The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1898-11-18
HALF 4 MILLION.
City Richer Today by q
Compromise With the
Central Railroad.
CASH FOR AN OLD CLAIM
Almost the Last Dispute
Over the Railroad Tax
alton System Set
tied.
FEATURES OF A GOOD DEAL
City Treasury an Immediate
Gainer--Special Tax
Arrearage Bonds.
FEATURES OF A GOOD DEAL

The great Central Railroad tax arrear-
age case has been settled and Jersey City
will be $5S6,00O richer next week than she
is at present
The case has been in charge of Coun-
sellor William D. Edwards. as special
counsel retained by Jersey City, and it is
due to his untiring efforts that an alnicabie
adjustment Of the problem has been
reached. The question of how the rail-
road company should pay its taxes to
the city has been under consideration by
the city officials for the last month. The
Mayor, Finance Commissioners and Cor
pcration Counsel McDermott also looked
after the interests of the city in the dis
cussions which took place. The company S
original proposition did not meet with
the approval of the city officials. Mr.
Edwards secured many of the concessions
that were demanded. His whole course
was one that satisfied the city officials
Had it not been for the attitude Of the
railroad companys counsel the case
would doubtless have been tied up in the
courts for many years and the city would
have lost the use of more than half a
million dollars. Yesterday evening the
Finance Board met Mayor Hoos was
present.
Counsellor Edwards submitted the fol-
lowing agreement
This agreement, made this fifteenth
day OF November, eighteen hundred and
ninety-eight between The Central Rail
road Company of New Jersey, OF the
first part, hereinafter designated as the
Railroad Company, and The Mayor and
Aldermen of Jersey City, of the second
part, hereinafter designated as the CITY,
witnesseth.-
Whereas, The Commissioners of Ad-
justment for Jersey City, by their Report
No. 106 have adjusted certain taxes, as
sessments and water rents against the
lands of the Railroad Company, large
of New York Bay, at the sum Of five
hundred and seventy-six thousand and
sixty-eight dollars and fifty-one cents
(s5l6, o6S.5D apportioned among said LANDS,
as will appear in said report. which was
confirmed and filed in the office of the
City Collector on the sixteenth day of
September, A. D. eighteen hundred and
ninety-eight; and
Whereas, Certain of said lands have
been taxed by the City as lands not used
for railroad purposes and therefore sub
Ject to local taxation, and by the State
of New Jersey as lands used for railroad
purposes, and therefore subject to taxa
tion only by the State Board of Asses
sors: and
0Gf6dS,
arrange for the payment of the said adj
justed liens and the cancellation thereof;
Now, therefore, in consideration of the
premises and of one dollar each to the
other paid, it is covenanted and agreed
between said parties as follows
First-Thst said Railroad Company shall
forthwith pay TO the. City Collector all
the adjusted liens under said report No.
106 except on the following plots:-
(1)1Plot 600 In Block 481 &c.
~ Plot =, in Block 4ss, for which plots
(3) Plot 12C. in Block 300.
"a Plot 16, in Block 2, 154.
Plot AGE, in Block 2145.
Plot 46G, in Block Jas.
Plot D4S, in Block 2145; and
Plot asa, in Block 2,145.
Whereon the adjusted tax liens are to be
settled between the City and the State
under section two 90 hereof, and the as
sessments for street improvements on
Plots 4s E and 46 G are to be now paid
lD Plot leS. in Block 165, 1877 and 1888,
whereon the adjusted taxes from 1872 to
1892 are to be paid, amounting to $6,41S. .36,
and the taxes Of 1898 to 1897 amounting
to s, 1921 are to be settled between the
City and the State under section two
Nothing herein contained as to the
payments or exception from payment is
to conclude either party in case it shall
Court or on appeal that said lands have
City.
second-That application shall be forth
Supreme Court for determination as to
whether the following lands, whereon the
taxes have been adjusted ~ said report,
under division 90 and four ~ of the first
section OF this agreement, were subject
the respective years for which such adj
justed liens were imposed. Upon final de-
termination Of the question and settle
ment with the State, the Railroad Com
pany shall forthwith pay to the City Col
lector the amounts, II amy to be payable
made to any other lands adjusted in said
Third Said Railroad Company shall nav
TO the City Collector the adjusted taxes
upon lot one thousand q oO0), in Block 4si,
dred and fourteen dollars and eighty mine
cents ($314. .89), and upon lot e. Block l. 499
amounting to the foa sum 9f ONE hundred
1a cents @ aSs seisr total of foaf
drsd ana an an dosss a1a fory4M gR5
cents (S435. 80 49,, in five installments,
without interest. as follows -
On or before November u, 1899. the sum
of ninety-five thousand, one hundred and
eighteen dollars and sixty -four cents S95,-
1884. being the adjusted taxes thereon
81 sn@ or Seas S ass1 1 aBo 49, is e
ana eIghty-eight dollars ana eleven cents
81 oT gears psg iss M sss ana 49,
On or before November 18th, 1901, the
sum Of sixty-six thousand two hundred
and TWO dollars and thirty cents 1885,
202.30) being the adjusted taxes thereon
for the years 1891 and 1892;
On or before November 18th. 1902. the
sum Of seyenty-six thousand SIX hundred
fys @ si5ss being The adjusted taxes @ there here
on for the years 1853 and 1884
On or before November 18th, 1903 the
sum of one hundred and TWENTY-FIVE