New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-26
Tells Real Estate Men \.
Has Submitted Proof to
District Attorney
Gas Company Favored
Guests at Dinner to Tamm.,.
Nominee Add $50O,OO to
Bond Subscriptions

night at the Biltmore Hotel. and beta.
the speaking began the 400 menh..
and guests individually subsc,ih.,
about 100000 to the Liberty Loan
Among the heaviest subscribers v.
John F. Calvin, president Of the Bo,,,
of Water Supply, $4,000; Charles Oh
kin, $4,000; Joseph Yeska, president a.
the Business Mems League, sSW
Charles S. Craig, candidate for G..
/ troller, $4,000; William Hartman BI,.s
I Assistant District Attorney. s2M
Abraham G. Meyer, candidate for -,
court justice, $1,000, and John A w.
Carthy, president of the Democ,,..
Committee Of l07, -s25,000.
The subscriptions apparently v.,x
spontaneous, and even prompted bv !,
brief address by L. B. Krebs. r,s,,
senting the Liberty Loan committ,.
who has accompanied the Tamnsr,
candidates at meetings IN Manha,t,,
and The Bronx during the last two n,
three evenings. Judge Hylan, who zm
reported by the POSTMASTER, joseph
Schwab, as having subscribed 10 n.
first loan, went down for an addi,iou
. $1,000.
Judge Hylan, in his address to n.
, diners, produced what he declared va,
proof of the fact that under the Miteh.
administration property owned By q.
Senator Reynolds, Frank Bailey al
William VI. Greye had been material,
reduced for tax valuation. The tk,s
men were indicted last week in CO...
nection with the Seaside Park deal.
Judge Hylan also asserted tia. Al
4 subsidiary of the Consolidated Ga,
Company had been allowed to on,l
/ S4,O00,000 of valuation in tax asses.
ments. Some one in Mayor Mitehsgl
Tax Department is held responsible
for the omission by Judge Hylan, wi
asserted the facts in the cases han
been placed in the hands Of Disircl
Attorney Swami.
Judge Hylan's Address
Judge Hylan said:
] ave find that the Mitchel.Pr
dergast Board Of Estimate has /,
creased the tax budget S29,000,00e Ill
one year. | have had some inyes,n
tions made and have found that the /,
creases in the assessed valuation III
real estate are not applied to all pn,
erty owners. For example, Reyn0at
Greve and Bailey, the indicted fave,
ties of the Mayor. have had assss
ments decreased on three parcels Z
their property from 100000 10 So
$50. II
Specifically these decreases vwH
/ follows:
"On the Brighton Beach prxrs II
s260,500; on the Plum Beach Rsrsy II
S8l 200; on the Tebo Basin on Gowns
Canal, S49,750.
"The Tebo Basin property is strt /
ing example of the fayoritism shcr
70 Reynolds, Greye and Bailey. Thml
are two parcels of that property.
1914 one was assessed at S250.000 a.
reduced to S236,000 In 1915 anotK,
reduction was made, 70 Sls0s5O. Tnl
second parcel was reduced in 1915 frc. 1
S26,300 to S19, 200.
"0n August 80, 1916, Reynolds Bailey 4
and Greye sold these two psrcsk, ard \
mortgages were recorded on them "a L
the amount of $500 900, which is NMr
900 more than the assessed valgs.o,
Of course, the real value OF the pro-
erty was necessarily in excess Of 10
mortgage.
But they are not the only fsycr
interests which have been reliesI
from bearing a just proportion Of =
taxes of this city. | have tod
lodged information with the Ds,rs
Attorney of grave irregularities. So,
one in Mayor Mitcheps Tax DepsHE
ment is responsible. 7 have no dcs
that the District Attorney will brav
the offenders 10 the bar Of justice
$50 that there may be no ibsirz L
ton Of justice. | shall not mentio'
this disclosure 10 you tonight tto'
cial whom | have named IN the II
formation sent TO the District ArAt
ney. III
THE evidence which has come . rs'
concerns the omission Of S-VVVA 4
of valuation in the assessment Of ~
Of the subsidiaries OF the Con-"
dated Gas Company. That omiss.
was made in spite Of the taei y.
this tax official had before BIZ ~
/ sworn statement of that eerpsa'
which included that S4.00OO~ 'A-'
ton. IA.
There is a law Of this state s,.
requires all public service eorpo'a~'
to file with the State Tax Con-
sioners before June 30 OF each ysA
sworn statement of the value
/ their property. The law requHss +
that statement include the 'a'ss
buildings and equipment less o's
I citation. The actual valuation 20
rived at is technically known +"
J 'depreciated value
These reports, designated IN Ms
guaee Of the tax officials as TOTE
are transmitted 20 the munlelPs
b authorities. 10 be used N hA'ns
value for assessment
Says Reports Were Held ba'
Information has come 20 me, ~
have transmitted it 20 the UIs"'ss;
torney. that when those 'form ~
ports came 70 the city Tax Depsi'.,
this year the reports from the gss 4
pany were withheld from the W.
Channels and retained in the posse.
, Of one official. These gas coInp'Ss
ports were not distributed 20 'he ~
mated deputies for use ~ asss''i
as is invariably done IN the case
other such reports. -. Al,
at happened, however. that "a
these Form s. reports got r'Sss IN
the reports Of twenty-five o insI, n
porations and went IN the fes., q
flee channels. That was me ~,
the Mutual Gas Lighting Comp'oi
l this city, one Of the subsidiaries
Oc "cierEs in the Tax DspaiI7;7
found that the sworn velIe ID
buildings and equipment OF ne Ssg6
Gas Lighting Company was 80
whereas the valuation carried y
books of the department wn
s2,66l 500. But before the "S
assessment rolls were maze
Form s. report which "ou.~, a
raised the Mutual Gas CompSny 80
uation four million dollars was , IS
ured by an official Of the ds2',,
preceding years valuation OF -