The sun., 1878-08-31
Nru ronk's rINtyuiL CONDITION.
Comptroller kcli,'- Predictions In hi. AnnunI
Mcport " hat the Nltl owe.

Comptroller Kelly made yesterday the
annual report Of the financial condition Of the
city. required To- hc published two months be-
fore the annual election. Tire report shows
that on the let inst the total bonded doht of the
city. lo-s ihc sinking fund WIS sl27.7O2 4iG.2
being decrease of 81 3ol .ji5.oS from Aug l..
1877. Tables are appended to the report which
STOW That the total umoum, Of assessed yalua-
tious of real and personal "stitr in this year ia
s2.lW 3ls less than in 1877. aud that. while in
the last three years IN" walnut uns of real estate
huv' increased s. jGs G-i and tlrsc on per
sonI ,-tatc Of r. dents sG2o 500. tho Valuations
ot uou-rrsidruts' personal property have de-
"rrnsod sl7j~ i27. and of bank shareholders.
slN9Gj.7g7. This decrease in valuations of
bank shareholders. Mr.. Kelly says is attributed
hy tn" Tax Commissioners 20 the reduction Il
the capital II some banks and the abandon
ment oi business hy others. OF the proposed
rounding az the ciiy drh, MIR. Kelly says: An
important nneural measure was passed at tho
last c'sion of the Legislature, relating 10 the
non1cl d.it of the city. \ lnrge lmrt II this
d"N r p.vaIlr from ihNes 10 bc lrvi"l when III"
iOiui- 'Hli duo. under tG" provisions ~ the acts
Huih. ~ u.clr .s-u" Large uuuuuis of out
stand u. bonds 90 this ri s-. whi n frll Due an
nu.tiy for twenty years io come. would impose.
in som" years an onfrnus burden upon III .
taNtnVrrs. iy iOls at the Commissioners II
thr sinking Fund nr" emp werod io author -
ih" issue ot con. oliintrd Stock oi the City of
Now \ l'rk. payallr from tlln sinking fund. az a
rui' ~ interest not "rdius. ily" per cent per
fnuun. fo provide for tho payment nt a pari -
the bonds nuyatlr from taxation when they uc-
como GuN. So iuHf thr amount tn poe raised 10y
tHN snail not IN any ono ynyr h" less than the
sum oi on" mltlun dollars. nor mntr than two
mutton dollars. Next YEAR th" bonds falling
uu", which Ar" uuVHlI" from taxation. amount
in nearly Si.jN un. Int nnf moro than 81 rlO. 30
V'u can he rails hy tax in thnt ycnr Within the
Il liS'r''iiou ui the tnmmi-s touf r. oi tho Snking
Fund; Tia" remainder viii h' refunded IN Con-
~uhdAt"l Nip X Nor" than tom million dollars
Of bonds puyntlr from taxation tail due in som.
years. BY thus rounding a part II the AN ouni
- ond- falling du" that are payable hy avs
from taxation. ia" taxpayers viii bc relieved oi
rNrr-stV" tnN"S IN any one year.
Ih' Comptroller believes that this financial
ma assure wi up"rt" us hu til' 'tuul restriction
upon hcm'~ for spending the public none,
i"r purposes other than To - required hy IL,
pu'lir interests.
: pqri ~ m. report is devoted to the Brook lvr
Hrtier. Mr. Kelly shows that thus city nns paid
~ nol toward its consfruction. and that the
amount Of bonds author 2.d hut not yet issued
inr ne uur pos" under chapter 800 of the Laws o
lSfj j. - 1876 i66 66. He hs.li.vcs that the sun
proyd Il hy law for the completion oi the brldg,
j. Insufficient. and that further lep elaiiOn q
provide additional means Will b. required
l'st gu'- -tion~ are now pond M IN regard q
thr cou-fru. .tiou II I'm" fridge lie has there
{ .r. iet"rnin'd 20 withhold further issne- o
hr .'sr h0ui- until those % l'siinu@ arc Srit.tl.
Mr., krlly tt.d = tiiut the tax lryy this yoai
wi. l. 81 i7Nni .2u l.-- than uUr levy IL Ms
N"ar. AMI that flr rat" of tax viii br rcdtl .,.,
from 2.G5 To 2.55 per cont.