Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1901-01-24

lutttlllS, MI IdNls, VI JIG optCl1l O~-it
mittee on lights, reported that the wording
of our charter on that point was exactly
like that of Millville, under which the
Courts had decided there was no authority
| to erect light plant Under instruction
of Council, Mr.. Davis committee is now
empowered to go to the legislature and have
the charter amended.
, The Finance Committee reported the
accounts of City Treasurer correct, also the
report of the Treasurer of the Sinking Fund
and Deptford Trust funds:
BILLS PAID.
w. H. Barnaby, relief. .............-..-.. SIS q
f. H. Jones .................. &C
H. W. sharp, ..... 0C
F. W. Hollfngshed ianitor. .........-.. 4oC
e. Redfield ACKNOWLEDGEMENTS. so 0C
E. Redfield, sundries. ,................... 2 0l
/ A. A. Stokes, poor acct 10 sc
D. f. Hendriclxson. relief. 9 OC
d. F. Hendrickson, corn, oats, BRAN. 10 &c
E. D. Knisell, repairing harness. 4 AZ
4 c. Thackara brick Observation-Disclosures. 8 0C
j. Umbrine salary Observation-Disclosures. 40 0C
/ ID. G. Pine labor ON inlet. ............. 26 90
i HI. w. Sharp, hauling. Observation-Disclosures. 90
| f. j. Blatherwick, printing. .............. DO
Bill for curbing in front of McGeorge
property on South Broad street, was re
ferred to the Solicitor for collection.
Pittsburg Oil Co., oil Observation-Disclosures. q OF
| G. M. Wiltsee, wood Observation-Disclosures. IL 90
$. f. Wilmer Jan. sal. Observation-Disclosures. 100 90
J. @. Ford, Jan. sal. Observation-Disclosures. so 90
Mr.. Best, of the Water Committee,
moved that SIS, 500 be transferred from the
general fund of the Water Department to
the Sinking Fund. Carried He then
moved that an order be drawn in favor of
Philadelphia Saving Fund Society for
$40, 1000 in payment of ten water bonds of
81, 200 each, due Feb. 1. Carried.
Mr.. Best also moved that an order for
81 ,249 be drawn in favor of same, interest
on bonds due Feb. /.
Mr.. Best of the Water Department,
moved that the recommendation of the
Water Superintendent as to the purchase of
a new pump, be adopted, as his investiga-
ton led him to believe that it was neces-
sary to have same.
Mr.. Best entered protest against the
assessment of commissioners on the Knights
Run road, in that whereas the city owned
one ninety second of the frontage, yet the
assessment is one-ninth of the amount of
the gross assessment On motion of Mr..
Reading, the matter was referred to the
Solicitor to make the city's protest. The
city's property on the road consists of
pumping station
AFTER TAX STRIKERS.
Clerk Mathers read communication and
resolution from the Borough of North
Plainfeld, as follows
Borough Of North Plainfield, N. J.
Mayors Office.
January 3rd, 1901.
Gentlemen:-By chapter 213 laws of 1898
it is provided that any person owing money
to any bank, borrowed three months or
more before the time for making of assess
ments for taxes, can have deduction for
the amount of such debt made from the
assessed value of his real estate.
As the great bulk of money loaned by
banks belongs to depositors, it pays no tax.
Banks are assessed on their real estate, and
the stockholders are assessed for the value
of the stock, but deposits are not assessed
at all.
The result under this law is that the
taxing district in which the land is located
loses the tax on the land, and no tax at all
is paid on the money borrowed.
In many instances the bank is not located
in the same taxing district as the land. 1t
is well known that the great bulk of per-
sonal property escapes taxation, and under
this law an increasing amount of real estate
belonging to persons whose credit at bank
is good, is being withdrawn from the tax
levy. The result is great injustice to the
poorer citizen who cannot borrow on his
note, and who always gets the worst of it
in such cases.
To illustrate the working of this law let
us suppose that Sap owns land in North
Plainfeld, Somerset county, of the assessed
value of $1,000. The tax rate is 81 on
500, or S24 per 1000, making his tax
$120. He borrows from a bank in Plain
field City, which is in Union county, $1,000
for three months. The discount ON this
loan at the rate of six per cent. is $50. He
pays the discount, claims a deduction of
S., 600 from his lands, and the result is that
no tax is paid on the land nor on the bor-
rowed money either and he has saved the
difference between SIS and $l20.
IT, however, he agrees with the bank
when he negotiates the S., 900 loan that he
will not draw out the money at ALL he can
probably borrow it at the rate of two per
cent, or S25 for three months and in that
event he is in $685. while North Plainfield
has lost $120.
This law is an outrageous one, conceived
for the benefit of the wealthy tax shirker
and tends to the manifest injury of the
honest citizen, and the poorer classes, who,
IL Is well kHoWh, pay tlle lalSeSt pfopoI-
tionate tax.
Enclosed you will find copy of a reso-
luton passed by the Mayor and Council of
the Borough of North Plainfeld, and it is
earnestly hoped that you will pass similar
resolution, and petition your representa-
tives in the Senate and Assembly to assist
in the repeal of this most unjust law.
Prompt and concerted action will, beyond
doubt, accomplish this worthy object.
Respectfully yours,
n Ss&fA