New-York tribune., 1921-08-16
Craig's Figures
Stuff Millions
Into City Purse
Municipality on July I Was
Within $l37,49I,7lO of
Debt Limit, He Says, and
Not $12O,OOO,OO0 Over
Reply Made to Brown
Comptroller Will Be Called
to I e stify To-day in
the Legislative Inquiry

Replying to the charge of Elon R.
Brown, counsel to the Meyer legisla-
tive committee investigating the Hylan
administration, that the city's finances
were in bad way through its having
exceeded its debt-incurring powers bv
sl2o,0oo,o00, Comptroller Charles l..
Craig produced figures yesterday pur-
porting to disprove this contention.
MIR. Craigs figures tend to show that
the municipality was within s137.4e1.-
7lo.54 Of the limit of its debt-incurring
on July of this year. There is thus
difference of 257,491,71o.54 in the
opinions of the two men as to the city's
financial status. The fact is all the
more remarkable in that the widely
divergent conclusions of the committee
counsel and the comptroller were based
on the same data.
Craig to Face Inquiry
Mr.. Craig is to be the star witness
at this mornings session of the COM
mittee in City Hall, and there was some
speculation as to the nature of his
testimony. The committee has decided
upon the Comptroller's examination be-
cause of it's inability to gain much
light on the city's finances from the
Mayor, the latter having for three days
on the witness stand urged Mr.. Brown
to "see Craig; get the Comptroller; he
can tell you all about it,
The committee expects to get some
definite information on the condition
OF the city's poeketbook from the
Comptroller. The data made public
yesterday, it is understood, will be the
basis of his testimony.
Mr.. Cr2lg's announcement shows the
c:ays financial condition as Of July !
Of this year. 1t declares that the city's
debt-incurring power within the statu-
tory lnit-10 per cent of the assessed
valuation for l9zl--was S997, ,29S $40 40.
Its total Indebtedness is set forth as
$500 800, 1895: This, contends the
Comptroller, leaves margin within
the debt-incurring power of S137 .491,-
1864
One of the main points Of difference
between the computations of Mr.. Craig
and Mr. Brown, it was pointed out
was the insissence of the committee's
counsel that under the constitution the
real estate assessment of the wear be-
fore should be used as the basis of cal
culation. Mr.. Craig says, in his state
ment, and it. was the contention of
Mayor Hylan on the stand, that the
assessment of the present wear was
and should be used.
Difference in Assessment
There was difference Of about
81 900, 100000 between the assessmeu n is
of this and last year, 10 per cent of
winch would account for S10O,Oo0,0o0
Of the divergence between Mr.. Craig's
and MY. Browns figures Other dis
crepanciess said member of the legis-
lative committee, are the result of
manipulation of the data, it being the
opinion of some members of the com
mittee that Mr. Craig's figures we're
not recorded under the. headings as
provided for in the statutes
The total of "open market orders n
estimated by the Comptroller in his
statement at 100000, was regarded BY
another member Of the committee as
ridiculousy small and mere drop in
the bucket" in connection with this
part of the city's Indebtedness.
1t was the general opinion at com
mittee headquarters that Craig's tes-
timony will be completed in a day or
two and that the Mayor would then
be recalled to the stand for further
examination.
Commissioner of Accounts David
Hirshfield issued q statement yester-
day attacking the committee. He
charged that Chairman Meyer, while
en- Assemblyman in 1918, introduced
and had passed bill permitting grain
elevator men to increase their charges
for handling grain about 81 per cent.