The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1891-05-02
BOARD or FINANCE.
forFIcIAL p-nocREprNasl

Special meeting OF the Board Of Finance.
held in the City Hall Wednesday. April
%. 1891, at noon, for the purpose Of organ
izing.
John Edelstein. John Kenny and George
w Peterson.
Absent-Mr. George r. Hitler.
The meeting was called to order by
William G.. German, VINO read the fol-
lowing communication from the City
Clerk
JERSEY CITY. April q. 1891.
w. G. German, Esq, Clerk Board Of FL
DEAR SIR-Tnis is to certify that John
Edelstein and George w. Peterson nave
this day appeared before me and / nave
administered to them the oath Of office as
Members of the Board of Finance, as re-
quired by law. Yours respectfully,
JOHN F. SCOTT,
City Clerk.
On motion Mr.. Peterson was appointed
to act as President pro tempore.
On motion William G. German was ap-
pointed to act as Clerk pro tempore.
The Board then went into an election
for President
Mr.. Allen nominated John Edelstein as
permanent President. No other nomina-
tions were made.
Messrs. Kenny and Allen were ap-
pointed to act an ~tellers.
On motion of Mr.. Kenny, Mr.. Peterson
was requested 10 cast a ballot for the
Board.
The tellers announced that Mr.. Edel-
stein had received the unanimous vote of
the Board and be was duly declared
elected President OF the Board Of Finance
for the ensuing year.
In accepting the Office President Edel-
stein said:-
"GeutIemen:-The renewed honor you
Io.-a o,ufaNraa nrap eao ga n.a fhaT an
preciate most highly, and my acceptance
assures you of the best services / may be
able to render. We have passed through
a notable year, and no signs of public
disapproyal have been manifested again.t
the city government. The record OF the
Official year has seldom been equaied In
Jersey Cfty's history as regards the num-
Der Of public improvements which ave
been completed or started. The much
needed new City Hall IS now assured, and
our Board will have its part OF the work
TO perform. The buildings OF the Police
Department are now in better shape than
thev have been in years. The new head
quarters building has been finished. and
several new precinct buildings have been
completed or contracted for. Several
new public school buildings are coming,
and the older structures have re-
ceived repairs costing over S23,0O0.
Jersey City has been pledged to build a
1OlUL sewer Will w est DO1OkCn anu LNO
enormous main sewers to drain the
westerly slope of the Heights are under
contract. a large number Of smaller
sewers have also been constructed and
miles of streets have been paved. The
city's water works have been materially
improved by the erection Of a stand pipe
MT High Service, which assures the entire
Hill district against the recurrence Of
water famines. Large sums have also
been invested in extending the water
mains and in replacing worn out pipes.
The City Hospital has received needed
improvements and other city institutions
things the Board of Finance had to act
and the results have met with public
approval
but it was within the special sphere of
our Board that still more telling work
was accomplished. With the assistance
Of the Sinking Fund Commission a block
of 500. 900 maturing city bonds were pro-
vided Tor and absolutely wiped out. This
was a grand achievement, but 1t became
all the more prominent when IL was
backed MP BY the refunding OF s.. 055,000
bonds at a reduced rate of interest, ami
the establishment of sinking funds which
will meet the entire amount as it natures
twenty-five years hence. The Commis-
sioners of Adjustment have also done
splendid work during the e Twenty
nine reports we're fled, and resulted in the
transformation of worthless arrears into
tangible assets aggregating 81, 403, 22T.Tl
The city has also been benefited to tue
extent OF S233, 342 OIL by the WORK Of the
State Board OF ASSESSOR All have been
supplemented by the following figures,
furnished by the Building Inspector. and
giving a synopsis Of the years work in
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