The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1893-09-25
MONEY LOANED THE City
Finance Commissioners Will
Be Able to Meet Bonds
Falling Due October /.
BANKS WILL NOT A < INTEREST.
The RaVine Road Sswsr to Be
Built-Aldermen Given Charge
of the City HALL.

The Finance Commissioners met this
morning for the purpose of making ar
rangements for the redemption of the 2
per cent bonds to the amount of $500, 900.
which fall due on October l.
The exclusive announcement made in
The JERSEY CITY NEWS tbs the banks
would advance the money needed was
corroborated. The 100000, which
is absolutely necessary on Oc-
tober /. will be loared by
the banks. IL is explained that the
banks will advance the money, but it is
rumored that the chief lender is the Sec
ond National Aud the most extraordi~
nary proceeding is that the bank will
lend the money and for nothing. This
was brought about in this manner:-
IL is "a well known fact that the city
has thousand Of dollars lying in bank
from what no benefit is devised, out
which ia used by The banvs. The banks
have mad the use of the csiy money and
now in II manner of reci orocalion they
will lend the Finance Com missioners the
city's money and the old seven per cents.
will be redeemed and wiped out. But
just, as soon as the money
market gets easier another effort
of five per cent. which were not saleaoie
Il few weeks ago. AZ soon as these bonds
are foated $500,000 will be devoted TO
paying the banks the 100000 borrowed.
THE RAyINE ROAD SEWER.
Having gotten ont of this little fnaD-
ciai dllemMa the Financlers decided 10
build the big Ravine Road Sc wer. Much
has been said OF the injury whicn
the Cily of Hoboken sustained
by the old wrecked road
sewer eniptying he refuse it carried into
Hoooken lots, tnus ehdangering the pub
tic health.
CORPORATION Counsel Edwa rds reviewed
he history Of the Ravine Road sewer 10
the financiers. going back TO the date of
the conception Of the plau aud bringing
them up to the present time. The new
sewer will cost about $85, 600. but this
cost will he borne by property
owners who will be directly
benefited by it's construction. Now
just rs solu as the Street and
Water Board receives bids aud informs
the Finance Board of the whole cost OF
the work. concurrence will ensus and
work uDun the much needed sewer,
which will drain some 500 acres. beguu.
WEST SIDE SEWER RESOLUTIONS DEFECTIVE.
The in pciers also discovered that
there WAS defect in the resolution
passed by the Street and Water Board
West Side sewer. The Finance Board had
concurreu in the resolution, but this
morning hey reconsidered it, as soon as
the proper resolution Is passed by the
Street aud Water Board i'll will be con-
| Cured in.
LIQUOR LICENSE MONEY.
The sum "f 100000. representing. one
fourth OF the llquor Incense money CT this
year. was or ercd, paid to the Sinki0g
Fund Commissioners. The Com mission
ers also sanctioned the improve
aent of the old Bergen road
The old nlacadnm which has graced
Ocean avenue tor years. will be used in
tnis work. Ocean avenue is to be passed
with HalriE9ton's famous syenite blocks
some time ago.
NEW RENT COLLECTORS
Emmors q Cu. were appointed to col
lect the rents of houses and property ac-
qGireh ov the city uuder the Martin =
act. This morning the Board appointed
+. G. WolherI, who was given all that
portion of the city lying south OF
Sixth street, aud Cornelius J. Cronin, all
north of SIKH.
ALDERMEN AND THE CITY HALL.
Alderman Max Saliuger appeared be-
| fore the board and cl imeu that the
Aldermen were the custodlaDs o. the
City fall. The Finance Board has set
aside $2,2S0 for the care aud heating of
the building. Alderman Saltnger says
he eau do the work for $l.2O0, thus
saving The city S1,060 year. The
Finance Commissioners are going
to let the Aldermen do it, aud
and Will place the $1,0S0 saved into the
Sinking Fund. Saiinger will reduce the
expenses by discharging about halr OF
the City Hall employss, women and all.
Corporation Counsel Edwards was
asked for written opluion in the n after
nf nf nln claims inp11rra6 -
excess OF appropriations.
The Board Will meet AMIN Octnhar