New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-07-12
FULTON MARKET TO BE LEASED.

FULTON MARKET TO BE LEASED.
ACTION OF THE SINKING FUND COMMISSIONERS.
The Board OF Sinking Fund Commissioners met IN
the Mayors Office yesterday and considered the
Fulton Market scheme aud the Steam-Heating pro-
iect. The Committee of SHAREHOLDERS OF Fulton
Market appeared with their counsel, John II. Stra-
han, and submitted some amendments to the pro-
posed conditions under which il is proposed to lease
the masl,e; property. The principal conditions are
that the property shall be leased lor term of
twenty-one years. to be used only for market pur-
noses: that the existing building shall be removed
and a new one erected 10 cost $780, the new
building TO become the property of the city at the
expiration of the lease; the new building to be
erected by January l, 1880 and il not done then,
the lessees TO forfeit $4,000. further condition
limits the charges to be asked for stands which are
So arranged that the company cannot realize more
than fixed percentage on its investment. In ac-
cordauce with the opinion of the Cooperation COun
sell an appraisal must first be had aud the lease
must then be advertised under the conditions
adopted. and must be let 10 the highest bidder.
Some discussion arose between the Mayor ana the
Controller as 10 the appraisal. the former contend
ing that II should be Tor rs rental Vaue uhueI thc
Conditions TO be attached, While The Controller
cOutended that II should De appraised Tor Its value
only, if IL were 10 be sold absolutely ne MAYORS
resolutions as to the appraisal were voted down,
the Controller, Recorder and CHAMBERLAIN opposing
him. The Controller then moved thdt ne be allowed
10 order an appraisal of the property and advertise
II be leased for twenty-One years under the con
ditiOus submitted ana report ms action 10 the
Sinking Fund Commission. Several amendments
offered by the Mayor were voted down, when the
Controller moved the previous question: saving
that the Mayor might keep on offering amendments
ali day. he Mayor, as chairman, refused 70 put
the previous question, stating that there was no
rule allowiugit. The Controller cOuteudej that II
YVES legislative body and subject TO the previous
Question. An amendment offered by the Mayor fix
ing the compensation for appraisal at 500 was &C
cepted and the Controllers resolution was adopted
The Controller presented the bills of William
Kennedy for appraislng city property. amounting
10 $3.50 The Mayor refused 10 vote for the pay
ment of the bills, aud the Recorder also voted no.
After the Controller had talked for some time with
him, the Recorder Changed his vote, and the bills
were passed.
TIE Controller then presented the contract 10 be
entered. into with the SpinOla STRENGTHENING
scheme, and asked vote ordering It's execution.
Tie Mayor, who has opposed the scheme ali along,
voted against executing the contract, Recorder
Uackett also voted against II, which temporarily
defeated 10. The Mayor promptly moved That the
Board adjourn, and no one opposing, he declared
fhe motion carried and left the room. Controller
Kcllv did not notice the adjournment, but mmedi-
nteV began an eudeavOr to get Recorder Hackett
10 change his vote. When the Recorder finally con-
secuted 10 do so IL was found that the Board had
adjourned.
Hugh n. Beers and r. W. Wentworth, Of the
Council Of Political Reform. appeared before the
Commission to make protest against the leasing
Fulton Market, preferTing that IL be sold outright
A. they were too late yesterday they agreed 10 pre-
sent their views az future meeting.