New-York tribune., 1902-03-16
WANTS BIGGER DEBT LIMIT.
CORPORATION COUNSEL, RIyES SAYS
IT'S NEEDED, AT REAL ESTATE
MEMS DINNER

Real estate men gathered in force last night
at the Hotel Savoy. They had a good dinner
plenty of good singing from colored quartet,
and the speeches had n them just enough
shop" TO be interesting. 1t was the sixth
annual. and the best dinner held by the Real
Estate Board of Directors of the City of New
York. At the guests table were General Stew
art L. Woodford Charles V. Fornes. president
Of the Board of Aldermen; Senator julius H.
Seymour. Tax Commissioner James L. Wells,
Lawson Purdy, Corporation Counsel George L
Rives, John F. Doyle, Senator William S. Ben
nett John P. Leo and Charles o. Mas.
The speeches were brief and informal. Cen
eral Woodford complained that the rural dis
triCts had a great deal too much to do with the
legislation of New-York City. He said that
New-Yorkers knew better than any else
what wanted here. He said that the time
would come when the majority would rule. He
hoped to the time when the city would rule
the State. When that time arrived. he added.
II would be we'll to remember that the farm
should not be for the benefit of the city"
Corporation Counsel Rives the next speaker
said that the pleasure of holding a public Of
flee not unalloyed pleasure.
You see" he said. the newspa pers do not
spoil one by fattering him. work harder now
receive less pay and get more abuse than I
formerly received. Those who are afflicted with
the itch of holding public office should remember
that 1t is not a bed of roses
Every real estate man knows how drearty
tedious Is the present system of condennat ton
proceedings. Much time is lost. and much pa
tience too. I have felt that should like to
introduce some reform In this direction. Be
cause IT is such a task and because the evils are
so deeply rooted, I think the real estate men
could help me a great deal. For instance. the
commissioners sat seventy-eight times before
they finally arranged for the condemnation Of
piece OF property in The Bronx which was
needed for park purposes. This should be rene
died.
Then there is another subject which greatly
interests me- and that is the city's debt limit.
think the city should be permitted to tncrease
this We should have a constitutional amend
ment to this effect For forty years the city has
borrowed for the sake of making Investments
The SAT 900 900 spent for docks is to-day worth
nearly double that sum- We borrowed S3l.5O0,-
900 for the tunnel. These remunerative in
vestments will rebound to the citys financial
good and We need more Of them"
Charles V. Fornes. president of the Board Of
Aldermen paid tribute to the real estate men
present for the conservative, and at the same
time progressive influence which they welded
in civic affairs.
You are the advance guard Of the city's pros
perity," he said You blaze the way, show to
the outside world how great our city is. You
teach investors the value Of property here, and
extend credit
MT. ForneS also feterred 10 the fdCt that to
him public office meant no rose garden. saying
that between the newspapers and himself he
found MISUNDERSTANDING on both sides
Edgar J. Leary president Of the Title Insur-
anCe Company. made a practical speech, which
was we'll received He thought that II was
the duty OF the present administration to con-
slider closely the city's budget He said that
a few newspapers and very few citizens
understood what a serious problem the finance
OF a great city really He hoped that the
great plank I'm future platforms would be econ
omy. He believed that the real estate men OF
New York appreciated his position.
Among those present were II. De SeldinE. J..
Edgar Leaycra:t, Bryan L. Kennedy a. z. W.
Kinnan, Arthur s Cox, Walter Stabler. John
J. KaVanagh, p A. Geoghegan. DR.. James a.
Gaylor Charles A. Easton. Frank r. Houghton,
Charles f. Schuyler. Samuel Mcmillan, DR.. John
s White John l.. Parrish, j. Clarence Davies
and Charles Griffith Moses.