New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-09-02
HEA Wy BURDEN FOR CITY.
COLER SENDS A LIST OF
THE BOND ISSUES HELD UP III
MR.. GUGGENHEIN1ER.

Controller Coler yesterday sent to Acting Mayor
Guggenheimer letter inclosing the list OF Doiu
issues that have been held up by the Munlclp@i
Assembly recently. stating that the delay IN lssu
ing the is costing the city nearly SlVVo uay
in interest letter said that II is unhece9sai'
to call particular attention to most OF the pro
posed bond issues. the necessity Tor Whch was
considered fully by the Board of Estimate ana
Apportionment when the bonds were authorlAeu'
His letter continued:
AS to the following issues, however, deem II
proper to direct your special SarcuIarly
heavy and unnecessary pecunary loss on acGouH NJ
of the delay in obtaining the requisite authority 10
Frs@S 1851 o. corporate stock for awards to
Reade SITS. Borough of Manhattan The tue to
10 ISL Since which time interest has been running
at the rate Of per cent the oR persons f be
well satisfied to allow the city to continue paying
waste was of the public funds is obvious;
Second 81 e. corporate stock to 7,i acquire
Ward, Borough of Manhattan. Title. vested June
p 1871 since Theh dfe Tbe mas I9sn app
as TO the preceding item -,- -. LII. .,,,oo,
site Bronx. Title vested February 26, 1898 since
FourthNS147 07S 81 corporate stock for lands for
courthouse Twenty-third Ward Title vested June
Fifth-S52i $50 So corporate stock for awards for
lands required for park bounded by One-hundred-
and-eleventh and One-hundred-a fourteenth SITS,
ruary l6, 1900 since which date interest has been
running at the rate OF per cent ,. ,++,o
Italy Park Title vested April q, 1899. since which
time interest has been running at the rate OF per
seventh-s25O.ooo for awards made to property
owners in the Borough of The Bronx, for damage
done to Propery by reason or OF craze
interest runs at the rate of per cent from the
various dates when the certificates of awards We're
amount of this proposed issue. The delay in max
ing these payments works peculiar hardship to the
citizens whose property has been damaged Most
Of them small property owners whose houses
duced pitful straits by Of the inaction of
the Municipal Assembly.
lands taken for the sanitary protection of the
Croton watershed Interest runs at per cent from
the various dates when title vested
In all these cases the Municipal Assembly has no
by commissions duly appointed by the Supreme
Court under acts of the Legislature authorizing
reason rtt Of the delay Of the Municipal Assembly in
authorizing these issues, the city is mourning IN
necessary interest charges of SAILS 90 annum,
1894 81 per day.
the Appellate Division Of the Supreme Court in the
Hall of Records case, any person interested IN
semSly to anthorze the issue Of these bonds Tn
fortunately for the city however, the large owners
city to continue to Pa Se e Ggn pToperT on o The
ers can scarcely afford the expense Of mandamus
sincerely hope that Your Honor will officially
bring to the attention of the Municipal Assembly
the serious results of the neglect Of that body in
respect to these issues.
Acting Mayor Guggenheimer communicated with
Councilman Goodwin and Alderman Muh. and
asked them to call the attention Of the finance
committees OF the Council and Aldermen to the
Controllers letter and have the bond issues
ported with as little delay a possible Council
Goodwin said:
the Controller has only been introduced since July
n ana we nave not i, had IwentyIew9 members
vacation. Mr.. Coer is making unnecessary noise.
He shouldn't be permitted to make capital at our
expense.