New-York tribune., 1909-12-12
CITY'S BOOKS AWRY
GL4RING ERRORS.
Father Knickerbocker Sells
Oscn Property for Tares.

The eity's slack ways OF running It's book
keeping are Elaringly illustrated by discov-
cries following the sale OF tax liens by the
Bureau Of Arrears under Daniel Moynihan.
Mr.. Moynihan announced yesterday that
in recent tax arrears sales the city had
sold its own property to private purchasers.
guaranteeing u per cent on the amount Of
the liens. only 10 find upon investigation
that the property was its own and that the
city by selling il and guaranteeing the in
terest on the lien had obligated itself in
dozens Of instances so that it was a loser
both in labor and money.
on June 10 last Charles II. Jones. who
has considerable waterfront property.
bought tax liens OF ss.4s5 on pier properties
between 57th and 3sth streets. East River.
The city gave Mr.. Jones a satisfaction
piece" and armed with Il Mr.. Jones went
down TO the piers TO take possession. He
found them already occupied by contractors
and steamship people. who told him that
they leased from the city through the
Dock Department. Mr.. Jones then went
% the Dock Department and learned that
the city had owned the piers in question
for fifteen or twenty years. In the tax
office no attention IS paid 10 the ownership
of parcels. the tax charge always being
entered against the property itself The
city about twenty years ago bought the
piers between S7th and 5sth streets. but
never took the trouble 10 change the name
Of the owners on the tax books Mr.. Jones
went back 10 the tax Office and reported.
and after an investigation his money was
refunded. together with Il per cent or his
investment.
Daniel Eichner bought a pier at East
5th street paying SOS 55 70 cover the tax
arrears. He travelled the same road taken
by Mr.. Jones and found the same thing
that the citv already owned the property
the record not having been changed when
the city bought It from private owners
Mr. Eichner got his money back plus the
Il per cent
Another disappointed tax lien purchaser
was n. Lippmann. who bought an alley
between llst and A2d streets and Eighth
and Ninth avenues which on the city plan
was called q street. The lot was put down
in the books as No. 221e, block 1884 and II
was assessed as private property. Mr
Lippmann felt rather important when he
walked away with the credentials for a
public street in the heart Of Manhattan
When he gave notice that he proposed 70
fence in his lot. the neighbors said they
guessed not" The eiEht-foot alleyuay
was assessed as private property. but
actually owned by the city II II had
been closed up the tenants on either side
would have been put TO great inconven-
fence in dlsposing of ashes and garbage
Mr.. Lippmann returned in disgust - the
tax ofice. The sale was cancelled and Mr.
Lippmann received his money back and
the guarantee OF L per cent on his invest
nent. AS he had had his money invested
in the parcel only eleven days. the interest
was trifing. and he vas sore" because
he had wasted so much time on the
speculation.
The only redeening feature % such
transactions said Collector MOynihsn
yesterday. lis that after they are closed
UP the city knows who owns the property.
II Is a little bit tough. however. or the
Speculation who counts or making q lot Of
money on the deal"