New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-12-10
NO FEAR OF CITY CREDIT
WEED OF # CURB SHOWN.
Grout Reports to Board of Estimate
C;tIs Financial Condition.

.-,,,.- c,roue presented to the Board OF Esti-
-. yesterday e. statement of the city's financial
s,,,on showing that the present borrowing
-s-,tr is $50 $50 24s os. Bonds fully authorized on
-, of contracts and for lands acquired on
$500 1904 amount 20 So. 2o4s77 10 II this sum
cc1 - ,ssned now II would reduce the city's
--ort,g capacity 70 ASS 265 &c. The Controller
IS however that such issue VIII be distributed
aver the next two years.
:, The opening paragraphs OF his statement tle
,--rorer showed that on January l, 1855. the DEBT
s.,,sing county Indebtedness. exceeded the con-
.,ovsI limit BY S20lG 1872 4. The deficiency had
- g-a6ually made up until January l. 1904,
- ,,v had g margin OF borrowing capacity Of
zrs.sss.2m 90 ,, SOS
49,, Sses ~ 76I A. including county Indebtedness
a. ss 81 S. to sE46ss $50 80 or October ! 1904
rsIvs OF county Indebtedness Of 81 42255l Z, and
-,,,sive also. OF S53oeo0 OF revenue bonds issued
: ,oU The total increase since consolidation mas
h., z7E 10 ss1 -. percentage increase Of I9'o-
table showing the amount OF corporate stock
,s assessment bonds issued annually 10 the plbAc
az to the Commissioners of the Sinking Fund for
t-Testneuc since consolidation gives the total
a, gsl5i 60 corporate stock and S5,5ooo9o assess
eut bonds 70 the public. and S60SSs952 Sc corporate
sosk and IS E4 l oS assessment bonds 10 the Sink
tng Fund, aggregate Of 2-9.S2457s 81
Ta sources Of annual increases Of the city's Dor
-ov-rg capacity show total since 1898 OF S4-i'-
s83g II, mace up ~ the ~ Per SS4'N "a '----
Increases Of assessed valuation OF real estate th>
debt redeemed annually from taxation and assess
r-ent. and the net revenues OF the several SINK
,,r funds
The Controller shows that in the five boroughs
s4ssa e122s has been actually expended for i'm
--over,ep.9 and that other work has been
,+o-,-e5 which brings the total So A9 739 81 A
--s-z, If The existing obligations for assessable
local improvements authorized and not contracted
.or and those pending before the Board of EST
mate gives q total Of S5l544.6Sl IS. with local i'm
--orere-ts awaiting authorization by the Board Of
rts-s ~ g a5 200 or grand total Of SIS IA 9s1 Is
+.rra % r-. amount % a-rearsges Of re-sonaI
srs realty taxes gives these figures: Personal
taxes tIucolIecJble). S5l55 Isl 30; real estate (G
goo6} SO 4-s 7ss 81
-. - :,
he'1't---e ~ '-@o az ''Io = NJ G-o-LH report
sas
Without doubt the arrears Of real property are
esse taxes ,hien IS ac5ted bv the decision Of
III Court - 4 ppealS but The arrears o. personal
- i-a- f frn- "a ms IL 5il tf
budget amounts To somewhat over S. c00n0 leaving
G balance q about S-7tStg" for arrears OF per-
ic ..4 -=' '-e MAYOR 4"-'' o. "i'1l Is 1I-cOl-
The city cannot hope 70 carry such a deficiency
forever. It's IS growing bigger year by year It's
~ -e-5-o-sr1 -5ss ~ o-Is- r-5s in L--75 f,f +ris
course cannot be continued, and eventually this
heco ant must 6e nlsoe Gooo by tAe issue OF cor
poIal7 S'och me Lover 70 lss-t CoLDoIdle STOCK
e nae eeod s-CH eL--es "a ne coIieel!on
q personal aLlo lgaIlense ts>es Goes hoL now exist
ard / reco IlInenl thaL L.ls DoaTd seek 70 obtain
lcl power IoF me Oily a. t"7 HeAt session OF the
legislature
srerfal table shows that since Tarusr,, 800
-. 80 -. 1---4r..+. ~ .,.t.-s.s -, -
proveuaents to the amount Of s17,012 go g.
~ c-o,7- e7,ss IN =, cav, 49, IT., ~. 1900.