New-York tribune., 1902-03-05
MAYORS ANNUAL MESSAGE.
HE SAYS THE SCHOOL QUESTION IS THE MOST M
PORTANT-CALLS BRIDGE CONDITIONS A SCANDAL.

Mayor Low sent his first regular message to
5he Board OF Aldermen yesterday. He reviews
the statement OF the indebtedness of the city
and calls attention 10 detailed statement Of
bonds and stocks in appendix TO the report
The Mayor Gays there are four main lines OF
expenditure which must command the careful
consideration Of the authorities and names the
providing OF adequate school accommodations
the most important, calling IT "a problem
OF the first magnitude" He says that S10-
100000 would substantially meet both the ex-
isting deficiencies and the current need. The
second item taken up concerns the water supply.
He gives many facts and figures without max
5ng any positive recommendation.
He recommends Commissioner Lindenthars
ideas for permanent names for the four bridges,
and calls the congested condition Of the Man
haitian terminal Of the Brooklyn Bridge pub
lie scandal. On this point he seemingly in
dorses the ideas presented in Controller Grouts
plan recently published in The Tribune. He
Endorses the Brooklyn tunnel. and urges uni
formity OF fare over all subway lines.
he calls attention 10 the need OF reorganizing
the departments and regulating the salaries ac-
cording 70 some uniform system. and in this
connection refers 10 the bill which he recently
sent 10 Albany for Introduction. He says in his
message that it is his purpose more particu-
larly 10 point out some Of the larger problems
with which the city must deal IN the near
future, and that il is earnestly TO be hoped that
the Board Of Aldermen will meet the RESPONSE
bities involved in their enlarged powers in such
a manner TO justify the confidence Of the
charter makers
The message is a follows:
In accordance with requirements OF Section 1l5
OF the Charter ] have the honor TO submit mere
with, attached 70 this report as Appendix A. the
81. is6i This statement m is snbmitted in the Gus
purposes
statement IS little confusing. because it does
not distinguish between special revenue bonds
ana the permanent funded led debt and -, because s1T
55p Si115s W Tn oTSar ~ % s,Ir1ieT1ent the ITforna
tion thus given in summary. I submit also. as
Te1diS q aetailed ststernent Of the bonds ana
stocks issued during the same year; as Appendix
d, a statement showing the transactions of the
Appendix s. a satemenf @ showing in detal the the re, s
eeipts ana olsoursemeents OF the several sinking
the Budgets Of iSss iso5 1901 and Is2 except that
defs With the oheTs because Of the changed on
gsnizaton OF some Of the departments effected
by the revision OF the charter
THE FUNDED DEBT.
Asking reference to these statements for details.
the following comparison VIII be interesting:
psomSsE g. 1891 gross 9sa fgndsa debt $50 is 2S 3 81
eross increase. ....... .......-. SOS 356 324 %
The gross funded debt as here given. consists CT
% long term bonds, and % OF special revenue
The special revenue bonds are issued for various
purposes, authorized by the charter, and are
redeemabe out Of the next succeeding tax levy.
There follows analysis OF the foregoing hgures
from this point OF view;
pro,. funded ssss ssS2zs 6,
Less special revenue bonds
20 be psii the follow -
ing ACKNOWLEDGEMENTS o'Sos.oSo IS 4S22ss1 80
Gross permanent funded -, -, .,
debt SSe4so1fooo 20
less all sinking funds in
cluding both Investments
and c6sh--.----- 1lS1O1,oS4 % l1o.34O S2O ~
Net permanent funded de5t s2S5
Increase the s2oas2 52e 81
There were Issued during the year altogether, in
addition 10 revenue bonds issued in anticipation of
the collection OF taxes bonds amounting 10 little
than SO 10000 and there redeemed
bonds amounting TO G6.5o4Ooo-
GROWTH OF THE SINKING FUND.
It thus appears that the net growth OF the sinking
funds during the year, 81 000,o00 has offset more
than 3 per OF the gross increase OF the perma
nent funded debt When IL is considered that al
oil Of the bonds Issued IN 1901 for forty
fifty years and that in this sum included S1l,
coo 600 Issued for the rapid transit railroad which
VIII be redeemed out OF the earnings OF the road
Itself. e is clear that the growth OF the sinking
funds, a, whole is out Of all proportion 10 the
actual requirements OF the debt This inference is
strengthened by the following table. showing the
OF bonds issued during the last four years: