524 



NEW YORK CITY. 



Total funded debt $166,470,849 59 



Less amount held by commissioners of the sinking fund as investments 62,266,762 64 



Cash 3,441,679 44 



Total $65,708,442 08 



Net funded debt, Dec. 81, 1898 $100.762,407 51 



curities into 3-per-cent. bonds having forty or 

 more years to run. Nearly $20,000,000 of reve- 

 nue, bonds, the interest on which approximated 

 $300,000, were issued in 1893 to pay the expenses 

 of the city until the receipts from taxation be- 

 came available. The financial stringency made 

 it necessary in some cases for the city to pay 6 

 per cent, interest. During the past fifty years 

 the money borrowed in anticipation of the col- 

 lection of taxes has cost the city in interest al- 

 most $15,000,000. The tax rate for 1893 was 

 $1.82 on each $100 of assessment, which was the 

 lowest rate known in this city for thirty years. 



Board of Estimate and Apportionment. 

 This body, consisting of the Mayor, the Presi- 

 dent of the Board of Aldermen, the Comptroller 

 (Theodore W. Myers), and the President of the 

 Department of Taxes and Assessments (Edward 

 P. Barker), allowed the following amounts for 

 1894: Mayoralty, $28,000; Common Council, 

 $88,000 ; Finance Department, $302,200 : interest 

 on city debt, $5,134,199.59 ; redemption of princi- 

 pal of city debt, $1,877,000.44; State taxes, 

 $4,112,266.62 ; rents, $141,480 ; armories and drill 

 rooms rents, $27,175 ; armories wages, $59,- 

 196; judgments, $125,000; Law Department, 

 $206,900; Department of Public Works, $8,061,- 

 960; Department of Public Parks, $1,177,195; 

 street improvements, $359,360 ; Charities and 

 Correction, $2,295,675 ; Health Department, 

 $425,080; Police Department, $5,139,147.64; De- 

 partment of Street Cleaning, $2,367,390; Fire 

 Department, $2,240,397 ; Building Department, 

 $204,700; Tax Department, $128,220 ; Board of 

 Education, $4,634,134.27; College of the City of 

 New York, $150,000 ; Normal College, $125,000 ; 

 printing, stationery, and blank books, $272,200 ; 

 municipal service examining boards, $25,000; 

 coroners, $54,700 ; commissioners of accounts, 



$32,500; sheriff, $122,932; register, $130,000; 

 Bureau of Elections, $374,450 ; preservation of 

 records, $45,430 ; street and park openings, 

 $100,000; jurors' fees, $65,000; salaries, city 

 courts, $383,300 : salaries, judiciary, $1,161,890; 

 miscellaneous, $134,794.69; libraries, $40,000; 

 charitable institutions, $1,312,384.44; total, $38,- 

 664,257.69. Deduct general fund, $3,600.000; 

 grand total, $35,064,257.69. 



This statement shows that the amount al- 

 lowed for 1894 is $38,664,257.69, which is re- 

 duced by deducting the general fund made up by 

 receipts from various sources during the year, 

 including the unexpended balance of previous 

 years amounting to $"3,600,000. The total amount 

 to be raised by taxation is $35,064,257.69, which, 

 as compared with the allowance made for 1892, 

 shows an increase of $1,620,103 over the amount 

 given last year ; but as there was available from 

 the general fund $3,266.725.13, the absolute in- 

 crease was $886.824.14, which is more than made 

 up by an increase of $567,808.29 in the State 

 tax, $377,979.34 in the fund for the redemption 

 of the city debt, and $189,617.50 in the interest 

 fund, all items mandatory upon the board and 

 entirely apart from current expenses. Deduct- 

 ing these items, the budget shows a net decrease 

 for 1894 of $244,576.99 on current expenses. 



Wealth of the City. This department is a 

 county trust, and is cared for by three tax com- 

 missioners, including Edward P. Barker, John 

 Whalen, and Joseph Blumenthal, of whom the 

 first named is president. They report the total 

 valuations of real and personal property as as- 

 sessed for taxation in 1893 at $1,933,518.528.90, 

 as against $1.828.264,275 in 1892, showing a total 

 increase of $105,254,253.90, which is distributed 

 as follows : Real estate, $57,677,790 ; banks, $10,- 

 299,703.90 ; corporations resident, $12,559,815 ; 



