The New York herald., 1879-12-08

find that in New York city at the last sale flor two
years OF taxes 1869 and 1870. and two years water
rates, 1868 and 1861 the expense OF advertising In
ten papers amounted to s2,63 81, while at the last
sale IN Brooklyn. for one years taxes and water
rates the expense of advertising was .46O may
add that all that collected ON that sale wai
$3.ios G2-the city becoming the purchaser or every
parcel except thirty-hve."
"what class of purchasers invest in tax sales. and
what disposition do they manifest the advisa-
bity for such remedy for the state of Brookiyn's
nnances under the present awY'
only small number of capitalists who have
Haue II special business. strangers ana general
capitalists rarely invest in such sales. have con-
versed or corresponded with all the known pur.
py letter or in person from all of them.I think.
nave H found but two who disposed to invest un-
we shall not again buy property for unpaid taxes.
&C. We do not think It probable that Gny capitalist
taxes before times revive John L. Brower says
am or the opinion that under the present laws and
vacant lots in Brooklyn at tax aud assessment saes
Charles X. Lynde says:-'rhe taxes assessments and
large part OF my money is drawing interest at
only four per cent; but yet would not
buy .,,ods dollars w worth at tax sale until
Real estate owners who arc behind with their taxes
will pay the city as soon as good times again,
and it would be cruelty to them to add to their
present burdens the very great expense OF advertise
ing. Mr.. Benjamin Andrews says:-'The probabilities
as to purchases by capitalists would depend in 3
great measure upon whom the capitalists are. Ie
they were strangers to tax sales and had entire con.
6dSace in the city Of Brooklyn they might be In.
duced to purchase. But if they should purchase
they would find out before long that 1t was an un.
safe and unreliable Investment. one in which the
great. would not under any circumstances be-
come purchaser
AvEnsE TO SUCH INVESTMENTS.
"Mr. A. S. Wheeler. probably the best known pur.
chaser in Brooklyn. says:-I do not think 1t at all
taxes for the following among other reasons:-fn M
conversation with those heretofore engaged in the
business. learn from them that they are averse to
making any moro Investments in that line; and I
should buy very ittle il any. myself. As to getting
capitalists to invest IN the business who unused
to 1t and ignorant OF ITS details. can only Judge
from past experience. Heretofore some few such,
allured by the prospect Of getting fifteen per cent
their capital. made the experiment. but after .
short experience they sold out those the busi-
for less than the COST There s y very large
amount Of property in Brooklyn so heavily encum-
bered by taxes essments and sales that those
cumbrances amount to more than the value Of the
property. The owners considering 1t confscated. IL
what rent they from 1t. but pay taxes. In the
present depressed condition of real estate capitalists
with plenty OF idle capital afraid to invest therein,
aud the publication OF long list of property to be
sold for unpaid taxes. &C., could not but exert still
be wise for the city incur the expense OF uvertis
ing. which must DO paid. whether collected or not
out of the property. Nor would it be prudent in
these times to saddle ten thousand with
tho additional charge OF 81 for each year on each
parcel for advertising which, in very many instances.
IL more than the original tax.
LITTLE GAINED.
From these letters. received some little time
apparent and but little would be gained BY sale At
this time. the city would be the chief purchaser
II pursued tho city will be out Of its treasury nearly
$2O0, in advertising expenses, and will merely add
to the certificates 1t already holds property sold
at atPrevious sales with but triaing receipts from out
..What remedy do you propose?"
'rhere should certainly be general law by which
property coaic DC Ss sno O. orig
value OF the property. But this law should not ap
ply to any property that is OF sufficient value to pay
the liens thereon. The property which Is OF sum.
cient value to pay the liens should be offered for
sale and sold under proper law. to be devised by
the next Legislature; but this should not be re-
sorted to until after the Taxpayers have .
short time, say few months. toe settle
see under propey s%
OF the $l00l8625 q of taxes and assessments in
at the date Of my last annual report several
millions must be lost to the city unless some such
compromise 10 made. Any sums received by COM
promise would be clear gain. and in every case
general provision limiting such compromises to .
certain percentage of tho assessed real value Of
upon the part of the authorized agents of the CITY,
who be salaried officers OF the city, in order
savo the expense OF q commissioner All objections
to such measure must give way on mature con-
sidcrxtion OF tho matter. NO prudent business man
being satisfied that he could collect one-half Of
claim would refuse the same. and am unable to see
why the same practical judgment should not be
ercised in behalf OF q municipal government
PROMPT PAYMENT THE RULE.
"From the interview with Mr.. Kinsea, published
in the HERALD, stranger would infer that Brooklyn
taxpayers unusually delinquent This is not the
The bulk of the taxes every year paid with
remarkable promptness. think the last year.
~ can remember. about two-thirds Of the en-
tire levy paid In little over q month. But OF
course. they are human and they are not likely to
pay more taxes and assessments vacant lot than
the lot is worth.
I'm conclusion" said Mr.. Scott. 81 will give You
idea of the method OF doing things in former
times explanatory Of the manner Of piling up as
sessments. l have in some instances in my
searches found that single lamppost valued 1T not
over $40 has cost the owners OF property 800. In
one instance found that the surveyors fee (which
should not exceed $50) for grading aud paving part
OF street WAS just about equal to the expense Of
the grading and paving. that Is about 81. 500"