River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1883-11-01
TAXES IN GOTHAM.
Who Pay the large Assessments
Mr Astoses inttle Check

Who Pay the large Assessments
Mar Astow's Little Check.
In old times every ward had its tax
collector; who was required to give Sc
curity says New York letter to the
CINCINNATI Commercial Gazette. | well
remember the last of this class, old
Oliver Cobb, whose bonds reached the
enormous sum of 100000 He had the
first ward, which included Wall street,
and hence the security was of cores
pondIng amount. OF late years however
the collection has been made in Central
office which opens on October lst A
crowd appeared on opening day, since
interest is allowed on all payments made
tefore the close of the month. Chlet IN
the number was John jacob Astor's
clerk. who had check for S406, 235 %.
Reader, only think how rich man
must be to pay half million for taxes.
William H. Vanderbilt paid $4,000.
He is really a richer man than either Of
the Astors, but his property is chiefly
in shares in corporations which pay
their own taxes. Hence his bill is COM
paratively light. This, also, is the reason
why jay Gould pays such small tax.
He invests almost all his immense in
come in stocks, but has enorgh real estate
to call for tax of SIS, 600. Three women
appear among the most prominent tax
pavers. One is Miss Kitty Wolfe, the
beneticient spinster of Grace church.,
who is assessed at 100000, and there
fore paws tax of 50, 100. Mrs. A. Il.
Stewart pays tax of 81 490 on 100000
IF personal estate. in addition to thrice
that sum in real estate. Her Fifth ave-
nue. palace alone is taxed pl1. i90, being
valued al $500, 600. Mrs. Edwin ID. Nor
gan (widow of our late ex-governor IS
assessed at 81 ,000,0 in personal estate
in which she pays tax OF S22,900. Fer,
sonal property is not easily reached, and
hence often escapes tax. This is one
reason why some capitalists prefer 1t.
They conceal their bonds in some place
of safe deposit, and no one is the wiser.
The late Moses TAYLOR, for instance, was
assessed at 81 100000 personal estate,
but after his death the latter wa dlscov-
cred to be ten times greater, and he had
thus escaped taxation.
The entire assessment roll of real and
personal property is 81 ,276, 100000, and
| the gain since last year IS S43, 000,0 1000 o..
| During the past ten years the valuation
of real estate has Increased S240, O0J, 900,
which is more than the entire increase
during the first 225 years of the city
existence. This fact shows that New
York is growing now more rapidly than
ever The life Insurance capital alone
| is $3.50 .000,000 and the immensely Ofthe
gas business is shown by the fact that
the nine companies are assessed
at S., 900, 900. The value Of untaxed
church properly is $40. 000, 900, but this
does not include Trinity estate, whose
taxes are paid by tenants. The number
| of taxpayers diminishes as wealth accu-
muates, aud the big fish eatup the little
ones in that specially as we'll as in every
thing else. The Astors are constantly
| buying real estate, while Jay Gould,
| Russell Sage, and the Vanderbilts are
accommodating personal property.
| New York is becoming noted for lis
grand commercial structures, but the
same tendencies to high cost is found in
| the dwellings of the aristocracy. Will
| liam III. Vanderbilt's palace is valued by
the assessors at $3.50, coo and Mrs. A. t.
Stewards at half million. The former
| paws tax of Si7,175, while the tax on
Mrs. Stewards palace is $ll, $50. Some
people would think the above mentioned
sums would be sufficient if they were
merely rent, but to make Mrs. Stewart
| house a paying investment it should
rent for $780, 600 year. The valuation
| IF hotels may be inferred from the fact
| that the Astor house is put down
At s., 900 900, while the Fifth avenue is
placed at $1,000, 000-all at so per cent.
/ valuation,