The New York herald., 1875-10-16

tics we'll defined antaRonsm TO wha' is called the
Roman Catholic attitude toward the com non schools,
Is hard al work.
There is one interest however which all Of these
parties and parts OF parties seem 70 be IN perfect har
mony, and that is touching the
LAND TAX,
behind which, II Is confidently believed mammoth
swindling Of the entire city is ensconced.
The assessment for the Prospect Park lands Is
SO 234 600 This assessment Is levied the first twelve,
the Twentieth to and including the Twentylfth wards,
or, az Is better known the Western Fire District OF
Brooklyn. For this 50, 234, 900 bonds were issued,
$1,000 900 at six per cent interest annually and the re-
naming millions at seven per cent These bonds are
payable as Ollows:-Not single dollar Of the principal
is due until the year 1915, and then only portion,
the remainder running on through The years 1910 70
1924
Now while the first bond does not mature until the
1915 the real estate Of the district s levied upon
for the debt after the bonds representing IL are
issued Already there has been an assessment laid for
about 81 $780, 900, which, II is paid into the
sinking fund will commence compromising for SO the
law requires and VIII continue compromising, as will
the remaining Millions until the year 1915, and even
then only the FIRST nstalment OF the bonds Will be
liqudated, the remaining millions in the fund con
tnuing at compound interest," in accordance with the
law, until the last bond shall have been paid in
YEAR 1924
The sinking fund, into which the money collected
om the property holders OF the district s placed Is
so organized in its management that the money
ceved IS "et out" again not for the payment Of the
debt for which 1t has been collected but for United
States bonds bonds Of the State OF New York and Of
tho city OF Brooklyn The law also provides thar the
interest on the than 80 600 600 shall be collected
u
additional nfty per cent is TO be levied Tor, and
the city authorities by the law in reference 10
Prospect Park are TO balance Of So 3i 000 for
the Improvement and establishment OF the Park upon
the district at large IL is fair TO suppose that in i've
years time there will be So 600 600 in the sink
ing fund, and at compound interest there to remain
for thrtyfve years, at the end Of which time the first
bond will mature-namely, In 1915.
WHO ~ TO SPECULATE on THIS PRIScELY FoRruNBY
That the sum named will pass to the control Of the
sinking fund and from the sinking fund TO such Of the
banks as may be IN the favor Of those control the
fund.- is as certain that taxes taxes and that they
IN the end 10 be collected that the prop
erty taxed can be sold for the amount which the Com
mssioners levy upon IT,
These are the points which now commanding the
closest attention OF the Intelligent of the prop
erty owners Of the city Of Brooklyn, and the dccara
tion made to the reporter of the HERALD by the prom
nent business men from whom the facts figures and
estimates received that before the close of
the present election campaign there will be such an
exposition of the nefarious methods by which taxes
and assessments have been levied collected and used,
will cause the people wonder, not that ttxaon
and assessments in Brooklyn are together fully four
per cent, but that they are not even now, far more
than