The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1895-04-25
A LIVE CITY.
Alleged Facts Put In Circulation
By Newark's Board Of
Trade.
Special to the .Jerseu Citu Me,rs.

Special to the Jersey City Necs.
NEWARK, April %. misunderstanding
statistics relative to the growth n
present standing of Newark as a city
are to be found in a neatly printed card
which is at the disposal of visitors to
the Board of Trade rooms. The card. in
the first place. gives the names of the
boards officers. with the names of the
| various committeeman who nave the
work OF the board in hand. On the re-
verse side are the statistics. culled from
various sources by The assistant secre-
tary. James NJ. Reilly. under the direc-
ton of Secretary P. T. Quinn.
Starting out with the assertion that
| Newark is the chief city of New Jersey,
the list continues with the announcement
that the city rates fourteenth in point of
manufactures in the United States. and
that there are only sixteen cities in the
country hat can justly claim a greater
number of inhabitants. The estimated
| population for the present years is quoted
on the card as 240. 600. The succeeding
| paragraph treats of the manufacturers,
and it is stated that there are 2.4l3 fac
tories and workshops. employing 1850
hands and producing annually goods to
the value of ss1. 600. 900. The total capital
CliPlOJ GU LII iC CITY . NEUTRALITY-SUSPICIOUS. Gil
terprise is placed at $50. 900. 600.
THE WEALTH OF THE CITY.
Taking up the wealth of the city as a
municipality the valuations are placed ut
s12S, &C .000. with a debt of $11, 4Ss, 600, and
the tax rate 1.96. There are within the
city limits sixty miles of paved streets
and 1913 miles OF sewers. The water sup
ply is the subject OF a paragraph in it
self. which briefly tells that the supply
is good for so. 000.O coo gallons of pure wa
ter daily. and that it costs the city
S 5000 00..
The annual cost of maintaining the Fire
Department of the city. according to the
statistics set forth on the card, is $500, go.
TIL force consists of 1873 men, detailed to
man the twelve reamer and the three
Observation-Disclosures trucks. Forty-tnree pub
lie and 1Ity-three private schools, Mr..
Eiellly'S list says, give accommodation to
81. UuU pupils. IL costs tine city S5U9, D00 an
nuaily TO maintain the kpuulic schools,
the value or the scnooi properly aggre-
| eating $780, 9u.
IreatIug Oh Inc financial interests, the
report says mat Newark mas eleven Ma
tlonai anu state banks. I'VE SAVINGS lnstl-.
turlons. three lille INSURANCE companies,
-four nre INSURANCE concerns anu 1OrJy-'
TWO building ana loan ASSOCIATIONS, Tne
total OF the nnanci&l 1nstitu-
tons of the city are quoted as SlGo, 167, S19,
with lIapiiiI1es dInUuIiting IL on1y $Yi ,3Yo,-
154- The amount OF Commerce entering
Newark averages. according TO the sched-
ule. 3,42Y,S93 tons. OF wnlcn IL. 23l tons is
carried yearly from New York NY trucks.
Tne freight Dy faI1 reaches rne average
of t,179,0y7 tons ana ny water i,oZo, oo5
tons.
MOVING TRAINS
the little cara tells 'oT Isl trains NOV
ing eastward from The various railroad
depots and 241 moving IN a westerly direc-
ton. the total yearly pelrg 1y1,y1 trains
leaving the city. Tx passenger travel
TO ana from NawarK Yearly for several
years past mas averaged S,144.z6l persons.
OF the street electric aliway the card
Of sl4. UUD.0eg. and connecus Newark with
cities and towns whose combined popula-
ton aggregates close TO 1.uus,UJ1 people.
| the report concludes; "a home for man
ufacturers. Its advantages. are Of a
marked character-cheap Iuel, low taxa
ard water transportation facilities and
in thirty minutes of New York"
Eyes, and with all these natural ad-
vantages, wealth and equipment said
a prominent banker to a reporter
after reading these statistics. New
other cities with less shan half is popu-
lation, less than halt its financial in
t~erests, are in full possession of, and
the city Of Wilmington, Del, for in
stance. That city has $1,000 inhabitants,
with eight banks and trust companies,
There the system is handled witt COM
paratively little expense. The bankers
meet at each Institution in turn. OF
other. and so on, making daily ..ttle-
Binghampton, n. T. with a population
panies; New Bedford, Mass, With 1000
inhabitants, and six banking %1nstitu-
Newark in point of wealth or
| lation. Yet all these little places make
their clearing house reports, showing the
| recognized and quoted as none centres.
IN REGARD TO A CLEARING HOUSE.
WHAT'S the reason why, Newark is
porter. HAS the establishment of a
clearing house system ever been agi-
aYes, about ten years ago President
Rockwell of the New York City Ma
tionai Bank tried to boom it, but the
necessity for It. You see the banks are
to Du arsae, Il Il is an easy sIa snat t 'e once
messengers to make the daily rounds
| and exchanges. The same objection
would probably be advanced today and
viii probably go limping along,
Unknown and unreccgnized IN the world
of finance, instead of occupying the
| position as a financial and money centre
that she Is justly entitled to because of
| her very large financial interests. When
Mr.. Rockwell talked the matter up half
a score of years ago he met with de-
| cioed opposition from one institution
i that went to the wall shortly a~fterward."
pther bankers, h were seen by the
| reporter In reference to the matter, de-
clired that they felt no need OF a clear
ing house system, asserting that the
| prbximity OF the banRs of Ne wars made
Thu matter Of clearing q simple and easy
ONT.