The Birmingham age-herald., 1911-08-20
NEW YORK RICHEST
 CITY IN COUNTRY Enormous Totals Shown in
 Tax Figures GROWING OF OLIVES Is One of Oldest Fruit Growing h. dustries of California-Increased Use of Railroad Mileage
 Books
BY ROBERT LEE CARTER

New York, August 19.-(Special)-It is no news that New York is by long odds deed the richest in the country, if not in- deed the richest in the world. No figures of less than six cphers can be used in describing it's wealth, and nine or even ten ciphers have to be called into requi- sition to tell of what we have in the few square miles which constitutes Greater New York.
 For instance, the Commissioner of taxes has just prepared a statement showing the amount of property in the city which is exempt from taxation It
 reaches the enormous total of $l,576,- POS, ,S7e
 This is more than the total, assessed
 valuation of the property in each of the states except ten.
 Of this total $1 ,O95, 927 075 is situated in Manhattan. The value of the real estate alone, barring the Improvements which is exempted from taxation throughout the entire city, is put at $971 444,6i9. This figure is conceded to be far less than the actual value of the property should 1t be put up for sale, for the tax department appraisals arc not made at the max mum.
 The holdings which are free from the OrulndFy taXeS 1nctuue tne property owned by the city itself, the United
 States government, and the lands and houses of churches. hospitals and char itable institutions. By far the largest portion of the untaxed property Is held by New York City There Is, at rough estimate at least a third of it. however. however. in possession of religious bodies or institutions exempt from taxation
 under the law.
 Of the city's share of this big total by
 far the greater part Is in park lands. The value of Central Park, with It's improve ments, is put down at $250. .0O0,000, or one sixth of the estimated value of the un- taxed improved realty in the city. The
 value of Central Parks $40 acres, minus Improvements, Is set down at $225, 10000,
 which makes this one parcel of land
 worth nearly one-third as much as all
 the rest of the city put together includ- ing all of the other parks
 Some of the biggest items put down in the untaxed list are: Governors Island. | s6, 800 GOO; custom house, SS, 100000 land and
 buiding; Trinity church and cemetery.
 $17, ,G00,000; St. Paul's church and cemete- ", s5,350,0OO: main postoffice. sl060O.0O0:
 Cathedral of St. John the Divine. s4,9OO- 900. and St. Patriclt's cathedral, S,S50000. Other instances of the low figure at which the valuations are made are found in the cases of the City Hall Park and Bryant Park, the former belng put at
 s2s .360, GOO, including the city hall and the county courthouse, and $27.0O0,000 without. l This allowance of sLS6O,000 far from repre-, sents the actual expenditure on the two buildings. The old Tweed courthouse is | famous chiefly for having cost some ten | times that sum, Bryant Park Ns valued
 at s29000,OO0 with the new public library and $t7,00o,000 without 1t. The new li- brary cost about twice the s5,000,0o0 thus allowed for it.
 Should all the s91, 444,649 worth of real l ty on which no taxes are paid be includ- | ed for taxation the city would at once find itself in funds for the building of a
 new subway system. The borrowing ca pacity of the municipality is fixed at one-tenth of the value of it's realty for purposes of taxation. This would mean
 consequently an addition of s97.144,469 to the debt limit