New-York tribune., 1909-02-14
OLD PAPER VALUABLE
THOUGHT WORTHLESS.
Long Island City improvement Ger
tifcates ct Last To Be Redeemed

AFTER troubled sleep Of thirty years O. HDOu.
Rf72o 900 worth OF Long Island City inproVeIi-eH :
,.rsafcstes issued back in the 1es. cafryins
.,er cent interest Will be redeemed at race V"Iue'
With interest added. at the forthcoming an 500
OF Long Island City real estate. ,o,.o
The srnprovernent certificates became such q JOKE
among tie business men that the contractors no"
I'D then would light cigar with $40 ceruhc@.e
and the sslOcn men took them ever lNe Oo' 40 "
cent drinks OF whiskey. . u.
An oneonta banker. who took S9.5le worth o.
shese old certificates for an uncoIeclaoie oeO' g..
was laughed at bothering 10 tuck theiIi INTO @
sstcheI back in 1880. can now II he IS iiVlns, si1
Ct the scoffers. because his old certncates'
fur the sale. viii be worth about $4,000
The Improvement certificates affect only frac-
don OF the parcels offered FOR sale 1hey are
practically lien on the parcels TO be sofa ior as
se~sraeut arrears for the opening and widening OF
sselnv-ev avenue Grand avenue and Main street.
Flushing avenue from Van Alst avenue to the east
srly boundary OF Long Island City, and the Fulton
avenue and Main street improvement, all IN Long
Island City.
-,sr,.1 Nfo,-nahap Collector OF Assessments and
Arrears said yesterday that he thinks that the
cid certificates are good" for any assessment sales
sn old Long Island City.
7be Old certificates were issued in deromina-
4sonz from see to $1,000 and were paid TO the con-
tractors who did the improvement work iheE
--ere redeemabIe from the Improvement 1und OF
Long Island City, but as PADDY Gleason mao
vTertv Of use for the money that came INTO TIE
soeseseiov Of the city InEouSu O4aA'AoAS
the iroprovement fund never amounted 10 much'
snd the contractors who took the certhcates lot
their lay were a discontented lot Many OF tnen n
were hankrupted by the transaction The certih-
cz*es were signed by r c. Van Alst Wnnafn
Bridges and Il. S. Anabe- The back OF 'le oe'
slacates carries the following
This certificate is one of The improvement certlI-
cs+ee IN T.one Island City issued unoer Ihe Pr
AZ the act within mentioned II uI
+s-sS+ AT the rate Of per cent per alliluIl 80
,srei,-a HE at mar accrued interest a. any
va,-roenf ofa assessment laid unoef sdlu a
,f 1ss and of the accrued interest on suci aSses'
snent .t., ,ot
when NJ Grout was Controller 3 speclad Sc'
1sx -,assed authorizing the city to gather IN llese
ol5 certificates and the city now has about $l4'"'
- ft,er, leaving about s25 600 outstanding as al
-es0v, stated these are worth fully *'o'VVo a'
the arrears sale -. -.
This sale VIII take place on Monday, MaFen "a. :. a'
yn o,rlock at Borough Hall, in Long 1slahd oI'9
.-e ss about ss COO worth Of realty in arrears
some Of the owners in arrears are the trustees "a
r-nio- College K ". Paige. John g Provost ot'
Tobnss Hospital ss parcels St Patricks Catheo
ss.snsp-a on Company Mary Taylor. 1eS piots anu
Henry Nenken 55s parcels. Sales Tor arrears :"
Deu.teD-r Flushing College Point Jamaica, Bay
si5. roctszvav and whitestone, will soon pc au- %
s.r,ises and then the Finance Department VIII
.ske up Brooklyn. The Bronx and Mammalian