New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-01-11
MAYORS ANNUAL MESSAGE.
DETAILED STATEMENT AS TO THE CITY's
DEBT.



RAPID rRANsrT-sc SCHOOLS AND BRIDGES
Mayor Van Wyck yesterday sent his annual mes
sage the Municipal Assembly. II begins Win
n statement OF the cltys debt and gives IN detaii
the items OF the funded debt as recorded IN inc
books OF the Finance Department. The to'aI gross
funded debt is stated TO be S3$32o9 lz o. anu .'e
amount I'm the Sinking Fund is $50 o58 81 81 leaving
funded debt OF t2H SIS 81. In addition there
are outstanding bonds OF several corporations now
included in the city about which there Is pending
litigation az their validity. They amount TO sew
eral millions OF dollars Referring TO the deo'hmi'
scare Of last year. the Mayor says:
The Controller, in a communication aouressea 10
the Mayor dated April o. 1893. estimated that II tne
Liabilities Of the nd Tor street anS me city debt It
would be found that he new city was aeDlss nv
the ' huge &c sum SUI sV Of $50 iss a.G o. sol, ,n,,
Subsequently ;he Corporation Counsel neld Inat
ings be regarded as part OF the ely
Indebtedness within the purvew Of the bs
large contracts Of the Aaueduct Commission; me
cost of which deRened upon S6ua be exced from
a statement Of such Indebtedness. AZ result to OF
tracts which had ro been compse' ,Se etys n
i0 oTry it, S eonsDona limit on
airy l. 1898 was found 10 be sl3.5 SO 90.
WENT INTO EFFECT IN JULY.
On the nrst Monday OF July. 1898. a new assessed
valuation OF real estate went into effect IN the DOT
oughs of Manhattan and The Bronx, which showed
per Of which. s692s lib 20. was avahaoie IN IT,
ducton OF the excess above referred to-
In my message Of January g. 1895. after referring
TO the finances the city they were then under
stood to exist; stated c,,y hT submit without
other comment than that 1t must imprsss 80
with the stern necessity for the utmost Chu
ton in the authorization of any bond issue untia
have provided greater margin as rnscr,bed
percentage Of real-eState valuation preSci ipeu
in the constitutional limitation and our outstanding
''ster
ali the more inpressiveiy realized as the financial
sharp halt had to be called in the exravagant use
OF municipal credit: which during me ;e@r ~ nrsr
character The financial oI
into the present city The hnansa, ~ CON-
sodation demanded that TEMPORARY perEn vi re-
lend be b, r 'f Ss pcy has BEEN
rIed out G0 to the Letter since January 1885 no,
dollar has been added to the rnmns nDdeY
taken subsequent to that date, though In some some
cases ~ ~a IA b Year 1888 to provide funds for the
liquidation Of liabilities incurred prior TO tna year.
1ed' This latter course, however has not added 10
the citys net indebtedness, merely e ndenced by
' The Total bond issues Of the year 1895 excluding
revenue bonds issued In anticipation or me s
ton OF taxes 1895 a redeemed eSS s a src
| sneciai revenue bonds redeemable from the YAK
levy OF lss 1865 424 oS were assessment o9 fo the
fi;n,1stion Of liabilities incurred for public I'M
| provements OF various KINDS
TOTAL OF APPROPRIATIONS.
| .,,or rarorr,ne 10 the methods OF making up the
c,tv., budget for 1893, the message continues;
| The total Of the appropriations mace ny one
h BUaTn .. in iSS was s5s2 81 The aggregaie
sum Of the 5naseis When consolidated
fe short OF this amount by Nd''so ~ IIS been
c,p orIoyoed nv the Charter Commissioners that
in many instances the fiscal year b OF Calendar
Year IsSS and that funds had Therefore been Pro.
by them only tGT TGT hSs p G sH' workable
omen TO one serious objection ny MOVING , ,ss
CEN ,h tsx levy OF 1899 the budget Of the current
year has been abnormally Increased % ''S SUI"
o. The budget for 1893 has further been aDporm@ly
swced by obedience to tnr az sree, and park
openines. which require the Board o, Estm aaee
and 9clv hsa in sai in he fund TO
pay ali claims for the awards and COSTS IN al pio
to thai time conhrmed; and which awards snai
not then have been paid ,,,ass, FOR 1899 for this
,uns - su si4ssss S. most which was REQUIRED to
pay the awards in proceeding, S 20 IN anv budget
PRIOR PRIOR to 1899 this purpose was sS tssr IN 5s
| a. ABNORMAL one to the extent OF more ina"
Tron' tho gross budget for 1899 there will be de-
r.oli I'VE ne ssevenues OF the general fund Tor the
year 1899 which are estimated 10 be about syynd
ana ~ ma CCnntroer TO the Municipal Assembly az
ne mount 10 he raised by taxation In me year
! 800 FOR the reasons stated above the laM lc,1
! tcr the current year. having been abnormaLy II T.,
| oraasaa nv causes incidental TO consonda',on' -
! az LIS, sO pA n0 I'm excess OF what may De r.
! aerHed as an average budget in any year suDse-
Quent 20 1879.
FOR PUBLIC SCHOOL BUILDINGS
| o,ber nortions OF the massage are the following:
reneat the statements which made IN my mes -
SAGE ~ YOU I'm 1895 that ample provision shou,d ne
nsSe for the education In the puplc sShoo's r. W
n child i'm the city entitled 10 enter them IN
| pnard ~ Estimate and Apportiohnent IN VIZ ~
nudge, for 1899 has made provision fot tnc issus
| honds FOR schoolhouses and sites 10 tne dnount w
a. "a so md these bonds will DO Issued az occds
,,o,cntres have by letter. called the persona d,
,T,ion OF each member OF All the School bosrus ga
I hs horoushs Of the city 10 the fact th,t tne pr
| "isinc ~ ALI necessary accommodatioh ior schooI
| .htdren can only be reached through ulIiSeht All"
nnrsis,ent EFFORT their part ,,oo .,
II nv message you Of January. 1888, Sau
.ha, ",he con soldaiion % the several porousns III
q einole municipality will undoubtedly create ~ ~
nnossitv for additional BRIDE COMMUNICATION De.
tweeH Manhattan Island with iht DorOus.,s w
,ear made II manifest that such bridges wers III,
al a necessity and that their compeuoh AT, a, -.
earlv date was public work OF thr higheS' ''i
tance IN the municipality AZ "A Whole. ., ,,o.,
'aI IA, 20 y narrow and unsound vew to regard ines.
Arideee as solely I'm the interest Of the p"r9uehS o
Queens and brooklyn No one can DOUBT mar me-