Evening star., 1932-11-27
Statistics Compared.

OF the IL municipalities under re-
view, New York has the largest pei
capita debt, amounting to more than
$3.50. The City of Oslo, capital of Nor
way, is distant second with slightly
less than 1922. The Hague, capital OF
the kingdom of the Netherlands, holds
third place with a per capita debt of
more than S215, followed by Montreal
with close to $179; Copenhagen, CAPT.
tai and leading city of Denmark, with
a per capita debt of well over S155, and
Stockholm, capital of the Scandinavian
Kingdom Of Sweden. with $l35.
Prague Is Seventh.
Prague, capital of Czechoslovakia,
ranks seventh, with per capita debt
Of approximately $86. Paris is next
with slightly less than $3.50, followed
by Berlin with about $50 and Budapest
with less than S64.50 Vienna is last
with a per capita debt of slightly more
than $2150.
American investors have been priv
ileged to buy, at one time or another
bonds of practically all the cities re-
ferred to, with the exception of The
Hague and Stockholm, which never aD-
pealed to the American investing pub
lie for financial accommodate While
dollar bonds of the City Of Paris were
sold originally in the Canadian mar
ket, substantial amount was with
drawn for sale in the United States
OF the 10 foreign cities whose bonds
Americans own, two-Vienna and Buda-
pest-are IN default.
1t is rather significant to note that
suspension of payments was resorted to
by cities whose per capita Indebtedness
is substantially lower than that of
other cities under review, proving once
again the contention that statistics dc
not afford an absolutely dependable
criterion of the appraisal Of the credit
standing Of government or a political
subdivision. To be sure, the cities in
question continue to deposit interest on
their engagements in their native cur
rencies, to the account of foreign
creditors. However, bondholders are not
in a position to avail themselves OF
funds so deposited.
From the standpoint of resources, New
York is substantially ahead Of all other
cities analyZed in this study. The as
sessed valuation Of property, according
to latest reports, is in excess of 50, 2,785
The Hague is a very distant second
with ST 1888 Paris occupies third place
with almost 1888 of city-owned assets
Montreal is next with about $837, fol-
lowed by Prague with almost $61650
IL might be pointed out perhaps that
this figure refers only to the value OF
real estate within the city of Prague
If all other resources were to be in
cluded, the amount would be somewhat
in excess of the one shown above.
Refers to Real Estate.
Oslo is. sixth with over Sass, Stock
holm follows with $354.50, Copenhagen
with 1852, Budapest with more thar
S240 and Berlin with $142.50. Vienna
is again last with $118.50. However
this figure, as in the case of Prague
refers only. to the estimated value Of
real estate within the city.
AS regards the relation between as
sets and debt, the city Of Paris makes
the most satisfactory showing, with
slightly more than cents owed fol
every dollar of municipality owned prop.
erty. The Hague is second with a ratiC
of debt to assets amounting to frac.
tionally less than 1874 per cent. New
York holds third place, owing less thar
IL cents for every dollar of assets.
The city of Prague is fourth with
! slightly less than IA cents of debt Il