The Jersey City news., 1892-06-16
THE CITY'S MONEY.
An Effort TO Have 1t Fairly Dis
tributed is Defeated.

The Finance Commissioners caucussed
this morning from ten o'clock until
twenty minutes before twelve, In the
hope of adjusting little row which
has been pending in the Board for
some time. Usually the greatest
unanimity characterizes the meetings of
the Finance Board but this morning it
proved impossible to prevent little
squabble in open Board between Presi-
dent Edelstein, Commissioner Peterson
and Commissioner Allen. The former
named gentlemen were arrayed against
Mr.. Allen.
The subject of dispute was the equit-
able distribution of the city money. aud
desirability of increasing the number of
city depositories. The row was opened
when Commissioner Peterson presented
the following resolution
Resolved, That the City Treasurer be
| and is hereby directed in accordance with
the power vested in this Board by section
1873 of the charter of 1871 to make his de-
Dosits and keep them in equal proportion
as nearly as practicable in all of the city
banks that are willing to loan to the city
| any money it may need to borrow, and
when any of the banks declines to make
| its fair proportion of the loans required
| by the city, it shall be the duty of the
| City Treasurer to diminish the deposits
| accordingly.
ALIENS PERSONAL DEFENCE.
| When Clerk German had concluded the
reading of the resolution, Commissioner
| Allen was on his feet in an instant.
| Addressing more particularly COM
missioner Peterson than President
| EdelsteiD, he said:-"As chairman
! of the Committee on Finance, I know of
no reason why this Board should make
| rbQnnrQ n tha nnnnQiral.foa of N n y
money at this late day. The repositories
now used are as good as they ever were
| and every member of the Board will bear
me out in saying they are as safe and as
good as any in the State. Why this
resolution has been offered do not know
unless it is for some peculiar personal
service. 1t certainly, maintain. cannot
| be for the benefit of the taxpayers. Can
any of the gentlemen of this Board tel,
me that the repositories are unsafe or unA
popular. Perhaps the object of the reso-
| luton is to increase the number of de-
| positories. To attempt to change the de-
positories at this late date is, 1 say, q re-
Election upon me. 1t is reflection that
am doing a personal service to some
| bank. If it is SO thought TO be, deny it.
| say now that our National banks
are all good, and ] further state
that our savings institutions are good
| ones. | demand to know of the author
Of this resolution why these changes are
| wished to be made"
There is no personal feeling in this
! matter" replied Mr.. Peterson. 81 have
no axes to grind and neither is the move
one warranted to cast any reflection upon
| Mr.. Allen. l want to comply with the
law regulating the equal distribution of
the city money"
II will vote for this resolution" said
| President Edelstein, mot because /
| think the present depositories are unsafe
1 lNnn 7 HOY f,NO
| Finance Committee. Our committee has
| done more to help this city than many q
preceding one, but the resolution is
merely compliance with the law on the
subject"
"ft is a late day to comply with the
law" interrupted Mr.. Allen. "lhe cita-
tion of a law of 1871. 1t certainly looks
very funny to resurrect such law at
this time. | hope the resolution will not
pass"
President Edelstein and Commissioners
| Peterson voted for the resolution, but Mr..
| Bedell voted with Mr.. Allen, thus knock
| ing the resolution out.
The matter will probably be brought up
| again when Commissioner Hitler returns
| from abroad.
| THOSE USELESS CONFERENCES.
| Another little breeze was stirred up
| when President EdelSein, as is custom
| ary, made Commissioner Peterson the
| author of q resolution calling confer
ence with tho Street and Water Commits
| sioners and Chief Engineer Ruggles on
June 90, for the purpose of reviewing
claims from the Water Department and
the amount required to be appropriated
for the proper maintenance of the Engi-
neering Bureau.
II wish, Mr.. President" said Commits
| sioner Peterson when the resolution had
been read, "that the Board as a whole
would offer that resolution. | don't see
| what use there is in meeting that Board.
Our conferences never amount to any
| thing and never do any good. That
| Board has ignored us time and time
| again and these meetings are very unsat-
isfactory to me. Every time a conference
is held we have sustained the members OF
that Board, and do not care to meet
| them, so far as l am concerned. l think
we should adjust our business without
! these conferences"
The resolution was withdrawn and sub
| sequently offered by President Edelstein
ard adopted.
The petition of the Aldermen for $780,
| with which to repair the Aldermanic
| Chamber, was approved OF, but all ex-
renditures will be supervised by President
Edelsteiu and President Allen, of the
| Board of Alderman.
On resolution by President Edelsteip,
the Presidents of the various city boards
were directed to submit estimates OF ap
4 ,
by June 2S. Each Board will be compelled
to submit an itemzed statement of sums
required for salaries. The sum of $25, 900
was ordered paid on account of the county
tax for 1891 and S1S9, ,896. .66 transferred for
the payment of July. 1892, interest.
Claims aggregating 5000 out of the joint
saver job were paid. A petition from
Van Houten Post, asking for $500 for the
improvement of the soldiers plot in the
New York Bay Cemetery was received
and filed.
The only resolutions from the Board OF
Street and Water Commissioners con
curred in were those for the construction
of sewer in Summit avenue. from
Montgomery to Wayne Street. and the
award to III. Holmes of the contract for
the improvement of Germania avenue.
The Financers will confer with the
Street and Water Commissioners neXi
Thursday morning at ten o'clock.
Dog Thieves on the Hill.