The Newark star and Newark advertiser. [volume] (Newark, N.J.) 1909-1909, 1909-08-04
COUNTY TAX RATE
ESTIMATED NOW At
8 POINTS. HIGHER
interesting Figures Shown by
Returns of Assessors Out
side Newark.
NO DECISION OVER
PRUDENTIAL STOCK
Representatives of Company
Meet City Authorities Over
Assessment Problem.

Based on the estimated increase in
the city's ratables by 5000 900 and on
last years second-class railroad prop
erty the county tax rate will be CAT
against last years $685. or an increase
of points. AS the city has not yet
made its return to the County Tax
Board, but promises to do so next
week, the figures as to its ratables are
tentative. while those for the several
municipalities from the State Board Of
Assessors covering the second class
railroad property have not yet been
announced
Upon the result of a conference held
today between representatives of the
Prudential Insurance Company and the
legal and tax departments of the city
will depend in "a great measure whether
or not the sum of s250,O00 will be added
to the tax budget of the city. The con-
ference was held in the office of City
Counsel James r. Nugent. who, with
City Attorney Herbert Boggs. repre-
sented the Board of Commissioners of
| Taxation. The Prudential was repre-
sented by Joan K. Gore, the actuarian
General Solicitor Edward D. Duffield
and Comptroller Wilbur S. johnson.
The conference lasted till noon and no
decision was reached. 1t was decided
on each side to come to an agreement.
| IL possible, tomorrow.
The point at issue was raised by IN
opinion given by City Attorney Boggs.
to the effect that the special reserve
fund of the Prudential Insurance Com
pany, created under the 1907 act to pro-
teet holders of preferred dividend
policies, and amounting TO $4,000, 900,
is an asset of the company The Pru-
Dental representatives, on the other
hand assert that this fund is a
liability. The conference lasted for
several hours. and no definite state
ment as to the decision reached was
given out by either of the parties con-
cerned
The city will pay the county from
$S4.0 900 to 100000 out of its s275,000, if
the plan goes through.
Attorney Boggs intimated that the
Prudential officials were of the opinion
that the city was entitled to the claim.
He added, however. that he believed the
Prudential would take an appeal, which
would allow it to pay the same amount
of tax as last year, or what they be-
lieved was right
There are many things to digest in
this matter which 1 know Mr. Nugent
would like to think over, for we do not
want the city to pay the county until
we know we will get it back" he said
Mr.. Nugent said that the city tax
rate would be set as soon as the ques-
tion with the Prudential was settled
Two Places Show Decrease.
There are only two municipalities
that show a decrease, Caldwell Town
ship. which is "shy' by s2.675, and Es-
sex Fells, by 1878. 1t is likely that the
County Tax Board will not take the
formers figures as final, but will take
a trip over the premises and find out
why the valuations have not increased
Essex Fells. on the other hand, while
showing an apparent decrease, will
probably get a boost" when the
second class railroad property is added
to its ratables, so that it will join the
column of increase. Neither of the in
creases. it is likely, will change the
general result, and the increase of
eight points, unless the city's ratables
are much increased, will probably
stand.
Slight revisions in other of the figures
will also be made before the board
| finally fixes the county rate. which will
be some time before the first week in
September.
Verona Comes In.
Verona was the last municipality 20
get into line with it's ratables and did
not do so until this morning, when it's
representative came into the Office of
the county tax board and calmly an
nounr J that a citizen had dropped
into his place of business and talked
about road repairs until it was too late
W get u 4NSWdIh, law ItQuiiSS
that the assessors should file their re-
turns on the first Tuesday in August.
Generally speaking, however, the asses
sors were more prompt in complying
with the law this year than they were
last.
Secretary James A. Mungle of the
county tax board, expressed the opinion
today. after he had worked hard on the
long columns of figures, that there
would not be much of change in the
figures as he had them arrayed.
The increase he said, referring to
his books. lis largely due to the fact
that the county budget is much larger
than last year. There is an item of
81, 1893, s0s for school money, against last
years s971,647. The county is spending
$4,000 more than it did last year"
Mr.. Mungle referred salso to several
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