The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-02-01

improvements tailed to trly thrIr ass 'sstnrnts
lromptlv. Then the uroplu began to look closely
ulnu ~ 10 gan To lade before tho htalt TIM, facts
In 1870 tle taxpayers appealed to the Com.
m Council To orn. go the further extension of
sircct improvements. hut the Wood Pavement
lunG was too rich and powerful for the pc,plc
II is said that trey and In" Mutual Benefit liza
Insurance Company of Newark controlled tho
nie"uun and appointment ot the ctv ofllrrrs.
ihn hins finally went to the Legislature In
mat uroi"ry owners owning tho minority VI
ilhrnl feet ON n street or avenue could have unv
KIND OF pavement they desired. Mr.. John
ran, tx Speaker of the Ass mNly. WIS elected
To the Common Council in 1871, and h. i'm mo
dlat"ly attacked the wool paycm'nt monopoly
80 vigorously that the Ring became alarmed
Ihcy rcsorted To desperate means 10 crush out
tnc opposition rising Mninst them, tut tho
people rnll Jed to the support of the Aldermen
VII" hattlod against the Ring. and the Common
council hnally resolved 10 give out no moro
some ~ them ns late MS 1874.
H. 1872 the Republican majority in the Coun-
III won't To the Legislature and Comptroller
hin was passed. Their auology for this act was
tAat y was necessary to throw additional safe
lrullcr was appointed with SALARY Of "a O0da
Year. md the annual expenditure ~ hs ofiirG
inr clerks; &c, aggregat"d about $4,000, Tho
financial department OF tho city had previously
been well managed blythe city Treasurer. whose
SALARY was 81 800 q year. Under the COmptrol-
Ter hill five Sinking Fund Commissioners
were appointed tn sell bonds and keep an eva
on the city finances
The taxpayers soon began to pay tho penalty
OF permitting the spectators to run the city in
their own interests. The taN rate WIS Increased
annually. The nsseesmcnis on improved prop
erty, which were To bc paid in five years. wcrs
not half paid up. and tho city was. therefore,
compelled to apply to the Legislature in 1915
Tor u further extension of ten wears in which to
pay tho bonds. Tho Legislature uave the INV
the required authority. and authorized II to
issue what was known "a consolidated Improve
ment bonds. in which the whole street improve
ment debt WIS included. In 1876 the property
owners resisted the payment Of tho ASSESS
mcnis levied on property benefited 10y d. wood
property WIS not benefited to the fun amount
nss'sssd. Inc ease WIS carried mp. and tho
supreme Court set aside the assessments US
illegal.
The cost Of tho cxtravagant Improvement
WINS. therefore. reassessei upon the city at
The Nicoson Pavement Ring did no, pay
their nssrssment They permitledthc property.
on which they had paid only trinng sum in
cash, to fall into the hands oi tho holders Of the
mortgages ON the property. The latter. unding
that the assessments often amounted To moro
than tho property was worth. let the city con-
domn the property. and sell il, II possible for
III" unpaid assessments In This wny 4 OO1
acres or nearly one-thirl Of tho area OF the
city. has been confls catrd by taxes and assess-
mems. Those who had paid their assessments
has already been paid back to them in cash out
oi me city treasury, Tho total amount Of the
city has swrlicd the city debt tb over 81 OuO 600
en- property valuation Of only sl4. 400. 900.
=. In the beginning Of 1877 the Legislature au-
thorH"d the city To crente Il now series ~ bonds
10 be used Ia raise money To pay the interest on
the old bonds. thereby increasing the bonded
ludcOtcdntss DIR. James :. Green was elected
Mayor by the Democrats and Taxpayers In tho
ftll oi 1877. on the cry Of economy and re-
trenchmrut ON demsnd for an Investigation
into the financial condition OF the city. Mayor
Grcan appointed "a committee II citiz,ns 10 ok
anime the Compiruier's Department. The city
VH.a.N a. INN
Green did not. To- the disappointnrnt " MANY
appoint a new Comptrollcr. II Is said that the
large bontholdrrs wanted Comptroller I.gg4tt
T. tanned. becnus" he WIS prompt IN payinR tho
interest," on the bonds and taking up the bonds
when they mmured, Mayor Green recom-
ih"hued mat hpphcHtion %" mad" 20 tho LngIs-
lttufc Tor an equalization % taxes between
,ne, eny ana TTauntyt but ne Council
roIt "a denomination. H. understood the con-
dliinu 90 the city aud wanted 70 be- ont % the
way when the crash came. He was recently
gong man. who. with Comptroller leggeit. has
gnirrwrl the Mutual Benefit Life. the Equitable
70 accept reduction II the rate OF interest on
the city bonds The Mutual Benefit is under
si"' To- T." opp0 Sius siN per cent interest IN
i!ir New Jersey Lr-is latHrs now. So that II ID
pam mat TIE cib ~ Elizabeth could gct no re-
NJ iu that quarter
II the Common Council can organize at once
nhl mats their estimates for the appropria-
tlot~ Tor 10" year then the city can raise money
~ amt 'fuHfion nj taxes. but not other,v Sc
Should the Council or cty onl ,rrs raise one
dollar IN "Ncrss " III" appropriations. or ISSUE
/ obligations IA advance of AN arprorratlon
thy Will d. liable 10 an ind Ictmeut
Tho annual interest on the city'- debt nm UNITS
/ T. Si2ouo1 The annual expenses of the rity
Government nui Tor state and county taXes
/ Aggregate s21OnO0 which sw.ls the amount
/ Co. 10" raised oy taN annually to s7p0.u0o % nay
/ interest .u ''ty d"hL pty county aud State
/ laN''s and city expense. Only t1l5.OOO was Put
/ in the tax levy OF 1875 for interest which IL
/ only a little over haif ~ the interest on tho
/ debt, leaving s2lu.p0O deficiency uuproN ied
T iHr On %" 5000 acres OF property abandon a
4 ny the owners no taxes can he raised hereafter.
/ The total valuation 81 the city is fli 900 900.
and the rat" % taxation this year 1886 per 500.
I ant on that the city has thus lar collected only
t3hulu. The amount needed 20 be- raised IL
500 900. and to do thus u ulN 81 7 per cent. must
/ be- added, whrh Is moro tnan the average IN
| come on property
! The Comm Council met again last evaning.
| but failed 70 organize. the vote at every ballot
| being to Z.
The FL zabethtown Savings Institution passed
| into the hands Of than -ellor kunynn yesterday.
on motion made by Award and Parrot. The
Suspension was caused ia part hy inability 10
rea.izr on the Elizabeth city bonds which form
pant OF the bank > assets.