The Morris County chronicle. [volume] (Morristown, N.J.) 1877-1915, 1903-06-12

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Lack of space prevents the publ
cation this week of an exhaustive
report made by the special commit
tee of the Society of Political In
quiry appointed to investigate and
report upon the finances of the
town of Morristown. The report
gives an analysis of the town
treasurers' reports for eight years.
For the year ending April 20, 1908,
the total receipts of the town, as
the treasurer reported, were S54,-
-eoo. "a. The total expenditures
were s56,852.47. These receipts,
of course, included the amounts
borrowed on notes of the town,
which at the date of the report
amounted to $4,000. There was
also due on That date S., 100 to the
street department, while among the
other liabilities are listed 81, 700
for hose purchased and not paid for
and for one quarters rent on
hydrants; $1,000 was due on con-
tract for street lighting; 81, 500 was
owing for salaries of assessor,
clerks and treasurer, ard $500 for
police and miscellaneous. This
made the liabilities of the town
$26, 600 on 1.-THE goth of April.
Among the assets found by the
committee were s., o7o.4I cash in
bank; uncollected taxes for 1902 to
the amount Of $1,000, which the
committee says is collectable, but
which has not actually been collect
ed, and some 81, 900 due on fran
chise tax of 1902 which had not
been paid. There is also a tax due
of about 81 900 on property tempo
rarily owned by the city. This
would seem to indicate that if the
town paid all its debts and received
all the money due, it would still be
about $4,000 in debt. The COM
rnittee finds among general assets
land and buildings in Market street
and Speedwell avenue owned by the
city and values these properties at
$3S, 900. Therefore, stories to the
effect that the town is bankrupt are
pure fabrications, for if the town
sold its real estate it not only could
pay its debts, but still have some
thing like $50, 900 with which to
make a new start in life. The
town, however, does not intend to
sell its property, but expects to
raise enough money in the next
two years to pay its debts. Mean
time, the report admits that all
permanent improvements must
necessarily be suspended, and if
everything happens as the commit
tee hopes, the indebtedness on
notes will be reduced to 50, 600 by
next year, and this and other liza
bilities can be taken care of the year
following. 1t is hopeful report
Oh the whole, but close study of
it brings forth no atom of praise for
the administrative qualities of the
gentlemen who are directly re-
sponsible for any embarrassment
that may be felt during the coming
year Extraordinary means must
be taken to meet conditions. This
year special tax of So, 500 will be
assessed for rental of fire hydrants,
the law permitting that to be done,
though it has never before been
found necessary to make other pro-
visions for the expense than in the
usual way. The special committee
anticipates that $6,o of the pres
ent years taxes will not be collected
and allows for the failure of the tax
collector to get that amount. The
budget provides for the expenditure
of $7I,38o.53 next year. Of this
amount $4,000 will be raised
under the new law which permits
the town to raise ten per cent. of the
tax duplicate, not ten per cent. of
the total tax collections as many
persons believe is the law. The
usual $50, 900 will also be raised,
making SAG, 900 from this source.
Then ST. 900 is expected from the
taxes due in previous years. The
Board Of Health tax amounts to
81 500 and the rest of the money
will be received, it is hoped, from
franchises, sewer, excise, fines and
in other ways. The Society of
Political Inquiry has put before the