Year: 1873

Supervisors in 1870 actually agreed to pay for
the rse OF less than quarter part In vaiue
of the premises rent each year MT rae
which for the whole premises IL nearly douoie tne
amount nxed by the Tax Commissioners In that year
the value OF the whole property. rent OF s5OOo 1or
the fourth floor per cent OF the Assessors vaua
ton OF the entire property In 1870 II We take three
times the Assessors valuation for 1870, to w.t. N6Scco
(which Is probably more than any competent person
would estimate the ground and building 10 be WORTH
rent OF 600 for the fourth floor is than ten per
cent upon that amount usual rate OF rent In TINS
city, II this be correct. the Board OF Supervisors
agreed 20 pay for the fourth floor more than the 1ar
rental value of the whole building


The term OF the two leases is years and months,
being from jan l. 1870 to May l. 1885 The total rent OF
the fourth floor for that period II these leases be valid
will be saoO which than the present actual
value of the Whole property II the whole building were
lea sed at that rate the rent for that term without ac
cumulations OF interest would amount 70 sl666 moro
than Ave times the present actual value OF the property
The lessons claim a valuable omnibus fran chse
and they occupy the Of the building for their stable
aud workshops To that franchise tho Board of Super
visors added an agreement TO take the fourth floor OF
their stable building at an amount more than equal TO
the interest upon the whole value Of the ground ana
building and the taxes This in effect equal TO a
yearly gift OF the rental yaluc OF the part 0f the prem


ises occupied by them for their business. .


1t would seem that nothing more than statement oi





this lease But there other facts OF very Significant
character. Francis A. Palmer was President OF the
Broadway Bank, which the warrants OF the CITY ana
County Treasurer werethen paid Although the lease Is
dated in June 1870 the resolution directing II to be made
was adopted In May In that month the most enormous
OF the frauds the Treasury OF this city ana county
were perperated. Many millions were paid out OF tnat
bank in that month forged or fraudulent claims,
aud large portions of the accounts so paid were Trans
ferred TO the credi OF public officers who kept private
liam NJ Tweed. the then President OF the Board OF sn
pervsors. 1t is ncreda6e tina! the transactions shqua
how. t,fae n
the bank. IL certain that the then PRESIDENT OF te
Board OF Supervisors on the 26sn day oil he same NOUN
from the public treasury lInse offered e feso
luton Tor the making OF the original lease with fT,ns
A Palmer the President OF tho Broadway Bank,
with others at this extraordinary rent. The resO-
luton was adopted at once without debate,
any kind why did not Mr.. Palmer make known the
enormous frauds, the proceeds of winch were IN part
bic that has get Information or them Dy other
and by outside parties agdnss ms persistent anu m
continued opposition, and against obstacles when ne
has constantly thrown I'm the way OF getting AT he Iruh
~ tbese matters Not only was this extraordinary lease
authorized IN this unusual manuer DuJ u was haue
to commence on the preceding ISL OF January;
Mr.. johnson states, IN his ailaylt above referred
TO- that the county assumed possession" on that Day
The fact is am informed that the premises 80 leased
until Nov. l. 1872, occupied at all except nom
nay or for a short period. In the communication by
Ma0r-Gen smaller to the Board OF Supervisors on the
26th day OF February 1872 proceedings OF ls2 page ~


relative TO the condition OF the several arnores do
not find any mention of these premises. Tue lessons
themselves admit tine fraudulent character OF the tease
by agreeing to reduce the from $4,000 10 $4,000 III
sisoOO were only fair rent it Is not probable that
they would consent 10 reduce 1t Tor IL years 10
per annum. my duty TO oppose to the utmost
tue payment Of any rent under either OF these leases
They are both OF very exceptional character the
reduced rent than three times what II should be-
shall send copy OF this communication 70 the Cor
pOraon Counsel aud request him TO take whatever pro-
ceedngs may be necessary 10 have each OF the leases
annuled and ask OF you to recommend such action ON
the part OF the Board OF SUPERVISORS as may DC
necessary TO enable him to do The lessons
admit that they have received the rent under
the first lease 10 May l. 1871. Since l came
into Office they have been paid nothing:
They are Of wealth, and should be made to refund
the money WrOngfully taken from the treasury to pay
that rent. am aware that large sum OF money mas
been expended Nov. !, 1872, in lifting up these
premises as an arnOry III the Will not consent
TO lease these premises at reasonable rent the nXucs
can be taken down and used elsewhere It would even
be better 10 lose the entire cost Of them Rather thdu
allow either OF these fraudulent leases 70 be fastened
upon our Taxpayers Every effort should be made to
relieve them from burden OF these leases 10 the I'M
position Of which it would he dscreditable " submit