New-York tribune., 1909-11-06
BIG JERSEY SURPLUS
Financial Condition of State
PieaSes Governor Fort.
[By Telegraph u The Tribune

lBy Telegraph % The Tribune
Trenton. y. J.. Nov. 5.-Ccvernor Fort said
to-day that he vas much pleased with the
present financial condition OF the state The
nSureS given by the Controllers Office snow
that there is "a clear working balance OF
close 10 N.6oe,Ooo. Last year there was
threatened deficit Of about $500 csc, but r. the
closest economy AMI The carrying out of
most Of the recommendations of the FTe-
Iinshuysen finance committee tais possible
deficit has been turned into a surplus
In talking the financial condition Of the
state the Governor said
The estimate Of the state Controller of
possible revenue, made last year for the
hscal year which has lust ended. was ex-
Ceeded by the receipts Of the year. Al
most every department in the state hes
received more revenue than WAS antiCi-
pated at the beginning Of the last fiscal
year This fact Is exceedingly gratifying.
one OF the largest items Is in the matter
ct colIateral inheritance tax. from this
source alone more than 1922, ,e00 in excess
OF the previous year was paid into the
The one gratifying feature about the
present situation is that We are sending
down 70 the public schools from the r.le-
nUes of tine last fiscal year S2.s76, SsI p.
which IS in excess OF the sum sent down
Tor tne same purpose the previous hscal
year 70 the amOust Of $3.50 This Is qUits
q suincienI answer 10 the statements Whicn
we're made last winter and are constantly
being made. that the school fund was .
lie depleted and moneys taken from the
municipalities which should legitiIlately 20
to them under the act Of 1-lS.
The receipts from misce laneouS CORPORA
tichs the present year have exceeded those
~ lhe previous year by SlSl ,lJi, which Is
very gratifying. II was feared that the
revenue from the tax on miscellaneous cor
poTeticns would be reduced but IL ap-
pesrs, OF the contrary, % have increased
there has CCIne som ching TO the state
treasury by the ACT which Permitted Us 70
take from The revenue derived from auto
mobile licenses the expense of the admin
lstTauOn o. the motor vehicle department
This amounted TO about SI.Goo and vas
very Just piece of legislation. The motor
vehicle fees for The last fiscal veer amount
cd 10 2lols6, all II which. except shs ez-
penSe Of operating The department will
Re devoted 10 the Gaintep1nce Of pubic
highways.
According 20 schedules fled with the
state Controller for the year 1909. the az
gTegate assessed valuation OF railroad prop
cry by the state viii be s2S1214I5s. on
which total tax of S5.0S6.s45 4S will be
collected. Of the tax. s3.75l ,004 % will 20
t" the state and 1885,, $40 20 for local uses.
lh@ total taSes to be paid by he railroads
are Si2e,SlS 81 more than last year
The state, however. can only use one
Lalf OF per cent Of the assessed valuation
Of main stem railroad taxes for its own use
tho balance going TO the support Of the
public schools The latter will this year
receive S2,103,6s9 36, an increase Of nearly
100000 over last year
The railroads are taxed on their main
stem at The average tax rate Of state. TEis
showed an increase this year. ara was
partly responsible for the rise in the
amount paid by the railroads.