New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-07-02
ELIZABETH's FINE SHOWING.
MAYOR RANKIN REVIEWS THE WORK OF
THE LAST YEAR.

HAS RESULTED IN REDUCING THE FORMER
DEBT. WHILE IMPROVEMENTS HAVE
BEEN MADE WITHOUT INCURRIN0
MoRE-A REDUCTION OF THE
TAX RATE TO BE MADE.
Elizabeth July (SpeciaD.-The CITY Council held
IT'S first meeting OF the new fiscal year tonight.
Besides transacting considerable routine business
the Aldermen listened with much satisfaction 10 the
annual message OF Mayor John C. Rankin Jr'
which shows that the city is In most prosperous
cond ton financially, and that much good Work mas
been done within the last year. The message was
an exhaustive one each subject receiving careful
consideration. especially that relating TO
finances.
In his annual message. the seventh OF It's kind,
Mayor Rankin presented the following resume Oh
municipal operations for the year:
The question OF how best to purify the Elizabeth
River and prevent the nusances which prevail a.ong
It's tanks Is probably the most dileeo m, UVV.r
which you will be called upon 20 solve A comiii'o os
appointed last year 10 consider TINS mater anu
was authorized 10 employ an expert. in conJunctSn
with the CITY Engineer, 10 prepare report on tiie
subject. IL is understood that these engineers haNe
about agreed upon report, ana the result Oh ,her
delil,e lions Will very soon be submitted TOT your
lis a matter Of congratula,ion that the time has
arrived when reduction can safely pc made IN me
tax rate This subject however. should receive your
very careful consideration. reduction certainly
should be made but only 10 such an extent INA, 'he
new rate can be safely and surely maintained a
gradual cutting down OF the TAte from year 10
would be a source OF agement to the tdXiay-
ers but If radical action be taken and future
conditions demand increase OF the rate. the eneci
would be unfortunate.
The bonded debt OF the city is follows;
Adjustmen; bonds at So due July L.. ,,- oo
Deferred tS-1 coupons. at "a. due july /.
i'' sss $40
Fourth Street schoOlhouse bonds at GO due Sep
Adams aHiS'' Avenue nue. schoohoase bonds At 5ss due
or Has" Ayenu s' Schoolhouse bonds at Sc due
sixth S9ne siiess schoolhoa.e bonds at ~; due
Je r. y' Stree; Nev ~. j. schoohoase bonds a.
SO. due May l. 1898 OBSERVATION-DISCLOSURES. -l'"p
Total So iss. $50
Five e' per cent bonds fi to be issued for eoTple
ton Jersey Street (New No y School -. -.o
house due May J. 1905 ..............'''.'.. VS."
Operations Of Sinking Fund July I. 1895. TO June
30, 1896
RECEIPTS.
Cash balance 30 1885. IS ~ n
Received from Licenses 800, ostl ~ ~
Received from sundries ..........,........ -'' W
DIsBU RsEMENTS
Purchase Of city bonds. ..............s So, ass %
Payuenis OF iadggentss , ''''''''''' $50 go IT,
T"sJ ~ ............... .sS5 IA %
The improvement Fund balances follows:
Tn creaft =, street irpr,venert Fund ...... sss73 II
Cor repairing wooden paved 21:$ 81
IT, IT, Iii - sI@wa,k Fund ............. 737 o.
The following amounts are due from assessments;
For stree, paving $50 us -
For openng new streets s,:4 ~
Total .................... .s47. 22i 80
A b9, no, pas assessed sSr 53 Il
AMOUNT moi ro paid for sewers completed but
SeSsed '''