The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-09-04
COMMISSIONERS OF THE SINKING FUND

A Seventh Regiment Armory Provided
For-Thc City Securities On Hand.
At eleven O'Clock yesterday morning the hour
appointed for the meeting Of the Sinking Fund
Commissioners, quorum was found present. con-
sistng OF Mayor Havemeyer, Chairman, Comp
troller Green, Chamberlain Lane and HIS Honor
Recorder Hackett. The venerable Mr.. Dyckman
Secretary OF the Commission, was on hand with
his usual pile OF documents After Iarly organic
ing the Comptroller onered resolution leasing
to the Seventh regiment the plot OF ground located
between Sixy-sixth and Sixty-seventh Streets
and Fourth and Lexington avenues for twenty.
one years, at the nominal rent Of 81 per annum.
This, the Comptroller SAID, must be done, in com.
phance with the law passed last winter by the
Legislature, requiring the Commissioners OF the
Sinking Fund to pass this measure.
The Mayor said that he felt disposed to give
every facility to the seventh regiment; but the
citizens should respond to the wants of the
militia, and he did not see how the Legislature
could give away ground without consulting the
citizens. However, as this law was mandatory he
saw no other way than to vote for It.
The Comptroller stated that the Sinking Fund
Commissioners demonstrated against the passage
OF TINS law last winter, yet In spite thereon 1t was
enacted. he had the property which the Com
mssioners were now called upon to give away ap-
Sa46, 600.
Recorder Hackett conceded with HIS Honor the
Mayor.
MI. Havemeyer did not think that members from
the country districts, who are not taxpayers OF
this city, should be Entrusted with giving away
property at their pleasure What do members OF
Assembly from Cnautauqua or St Lawrence coun-
ties know about our landsY The best thing per-
haps that could be done was for the Sinking Fund
Commit ssiOners to ask OF the people OF this city
have the legislature dispose OF all our lands,
which would save US great deal OF trouble, and
we would have no further need Of any city govern
ment
The resolution was unanimously adopted.
Chamberlain Lane submitted the following
port OF his examination OF the city securities held
by the Commission IN trust
on the III day Of July 1914 to examine the sec urlties
leave to report that he has made the examination d.
rected and finds that on the LIST day of July 1874 there
in the hands OF the Commissioners OF the Sinking
Fund the following securities
Stocks and bonds issued by the county Of
Stock and bonds issued by the city of New
YORK III Wl, H5 ii
Also cash on deposit in the Merchants National Bank
t. the credit Of The said for the redemp
sum OF $26 25S 1856 II
Respectfully submitted, GEORGE w. LANE.
NEw YORK, Sept z, 1874.
resolution was adopted to lease the franchise
OF running a ferry from the loot of Grand street,
New YORK, to the foot Of Grand street. Brooklyn,
f. D., Tor a term OF five years. from September Is.
for the pier and wharf property belonging to the
city. The minimum bid which would be accepted,
must be at least two and nalf per cent OF the
gross receipts Tor erriage received at each ferry.
The Comptroller was authorized TO advertise this
franchise in the CITY Record and i've other news
papers.
the Common Council TO pass an ordinance to alter
mtted by the superintendent OF Markets. After
which the Commissioners adjourned.