New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-12-30
ELIZABETH AND IT'S BIG DEBT.
ERR. MCKENZIE MAKES A STATEMENT.
ANSWERING SOME LOCAL NEWSPAPER EEMAkAS-
WHAT THE COMPANY OFFERED.

ANSWERING SOME LOCAL NEWSPAPER EEMAi'N0
WHAT THE COMPANY OFFERED.
There is much hostile feeling among some
people in Elizabeth against tao Singer sewing MacIi"e
Conpanv and the criticisms which OF the New
York newspapers have made upon the course puISu "
the citys officials with reference 10 the Indebtedness VI
the city TO the Singer people aroused angry retor
some of which find expression in recent Issue u a
Ezabeth PAPER II states that the claim made by ule
Singer Company would impose debt OF @9'ooo'VVo
or 81 600 600 OF taxables" TRIBUNE reporter caeu
the attention OF Mr.. Mckenzie, the president oi 'he
Singer Company. to this statement.
1T is not true" he replied ohuor
onr form OF settlement the dent WOulu
not exceed So 100000 We willing to accept per
cent on back interest which would make the DEBT less
than Sc 100000 We were further willing to bny al
auction lands which assessments had NOT Dech pau
providcd wo could get titles for them ana 'hlS Woiu
make the assessments and taxes yield S30OOOOO Ihs
deducted from $6,O00.000, would make the net oop'
only So. 5OOO 600 instead Of $7,000,000 AS business
men, we cannot acccptany settlement OF the debt WAch
does not equally include all the other creditors we
did otherwise we should be taxed TO pay 100 cents Oh
the dollar to those who would not accept any co'n-
promise. while We received only something Ike hny
cents But We are willing to settle Our bonds on any OASIS
TO which all the other bondhoders VIII agree We are
willing assessed lands for our bonds prlhcpa' anu
II settlement ia made and laws secured to give
us good titles paying assessments ana lnersia ~
bonds. fhls CONSIDER equlNach W i"
eeng that the assessments will yield fuy S5'oVoOVV
reduce the debt over onc-hhlI 49,. .,o,. nan not
The Elizabeth authorities assert that they can MOI
find any purchasers tor the lands heid Ior taxes s"u
the reporter. ..,,,s NJ ucVeryie
We have never had q chance 30 buy them. new law
&c necessary 10 make a good sale. We have urged The
passa of such law for seven years l|St WIh'cl
iaws were drawn M one by judge Gi!hG0iy which
would have worked, hut was killed by tEe EiIltDe{h
pmiticans IN Legislature and another Whlch wouu
only have worked evil, which passed the Legislature
but was vetoed by the Governor. ,,..
eft is said that Mr.. Clark, the former pres'ueh'
He ored to settle his 90 per cent in cash
delft il is easy Of settlement Get law to give good
titles put up sale all delinquent land iet al clas
against it be payable in city bonds with pfhty OF unc
for owners to redeem carry ont ne details IN tood
faith and the debt would not exceed '5ooo0o bearing
Mir. NcKenze's notice was then called to this state
men: from an Elizabeth paper:
re snsSr GomPaRy GSfa af9 a"G"ns, d & ryeG
under bin Elm otler words under the nnihoIig o. n
to secnre IT, 90 iht big bonsrir,. nlsit mol ne
Company which rad reia1ad t. pay al, EaAe = MAJ
0und nj ali points the npany While th4 shoud
have SftsS o an ~ oe OF aay nor denquct these
taxes have mel imp d but tho iGdsmcnt hhe3 tc
liability AID establishes I'm IL the nseI I i
have been superse I'd As matter o. Law
"The Controller had no dni,uty, 50 Tar as we were
concerned. IN nIllSins thC III ~ t & ,v oi 1854 on
the crond that the bin No. 49, took from ~ "a! r-hIs
as creditors of the city ana Strengthened lac Guy power
TO mess its claim against The court decided against
tue company. There Was IN h.ir>tT nothing 20 %
coined r taking the tax OF $50 into court Mhii' ths
law exists there law for creditor IN lI/t"rt
The decision Of tie shuts MS Oh from any more o.
reii.f in tnt direction aud nothing lett Us but 20
expOsc the lnflmy OF the Law by suhm ttNE 10 us ~
fOrcrmcnt. The city owes US on lNiLheh'5 ", ,,
81 900 600 We owe the city taxes $4,000. ILi-
law means that the city can 90 ahead an correct I'M
amount from but Ne cant get from thrn "Hit ihS
owe us or oct aside any portion q" 1t To odSrl ta cam
acaiDs, u. That offer has been repeatedly rejected j.
H. an outrage levy IA for taxes ana riusa any sax
ts,acti0u for our judgments against the city.
:. The whole trouble said Mr. Mckenzie IN cph'ln
sion i, that some people In Lzdoeth want 10 !caFe
open door of escape for the assessment eFddCi.