The Jersey City news., 1892-06-16
TIE 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 a little row which
has been pending in the Board for
some time. Usually the greatest
unanimity characteri5es 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 f.the city money, and q
desirability of increasing the number of
city deuositories. 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
133 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
City Treasurer to diminish the deposits
accordingly.
ALIENS PERSONAL DEFENCE.
When Clerk German had concluded the
reading of the resolution, Commissioners
Allen was on his feet in an instant.
Addressing more particularly Com
missioner Peterson than Presid en-
Edelsteip, he said:-"As chairman
OF the Committee on Finance, l know of
no reason why this Board should make
any change In the repositories of the city
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 uni
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, l say, a re-
Election upon me. 1t is reflection that I
am doing a personal service to some
bank. II it is SO thought to be, deny it.
l say now that our National banks
are all good, and l further state
that our savings institutions are good
ones. ueulHnu TO KNOW Oh bfe auLnOr
of this resolution why these changes are
wished to he 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. | want to comply with the
law regulating the equal distribution Of
the city money"
81 will vote for this resolution said
DTQgidnnf E1llstnin
think the present repositories are unsafe
or because | haven't confidence in our
Finance Committee. Our committee has
done more to help this city than many 6
preceding one, but the resolution is
merely a compliance with the law on the
subject"
at is a late day to comply with the
law" interrupted Mr.. Allen. "the cita
lion of a law of 1871. 1t certainly looks
very funny to resurrect such law a
this time. hope the resolution will not
pass"
President Edelstein and COMMISSIONS
Peterson voted for the resolution, but Mr.
Bedell voted with Mr.. Allen, thus knock
ing the resolution out.
The matter will probably be brought III
again when Commissioner Hitler returns
from abroad.
THOSE USELESS CONFERENCES.
Another lutte breeze was stirred up
when President Edelstein, as is custom
ary, made Commissioner Peterson the
author of a resolution calling confer
ence with the Street and Water Com mis-
sioners and Cnief Engineer Ruggles on
June 49, 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. l don't see
what use there is in meeting that Board
Our conferences never amount to any
thing and mover do any good. Thai
Board has ignored US time and time
again and these meetings are very unsat-
isfactory to me. Every time conference
is held we have sustained the members oil
that Board, ana l do not care to eel
then, SO far as / am concerned. | think
we should adjust our business without
these conferences"
The resolution was withdrawn and sub
sequently offered by President EdelsUein
and adopted.
The petition of the Aldermen for $500
with which to repair the Aldermauic
Chant ber, was approved of, but all ex
penditures will be supervised by President
Edelstein and President Allen, of the
Board of Alderman.
On resolution by President Edelstein
the Presidents of the various city boards
were directed to submit estimates of ap
propriatious required for the current yeal
by June 2S. Each Board will be compelled
to submit an itemized statement of sums
required for salaries. The sum of s25, ,00C
was ordered paid on account of the county
tax for 1891 and S139, S96. Sc transferred for
the payment of July, 1892, interest.
Claims aggregating $1,000 out of the joint
sewer job were paid. A petition from
Van Houteu Post, asking for $500 for che
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
Cured in were those for the construction
of a sewer in Summit avenue. from
Montgomery to Wayne Street. and the
award to H. Holmes of the contract fol
the improvement of Germania avenue.
The Binancers will confer with the
Street and Water Commissioners mex
Thursday morning at ten o'clock.