62 HISTOllY OF THE 



commissioners of the Supreme Court, they awai-ded 

 $1,499,429, of which, deducting the betterments assessed 

 1425,906, left the balance upon the city $l,07::j,523. 



This award, ])eing unsatisfactory to the 2)ark com- 

 missioners, they voted to discontinue proceedings luider 

 the act, wliich, by decision of the court, left matters as 

 if nothing had been accomplished and a new board of 

 assessment was appointed, who reported in March, 

 1863, total amount, $1,179,590, of which was assessed 

 |171,085, leaving a balance upon the city of |1,0{)8,- 

 565. The amount paid for these lands Avas f 15,725 per 

 acre, or 36.25 cents a square loot. The centre of this 

 area is about six miles from the city hall. 



The proceedings for taking these lands wei'c hardly 

 consummated before the Central Park commissioners 

 were showing by their reports that there was a rapid 

 increase in the valuation of the estates surroundinii- the 

 park, and that the tax on the increased valuation would 

 meet the interest on the cost, and sink the principal in 

 live years. The valuation of the three wards, 12, 19 

 and 22, which surround the i)ark, was as follows: — in 

 1856, $26,429,565; in 1858, $31,002,071; in 1863, $51- 

 119,499; in 1868, 117,926,230; in 1873, 236,081,515. 



Since 1873, the inauguration of the elevated ]-ailroads 

 and other grand impi'ovements have contributed large- 

 ly to the increase of valuations, but up to 1873 the addi- 

 tion in values had been in a great degree caused by the 

 superior attractions given to that entire part of ISTew 

 York by the embellishments of Central Park. 



Up to this time the total cost of Central Park had 

 been $13,902,515, and the sum paid during the 14 years 

 as annual payments of interest aggregated $8,440,189, 



