New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-02-27
1n,s srorn liabilities .................. 30l.255

Total. SI l,Sil,0uV
Perhaps onefourth OF the unpaid assessments eau
ever got. They represent gcod uany properties
which have been virtually abandoned aud which would
realize nothing IL put for sale Only portion VI tho
tax arrears unpaid for five years Is coectabe
and the city bonds necessarily lew market
price Last year only S5422l was paid on account OF
assessments ana amount only paid on the de-
preciaed bonds the city, which accepted ar their
face value. About 100000 is due with interest for
wooden pavemvbts which are now rapidly going to
decay.
The amount principal and interest actually duo
Is nearly 81 100000. Judgments for nearly SoJO.OOo
repres nIng temporary oans and interest due, have
been obtained by the Mutual Benefit Life Insurance
Company Of Newark. the Singer Sewing Machine Com
pany and other good creditors, and application VIII be
made soon TO the Court for Il rule To show
cause why o mandamus should not issue com
pelling the putting in the next tax levy
the amount Of tho judgments. Tho city will
interpose the Vail Mandamus Bill which requires tLata
judicial investigation must be made 10 ascertain what
TAX the city bear. Last year three utisn' ns TOE
$4,000 for which mandamuses had been Issued were
There are several bills before the LEGISLATURE having
bills are mostly the interest of the bondhodcrs and
provide different mehOds fer the city To meet ITS obsa
lions There have several Conferences between
committee representing the cy ana the prept rrsu-
tors with view to some sstiemen on oass
The creditors waiting to see what action Tue LrGsa-
M qEG ucm St the Debt be & passoe 40
four PER rest but this held 20 be posibo by
b. them proposition has been submitted by tue lead
Ing taxpayers that settlement be nade on Tue lolo.
debt shall be issued, hearing interest az per cent ZOE
a be fn pei yer ecSt iGt no
forty years petition TO rms en- Ct Is now DrnS
Council IL is understood however that the creiitors
have already sgnitd their unNinRncss TO accept TINS
listen 10 any proposition that makes possible t6em
to pay, but that s6locd cannot be drawn nom st'ns
,ha font An
render Of their properties, which pay a nj ~ iu WHO
nents in the tax levy this year rate woa be raised
to about II per In 1873. when the valuation Ok
cSSn;ed e the psaD for OF sasce in
Office the rate 06. The following year the Oh
valuation was restored and the rate was III ID i'eo
said citizen Of Elizabeth YESTERDAY: I'VE oTe QUE
AGO when Frstst improved the two highest Courts
decided hat assessments for ZEN soa NJ
subsequent improvements were made upon bat dcciSion
sary to obtain the consent Of the MATURITY o property
owners the authorization OF the Common ooune
bonds were issued for this purpose ard were supposed
be lien on the particular S ~
Wooden pavement contractors went 20 EiiSabsth pur.
chnsa Sgas 60 Ss Tor TIC Of
wood pavements aud then took the contracts wien mo
wSTS was tsev hsd paid part purchase they
prOdted largely by their earnings GU The pavement CON
SS Then boa ssSs' w Wishing
pprocured the passage OF law replacing these
bonds with the Consolidated Improvement bonds, iot
whioh rl,e city was made liable. There was an assoclt
zion OF czens formed to oppose the issue OF toe ITS
bonds and the matter carried To the courts ~
thew were Told nat as they did hvo ON the lne
the streets be improved they bad 10 yaa ,snusb tbs
improvements were made against their pfoes, onrs
now compelled by the subsequent decision r we
10 pay their share Of the expense OF az ~ satsfs
and are thrcatenede even With Legal connScaa'' "
the citys creditors. . 10, % that's tour miles M
water front and means Of future as sy b
enough pay Its outstanding ooiIge
iions While divided sentiment o. y
stronSiy opposed 70 sacrifice Of properly interests
s,eeI lie fuli demands Of creditors. -