The Northern Pacific farmer., 1883-11-01
TAXES IN GOTHAM.
Who Pay the large Assessments
Mr. A Stcufs 1,tfIo Cbool,

Who Pay the L3rge Assessments
Mr. Astos's Little Check.
In old times every ward had its tax
collector; WHO was required to give Sc
curity says n New York letter to the
CINCINNATI Commercial Gazette. l we'll
remember the last Of this class, old
Oliver Cobb, whose bonds reached the
enormous sum of $6O0,0oO. He had the
first ward, which included Wall street,
and hence the security was of cores.
pondlng amount. Of late years however
the collection has been made in Central
office which opens on October 1st. A
crowd appeared on opening day, since
interest is allowed on all payments made
.teiofe the close of the month. Chief in
the number was john Jacob Astor's
clerk, who had a check for $406, 1886 .26
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 enough real estate
to call for tax of 81 900. Three women
appear among the most prominent tax
payers. One is Miss Kitty Wolfe, the
benefcient spinster of Grace church,
who is assessed at 100000, and there
fore pays a tax of 50, ,160. Mrs. A. T.
Stewart pays tax of Sill 400 on $50O,OOO
IF personal estate, in addition to thrice
that sum in real estate. Her Fifth ave.
nue. palace alone is taxed Sl1 ,490, being
valued al $500,000. Mrs. Edwin D. Nor
gan (widow of our late ex-go\ ernor) is
assessed at ST. ,000, 900 in personal estate
in which she pays tax of $22 900. Per-
sonal property is not easily reached, and
hence often escapes tax. This is one
reason why some capitalists prefer it.
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 was discov-
cred to be ten times greater, and he had
thus escaped taxation. ~ ..,'> =,
The entire assessment roll of real and
personal property is 81 ,276, 900. 900. and
During the past ten years the valuation
of real estate has increased $24O, ,O0O, 900,
which is more than the entire increase
during the first 225 years. of the city's
existence. This fact shows that New
York is growing now more rapidly than
ever. The life insurance capital alone
is $3.50, ,000,0 900 and the immensity ofthe
gas business is shown by the fact that
the nine companies are assessed
at $5,OOO,OOO. The value of untaxed
church properly is SAC, ZOO, 900, but this
does not include Trinity estate, whose
taxes are paid by tenants. The number
of taxpayers diminishes as wealth accu-
mulates, and 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
accumulating personal property:
: New York is becoming noted for it's
grand commercial structures, but the
same tendencies to high cost is found in
the dwellings of the aristocracy. Will
liam H. .Vanderbilt's palace is valued by
the assessors at S75O, O,0OO and Mrs. A. r.
Stewards at half million. The former
pays tax. of $l7,l75, while the tax on
Mrs. SteWart's palace is $1l, 450., Some
people would think the above mentioned
sums would be sufficient if they were
merely rent, but to make Mrs. Stewards
house q paying investment it should
rent for $4,000 a year. The valuation
of hotels may be inferred from the fact
that the Astor house is put down
1t 81 ,OOO, 900, while the Fifth avenue is
placed at $1,000, ,OO0-all at 60 per cent
valuation. F "a s.=E. ~ s2tzt5 -