NEW YORK CITY. 



421 



and Representatives on the ground that its terms 

 injured the interests of the 31,000 men engaged 

 in the New England fishing industry. The New- 

 foundland fish in American markets would, it was 

 asserted, unduly cheapen salted fish to the Ameri- 

 can consumer. The treaty went to the United 

 States Senate, and at the end of the year had not 

 been ratified. 



NEW HAMPSHIRE. (See under UNITED 

 STATES.) 



NEW JERSEY. (See under UNITED STATES.) 

 NEW MEXICO. (See under UNITED STATES.) 

 NEW YORK. (See under UNITED STATES.) 

 NEW YORK CITY. Government. The 

 city officers during the year were: Mayor, Seth 

 Low; President of the Board of Aldermen, 

 Charles V. Fornes; Borough Presidents Manhat- 

 tan, Jacob A. Cantor; Brooklyn, J. Edward 

 Swanstrom; Queens, Joseph Cassidy; Bronx, 

 Louis F. Haffen; and Richmond, George Crom- 

 well all of whom were elected on the Fusion 

 ticket, having been nominated by the Republican 

 party and accepted by the Citizens' Union and 

 the Greater New York Democracy, except Joseph 

 Cassidy and Louis F. Haffen, who were Tammany 

 candidates, and took office on Jan. 1, 1902. Also 

 there are the following county officers: County 

 Clerk, Thomas L. Hamilton; District Attorney, 

 William T. Jerome; Sheriff, William J. O'Brien; 

 and Register, John H. J. Ronner all of Whom 

 were Fusion candidates and took office on Jan. 

 1, 1902. 



Finances. The gross funded debt of the city 

 of New York, Jan. 1, 1902, was $416,262,223.61, 

 an increase of $26,356,324.22 over that of 1901. 

 Deducting from this amount $4,322,997.69 of 

 special revenue bonds and $126,340,920.47, the 

 amount of all sinking-funds, including both in- 

 vestments and cash, the net permanent funded 

 debt is shown to be $285,598,305.45, an increase 

 of $20,332,329.54 for the year 1901. In addition 

 to revenue bonds issued in anticipation ~of the 

 collection of taxes, bonds were issued to a little 

 more than $42,500,000, and there were redeemed 

 bonds amounting to $16,500,000. The net growth 

 of the sinking-funds during the year, $7,000,000, 

 has offset more than 25 per cent, of the gross 

 increase of the permanent funded debt. When 

 it is considered that almost all the bonds issued 

 in 1901 run forty or fifty years, and that in this 

 sum are included $11,000,000 issued for the rapid- 

 transit railroad, which will be redeemed out of 

 the earnings of the road itself, it is clear that 

 the 'growth of the sinking-fund, as a whole, is 

 out of all proportion to the actual requirements 

 of the debt. It is estimated that in fifty years, 

 the time for which the longest city bonds are made 

 to run, even at the present annual rate of in- 

 crease, the increase of the sinking-funds would 

 redeem $750,000,000 of debt, without regard to 

 the capital of the sinking-funds; whereas at the 

 present time the gross funded debt is only $416,- 

 000.000 and the net permanent funded debt is 

 less than $286,000,000. The tax rate adopted by 

 the Board of Aldermen on Aug. 21, for 1902 wa.s: 

 Manhattan and Bronx, $2.27 for each $100 of as- 

 sessment. The rate for 1901 was $2.31. For 

 Brooklyn the rate was $2.35 ; Queens, $2.31 ; and 

 Richmond, $2.33. The amounts to be raised by 

 tax were: City budget, exclusive of State taxes, 

 $89,695,395.79; State taxes, $4.515.509.29. Coun- 

 ty budgets: New York, $2,295,708.75; Kings, 

 $1,182,790.50; Queens, $144,474; Richmond, $63,- 

 755; total, $97,897.633.33. From this should be 

 deducted general fund balances, miscellaneous re- 

 ceipts, and other items estimated at $11,396,- 

 711.67; balance, $86,500,921.66. To this must be 



added the estimated 2-per-cent. deficiency for non- 

 collected taxes of $1,730,018.42, making the net 

 amount to be raised by tax in the 5 boroughs, 

 $88,230,940.08. 



Taxes and Assessment. These are in charge 

 of the department of which James L. Wells is 

 president. The other members were Edward C. 

 Sheehy, Arthur C. Salmon, Thomas J. Patterson, 

 who died in 1902, and Ferdinand Levy (salaries 

 $7,000 each except the president, who receives 

 $8,000). They report the total valuation of real 

 estate and personal property assessed in 1902 

 to be $6,594,907,471, against $6,357,757,043 for 

 1901, an increase of $237,150,428. This amount 

 was distributed as follows: Assessed value of real 

 estate: Manhattan, $2.196,571,028; Bronx, $145,- 

 050,173; Brooklyn, $633,780,958; Queens, $104,- 

 131,496; Richmond, $37,588,014; total, $3,122,- 

 121,669. Assessed value of personal estate: Man- 

 hattan, $2,995,684,916; Bronx, $43,593,045; Brook- 

 lyn, $365,823,341 ; Queens, $32,697,900; Richmond, 

 $34,986,600; total, $3,472,785,802; grand total, 

 $6,594,907,471. Real estate of the appraised value 

 of $500,000,000 in New York County is exempt 

 from taxation. Thus Mulberry Bend Park is es- 

 timated to be worth $1,000,000; and Paradise 

 Park near by is valued at only $90,000. The val- 

 uation of the land of the Cathedral of St. John 

 the Divine is $2,200,000, of St. Patrick's Cathe- 

 dral and its site $3,600,000, of Trinity Church and 

 its cemetery $6,000,000. The most valuable ex- 

 empt site in the Bronx outside of its parks is 

 Woodlawn Cemetery, valued at $2,250,000. The 

 Jerome Park reservoir is valued at $2,000,000, 

 New York University at $400,000, the Wash- 

 ington Bridge at $250,000, and the Third Avenue 

 Bridge at the same figure. The present Custorn- 

 House is valued at $2,800,000, Fulton Market at 

 $500,000, the Criminal Courts Building at $1,500,- 

 000, the Henry Street school at $350,000, St. 

 Mark's Church and cemetery on Second Avenue 

 at $192,000, the Astor Library at $250,000, Cooper 

 Union at $600,000, the Blind Asylum at 34th 

 Street and Ninth Avenue at $825,000, the Ninth 

 Regiment Armory at $500,000, the State arsenal, 

 35th Street and Seventh Avenue, at $600,000, the 

 Masonic Temple at $1,000,000, Bellevue Hospital 

 at $1,600,000, Roosevelt Hospital at $825,000, Nor- 

 mal College at $900,000, Presbyterian Hospital 

 at $1,200,000, St. Luke's Hospital at $1,500.000, 

 and General Theological Seminary at $1,250,000. 



Board of Estimate and Apportionment. 

 This body consists of the Mayor, the Comptroller, 

 President of the Board of Aldermen, and presi- 

 dents of the boroughs. This board allowed the 

 following-named amounts for 1903: The mayor- 

 alty, $59,800; Board of Aldermen and city clerk, 

 $153,152; Department of Finance, $983.280.60; in- 

 terest on the city debt, $13,276,709.68; redemp- 

 tion of the city debt, $10,417,359.17; State taxes, 

 $550,157.28; rents, $352,095.07; Law Department, 

 $460,560; President of Borough of Manhattan, 

 $1,705,430.50; President of Borough of the Bronx, 

 $1,026,000; President of Borough of Brooklyn, 

 $1,164.260.25; President of Borough of Queens, 

 $769,308.63; President of Borough of Richmond, 

 $372,980; Department of Bridges, $423,038.38; 

 Department of Water-Supply, Gas, and Electric- 

 ity, $4,582,852.23: Department of Parks, $1,982,- 

 333.95; Department of Public Charities, $1,802,- 

 490.16; Bellevue and allied hospitals, $595,580.78; 

 Department of Correction, $791,072.50; Depart- 

 ment of Health, $1,034.391.48; Tenement-House 

 Department, $466,433.08; Police Department, 

 $11.566.680.42; Board of Elections, $838,275; De- 

 partment of Street Cleaning. $5.362,112.20; Fire 

 Department, $5,218,300.28; Department of Taxes 



