New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-10-09
.JFRSEY CITY FINANCES.

To me Fditor Of The tribune.
SIN. AS there seems to be a general lack
OF correct information regarding the hnahcai cohu'o
Of Jersey CITY at the present time, bref statement
may serve the interests OF all concerned On the ON "
Apri last when the present Board OF Finance came io
Office the amount In the CITY treasury was '-'i''
,9 9 was overdue IN bonds with interests SO that the
,rcssprv was virtually empty. Besides, there were
hen overduo Improvement certificates OF $li652'
From, An To Sent &c the Board OF Finance have raised
and Maid of slsI3s3 Of which $67730 was on water ac
count On Sent &c the treasury contained balance OF
crdt on general account OF s5si5; assessment ac
count s22o1O; and on sinking fund, S23S2s The to'A
actual increase Of the bonded debt OF The city since
Controllers books showed that from April to sept 10
there was received at the cry treasury ;so,tou a
pad out, SS4l,5e5 leaving balance IN the 4isasu3 -
sIF8S OF the wi ole sum paid out On general account
only 2Os 300 has beer incurred ~ debt since the pres
ont BOARD of Finance came into Office. Tue former
pnard left debt OF over S653ODo. From April
% Sept lG the receipts from l1i sie Oh lmlroHemTut'
bonds were $iy93 and from collection OF assessment,
s17o3yi making total OF SiG,3I HE disbursements
during the same period were; Pmd Improvement Ger
tiheaies $l0 $50 paid interest on assessment DonS
clTf c9G maid cash Tor street and sewer improvements
SiiS S making in round numbers, sO097 and leaving
balance on hand OF s22OO). There Is still due to the
civ over $4,000 90 on asst ssncut account.
Here the state OF the ekug und OF The city rom
Anil 10 sept Balance April l. S&js22 &c receipts
rom ccnses lines fees DC, $2957l 19otal, 5C9j %
usid bonds MAY 20 date sl3JJ; Ddduee Oh baAd, ga
s5s o. Since &pril there has been paid on water
coulit-dlsbuIsements Tor permanent improvements,
S73Qf9 II for interest on water debt, H2J4J9 a; Tor
crreut ypenscs S1tGi % making total of 9736 49,
From wafer account there has been received INTO the
tv Treasury since April $3.50 0)0 equal 20 "a per cent
on Tie total cost OF The water works 90 date.
e On Ami the bonded debt Of the city was: General
and assessment. $l2I16-O; wafer, $J,746OO0-tOtal,
sICqC8C2O: Increased 10y sale Of improvement bonds
Sl37 600; Increased by sale OF water bonds S}37O-
total k1l7G2l Bonds paid since April To sept. 10 ::
General and assessment, sGn645 water bonds, $1,000
total bonded debt OF the city, $u332 $40. IL may he
observed that OF the sl935 increase Of bouded debt
s337 900 was on account OF permanent water improve
Tie next thing TO look at is the Indebtedness on i'm
movement certificates under the Five Years" law. On
April there WAS <lli 652, on Aug there was
overdue a4Ol G52. and 10y 80 the amount had ln-
creased 10 StOC5Z, and by the 1t OF September 1874
there will be further OF SC zoe due, making total
OF Improvement cer lcdtes past and falling due, OF
81 246652 Against this there is already $4,000 III the
OF $4,000 month. The BO.rd Of Finance and Taxation
propose 10 fund by substituting bonds paying the same
rate ~ interest The temporary loan account on April
was 100000; from Aprl 70 sept &c, $4,000 making
a total OF $4,000 Of tins, SlCaC0 has been paid leaV
$425O10 duetha Is S125 coo 10 the Hudson County
Bank and $4,000 TO tine Continental Bank TINS
exhibit OF the finances OF Jersey CITY Is complete ana
correct. The interest falling due on the city bonds has
paid promptly. the members OF tine Board or III
nance aud Taxation well known TO the people ana
have their confidence. They considered careful,
that should be lees embarrassed financially; but foes
within and absurd msreprescnfatiO outside have
temporarily delayed the Board Of Finance in negotat-
ing dIspOsing OF bonds that every czens real
estate Is pledged 10 redeem. HUGH /. MCDkRdOIL
.|eFSey GU, Oct Z. 1873