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 Thursday, December 14, 1916.

Present-Frank L. Dowling, President, Board of Alderman; Albert E. Hadlock, Deputy and Acting Comptroller; Milo R. Maltbie, Chamberlain; Francis P. Kenney, Chairman, Finance Committee, Board of Aldermen.

Dock Department-Proposed Amendment to Leases of Certain Ferry Franchises. The Deputy and Acting Comptroller brought up the matter of the communication from the Commissioner of Docks, requesting authority to amend all leases or renewals thereof, of franchises to operate ferries in connection with an Interstate railroad, by changing the provisions therein contained which have to do with the rates of ferriage to be charged on said ferries, which was on the calendar of the last meeting and laid over.

Which was again laid over.

Dock Department-Lease to the Delaware, Lackawanna & Western Railroad Company of a Ferry Franchise.

The Deputy and Acting Comptroller brought up the matter of the communication from the Commissioner of Docks requesting approval of a lease to the Delaware, Lackawanna & Western Railroad Company, of a franchise to operate ferries from and to the foot of Barclay st., Christopher st, between W. 22nd and W. 23rd sts, North River, Borough of Manhattan, to and from the Delaware, Lackawanna and Western Railroad Terminal in Hoboken, N. J., and the wharf property owned by The City of New York at the foot of Barclay st., Christopher st. and between W. 22nd and W. 23rd sts, North River, Borough of Manhattan, now used in connection with said ferries, together with the right to use the structures thereon, which was on the calendar of the last meetting and laid over.

Captain Emery and an attorney for the D. L. & W., were interrogated by the Deputy and Acting Comptroller with reference to the following clause which he suggested be incorporated in the resolution:

"The lease is to contain a clause that the rates of ferriage to be charged shall not be greater than those now charged on said ferries, as per schedule attached, nor greater than those fixed by the Commissioner of Docks in cases not covered by the said schedule, unless the same are hereafter changed in the manner prescribed by an Act of Congress entitled, 'An Act to regulate Commerce,' and the acts amendatory thereof and supplementary thereto."

The representatives of the Railroad Company had no objection to offer to the clause. It was agreed that when the matter appeared on the next calendar the resolution contain the above mentioned clause.

The matter requiring an unanimous vote, action thereon was laid over.

Dock Department-Agreement with Morris Weinstein for the Sale to the City of Bulkhead Rights Between E. Houston St. and E. 3d St., Borough of Manhattan.

The following was received from the Commissioner of Docks : Pier A, North River, October 16, 1916. Hon. JOHN PURROY MITCHEL, Mayor, and Chairman of the Commissioners of the Sinking Fund:

Sir I transmit herewith four copies of agreement between Morris Weinstein and The City of New York, acting by the Commissioner of Docks, for the sale and purchase of the bulkhead rights between East Houston Street and East Third Street, East River, Manhattan, for the sum of $14,000.

This proposition was first brought to my attention by the President of the Department of Taxes and Assessments under date of January 5, 1916, in a letter as follows:

"At a hearing held before the Tax Commissioners on January 3, 1916, for a reduction of the 1916 tentative assessment on the bulkhead property known and described on the Tax Rolls as Section 2, Block 320, Lot 14, the owner, Mr. Morris Weinstein, appeared and agreed to sell the said property to The City of New York for the sum of fourteen thousand dollars ($14,000), and on the same date confirmed his offer in writing.

"The property comprises 116 feet of bulkhead, situated on the east side of East Street, extending from Houston to East Third Street, and is assessed for the year 1916 at $23,000; at the rate of $200 per lineal foot. The offer of Mr. Weinstein to sell to The City of New York for the sum of fourteen thousand dollars ($14,000), places the value of the bulkhead at a trifle over $120 per lineal foot.

"The acceptance of this offer by the City presents an opportunity to acquire waterfront property on the East River at a figure lower than that ever paid for similar property and which at the same time is considerably less than the cost of the property to the owner.

"The bulkhead was acquired by Mr. Weinstein in 1901, and I have been informed that the consideration was fourteen thousand dollars ($14,000). * * A communication was then addressed to the Comptroller stating that if he approved the suggestion it might be an advantage to have an appraisal made, with a view to negotiating for the property at private sale, and under date of September 26, 1916, he replied:

"Referring to your communication of May 4, 1916, wherein you state that under date of January 25, 1916, a communication was received by your Department from the President of the Department of Taxes and Assessments transmitting copy of an offer of Mr. Morris Weinstein to sell the bulkhead property between Houston and East Third Streets, East River, for the sum of $14,000, and that Mr. Purdy in his letter asserts that the property is assessed for the year 1916 at $23,000, and that the acceptance of said offer by the City presents an opportunity to acquire waterfron property on the East River at a figure lower than that ever paid by the City for similar property, and at the same time is considerably less than the cost of the property to the owner, I note your statement that the bulkhead in question can be utilized to advantage by your Department by the building of a platform on land under water belonging to the City, which platform when built can be leased at a rental which will more than com pensate the City for the cost of the bulkhead property and the expense of building the platform, asking that an appraisal of the same be made by the Real Estate Division of my Department.

"I am informed by the Appraiser of Real Estate of this Department that the premises are reasonably worth $20,300, and I would therefore suggest that you take such steps as may be necessary to acquire said property for the use of your Department."

I therefore recommend that a resolution be adopted approving of the agree ment, which has heretofore been approved as to form by the Corporation Counsel. Yours respectfully, R. A. C. SMITH, Commissioner of Docks. This agreement made and entered into on the seventeenth day of October, nineteen hundred and sixteen, by and between Morris Weinstein, of No. 1621 Madison avenue. Borough of Manhattan, New York City, party of the first part, and The City of New York, acting by the Commissioner of Docks of said City, party of the second part:

Whereas, it appears that the said party of the first part is the owner of the following described premises:

All that certain bulkhead situate, lying and being on the easterly line of Tompkins Street, in the Borough of Manhattan, City, County and State of New York, between East Houston Street and East Third Street, bounded and described as follows:

Beginning at a point on the easterly line of Tompkins Street where the same is intersected by the northerly line of East Houston Street, or continuation thereof, and running thence northerly along the easterly line of Tompkins Street to a point where the same is intersected by the southerly line of East Third Street, or continuation thereof, containing one hundred and sixteen (116) linear feet, more or less; and also all the estate, right, title and interest of the said parties of the first part of, in and to the wharfage rights, terms, easements, emoluments and privileges appurtenant to said bulkhead; and also all the estate, right, title and interest of the said parties of the first part of, in and to the lands in Tompkins Street between the projection of the said northerly line of East

Houston Street and the southerly line of East Third Street; and all the estate, right, title and interest of the said parties of the first part of, in and to the ground and soil under water opposite and adjacent to said bulkhead;

Together with the appurtenances and all the estate and rights of the said parties of the first part in and to said premises;

-and

Whereas, by section 822 of the Greater New York Charter, as amended, the Commissioner of Docks of the said City is authorized to acquired by purchase in the name and for the benefit of The City of New York any and all wharf property or any rights, terms, easements and privileges pertaining to any wharf property in said City that is not owned by the City or to which it has no right or title, subject to the approval of the Commissioners of the Sinking Fund, the said owners to be paid the price agreed from the City treasury; and

Whereas, the said party of the second part is desirous of acquiring said wharf property heretofore described, together with all the rights, terms, easements and privileges appurtenant thereto, not now owned by The City of New York; and

Whereas, the said party of the first party has made known his willingness to sell and convey by good and sufficient deeds of conveyance the above described premises and rights appurtenant thereto to The City of New York for the sum of fourteen thousand dollars ($14,000);

Now, therefore, this agreement witnesseth:

That the party of the first part for and in consideration of the premises, and the sum of one dollar to him in hand paid by the said party of the second part, the receipt whereof is hereby acknowledged, hereby agrees to sell and convey by good and sufficient deeds of conveyance unto the said party of the second part the following described premises:

All that certain bulkhead situate, lying and being on the easterly line of Tompkins Street, in the Borough of Manhattan, City, County and State of New York, between East Houston Street and East Third Street, bounded and described as follows:

Beginning at a point on the easterly line of Tompkins Street where the same is intersected by the northerly line of East Houston Street, or continuation thereof, and running thence northerly along the easterly line of Tompkins Street to a point where the same is intersected by the southerly line of East Third Street, or continuation thereof, containing one hundred and sixteen (116) linear feet, more or less; and also all the estate, right, title and interest of the said parties of the first part of, in and to the wharfage rights, terms, easements, emoluments and privileges appurtenant to said bulkhead; and also all the estate, right, title and interest of the said parties of the first part of, in and to the lands in Tompkins Street between the projection of the said northerly line of East Houston Street and the southerly line of East Third Street; and all the estate. right, title and interest of the said parties of the first part of, in and to the ground and soil under water opposite and adjacent to said bulkhead;

Together with the appurtenances and all the estate and rights of the said parties of the first part in and to said premises;

-for the sum of fourteen thousand dollars ($14,000), lawful money of the United States of America, or by warrant on the City treasury for that amount.

It being stipulated by the party of the first part and is of the essence of this agreement that the said party of the first part is to convey, or cause to be conveyed, good title to the premises above described, with the rights to the lands under water and riparian, wharfage and other rights, if any, in front thereof and connected therewith not now owned by The City of New York nor by The People of the State of New York;

And the said party hereto of the second part hereby agrees to purchase the said property and rights appurtenant thereto and to pay said party of the first part therefor the said sum of fourteen thousand dollars ($14,000) on the day of

nineteen hundred and sixteen, subject, nevertheless, to the approval of the Commissioners of the Sinking Fund;

And it is further agreed that said deed or deeds shall be delivered and the consideration paid at the office of the Comptroller of The City of New York on the day of nineteen hundred and sixteen at twelve o'clock noon, and that the consideration may be paid in a warrant or warrants of the said Comptroller, drawn in favor of the party of the first part, and the said party of the first part on receiving such payment at the time and in the manner above mentioned shall at his own proper costs and expense, execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered to the said party of the second

part, a proper deed for the conveyance to it of all of said described premises and the wharfage rights, terms, easements, hereditaments and privileges appurtenant thereto, free and clear in all respects of all charges, liens and incumbrances of whatever kind, name or nature, except the second half of the taxes on said premises for 1916, which are assumed by the City; said deed also to contain a covenant against grantor's acts; And it is further mutually covenanted and agreed by and between the several parties hereto that this contract is made subject to the approval of the Commissioners of the Sinking Fund, and the said party of the second part hereby agrees to submit this contract to said Commissioners for approval, and to serve written notice of the action of the said Commissioners upon the party of the first part; and that unless said Commissioners shall approve the same, and the said party of the second part shall serve said notice as aforesaid, and unless the said party of the second part shall complete this contract, if approved, this contract shall at the option of the said party of the first part be utterly void.

In witness whereof the Commissioner of Docks has executed these presents for and on behalf of The City of New York and has caused the seal of the Department of Docks and Ferries to be hereunto affixed, attested and proved by its Secretary and the party of the first part has hereunto set his hand and seal and the parties hereto have executed this agreement in four parts, one of which is to remain with the party of the first part, one with the Commissioner of Docks, one with the Corporation Counsel and one with the Comptroller of The City of New York. MORRIS WEINSTEIN,

(Seal.)

R. A. C. SMITH, Commissioner of Docks.

Attest: FRANCIS J. RYAN, Assistant and Acting Secretary.

Approved as to form October 11, 1916: LOUIS H. HAHLO, Acting Corporation Counsel.

The City, County and State of New York, ss.:

On this fifth day of October, 1916, before me personally came Morris Weinstein. to me known and known to me to be the individual described in and who executed the above instrument, and he duly acknowledged to me that he executed the same. PIERRE M. CLEAR, Commissioner of Deeds, New York City.

The City, County and State of New York, ss.:

On this 17th day of October, 1916, before me personally came R. A. C. Smith, Commissioner of Docks, to me known, and known to me to be the person described in and who executed the foregoing instrument, and he duly acknowledged to me that he executed the same for the purposes therein mentioned.

TIMOTHY J. SLATTERY, Commissioner of Deeds, New York City; residing m Kings County; certificate filed in County Clerks of New York (No. 1240) Kings (No. 340), Bronx (No. 34), Queens (No. 1296), and Richmond Counties; Registers' Nos.: New York 17096, Bronx 7053, Kings 7070; commission expires May 10, 1917. The City, County and State of New York, ss.:

On this 17th day of October, 1916, before me personally appeared Francis J. Ryan, to me personally known, who being by me duly sworn, did depose and say that he resides in the Borough of Brooklyn, in The City of New York; that he is the Assistant and Acting Secretary of the Department of Docks and Ferries; that he knows the seal of the Department of Docks and Ferries; that the seal affixed to the foregoing instrument is the common seal of the said department; that it was so affixed by order of the Commissioner of Docks, and that he signed his name thereto by like order.

TIMOTHY J. SLATTERY, Commissioner of Deeds, New York City; residing in Kings County; certificate filed in County Clerks of New York (No. 1240) Kings (No, 340), Bronx (No. 34), Queens (No. 1296), and Richmond Counties; Registers' Nos.: New York 17096, Bron 7053, Kings 7070; commission expires May 10, 1917.

In connection therewith the Deputy and Acting Comptroller presented the following report and offered the following resolution:

To the Honorable the Commissioners of the Sinking Fund:

December 12, 1916.

Gentlemen-I am in receipt of a communication to the Commissioners of the Sinking Fund from the Commissioner of Docks and Ferries, transmitting an agreement in triplicate between Morris Weinstein and The City of New York for the sale and purchase of the bulkhead rights between East Houston Street and East Third Street, East River, Manhattan, for the sum of $14,000.

According to the terms of this agreement, Morris Weinstein agrees to convey to the City the bulkhead on the easterly line of Tompkins Street, Borough of Manhattan, between East Houston Street and First Street, and more particularly de

scribed in said agreement, together with the appurtenances and all the estate and rights he has therein. He agrees to convey good title to the above described property, and to pay whatever taxes and assessments have become liens against the same up to and including October 1, 1916.

This agreement is to my mind very advantageous to the City. The property comprises 116 feet of bulkhead, situated on the easterly side of East Street, extending from Houston Street to East Third Street, and is assessed for the year 1916 at $23,000, at the rate of $200 per lineal foot. Mr. Weinstein's offer of $14,000 places the values thereof at a trifle over $120 per lineal foot. The acceptance of this offer by the City presents an opportunity to acquire waterfront property on the East River at a figure lower than ever paid for similar property.

This property has been appraised by the Division of Real Estate of this Department at $20,300.

I, therefore, respectfully recommend that the Commissioners of the Sinking Fund approve of the agreement dated October 17, 1916, between Morris Weinstein and the Commissioner of Docks and Ferries, and that the Corporation Counsel be directed to prepare the necessary papers to carry the same into effect.

Respectfully, ALBERT E. HADLOCK, Deputy and Acting Comptroller. Resolved, That pursuant to the provisions of Section 822 of the Greater New York Charter as amended, the Commissioners of the Sinking Fund hereby approve of the agreement dated the 17th day of October, 1916, between Morris Weinstein of No. 1621 Madison Avenue, Borough of Manhattan, New York, and the City of New York, acting by the Commissioner of Docks, for the sale to the City of the bulkhead rights between East Houston Street and East Third Streets, East River, Borough of Manhattan, for the sum of Fourteen thousand dollars ($14,000); and be it further

Resolved, That the Corporation Counsel be and is hereby requested to prepare the necessary papers to carry the same into effect.

The report was accepted and the resolution adopted, all the members present voting in the affirmative.

Application of John J. Reid, Jr., M. D., for a Pass on the Staten Island Ferry. The Deputy and Acting Comptroller brought up the matter of the application of John J. Reid, Jr., Attending Physician of St. Joseph's Hospital by the Sea, Huguenot, S. I., who resides in the Borough of Manhattan, for free transportation for himself with automobile over the Staten Island Ferry while going to and from the hospital.

This matter was on the calendar of the last meeting and laid over. In the meantime the Commissioner of Docks was to confer with the Commissioner of the Department of Charities in regard to the matter.

The Deputy Commissioner of Docks appeared before the Board and requested that the matter again be laid over, as the department had not as yet heard from the Commissioner of Charities.

Laid over.

Court of Special Sessions-Assignment to, of a Room in the Criminal Courts Building.

The Deputy and Acting Comptroller brought up the matter of the proposed assignment to the Court of Special Sessions of the last room in the present Magistrates' Court quarters on the Franklin Street side of the Criminal Courts Building, Borough of Manhattan, which was on the calendar of the last meeting and laid over. Which was again laid over.

Sale and Removal of Encroachments Lying Within the Lines of 54th St. from 18th Ave. to 19th Ave., Borough of Brooklyn. The Deputy and Acting Comptroller presented the following report and offered the following resolution: December 11, 1916.

To the Honorable the Commissioners of the Sinking Fund:

Gentlemen-A request has been received from the President of the Borough of Brooklyn for the removal of the encroachments lying within the lines of 54th Street, from 18th Avenue to 19th Avenue, in the Borough of Brooklyn, to permit the improvement of the street.

These encroachments consist of buildings and other improvements, some of which are only partly taken in this proceeding, and their estimated removal value apportioned by damage parcels is as follows: Damage Parcel No. 77, $5, No. 79, $5, making a total of $10, which amount should be realized by their sale.

I therefore request that the Commissioners of the Sinking Fund, pursuant to the authority vested in them by sections 205 and 1553 of the Revised Charter, adopt