The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-01-04
o.. AGA. 7os. 1893 o997.45o.0aO /

These figures show the total assessed valua-
tion Of real estate in the Greater New Y ork to
i Ss sGa sst; sss' t .s 5: sn sa 3: Ssst%ssid net Fs tsnsi e.
ss;IsssI ll$ e ' 81 fs9sh %i iasasb %'sH'a se e S sSoss
%troiler's e once IN ' the city city q new York Y KIT to issue
isations made By the Board Of Estimate' and
Apportionment for public Improvement only as
other otS m DaySme ~ sa" The a@ereSSte balances Ar Of
bonds Ss%s already airS "a N aSth erie b to be Sot tss Scsa. ~ the he
sued on Dec. 81, 1897. amount to moro than
This amount represents, approximately future
| on account Of contracts entered into BY the
former city of New York. =.
al so be- s%ea sdaed The 10 t eUst Of "% sSeh pub shsrf im Sm +
monts as the ecquisition OF lands for the sew
s5sl public uadI PARKS i the Elm Eb1cS street cot WIDENING vide naG &c.
The amounts cannot be ascertained until the
awards for lands are confirmed by the courts.
run into millions of dollars:
Tho average revenues Of tho sinking funds
COED CT 'h 80, StsS 900 q s ssS Year. s sSS' is vl s1;
Of the fact that 4 10 the net debt q , the
nishes the, standard, according to which 10 do.
termined the city's de6t.incurring canacity un.
q ae very GSns short While to come safe sr1' within itdhIiH't the
limit of indebtedness SO prescribed.
to there is still another matter which should DO
made known ct this time, viz: The contract liza
bilities entered into recently by all the borouRhs
and for which the new city may DO held liable.
The full amount OF such contract liabilities and
their purposes will DO discussed in q subsequent
message.
This exhibit of tho financial condition Of our
city j submit without other comment than that
sity for the utmost caution in tho authorization
OF any bond issue. until We have provided q
greater margin as between the percentage OF
our real estate valuation prescribed In the con-
bonded debt. Such margin, required for the full
protection OF the investors In our city securities.
may be obtained ~ by an increase In tho revo.
nues of the sinking fund for the redemption OF
in the valuation Of real estate within tho city
limita ms 10 certain to follow tho advantages do.
rived through the consolidation. OF the several
boroughs. In another part OF this message ! call
the city's credit with every possible safeguard.
and I I'm therefore only required to here add the
assurance of my firm bolief that In every under
taking In this behalf / shall have your willing
and effective support.
Tho radical changes which tho provisions Of
tho new charter mako. In the several depart
a problem which must be met on the part Of the
city officials with intelligence, caution, and In
dustry and. on the part OF the public with
patience and hearty cooperation. It 10 Inevitable
be wholly organized to undertake and dischArgs
the consolidated business. heretofore distributed
among the several departments, boards, and
bureaus throughout, the five boroughe. tina!
friction and delay for which there would DO nc
excuse IL the Jurisdiction OF the several depart
SHOT Including SiIs,O 600 local Improvement boadS
! the validity OF which 10 In litigation.