Perth Amboy evening news., 1915-04-28
CLARK GIVES FACTS
ON CITY FINANCES
Alderman's Figures Offset
Mayors Statement to Show
City Can't Afford to Buy.
AFTER THE MAYORS VETO
Says Garrets0n Included Two
Items That Were Add
ed to 1914 Indebtedness.

Facts and figures which offset
Mayor Ferd Garretson's statement to
show that the city was hardly able
| financially to purchase public park
property at this time were given by
Alderman John J. Clark when he was
interviewed at his home today. He
cited several instances where big
| items in the mayors statement ac-
| companying his veto Monday night
might create a false impression, and
the alderman submitted proof in the
form of figures from city officials in
authority to show that the state of
indebtedness of the city was not as
| the mayors statement would lead
one to believe 1t is.
| Mr.. Clark emphasized the fact that
Mayor Garretson included two items
of s155,000 in the debt this year
which were added to the citys net
Indebtedness last year. They con-
sisted of money for street improve
ments in 1914, now temporarily
financed by a six per cent. note,
amounting to $125,000, and money
/ for sewer construction last year
amounting to $4,000. These items
| were included In statement of the
net debt issued December 81, 1914.
The city's Indebtedness at that time
was s2,438,333.32. The approximate
assessed valuation of the city is s22,-
900, 900. The city can bond itself to
fifteen per cent of that amount,
which at the present time would be
about s3,300,000. This would give
the city Ieeway of 100000 to go
in debt, but this figure does not in
clude the items amounting to $780,
600 which, it appears in the mayors
statement, will be added to the city s
debt this year. They are already
| included, Mr.. Clark AYERS, and allow
ance must be made accordingly, de-
spite the fact that bonds will have
to be issued for them this year.
. Along with this item IheEa6l
Ilbe othel Nanzes. for the city has
| paid of this year up to April 4,
$74,600 worth OF old debts. It is
known to Mr. Clark that at least
$4,000 of that amount was Included
in the net indebtedness on December
81, last. These items. which have
been paid, are: Improvement bonds,
. Nv
bonds, $1,000; Market street resur-
facing, $1,000; anticipation of tax
bonds, $4,000.
/ Regarding the statement of the
mayor that early in the year he ques-
toned some Of the members of the
council as to their opinion Of the
amount of bonds that the city should
add to Its Indebtedness this year for
constructive work, Mr.. Clark stated
that parks were not figured under
constructive work" They brought
back no revenue financially as other
ventures did, but we're for the health
and recreation of the public. he said.
He had had them In mind for the past
year at least and was in earnest
about pushing them despite the fact
that it had appeared to him at times
that other members of he council
were bluffing.
Relative to the mayors statement
accompanying his veto of the resolu-
ton to purchase the former Merritt
land for park purposes, that from
these and various sources of infor-
nation and considering the relation
OF the bonded Indebtedness to the as
sessed valuations, with which you
are no doubt familiar and the further
fact that license fees are no longer
sufficient to pay the interest on that
debt and that it is necessary to pro-
vide for additional interest in the
budget, thereby substantially increas-
| ing the tax rate, the conclusion was
reached that it would be unwise, IL
not unsafe. to authorize new bond is
Nf he of
hundred thousand dollars, (S400,-
000) during 1885, Mr.. Clark had
something to say. He declared that
| he did not speak from merely infor-
nation, but from facts and figures
submitted by authorities. He de-
clared that what bearing license fees
and In the subject on finances, had
nothing to do with the council. He
stated that much property was un-
dervalued at present, some to the
extent of less than fifty per cent. of
what it should be and he believed
that when the proper increase in val
nations. they would be brought up to
s23,Ooo.00o, thereby further in
creasing the margin for debts, and
prevent Increase of the tax rate.
The alderman stated that he had
shown where $4,000 could be cut
from the mayors own figures.
These cuts included $4,000 for the
Convery place pavement, which he
declared could not be put down this
year because of the heavy filling,
which would have to be allowed to
settle, $4,000 for an isolation hos
pital and $4,000 from the amount
necessary for extending two school
buildings. s140,0O0 had been asked
for the school additions, but the
Board of School Estimate had agreed
that no more than S125,000 should
be allowed. and one school commits
sion had informed an alderman that
he thought the additions could be
built for $4,000.
Z