New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-01-25
THE FULTON MARKET LEASE.

STRONG OPPOSITION BY SHAREHOLDERS.
TIE obj CTONs STATED BY COUNsEL-THE CITY
ALLEGED TO BE a VERY HEAVY LOSER If IT
GRANTS THE PROPOSED LEASE.
The Commissioners of the Sinking Fund
met Yesterday take action the leasing OF Fulton
Market TO association composed OF a number OF the
Shareholders These represented by John H. Stra-
ham, who moved for an adjournment because Of the alb
of the Recorder He said that there were mum
Der OF legal questions involved and he woua prefer 10
have the Recorder present and pass upon them.
John b. lskin appeared for those standholders who
opposed granting lease 10 private persons pre-
fcrng that the city should retain control He presented
"A petition, signed by fftywo SHAREHOLDERS, protesting
against leasing the market. Mr. Iaskin also submitted
brief containing the points OF the SHAREHOLDERS IN OPP
position TO the proposed lease. He claims that an ora
landmark. such as Is Fulton Market. erected In ISL
and source OF large revenue the city aud furnish
ing business accommodations and means of living TO
large number Of persons, should not be removed or
passed the control OF the city into the hands OF
private without sufficient reasons and careful
deliberation The arguments ho said, presented
in favor OF the proposed lease are five IN number
setting forth that the market cyesOrc that II l. I'M
safe as a structure that unhealthy: that ITS removal
and the substitution Of a markc, would be adVah-
tageous to the Sandwiches; that it would be advan-
tageous TO the city. These arguments. Mr.. Haskln
claimed. plausible but cannot prevail upon proper
examinations The building IL neither unsafe nor I'M
healthy. II built upon foundation three feet from
the ground in the centre The roof Is supported by bch
stone and iron pillars. the former two being thirty
inches square II IL open I'm front, aud Oh tue
sides with forty fifty skyligs FOR light and vcntla
ton. II has two good sewers one on each side
The tmbcis OF The structure are sound n
was shown after the fires ot the past year.
within the past few days separate petitions one
bcifg ~ favor the proposed lease aud tne other
against it, were presented TO sandh ,ldcrs ana not
=
about oignly nty-tw0 protest against the proposed
,a. and have signed the counter petition. The clerk
furnishes figures showing that the amount received
from Shareholders the rate II S253-l 10 Tor the
current year The ccIlar, Al present return NEON"
Of about ~4OO 900 add ona OF the total oi ISL 10
the signcrs Of the protest represent ~ rent S'3sl4
Cnu,no cxrc:irncc has shown That the business once
broken M would De- dI--Ipated beyond recovery ana
would financial rum 10 many or The tenants IN
The past ten year,. mp December 1879. tho average
revenue derived this market ma, Drrn fJ1ii6 an
nullly. The expense Of malut lining 10" mara 80.
clerk rc ccInns etc. ina Hcru from 5000 to $1,000
annual The official prtscd land Na'ir Oi the market
$4,000 Ihr cl has TIE rclurr Tor the pal ten years
received ABOUT - cent Annually ON hT valuation
present ,Npcuitutc OF about $1,000 upon the outside
~ Tie market would put The building IN rosemary
good Tor many years. "a On" eats couId continue
10 net thcIcrom $4,000 O" 3GOUVO per year Hebuld
INK public market, lac COatiuueG. mas proved ilurc
ere E---x Catharne centre aud Jefferson Markets and
tu loss marked degree Iorph'n- Market Al "I these
have been burden 20 the cav rather thth n'itur
Those ST., king he lease p.op"s" rsl to erect biIi-
INK 10 cost not To exceed .-)ooOp Inc tol T'hi7"
rent city and cent ou Oh" cost 81 Tie hnlt
lfas'ldNl" sum Ter tthluG tiit or inc Hdl -
koeuur f clean aud mtkiuc .urnnco and rriar. In
matter ~ the rent OF tire Stands, thr amount ~
-luhIuc fund. winch VII, at per cent interest -' h
annually amount at mo emf 81 the lease 10 The cost or
the building is 10 De c.nidcred Ihe total amount
required To meet al the pfu o,,d caarss s s''uuo
per nuuurf ~ thc ED az Wraty year. thr luAius
fund NJ S2jooOU would belong Ia ~" lcscc-, ana tc
city would ulu Che ru ding or Whatever was rit of De-
This Won have thc city hr difference nci"ru ne
prcscul me- income 90 over 100000 per year sni me
ground rent 81 S2l 600. hciug per yrhr ~-3uo of IN
tWrnty ycat-.W th"ut Interest r'o"O" nahhR
the loss thc taxpaycrs the differ nee between ims
sum and rhr amount paid ny the proposed lc--''" h'h
j. $4,000 TINS los would Dee very hhch ihcr'h4'f
tl, $40 600 annual a. n renee were tO Do annually rGcI-
ted 10 Smiling fund and bear Interest at The ~" oi
p.r cent: 10 would amount Boo she wDny0tc years u
a,rt Il 100 The IrsiI uh.facr exc. cltugiy
crave and n tnr facts given shall not Doe Sufficient Co
defeat the proposed ct-r on the ncii0 tine technical
objections VII De- furnished.
Controller Kelly SAID tlAt Recorder smYth had the
t.urr- ia ts case whtru b 81 been gwen iO MIA Tor
critical examination aud a. was therefore 800 favor ~
an adjournment. and thi- accccdcd To b} the re-
NAMING members.