Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: [v. 101, no. 2617: Articles]: [May 11, 1918]

Text version:

Debt Limit Dooms Municipal Ownership Senator Elon R. Brown Makes Public Figures Showing Actual Financial Condition of Principal Cities of New York State (Special to the Record and Guide.) ALBANY, May 8.—As a basis for the commence¬ ment of work by the Argetsinger Municipal Ownership Investigating Commission, which is to inquire into the whole question of municipal owner¬ ship and report to the next Legislature, Senator Elon R. Brown, president pro tern of the Senate, has turned over to the Commission an analysis of the financial conditions of the cities of the State. This analysis was prepared as a result of the demands of New York City and several up-state legislators for the enactment of municipal ownership laws at the last session of the Legislature. It is an eifective reply to these demands, presenting the cold figures which in practically every instance indicate the absolute futility of municipalities atte^npting to take over public utihties.. The potential margin of debt-incurring capacity of New York City, according to this tabulation, which has just been made public, is $102,958,766; ,of Buffalo, $29,793,442; of Niagara Falls, $6,014,402; of Schentectady, $5,753,870; of Troy $3,441,583. The cities whose debt incurring capacity is given below are centers where municipal ownership has become a matter of every-day agitation, communities represented by mayors and legislators who favored on the floor of the Legislature the adoption of a state-wide municipal ownership bill. It has not been announced as yet when the Legislative Commission will formally commence its hearings. The belief is that the preliminary work will keep the experts busy until the summer months, at which time the Com¬ mission will be ready, the preliminaries having been disposed of, to inquire directly into the feasibility of the municipal ownership schemes laid before the Legis¬ lature by Senator Wagner of New York City and Senator Thompson of the Niagara-Orleans district. The Brown analysis is here given in full: STATEMENT OF FINANCIAL CONDITION OF THE CITIES OF THE STATE. Albany .............$106,887,460 Amsterdam ........ 17,108.347 Auburn ..■.....■..-... ■ 21.457,693 Batavia ............ 11,248,337 Beacon ...........'.. 6,758.144 Binghamton •......-... 41,422.483 Buffalo ............. 507,043,025 CanandaigUa ...... 4,783,188 Cohoes ;........... 12,096,618 Corning ........... 9,132,521 Cortland........... 8,923,409 Dunkirk........... 9.914,011 Elmira ............ 31,575,247 Fulton^ ,r.....\:.... 6,631,112 Geneva ............ 10,417,297 Glen Cove ......... 7,947,439 Glens Falls ......... -9.287.755 Gloversville....... 9.090.962 Hornell ............ 7,442.500 Hudson ............. 5.163.365 Ithaca, ............. 15,242,445 Jamestown ..;..... 22,828,020 Johnstown :..........3.800.355 Kingston,........... 15.589,597 Lackawanna ....... 10,677,403 Little Falls ..-..•.... 7,368,285 Lockport .......... 11,188,957 Mechanicville ..... 2.949.925 Middletown ..:...-. 8,565,475 Mount Vernon ___ 42,345,304 Newburg .......... 14,511.873 New- Rochelle ....-.■. 66.966.777 New York. Greater.8,254.549,000 Niagara Falls ...... '83,306,210 North Tonawanda.. 12,105,354 Norwich ,.......... 3,514,250 Ogdensburg ........ 5,693,215 Olean. .."............; 10,435,870 Oneida ............ 5,101,254 Oneonta :'.....'l',.;. 5,631.875 Oswegb .v:v,.,.w.. - '12,878,654 Plattsburg ..,...,, 3.000,060 Poughkeepsie ..... 27,190,314 Port Jervis ........ 3.938,845 .Rensselaer........ 5.989,905 Rochester ......... 264,952,860 Rome .....-,........ -10,831.720 Salamanca ......... 4,887.319 Saratoga Springs".. 9,408,487 Schenectady :...... 66,028,590 Sherrill .............. 398.862 Syracuse.......... 152,552.248 Tonawan'da '.....'... 12.538.231 Troy................. 59.785.034 Utica .........•..... 51,732.445 Watertown ........ 16,126;315 Watervliet ......... 5,754.952 White Plains ...... 24,274,080 Yonkers ........... 125,034,011 _____, tn *-> 80 $ 57 75 83 75 77 91 70 ■ -85 86 73 65 85 55 75 ■ 60 ■ 60 55- ■■ 75 .60 75 68 55 75 58 ■ 70 61 50 50 72 58 ■ 97 94 8 100 80 53 70 ■ 62 64 60 77 50 80 50 75 83 52 72 81 ■65 • 40 83 73 90 ■ 62' ■ '62 85 60 85 £1 a t3 t* cd o; «] 1^ f- QJ 133,609,325 30,014,640 28,610,257 13,552.213 9,010,857 53.795.432 557,190,137 6,975,982 14,231,315 10,619,210 12,223,847 15,252,324 37,147,349 12,056,567 13,889,729 13.245,731 15,479,591 16,529,021 9,923,333 8.605.608 20,323,260 33,570,617 6,909,736 20,786,129 18,409,315 10,526,121 18,342,552 5,899,850 17.130,950 58,812,922 25.020,470 69,039.976 ,781,435,116 83,306,210 15,131,692 6,630,660 8,133,165 17,154,629 7,970,709 9,386,458 16,725,524 7,200,120 33,987,892 7,877,690 7,986,540 319,220,313 20,830,230 6,787,943 11,615,416 101,582,446 997,155 183,797,889 17,175,521 66,427,815 83,439,427 26,010,185 6,770,531 40,456,800 147,098,836 $10,688,746 1,710,834 2,145,769 1,124,833 675,814 4,142.248 50,704,302 478,318 1,209,661 913,252 892,340 991,401 3,157,524 663,111 1,041,729 794,743 .. 928,775 909,096 744,250 510,336 1,524,244 2,282,802 380>035 1,558,959 1,067,740 736,828 1,118,895 294,992 856,547 4,234,530 1.451,187 6,696,877 825,454,900 8,330,621 1,210,535 351 ,,425 569,321 1,043,587 510,125 563,187 1,287,865 360,006 2,719,031 . 393,884 598,990 26,495,286 1,083,172 488,731 940,848 6,602,859 39,886 15,255,224 1,253,823 5,978,503 5,173,244 1,612,631 575,495 2,427,408 12,503,401 $13,360,932 3.001,464 2.861.025 1,355,221 901.085 5.379,543 55,719,013 697,598 1,423,131 1,061,921 1.222,384 1,525,232 3.714.734 1,205.656 1,388,972 1.324.573 1,547,959 1.652.902 992.333 860,560 2,032,326 3,357,061 690,973 2,078,612 1,840,931 1,052.612 1,834,255 589.985 1,713,095 5.881.292 2,502,047 6.903,997 878,143,511 8.330.621 1,513,169 663.066 813.316 1.715,462 797,070 938.645 1,672,552 720,012 3,398,789 787,769 798,654 31.922,031 2,083,023 678.794 1,161.541 10,158,244 99,715 18.379.788 1.717.552 6,642,781 8,343.942 2.601,018 677,053 4.045.680 14,709,883 SB ^.S $ 7,292.558 1,265.000 1,011,398 777.315 421,460 2,500.927 25,925,571 125,000 809,200 375.853 478,822 178.131 2.671,500- 514.557 370,865 303,000 289,050 805,485 376,850 358,200 1,131,724 1,083,416 216,696 1,047.500 416.000 509.900 842,487 214,685 233,484 4.012.016 685.932 2,827.966 775,184,745 2,316.219 737,800 228.298 220.300 512.554 202,777 243.220 645,500 306.500 2,308.390 153,000 512,005 20.493.884 704,159 335,169 440.500 4,404.274 - 747 11.236,651 380.680 3.201.198 2.739.581 1,372.707 355,202 2,501,494 8,479,306 *s at 3 &3 ft-o $ 3,396,188 445,834 1,134.371 347,518 254.354 1,641.321 24,778.731 353,318 400,461 537,399 413,518 813,270 486.024 148,554 670,864 491,743 639,725 103,611 367,400 158,136 392,520 1.199.386 163,339 511,459 651,740 226,928 276.408 80,307 623,063 222,514 765,255 ' 3,868.911 50,270,155 6.014.402 472,735 123.127 349,021 531,033 307,348 319.967 642,365 53,506 410.641 240,884 86,985 6,001,402 379,013 153,562 500,348 2,198,585 39,139 4,018,573 873.143 2,777,305 2.433.663 239,924 220,293 "4,'02'4^695 $ 6,068,374 1,736,464 1,849,627 577,906 479,625 2,878,616 29,793,442 572,598 613,931 686,068 743,562 1,347,101 1,043,234 691,099 1,018,107 1,021,573 1,258,909 847,417 615,483 502,360 900,602 2,273,645 474,277 1,031,112 1,424,931 542.712 991,768 375,300 1,479,611 1,869.276 1,816,115 4.076,031 102,958,766 6.014,402 775.369 434,768 593,016 1,202,908 594,293 695.425 1,027,052 413,512 1,090,399 634,769 286,649 11.428.147 1,378,864 343,625 721,041 5,753,970 98,968 7,143,137 1.336,872 3,441,583 5,604,361 1,228,311 321,851 1,544,186 6,230,577 .0288 .03573 .032 .01307 .0281 .0411 .0261 .02448 .0263 .0229 .0218 .0282 .02655 .03965 .0216 .0387 .0338 .0388 .03214 .0349 .0264 .03364 .0424 .0384 .04287 .0198 .0369 .04117 .0358 .0275 .0321 .0229 .0204 .01502 .02709 .0398 .0319 .0285 .035 .0323 .0396 .045 .0238 .052 .0375 .0226 .0427 .0272 .03625 .0304 .0799 .026 .0292 .0274 .0351 .0333 .043 .0303 .0286