New-York tribune., 1878-06-28

necial attention Is called by the commissioners to the
decrease Of the amount assessed against bank share
holders which caused by the reduction OF the capital
of nine banks 81 OOO and the abandonment Of bust
ness by another bank with 100000 capital In cOnnec
tou with this reduction they call attention to portion
of their quarterly report for December 1876, in which
thew predicted that the decision OF the Court of Appeals
shle hank assets OF 127 would result IN the
1cton OF bank capital, and that thus not only would
active capital would be Withdrawn IRON use;
The report continues: 1T s with profound regret that
the commissioners present. in this report figures which
Justify the apprehensiOns expressed year ana nall
ago That an Increase In the assessed value OF Ia estate
should while the assessed value OF personal prop
ery declined, Is result in part OF the operation OF
Condition Of trade The value Of new buildings
and improvements in 1877 exceeded Sl6,OOO,OOO
MAR All 100000 worth Of personal property has
been converted into S16000,O00 worth Of real estate
were POSSIBLE TO reach for taxation all the personal
nsrt se Changed in ITS USE the report should show
increase OF 100000 in the assessed value Of real es-
assessed value Of personal estate. Ordinarily as In
former flush times the diversion OF personal 10 real
RE business and traffic OF the year. But at
Urese1t the balance is, for the most part, upon
tbe wrong side Of the lcdger-an accumulation
losses rather than profits While It Is true that he
S16OOOOOO Of additional real estate is the product OF
me Investment OF similar sum OF personal property,
n Is also true that considerable portion OF TINS sum s
obtaned from institutions whose assets are not SUBJECT
toaxation by law from the proceeds OF exempt Sc
eutes such as United states bonds, OF other similar
Tue report adds that similar causes have caused similar
effects ia Baltimore. ,..
he eclne in the proceeds OF the assessments hes not
however been as large in proportion as the Oece ia
fhe valuation "The largest amount OF assessmenlh
e1iIectcd was S265 600 600 in 1870 For 1876 taxes
ectsd po1 600 decline OF S55 O0O
600 or N per cent which is OF course much less thaI
the average decline IN the value of such personal
1roperfy as Is subject 10 taxation under the
grossly defective laws Of this state The eouectOn OF
tbe personal taxes 1877 Is not yet completed Du
is 40 Tar advanced az TO make IL probable thai
fbe collection will approximate very nearly 70 the gross
sssessment This Improvement IN administration mas
ien tbe result OF very great pains In this department
In rho elimination Of worthless names, ana OF increased
energy in the collecting officers"
HOPES OF PROSPERITY.
The report concludes as follows:
"Tbe outlook for the immediate future In general
business Is perhaps, more hopeful than at simial
rerod last year The aggregate imports and exports
from the port OF NewYOrk show a gr8uiylpR increase
over those OF 1877 The exports exclusive OF specie
have never been equaed except in single year-lo!9
In the export Of breadstus, heS-HOrk has tae gealy
beblud but Ia other staples, such as PROVISIONS anu
petf0eum, the increase has been enormous. -.
ID financial policy shall be settled ana adhered "
IL the possibilities of the city shall be clearly dibeerne0
and wisely developed; II distrust shall be displaced ~
couhdence aud gloom by hope; II the claims OF the CITY
Tor the amehOFatOn Of obstructive legislation sha Dt
recoguized and II iudeiOus economy shall be enforced
fn city administration every interest ncirded IN the
designations real and personal win feel the impulse
Ard long years Of prosperity viii leave the memory o.
fhe depression OF the current ulnes as uaduoh Oi
0suetful authenticity"