New-York tribune., 1873-03-14
MARKET REFORM.
No OBJECTIONS OFFERED TO THE LEASE OF
WASHINGTON MARKET TO THE MARKETMEN
HANDSOME STRUCTURES TO BE ERECTED
nE THE pREeENT SITE.

NO OBJECTIONS OFFERED TO THE LEASE OF
WASHINGTON MARKET TO THE MARKETMEN
HANDSOME STRUCTURES TO BE ERECTED
ON THE PRESENT SITE.
The ricketty, tumble ro0keries known
as Washington and West Washington Markets, perhaps
may he speedily done away with. The Assembly Com
mittoe on Cities ITO whom the matter Of leasing the
property the Washington Market Association was re
fered gave notice. few days since, Of their desire 10
hear objections Wednesday the last day appointed
for the hearing opponents of the scheme No once
tions however, made, and the Committee VIII re
port in favor OF the bills becoming law Inc Dill Is
entitled An act to authorize the leasing OF certain real
estate belonging to the corporation OF the City OF New
York II authorizes and directs the Commissioners OF
the Sinking Fund Of this city, within SIX months al'e
the passage OF the act. TO lease Tor term
Of u wears with covenants OF two renewals, the lands
and teneInents owned by the Corporation bounded on
the north by Veseyst the east by Washlngton-s Oh
the south by Fuon-st. and on the west by West-st,
known "a washington Market; and also the lands aud
tenemcnts bounded the east by Wests on the horl
by Veseys pier the south bylDey pier, and on the
vest nv the outside pier line, as established by the
Dock Commissioners and known as West Washington
Market"
Nv the terms OF the act board OF three appraisers Is
10 he apponted within 80 days after IT'S passage Ihese
appraisers are to OF known prooy and OF sood
business qualifications and are to be such as have no
i,,erest exoept as citizens in the purchase. They will
tako an oath before entering on their duties, and
are 10 he paid for their services out OF the
city treasury The appraisers Will be appointed as
follows: The Board Of Commissioners OF the SlnKlnR
Fund will. writing nominate one; the trustees ana
directors Of the Washington Market Company, asso
ciaon composed of marketmen ana those owning sahus
in the markets are to nominate another also in wiring
Tho two thus selected shall choose the third Any va
cancv which NAV occur is to be filled IN the same man
ner as the original appointment was made AS soon as
the choice OF the is Completed the Board Is TO be
considered appointed. Within thirty days from TINS
time they will make out the report signed and yerined
in the presence OF notary, TO the valuation Of tho
interest which the corporation has in Washington and
West Washington Markets. As soon as the report bas
been cd the Commissioners Of the Sinking Fund are to
lease The property at rent equivalent 10 seven per
cent OF s appraised valuation provided that the prop
ery shall be used for market purposes, for ten years
and that the essecs SHALL within three years erect on
| the site permanent structures ana DmIlhss' smtaoe
| aud proper for market purposes
The leasing is subject to the approval Of The Com
misoners Of the sinking Fund. 1hc bill further pro
vdes that within months preceding the time of re-
newal new appraisal Of the property shall be made In
the same way as at first the rent being again seven per
cent OF the appraised value. The income from the lease
of the properly is to he applied to the credit OF the
sinking fund The first option IS given to the Washing
ton Market Company # this body refuses or neg
ec 10 take the premises these terms they are TO be
let 10 others The city reserves the right OF purchasing
hack the property al the expiration OF the Gj years after
paving the proper value OF the buildings erected by the
! lesSces.
The Washington Market Company purpose, II the bill
becomes law to the site Of the present dhap
idated structures handsome eddces containing, IN add
| tion TO the usual features Of such establishments
library and reading perhaps even lecture hal.
They propose 10 make market ornament instead
Of as at present disgrace 10 the city, The new market
| when completed. will do away with the stands ana
booths obstructing the thOrOughfares Of Fulton, Nesey
| and Wessis. The enormous business transacted AZ
these downtown markets amounting to nearly II not
| 0nite hundred million of dollars per annum, needs
greater accommodations than II present possesses,
and these il believed will be afforded tby the proposed
change Col De Voc superintendent ofMarkets speaks
very highly OF the scheme which he thinks VIII accom-
| psh much more than would he done wero the city 10
/ ,iuh herfak in do il.