The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-02-22
THE SINKING FUND COMMISSION.

| suPernuDus City Funds-Tsxation Re-
duced $500, OO0-Courtiand Palmer and
MIR. Bieecker's Ciaims-stOpping the
Contributions or City Funds to Re-
ligious and Charitable Objects.
A meeting OF the above Commission was held
yesterday in the Comptroller's Office, the Mayor In
| the chair. Plesent-CompIroller Green, Recorder
Hackett and Alderman Van Setback.
THE WATER FRONT QUESTION.
report was received from the Chairman OF the
Finance Committee OF the Board Of Aldermen in
reference to offer OF $500 for water front at the
foot OF Summit street. Brooklyn, and the recon-
nendation OF the Comptroller at the last meeting
was recommended to be adopted and the title
given to the applicants for the sum named.
APPLICATION FROM PETER COOPER.
An application from Peter Cooper Tor the con-
sent OF the Commission to the requirement OF q
water right on l13th Hath streets was referred
to the Corporation Counsel.
AN ovERPLUs OF CITY FUNDS.
The COMPTROLLER submitted the following reso.
lution:-
Palmer, Chamberlain, Tor the sum OF $4,000 TO be
sharged 70 the sinking fund for payment o. interest
city fund for the year 1872 and carried 70 ,he general
fund OF the city, in conformity OF chapter 1885, Laws 1867
The COMPTROLLER said that there were two sink
ing funds-one for paying the interest and another
Tor paying the principaHand there was an accu-
mutation OF money, more than was necessary to
meet the interest, and which could be appropriated
for the purposes OF reducing taxation, and this
amount would reduce taxation ior the year 1873.
The surplus had come from the collection OF
market rents.
The resolution was adopted.
MONEY FOR THE DEPARTMENT OF DOCKS
The COMpTROLLER moved u resolution recon-
mending the payment OF s65,457, amount OF bills
submitted by the Department OF Docks. which was
THE VALUATION OF THE CITY PROPERTY.
| Recorder HACKETT stated that he had been
spoken to by Mr.. CORTLAND Palmer in reference to
his charge Tor the valuation OF property belonging
'as anu walSn ns v WSa M anu
Ex-Comptr0ller Connolly. He said That Mr.. Palmer
had suffered badly by the work. stroke OF paraly-
sis had been superinduced, ana he had had to go
Europe to recruit his health. He had not only not
received dollar OF remuneration, but he had been
| sued by those employed by him on this business
The COMPTROLLER detailed the circumstances
| connected with the employment OF the vauers. and
said that there was demand Of $50, 600 by Ar.
made about $l50,O00. The Isatter had blen re-
| ported to him for adjustment and he had recon-
each OF the vauers, and that the bill Of the experts
and all the other persons employed be paid. The
trouble about this recommendation was that there
was no money TO pay it with. The Sinking Fund
Commission had no resources for this purpose.
There was an act before the Legislature that would
enable the Mayor to pay 1t, and he deemed 1t ad
| visable to await that action.
Recorder HACXErr suggested that the amount OF
| remuneration be $4,000 each.
| Alderman VAN SCHAICK said it was hardly worth
| while discussing II, as there was money to pay
| It, That valuation was made to bolster up men
| who were stealing millions OF dollars month. No
| other city in the world had had its parks valued
| for the purpose OF sustaining its credit abroad
| The bonds that were then Negotiated by Mr.. Sands
| could have been sold for two per cent more than
| was got Tor them All those valuers were rich
| men, and he should oppose their receiving more
than the Comptroller had named. The matter was
| laid over
TIE LADIES' UNION AID SOCIETY.
| The MAYOR brought up the application of the
LADIES' Union Aid Society for q piece OF land to
build hsme upon. Legislative power had beer
given to the Commission Tor this, and it had Deen
| made available in five SIX instances. There was
| Alderman VAN setback said that inasmuch as he
was not candidate for any office, and did not
pect to be, he should vote against the apprOpria-
ton OF any money for any benevolent or charitable
object He objected to 1t OH principle, and did not
care where the application came from. Ii the
| ity wanted $3.50 or $500 he would give 1t to them,
| but he would not vote the city money away.
Recorder HACKETT said that he thoroughly con-
| Cured In what the chairman of the Finance Com
| mittee OF the Board OF Aldermen had said The
multitude Of applications Of this character would
leave the city without dollar in the treasury
| II all were to be satisfied.
| Mayor HAvEMEYER said he should concur in the
opinion of the two gentlemen II the resolution were
an original one, but it had become the practice and
these ladies had assumed responsibilities on the
| strength OF recent legislation.
| The matter YVES laid over, and the Commission
| adjourned.