New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-08-21
A REPORT ON THE TAX RATE.
EXEMPT CORPORATIONS DECISIONS MAY MAKE
CHANGE IN THE FIGURES PREVIOUSLY GIVEN
THE KINGsBRIDGE FRANCHISE.


THE KINGsBRIDGE FRANCHISE.
The Board of Aldermen met yesterday Afternoon
and received the report of the Finance Committee
OF the Board on the rate for the present year
The committee had on Monday fixed the rate at
1872 but the exact amount OF the deficiency 10 De
inc uded In this years taxes had not been computed
at the Controllers office when the committee
reached that decision. further consideration OF
the exempt corporation decisions also convinced the
official that the amount OF the exemptions might
safely be reduced. An early meeting Of the COM
rnittee was held yesterday and II was ascertained
that a rate OF l9 would supply sufficient revenue
TO meet the estimated expenses for next year and
supply the deficiency for last year The amount 10
be raised according to the Controllers figures. was
S,s 400 7sl 1s The total was made up as follows:
Final estimate 1895. sU ~
ss7 10000 %
Add amount Tor the Commissioners Of Ac- ,0 ouo ~,
ado SSa AMOUNT estimated for dencences in col
lection o-o'ooi -
Total 600 ' "
The estimate for the deficiencies had been placed
NJ a HIGHER amount In the first reports which were
made The Finance Con mttee was also able TO de-
crease the for corporations exempt from local
taxation for State purposes the rate being hxed at
l727S The total valuation OF property In the city
was s2ol6si7es2 Deddcting the property OF exempt
cornorations amounting TO s5 s2s 303 the valuation
for general taxation is NS5l.ns3os
The r.nort of the Finance Committee was latl
over until next Tuesday when 1t will be adopted.
Alderman Olcott the chairman OF the committee
presented the report
Aldermen Parker Goodman Marshall and Brown.
a majority OF the Railroad Committee presented
renort in favor Of granting the application Of tine
Third Avenue Railroad Company for the franchise
for extending the tracks to kingsbrdge and the city
limo President Jero,oman and Alderman Hall are
said ~ favor the granting Of the franchise 10 the
Netronoitan Traction Company. Alderman Robin
con has not announced his purpose In regard to the
matter Th,. report also was laid over until next
rrrasdav and was made a special order for that day
The Franchise may be granted at that time. Little
chang. NJ oplnion is shown the Board last
,o,ad % Grant the franchise to the Third Avenue
Company.
A letter was received from the West Side Citizens
Association calling he attention OF the Board TO the
fac, ina, III rant 10 the New-York Central and
Hudson River Railroad Company OF the right TO oc-
III occupancy Of the road for NIFTY years. and forty
nine have passed since he noa "a , ~,
renewal OF the grant by the Board. The matter may
not be considered by the present Board. but the
opposition TO the running OF me trains on me stree,
kent I'm by IVES, Side house holders that a renewal
OF the permission granted many years ago Will en-
counter strong objection from many taxpayers.
Alderman Marshall asked that the francnise Tor
meriy granted the company which agreed 70 built
a road connecting Fulton. Wall and Cortlandt-st
ferries be taken away but the motion was not acted
upon.
civ Vigilance League OF the IVth Assembly District
asking the Board pass the resolution offered by
Alderman Ware accepting the street fountain pre-
scented by JACOB II. Scnin