New-York tribune., 1918-01-15
City Can Add
$lo,0oo,o00 to
Debt i'm 1918
New Controllers Figures
Agree With Those of
Prcndcrgast
Realty Shows Increase
About $5,ooo,ooo VIII Be
Added to Borrowing Power
by Assessments
Realty Shows Increase


tailed statement of the "debt limit" or
constitutional debt-incurring power, Of
the city. as Of January 1, 1918, when
the new administration took Office. and
an estimate Of the expansion Of the
city's debt limit during the current
year. The figures of the new Control
Ter practically agree with those Of for
mer Controller William A. Prendergast.
who submitted a similar statement at
the request of Judge Hylan in Decem
ber. before the new Mayor assumed his
duties.
Controller Craig finds that the debt
limit on January was $50,270,15
against which there were commitments,
unencumbered balances of authorize
tions OF corporate stock for public i'm
provements and reserves made on July
2, 1914, by the Board of Estimate for
the South Brooklyn Marginal Railroad
aggregating S31 1851 OFT. This leaves
a margin free from all encumbrances
of $18,419,078, which is available for
additional specific authorization for any
municipal purpose which the Board Of
Estimate may determine.
City's Commitments
The Controller summarized these
contingent encumbranceS against thu
city's right to incur further debt limit
as follows:
Commitments for rapid transit
purposes under contracts l
and (ncluding the Sara
toga award Of s1.s64.-
1O9.33), to be ultimately
,qudated by corporate
Unencumbered balances of
authorizations of corporate
stock heretofore made by
Board of Estimate and APP
portionment at various
dates for dock improve
ments observation-disclosures. 75,1O4.s9
Uncncumbered balances of
authorizations of corporate
stock for the requirement
OF sites and for the buid-
ing extension and equip
ment of school houses 49,. II ,810,S14.29
Unencumbered balances of
authorization for all other
municipal purposes not in
cluded in the foregoing -. 7,010, 1861
Total ..................$2 $22 OO1 ,S05 40
Reserve made by Board of
Estimate and Apporton-
ment July 2, 1914:
For South
einal RR.. SO s,4s2, ,oc4.ss
Balance of
serve for
dock, port
and terminal
improvements 357.266.73
A--- 9.849,271.56
Total observation-disclosures s3l 1851, ,O77.05
The above items are merely con-
tingent upon the $4,000, 900 debt limit
rs they were made By the previous ad-
mnistration and might be rescinded or
modihed by the. new Board OF Esti-
mate. The Controller estimates that
the total available ebt-incurring
power to December 81, 1918, will be
S63,212,415. Charged against this total
are certain commitments and estimat
ed new requirements during 1918,
amounting to S52,351 OFT, leaving the
unincumberod remainder Of the debt
limit for this year at $1O,s61, 1888.
Requirements for Current Year
The Controller estimates the in
real estate during the current year
will add S5OoO,00 to the debt limit.
The estimated requirements during
1918 are the following:
Irrevocable commitments for
rapid transit purposes
der contracts NOS. and :
tincluding Saratoga award
of $l,S64. 109.33), 10 be
Euuidated by corporate
stock ..............:.... s2.2o1, 10000
Estimates of additional re-
ourements during 1918
for rapid transit purposes.
based on Public Service
Commission figures, in
Guiding the Ashland Place
improvement, and such ir-
terest as will require to be
paid from corporate stock
approximatcd at an aggre-
gate of ..:..:.......e... $1,000. 900 90
Unincumbcred balances of
authorizations for dock inn
provements ............. 913,1O4.69
Unincumbered balances cf
authorizations for sites and