New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-01-24
nEBT LIMIT WIPED OUT
arp ITINS SENDS REPORT
TO GOVERNOR.
co,,roUfr Nets Thinks Charter Re
,Js;on Committee Is Urong IN
IT'S Deductions.

--iuianY N Wins. chairman IF the New York
- commission yesterday sent 70 the Gov
= -i,e result of his investigation of the pres
: debt margin Of the city, and reporting it
- y-fned out He says that by erroneous
z+-,,c+for Of the constitution the Finance
.-+-rsn+ has omitted 70 charge against the
- .4eht items aggregating S13.5So.00o.
fIor+ro1ler Metz told Tribune reporter yes
-, that Mr.. Wins construed various debts
.radi1s enormously and that the debt mar
az given in his statement to the Mayor
= ysrra-v I. showing that on October L of last
s'l ++a margin was s44.oo0.000, and that be
-, then and January l s2o.000.000 of long
.or6s had been sold. The Controller said
- .he. civ for some years had turned its bal
- into general treasury fund, so as to use
-, money when needed and thus save interest
= rracia1 revenue bonds that would have 10
- ;rz,ad r. the general fund money was not
dsvn upon
wr Iyins-s letter is, in part. as follows:
Ca the communication TO you Of the New York
CARER csIher II 1a0s we have made further
Testisation Of certain Items OF the CITY accounts
"a ne result bears directly upon the matter OF
an sa r5fve Borrowing capacity under the present
constitutional liJatloa tnaL We ,,, II o
20 =! srns7dnlent and the methods Of calculating
me ct! s my statement furnished TO the char
II con,-rjssion BY the Comptroller in June last
Of
tss Sn year is6I and Years prior thereto. against
. shich only oee Of revenue bonds were re- out put,
proprlalon p - 70 some & 0Joeoo OF claims then
o as5gsz sn6 in process OF adjudication Thus the
pelaie IL 80 x Al0 90 for appropriation purposes
e t,b n as derived from some undscosed source
= as attributed by the ComptToIlers once 70
- IL fy15s etc meaning thereby special ana
'-nsL Lnas re ,5nexpended credit balances of va
rous accounts but no more spefine nnstion
- The Accounting. extending back over many
years. 80 -.aso-s Il would entail much addi-
,io,s, labor and expense 10 take as a pass I LOT
The inquiry g IN IS fbsf q May 81 1905 and as the
ssme purpose viii BE served ny 1ahnk az +Tst Of
5000 q feg7 (say January !; lssl we i mVsI
~ roI1Dd amounts only. as tlat VII sIIc ,t+sr
ticn is respectfully directed 80. CO M,
Uooeoted Pe:ses s+,& 81 1907 o. take.
gE05s6y ;, un nee e5s3t Of 9'P Drvisohai
,,o1rr --......----
s-srsbs for appropriation purposes 500 oeo
5ssb in al that .VoOCv
...-.....-..- sos. SEQ. 90
ssss Ne 5, e'f fss s5sr .i SVsS5sss
ing IS cai-ns unsettled partly in process . 49, ooo
- Adjudication. SIS 600 eaO------------- 2Sop''E
c .E5 sis f hsFs IS bssa derived from unoo
Assns5 this 2t1 reTsnue oo1s sle 50 coooo
-. ..,,. -,.r- r. round figures. SIS s0oo 900
row appears thar This dehciency was Tnaae
sood BY The OF special and trust funds
-hssss.7ne,t accounts. COMPRISING fun5:
acquired By the city through the SAFE
bonds Ger street and park oPeniTgs as. as We
s a. .ois s.se sa'e on TINS .ezit co onn
s-o0asTrus funds proper per iaeIqdnE a ?e
Cameo , ya5s9s: s hesiss Estates and
Third-SPecisI account, including aeposi'S
made WITH :he city against its liability Tor
restoring ard rsQavfng streets ano ne IN
aggaa'ed q 'ahee OF me $4,000
r5 397f The BALANCE at TIE credit
o. ms account arises from the assets Re
csvsd the several borouGhs at the tine
uf oonsoli5a1ou. as far realized. in excess
q the payments made On account Of the liz
hlhties II the various boroughs assumed ~
TIE city; this account is chargesbe with the
Interest upon bonded debt OF the differ
sut ho-o1shs aud TO some extent has oeen
cha-seo vita me paSlfleIat OF - re H. -'-
ooI9k' ms I.so.iCs 1890. "a r+eTes+ Of
~ ~ DoI ts1s2io r-o'as 400 cOo
Fs,ib8EEcise funds. These funds. recovered in
ISE, sfter The payment Of several Of the
tben re-e carried forward into the foflov-
ing year when. after further deduction. Tor
~sre carried into tie general fund for the
-sducdo7 q taxation, but In the man TIM i'm
ss5e- 49, 9rTos e-e seo % NE cry $4,000
sisth-;enersI fund balanos. Excess OF ooec-
toa over re estimated revenues which were
Deducted from the budget Of 1907. which
mt deducted from the budget Of The fol
lowing year vas available for general pur- e-oooo
s-7eurh-Ioad accounts: Balance unc1peuded
a. ne credit Of The EaT1ols accoan s .
not To- ne . eo2s 5-se g. 3i tTeasur 200
Esshh-Bond accounts unanotted: Being bal,
accounts TIE proceeds Of sales OF bonds not
hey beioSs - ne tpee'e account 100000
ro.si ..-.....-............. 81. $4,000
st .56y. IS aea6ufssd for the so a 5af hat
eniE round amounts dealt with