lars ($1,442.06) has been deposited to the credit of the Sinking Fund for the Payment of the Interest on the City Debt. Respectfully,

Resolved, That a warrant payable from the Sinking Fund for the Payment of the Interest on the City Debt, be drawn in favor of the Chamberlain for the sum of fourteen hundred and forty-two and six one-hundredths dollars ($1,442.06), for deposit in the City Treasury to the credit of "Croton Water Rent Refunding Account," for refunding erroneous and overpayments of Croton water rents, as per statement submitted herewith.

Which resolution was unanimously adopted.

The Comptroller presented the following report and offered the following resolution relative to a renewal of the lease of premises located on the north side of Voorhees avenue, 150 feet west of the Shore road, in the Borough of Brooklyn, for the use of the Police Department:

Hon. EDWARD M. GROUT, Comptroller:

NOVEMBER 15, 1904.

SIR-The Commissioner of the Police Department, in a communication under date of October 1, 1904, requests renewal of a lease of the premises occupied as a Police station for the Sixty-eighth Precinct. located on the north side of Voorhees avenue, 150 feet west of Shore road, Borough of Brooklyn.

This property has been occupied as a Police station-house for several years. The rent was formerly $1,000 per annum, but was increased last year to $1,200. The station-house is a two-story and mansard and cellar frame building, about 40 by 40 feet, on high brick foundation, and has twenty rooms and bath-room, and three brick cells in the cellar. On the rear of the lot are a one-story frame barn, 20 by 30 feet, and two other smaller one-story frame buildings, 12 by 12 feet and 10 by 10 feet. The plot of ground is 66 feet front by 225 by 87 by 199 feet 6 inches. The buildings are in good repair and are well adapted for their purpose.

The new station-house now in course of erection for the Sixty-eighth Precinct, which the letters herewith state, will be ready for occupancy about February, 1905, is now only up to the second tier of beams, and work has been practically suspended upon it for the past thirty days or more, waiting for iron and terra cotta. Captain Ernest Lindemann, in charge of the Sixty-eighth Precinct, informs me that he does not expect the new station-house to be ready for use before next July or August, and I am of the opinion that it will be even later.

I have been unable to find any other building in the neighborhood which might be used for Police purposes after the 1st of January up to the time of the completion of the new station-house. Even if such another building could be found, the cost of fitting it up for Police use would probably amount to more than the rental of the present building. As to the rental asked for the present quarters for the ensuing year, after investigation, I have to report that lots 20 by 100 feet in Voorhees avenue in this immediate neighborhood are held at about $1,500 each. A plot 40 by 100 feet, about 125 feet south of the station-house on the same side of Voorhees avenue, with two-story and attic cottage, 26 by 44 feet, eleven rooms, rents for $750 a year, and is in the market for sale at $7.500. Figured upon this basis, the plot occupied as a Police

station, 66 feet front by 212 feet in depth. is fairly worth $7,000, and the land and buildings are fairly worth from $12,000 to $14,000.

The winter's coal, amounting to between thirty and forty tons, has already been delivered at the present station, and this coal would have to be recarted to any other station-house that would be rented, even if such a station-house could be found.

After a thorough investigation, I am of the opinion that the rent asked for the present station-house in Voorhees avenue, $1,200 a year, is not excessive, and that, as a matter of economy to the City, the lease should be renewed for another year from January 1, 1905, as requested by the Police Commissioner.

Approved:

Respectfully submitted,

MORTIMER J. BROWN,

Appraiser of Real Estate in Charge of Bureau.

EDWARD M. GROUT, Comptroller.

Resolved, That the Comptroller be and is hereby authorized and directed to execute a renewal of the lease to the City, from Eleanor C. Dickerson, of premises on the north side of Voorhees avenue, 150 feet west of the Shore road, in the Borough of Brooklyn, for the use of the Police Department, for a term of one year from January 1, 1905. at an annual rental of twelve hundred dollars ($1,200), otherwise upon the same terms and conditions as contained in the existing lease; the Commissioners of the Sinking Fund deeming the said rent fair and reasonable and that it would be for the interests of the City that such lease be made.

The report was accepted and the resolution unanimously adopted.

Adjourned.

N. TAYLOR PHILLIPS, Secretary.

COMMISSIONERS OF THE SINKING FUND OF THE CITY OF NEW YORK.

Proceedings of the Commissioners of the Sinking Fund, at a Meeting Held in Room 16, City Hall, at 11 o'clock A. M., on Wednesday, December 21, 1904.

Present-George B. McClellan, Mayor; Edward M. Grout, Comptroller Patrick Keenan, Chamberlain; Charles V. Fornes, President, Board of Aldermen, and John T. McCall, Chairman Finance Committee, Board of Aldermen.

The minutes of the meetings held November 30 and December 5, 1904, were approved as printed.

The Comptroller presented the following report of the Engineer of the Department of Finance and offered the following resolution, relative to the proposed lease to the New York Central and Hudson River Railroad of certain trackage rights on the marginal street on the North river, between West Thirty-second and West Thirty-seventh streets (see pages 661, 778, 816, 863):

Hon. EDWARD M. GROUT, Comptroller:

DECEMBER 20, 1904.

SIR-Pursuant to the resolution of the Commissioners of the Sinking Fund, at the meeting held December 5, 1904, referring the matter of terms and conditions granting the New York Central and Hudson River Railroad certain trackage rights on the marginal street on the North river, between West Thirty-second and West Thirty-seventh streets, to a conference committee to be composed of a representative from the railroad, the Chief Engineer of the Dock Department and the Engineer of the Department of Finance, I would advise you that such conference was held, Mr. Ira A. Place representing the railroad, Mr. John A. Bensel the Dock Department and Mr. H. P. Nichols the Department of Finance.

The minor terms were substantially agreed upon, and Mr. Place stated that he would leave the rate of compensation to be determined by a vote of the Commissioners of the Sinking Fund.

Mr. Place objected to three of the conditions in the resolution, and insisted that these points should be settled by the Corporation Counsel, as they were matters of law. This was done, and the Corporation Counsel, in an opinion dated December 16, 1904, advised the Comptroller that the amendments offered should not be inserted in the lease.

Subsequently Mr. Place held a conference with you and claimed that as the rate of compensation demanded by the City included the tracks which were to be laid in Twelfth avenue, under the authority of the resolution adopted by the Board of Aldermen in 1867, that there should be some reference made to the same in the lease, in order that it could not be claimed in the future that the railroad company was not paying anything for the tracks so laid in Twelfth avenue under the said resolution.

In consequence I have caused to be inserted after the clause providing for the compensation, the following:

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"The annual rental, as fixed above, is determined by the Commissioners of the Sinking Fund as full compensation for all the tracks in the streets shown by dotted "red lines on the map attached."

All of the remaining points of difference were arranged, and I am now enabled to present a form of resolution upon which all the parties to the conference are substantially agreed.

Respectfully,

EUG. E. McLEAN, Engineer.

Resolved, That the Commissioners of the Sinking Fund hereby approve of and consent to the execution by the Commissioner of Docks, of a lease to the New York Central and Hudson River Railroad Company, of the right to lay, maintain and operate railroad tracks in and upon the marginal street where now constructed and open on the North river, between West Thirty-second street and West Thirtyseventh street, in the Borough of Manhattan, and as shown on a map entitled "New York Central and Hudson River Railroad, Proposed Improvement on Twelfth Avenue, Between Thirty-second and Thirty-seventh Streets, Dated July 9, 1904. H. Fernstrom, Chief Engineer."

The centre lines of the proposed tracks being shown in red dashed and dotted lines on the said map, copy of which is attached hereto and made part hereof, and upon the following terms and conditions:

First-The lease shall be for a period of time coterminous with the lease now held by the New York Central and Hudson River Railroad Company for the pier at the foot of West Thirty-sixth street, and authorized by this Board on August 12, 1904, unless sooner terminated, and at the following annual rentals:

During the first ten years, or until October 8, 1914, $1,580 per annum.

During the second ten years, $1,800 per annum.

During the third ten years, $2,000 per annum.

Provided that if The City of New York is or shall become entitled to acquire, and shall at any time during the term of the lease acquire or otherwise come into