New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-08-09
JERSEY CITY EMBARRASSMENTS.
A PORTION OF THE PUBLIC SERVANTS PAID BY
MEANS or THE TEMPORARY LoAN-THE CITY's

A PORTION OF THE PUBLIC SERVANTS PAID BY
MEANS or THE TEMPORARY LoAN-THE CITY's
LIABILITIES AND ASSETS.
The announcement that the Jersey City
Board Of Finance had negotiated loan Of s3O1 900 with
the Continental National Bank of tins city for rs days.
by deposung city bond for $500 upon agreement
that the debt shall be cancelled II the bank succeeds In
selling the bond within the period specified, has drawn
attention TO the financial condition Of that city, The
deficiencies Aug. amounted to SS9l0OO. and the loan
will enable the city to pay all of them. except the
$4,000 water accounts, which by law must be paid
by the proceeds Of the sale OF water bonds There VIII
then be surplus Of 100000 in the treasury. according
20 the Controllers estimate. portion OF the loan ne
gotiated Thursday paid yesterday into the hud
son County Bank, aud Mayor o'Neill signed warrants
for payment of all claims on the general account up
10 June Is for all salaries OF school teachers remaining
unpaid and for the payment Of the Police and Fire De
partments mp TO July 10.
The liabilities Of the city according TO the statemeub VI
the President OF the Board Of Finance. amount 10
sI2473727 tn which included certificates lssueu "
contractors In anticipation OF the collection OF asses
ments s1s4652; the Water Bonded Debt, siO5sOo; ana
the General and Improvement BondediDebt S'2eS2'e;
CITY Bonds held for retirement by the Sinking Fund
Commissioners, and amounting to more than S2OOooo'
being deducted. The assets amount to $1l9,526'4'
the largest item being the Street and sewer
Assessments 3S9261s 81 The corporation real estate is
exceeded 100000 The assessments due on improve
ments the township Of Greenville amount 10 s2oo9
The average of taxes amount TO 76,90I 81 Inc cash
balance the sinking fund, which accrues from license
fees and fines. and only DO used to hquidate the
bonded debt, is $33882 As. - . - -
The assessed valuation Of Jersey City In 1872 was
s6Sl96Sj5. Tax collector Love says that taX-roI r
volving s17sOCO, will take place in August %. Inc
great OF financial embarrassment Is the failure 70
collect street and sewer assessments OI tnose low
due have been confirmed, the greater part De-
ing on sewers within the old Bergen City limits con-
tracts for which issued just before its union win
Jersey City. The officials find 1T difficult TO ENFORCE the
payment Of these assessments. Another thing which
has crippled the city has been the construction OF te
aqueduct from the reservoir at Bellve TO Bergen l'
and the distributing reservoir at the latter point
The water bonds by which money was to have been
raised these works have not met with ready SAFE
The Hudson County Tax Commission, consisting OF
G. ID. Van Reypew. Ii. f. Clark, +. d. EdmOnstOn Jonh
Morgan, and Daniel Van Wrinkle. appointed ~ the
Circuit Court under law Of last Winter concluded us
work yesterday The organization was ELECTED on uhe
q and July daily meetings 10 hear appeals nave
been held during which time 444 have been heard
involving s2S wort Of property OF these, III were
affirmed and 273 reduced The valuation is as follows
for he