The evening world. [volume] (New York, N.Y.) 1887-1931, 1908-12-08
DIGGING DEEPER
INTO THE C|TYS
BUSINESS WAYS
Legislative Commission Gets
Testimony on Increase of
Assessments.

Preliminary to the examination OF wit
uesseS at to-duys hearing before the
committee appointed hy tie Legislature
TO inquire into New York City's finances.
Prof Collin, of counsel to the COM
mittce. said Nv, believed IL t. he the
committees duty to either recommend
the adoption ur to dlsapprove the pro-
the city's debt limit.
"All payments for interest and the
principal as they become due" declared
Prof. Collin, become mandatory, and
all mean additions to the budget. The
present law requires that no city or
county In the state shall tor any pur-
pose or in any manner exceed in its
debt 10 per cent. OF the total assessed
value of the real estate in said city or
county"
Prof. Collin added that the committee.
should it disapprove the proposed law.
could offer a substitute defining the
debt limit provision
Value Of Real Estate.
Prof. Collin said that he would put
in evidence a statement moving that
the assessed valuation of New York City
real estate was approximately $500. eco,
ooo in 1899 $500 100000 in 1902 i,75l. co. oOo
in 1905 and s6.722, ooO.Oco in 1903.
apparently" he said. the large in
crease from 1903 to date was made to
keep down the tax rate"
Well" sad Senator Cassidy. chair
man of the committee, the increase has
amounted to doubling the valuation.
That would mean II the taxes We're TO
remain the same tax rate OF one-half
what it was
In 1902. replied Prof. Collin. the tax
rate ranged in the various boroughs
from 1884 to S2.74. In 1893 it went down
to about one-half, from 1913 to l496 per
thousand. At present it ranges from
l6.l4 to II. 30. -
Prof. Collin offered a statement show
ing the funded debt of the city for each
year from 1883 to 1905.
Commissioner Foster Cromwell. OF the
Department of STRENGTHENING, was then
called. He said that he looked after the
streets in Manhattan, Brooklyn and the
Bronx
Asked About Discounts.
In reply to a question as TO whether
he had undertaken to ascertain whether
he was now paying the lowest possible
prices Mr.. Cromwell said representa-
tive of the Finance department had
told him that %. 10 and 5 per cent. dis
counts could be received, and that he
! had asked for the names of dealers who
! would Civ. such discounts.
| You never, yourself, attempted TO
| make purchases from Dealers"
NO" the witness replied.
! Asked as TO the purchase of coal, Mr..
Cromwell said there We're scales in the
various stables, and declared his belief
that tie local employees We're perform
ing their duty and weighing the coal.
vouch for this, he replied
no, l cannot give personal attention
to all those details"
Senator Cassidy asked Mr.. Cromwell
who had appointed MIN
The Mayor" replied the witness.
Does he give you instructions as 10
your work 90
He frequently sends for me and talks
to me about the work
Not UP on the Figures.
What is the amount of your requisi
ton for next year, asked Senator
Cassidy.
I cannot state offhand,' replied tbs
witness,
Can YOU state within 100000"
Within 100000"
NO"
DO YOU mean To ssy that YOU, As tn,
respOusible head of the Department, DC