so much
for the books OF the Clerk OF the Bond Account, Mr.
Dyckman whose books were SCARCELY kept as well
as a merchant would like to see For instance, in
opening u book, Mr. Dyckman had
LEFT A BLANK PAGE,
which Afforded opportunities for wrong act, II 1t
should ever be found necessary. still he was con-
ynced that these books were correctly kept and he
would risk his life on their accuracy.
Mr.. KENNEDY said he entirely concurred In the
remarks OF MIR. Phelps
Mr.. CUTTING inquired whether the bonds held on
behalf OF the
were so kept that they could be used for any other
purpose than Quidating the liabilities OF the
Mr.. PHELPS replied that the majority of sucn
bonds were stamped with the ordinary stamp,
Indicating what they were. All OF them, how
nlttee were on the point OF taking action
n this matter their attention was called to the fact
hat these bonds, not stamped, were all registered
bonds and all registered In the name OF the Com
missioner OF the Sinking FUND. There was there,
tore, much less necessity for their being stamped
than II they had been simply coupon bonds. But
The committee, nevertheless, recommended that all
bonds of every kind should be stamped This IS
the property OF the commissioner or the Sinking
Fund.- and the clerk promised that 1t should be
done.
Mr. BOOTH asked for Information in regard to the
debt as at former periods. so as TO ascertain its
COMPARATIVE INCREASE YEAR BY YEAR.
Mr. OSBORN then read the following
ar XryuENT OF City AND COUNTY or
NEW TAKEN FROM
THE ooMPrRoLLER:-
Description Of Deb- Jan. L. 1859. Jan. l. 1870.
Funded city debt. 994,l5s 80 S3,4e9,55s 80
funded county debt H5ls,s00 90 ls35g32l AZ
temporary city debt. 3,lb5S72 30 676S572 80
lily revenue bonds l6469)U 10 l,s4Sl00 90
,ounty bonds, &C., 2,9406OO 90 56f5U0 %
Total. A5 $50 80 x66,040062 ~