The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-12-02
FIVE YEARS CITY BORROWING
COMMISSIONER PrRDi IT'S
IT AT Sf72OOO,O 900.
Estimates That the city May Net Only
go Into subway building sut win
Have o Wide Margin for Further
Improe cum rnts Times Must lBo Gaed-


President Purdy of tho Tax BOARD IN,
made estimates OF the real estate vaiaa
tons OF the city for ths next five year
which indicate that this city will hav'
ample money for subway develop
ment and a large borrowing margin
for other public improvements. In q
statement prepared for the Board o
Estimate Mr.. Pirdy gave IL IA his opinion
that there will bs an increase in the r,sa
estate valuations next year Of $500 900. %,
and an increase for the following yeaI
Of s,c5 US 90. He estimates the in.
, crease for 1919 at $500, 900 600. with tbs
same ratio Of increase for 1914 and 1915.
The total OF Sh-se estimated increases
for the next five years Ia 81. 7:5 900. 90
Under the law the city can issue bonds
! to the. amount Of 10 per cent. Of its a.
\ s..--ed valuations 80 that durii . the
five years the municipality would be
able to borrow sra SO 40 for improve
rpeuts.
The city now has in round figures
80. 600 COO for new subways Ii has
been worked out by the engineers OF the
Public Service Commission that the
construction OF the triborough route.
il the city adopts that plan. will be about
$lOO, OOO. 200. That means, il MIR. Purdy =
figures are accurate. that the city will
have within the next FIVE years SlS,. 600.
900 for other public improvements. II
the city should agree to the suggestion
of the marlborough company that the
city shall share half the cost OF building
the proposed extensions to the present
subway the city would still have about
40. oc.o no., ,,,h,,;,, "a. ,-i,h,,,
s"oV'oo 'o' o'".' puo'U ,,es' "''''o ',,
taxing ihto cohsiueTaaIoh the many mil
ions OF indebtedness which the munich
pality Ia to be relieved OF when advantage
ia ,nken NJ TN. enabling AZ, p.rmi,tinp
tL.,
INC s''y 70 u'u.o' i'"'h I's tn
bonds which have been issued Tor such
self sustaining improvements as docks
and the ex,a,inu subway
-uhn, d., ,,,s,. ,a,,
A., "e .''e my CO. .,l. ~, ,u' Lsi
vi. IVY s"u, - $3.50.
@s -. ....a.s,
t u ~ 'oI unc ,p"M ,ns
aspu up .I,,'. S,;rI, ~
Iap,u uaiSN la.S - niu 'anE SUo'
iIlous'fiaI c"'iul.s u" ac'La' III,
cresAs" may SUPPLEMENTARY 49," WI"
e~tlimats snoan sree. indus'f n pros-
psri'S PteTNi uuih u'e ueA' nv" YEATS
iSt io"."'e' "N'"'i'i'hH
oi IaPiu trale' I.it, " ~.
Ipterhorm,yh cnmnanv ia nrenar,np a
nrnnosi,ion for Z,hm,ssion ~ tho pIGlic
p'opeHch io' stpIH9'ioh W vi" u"'t
SerEtcs ,oi'iihi-eon w pe catu 'ouI
p,hIc Sayv,c, Cop,m,ss,on have M do.
tails Of what this or,i.r "a 20 n. II is
hsi,.v "A n, the n y,c,s ~ tho Pubic S..r.
vica Copmiss,on tha, TIA nIap ,yiu cCn-
stat - ,h.. extsnsion of In, nrasen, s,,h
va so,,,h Trow Tin.x Sbmar. und.r
Ssy snth aysn,,. IN IN. Ra,,ary nnr,h
fro,n IN. Grand Central station under
a,,ha- I.Y,ngton nv Madison avenue
,ha ,h;r5 go w. -, ,ha ..I.,,,.,j III
rnads ~ the ,.r,rinaIs IN tn. R,nnx
,ha h,,;Id;ng 81 a ,,,nn.i frn,, III. down
tn,xn nar, ~ Nanh,ttan IN Rrroklvn
and ,ba ;oiriny ~ mi. sys,ar, bv means
81 the S,..nway ,uun.l with On..sns
In ,hi. way tho In,.rhrr,,Syh romD,p,
wo,,,d h.. iii. In Mar t,a,,;c systo,,,
tha, wo,ld raach ,varv hornuvh exr.nt
Richmond W-h.ther IN. nom6any viii