528 



NEW- YORK CITY. 



SUMMARY. 



Total funded debt, Dec. 31, 1895 $185.588.597 08 



Total funded debt, Dec. 31, 1896 195,907,690 19 



Less amount held by commissioners of the 

 sinking fund for the redemption of debt: 



Investments on account fund No. 1 62.602.304 81 



Investments on account fund No. 2 11.0S5. I'.M r>4 



Cash on account fund No. 1 3,302.1142 1 >7 



Cash on account fund No. 2 640,050 21 



Total sinking fund $77,630,491 63 



Net funded debt. Dec. 31, ISO." 10il.HH5.509 45 



Net funded debt, Dec. 31, 1896 118.277,198 56 



Increase in net funded debt in 1896 8,391 .689 1 1 



August, in the announcement of a tax rate of $2.14 

 for each $100 of assessment, compared with $1.91 

 for 1895. 



Board of Estimate and Apportionment. This 

 body, consisting of the Mayor, the President of the 

 Board of Aldermen, the Comptroller (Ashbel P. 

 Fitch), the President of the Department of Taxes 

 (Edward P. Barker), and the Counsel to the Corpo- 

 ration (Francis M. Scott), allowed the following 

 amounts for 1897: Mayoralty, $42,155: Common 

 Council, $91,500; Finance Department, $321,400 ; 

 interest on city debt, $5,654,258.53 ; redemption of 

 city debt, $4,172,669.35; State taxes and common 

 schools, $5,451,110.21; rents, $171,352; armories, 

 $2,750; judgments. $250,000; Law Department, 

 $197,550; Public Administrator, $16,990; Depart- 

 ment of Public Works, $3,519,555.66 ; Department 

 of Public Parks, $1,333,125 ; Department of Street 

 Improvements, $779,750 ; Department of Public 

 Charities, $1,289,942; Department of Correction, 

 $471.500; Department of Health, $581.358; Police 

 Department, $6,983.939.08; Bureau of Elections, 

 $323,500 ; Department of Street Cleaning, $2,999,- 

 002.40 ; Fire Department, $2,435,926 ; Department of 

 Buildings, $340,785; Department of Taxes, $170.720 ; 

 Board of Education, $5,931,239.89; College of the 

 City of New York, $175.000 ; Normal College, $150,- 

 000; printing, stationery, and blank books, $235,- 

 000 ; municipal civil-service examining boards, 

 $30,000; coroners, $57,700; commissioners of ac- 

 counts, $60,000; sheriff, $134,982; register, $129,- 

 250 : armories and drill rooms, $98,885 ; jurors' 

 fees, $75,000; preservation of records, $40,640; 

 street, and park openings, $756,857.90; libraries, 



$96,700 ; salaries city courts, $376,000 ; salaries- 

 judiciary, $1,489,260; charitable institutions, $1,- 

 527,051.51 ; miscellaneous, $521.892.64 ; total, $49,- 

 486,297.17; deduct general fund, $3,800,000; grand 

 total, $45,686.297.17. 



This statement shows that the amount allowed 

 for 1897 is $49,486,297.17, which is reduced by de- 

 ducting from the general fund made up by receipts 

 from various sources during the year, including the 

 unexpended balance of previous years, $3,800,000. 

 The total amount to be raised by taxation is $45,- 

 686,297.17, which represents an increase of $1,689,- 

 726.86. This increase is due mainly to expenditures 

 on permanent improvements, such as the purchase 

 of lands for public parks and docks and their im- 

 provement, the purchase of land and the erection 

 thereon of school buildings, police and fire houses, 

 small museums, armories, bridges over the Harlem 

 river, the repaving of streets and avenues, increas- 

 ing the supply of wholesome water, hospitals and 

 asylums, and similar improvements which the con- 

 stant growth of the city imperatively demands and 

 which can not be justifiably paid for from direct 

 annual taxation, but are paid for from the issue of 

 city bonds. 



Wealth of the City. This department is a 

 county charge, and is cared for by a board of 3 

 tax commissioners, as follows : Edward P. Barker 

 (president), Theodore Sutro, and James L. Wells, 

 each of whom receives a salary of $7,000 and the 

 president $1,000 additional. The office is at 280 

 Broadway. They report the total valuation of real 

 and personal property, as assessed for taxation in 

 1896, to be $2,106,484,905, against $2,016,947,662 

 for 1895, showing a net increase of $89,537,243, 

 which is distributed as follows : Increase in real- 

 estate assessments, $85,480,488 ; increase in personal- 

 estate assessments, $4,056,755; total, $89,537,243. 

 The total taxation on personal estate was distrib- 

 uted as follows : Insurance companies, $2,807.533 ; 

 trust companies, $4,881,188; shareholders of banks, 

 $82,624,193; railroad companies, $13,181,407: resi- 

 dent corporations, $47,945,164 : nonresident corpo- 

 rations, $20,797,434 ; personal nonresident, $25,670,- 

 647: personal resident, $90,984,047; and estates, 

 $86,084,149. 



