NEW YORK (CITY). 



577 



provided the dividend is not a mere infla- 

 tion." 



Miscellaneous Incidents. On the 18th of Octo- 

 ber the one-hundredth anniversary of the dis- 

 banding of the American army of the Revo- 

 lution was celebrated at Newburg. There was 

 a military parade in the streets of the town, 

 and a naval display on the Hudson river, a 

 general decoration during the day and illumi- 

 nation in the evening, and appropriate literary 

 and festive ceremonies. 



On the 20th of December a new railroad- 

 bridge across the Niagara river, constructed on 

 the cantilever principle, was opened. (See EN- 

 GINEERING.) 



Loren B. Sessions, who had long been un- 

 der indictment for alleged bribery or attempt 

 to bribe a member of the Assembly during the 

 senatorial contest of 1881, when he was a mem- 

 ber of the State Senate, was acquitted at Al- 

 bany on the 18th of October. (See " Annual 

 Cyclopsedia," 1881, NEW YORK. For further 

 details of affairs of New York city, see that 

 title in this volume.) 



NEW YORK CITY. The financial condition 

 of the city of New York has somewhat im- 

 proved in recent years, though the expense of 

 carrying on the municipal government has 

 steadily increased. The total amount of the 

 funded debt at the close of the year was $130,- 

 680,570.84; but against this was a sinking fund 

 of $38,134,544.96, leaving the net indebtedness 

 at $92,546,025.88 a decrease of $3,595,922.70 

 for the year. There were outstanding $2,953,- 

 600 of the revenue bonds of the year, which 

 are issued in anticipation of receipts from taxes. 

 The total amount of these bonds issued during 

 the year was $16,324,800, against $19,247,300 

 1882; and the redemptions amounted to 

 513,371,200 for the issues of the year, and $4,- 

 )62,600 for those of previous years which were 

 taken up. Stocks and bonds falling due in 

 1884 amount to $10,469,631.37. The credit of 

 le city is shown by the fact that the first in- 

 stallment of "additional water stock" to the 

 amount of $50,000, issued on account of the 

 lew aqueduct, redeemable in thirty and paya- 

 ble in fifty years, with 3 per cent, interest, was 

 )romptly taken at a premium of 1 P er cent - 

 is on revenue bonds have been effected at 

 per cent. Receipts for the sinking fund 

 for the redemption of bonds amounted to $9,- 

 061,252.56 for the year, and payments from 

 it to $7,891,061.89, leaving a balance of $1,- 

 170,190.67. Receipts of the sinking fund for 

 the payment of interest were $2,763,199.37; 

 payments, $2,679,528.20 ; balance, $83,671.17. 

 The receipts of the city treasury for the year, 

 including a balance of $3,390,884.55 from the 

 previous year, and $20,998,866.70 from the is- 

 sue of bonds, were $56,908,291.78; the pay- 

 ments were $54,262,086.89, including $18,364,- 

 734.40 for bonds redeemed, leaving a balance 

 of $2,646,104.89. The total cash in the treas- 

 ury from all balances at the end of the year 

 was $3,899,966.73. The tax-levy of the year 

 VOL. xxni. 37 A 



was $29,167,029.81, and the general tax-rate 

 was 2-29 per cent, on $1,249,524,258 assessed 

 value of real and personal property, and 2-0324 

 per cent, on $27,152,906 valuation of personal 

 property of corporations doing business in the 

 city, which are exempt from taxation for State 

 purposes, except on real estate. The amount 

 of taxes collected up to December 31st was 

 $24,333,510.97, on which a rebate of $148,- 

 257.72 was allowed for payment before No- 

 vember 1st. The total assessed value of prop- 

 erty for the year was $1,276,677,164, an in- 

 crease of $43,200,765.67 over the previous 

 year. The total appropriations for the year 

 1884, as allowed by the Board of Estimate and 

 Apportionment, on estimates from the differ- 

 ent departments, amount to $34,046,165.60, 

 being an increase of $3,369,380 over those of 

 the previous year. Of the full amount, $21,- 

 208,885.39 is apportioned by specific provisions 

 of law, and is beyond the control of the Board 

 of Estimate and Apportionment. The full city 

 budget for 1884, compared with that of 1883 

 and with the estimates, is as follows : 



General Statistics. The estimated cost of new- 

 buildings, for which plans were filed in the 

 Building Bureau, for the year, was $43,214,- 

 346, the number of buildings being 2,748. 

 This was an increase of 141 in the number of 

 buildings, and a decrease of $1,578,840 in the 

 aggregate cost as compared with the previous 

 year. The cost of alterations in old structures 

 for which plans were filed was $4,540,885, 

 against $4,267^181 for the previous year. The 

 growth in building operations for ten years is 

 shown in the following : 



