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 Tuesday, March 29, 1904.

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

The minutes of the meeting held March 16, 1904, were approved as printed.

The Comptroller brought up for consideration the report of the Engineer of the Department of Finance, relative to the general preliminary plans submitted by the Commissioner of Docks for the ferry terminal facilities at St. George, Borough of Richmond.

President Cromwell and Mr. Edward Lauterbach appeared before the Board and requested a further postponement.

The President of the Board of Aldermen moved that the matter be postponed until Tuesday, April 12, 1904, with the understanding that final action on the question be then taken.

Carried.

The Comptroller presented the following report and offered the following resolution, relative to the lease of premises, 50 by 100, on West Fifty-second street, between Eleventh and Twelfth avenues, Borough of Manhattan, for the Department of Street Cleaning (see page 190):

Hon. EDWARD M. GROUT, Comptroller:

MARCH 17, 1904.

SIR-In a communication under date of March 8, 1904, the Commissioner of the Department of Street Cleaning requests that the Commissioners of the Sinking Fund

amend their resolution of February 29, 1904, so as to make the lessor, Gustavus W. Rader, individually, Jacob Blatt and John Foersch, as executors of the last will and testament of Michael Schmitt, deceased, instead of "Gustavus W. Rader," and to eliminate the description of the property now described as Nos. 606, 608, 610 and 612 West Fifty-second street, and to make the same read as follows:

Beginning at a point on the southerly side of West Fifty-second street, about 150 feet westerly from the southwest corner of Fifty-second street and Eleventh avenue; running thence southerly 50 feet; thence westerly and parallel with Fifty-second street 100 feet; thence northerly 50 feet to the southerly side of Fifty-second street; thence easterly along Fifty-second street 100 feet to the point or place of beginning.

I would respectfully recommend that the Commissioners of the Sinking Fund amend their resolution of February 29, 1904, in order to comply with the request of the Commissioner of the Department of Street Cleaning.

Respectfully submitted for approval,

Approved:

MORTIMER J. BROWN,

Appraiser of Real Estate in Charge of Bureau.

EDWARD M. GROUT, Comptroller.

Resolved, That the resolution adopted by this Board at meeting held February 29, 1904, approving of and consenting to the execution, by the Commissioner of Street Cleaning, of a lease to the City from Gustave W. Rader of the plot of ground 100 feet front by 50 feet deep, more or less, in Fifty-second street, west of Eleventh avenue, Borough of Manhattan, be and the same is hereby amended so as to read as follows:

"Resolved, That the Commissioners of the Sinking Fund hereby approve of and consent to the execution by the Commissioner of Street Cleaning of a lease to the City from Gustavus W. Rader, individually, Jacob Blatt and John Foersch, as executors of the last will and testament of Michael Schmitt, deceased, of the following described property in the Borough of Manhattan:

"Beginning at a point on the southerly side of West Fifty-second street, about 150 feet westerly from the southwest corner of Fifty-second street and Eleventh avenue; running thence southerly 50 feet; thence westerly and parallel with Fifty-second street 100 feet; thence northerly 50 feet to the southerly side of Fifty-second street; thence easterly along Fifty-second street 100 feet to the point or place of beginning,"

--for a term of three years from May 1, 1904, at an annual rental of thirteen hundred dollars ($1,300), payable quarterly, and Croton water tax; otherwise, upon the same terms and conditions as contained in the existing lease of the same premises-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.

The Comptroller presented the following report and offered the following resolution relative to the lease of premises No. 219 West Seventy-seventh street, Borough of Manhattan, for the Department of Street Cleaning (see page 192):

Hon. EDWARD M. GROUT, Comptroller:

MARCH 18, 1904.

SIR-In a communication under date of March 7, 1904, the Hon. John McGaw Woodbury, Commissioner of the Department of Street Cleaning, requests the renewal of the lease of stable No. 219 West Seventy-seventh street, Borough of Manhattan, at an annual rental of $3,000.

The Commissioners of the Sinking Fund adopted a resolution February 29, 1904, authorizing a renewal of this lease at a rental of $2.700 per annum, this being the present rental.

In a letter dated March 7, 1904, the lessor, through her attorney, Henry Lewis Morris, refused to accept $2,700 per annum, and asks $3,000 per annum.

The Commissioner of the Department of Street Cleaning wishes to renew the lease in order to avoid the expense of establishing another stable, which he estimates would be about $7,700, in addition to the rent.

I approve of the renewal of this lease at the rental of $3,000 per annum only upon the statement of the Commissioner of the Department of Street Cleaning in his communication under date of March 7, 1904. Assuming that his statement is correct, the establishing of a new stable in another locality would more than make the difference in rental value, as estimated by this Bureau, and as demanded by the owner.

I would therefore respectfully recommend that the Commissioners of the Sinking Fund adopt a resolution amending their resolution of February 29, 1904, in compliance with the request of the Commissioner of the Department of Street Cleaning. Respectfully submitted for approval,

Approved:

MORTIMER J. BROWN,

Appraiser of Real Estate in Charge of Bureau.

EDWARD M. GROUT, Comptroller.

Resolved, That the resolution adopted by this Board at meeting held February 29, 1904, authorizing a lease of premises No. 219 West Seventy-seventh street, Borough of Manhattan, for a term of five years, from May 1, 1904, at an annual rental of two thousand seven hundred dollars ($2,700), payable quarterly, for the Department of Street Cleaning, be and the same is hereby amended by substituting three thousand dollars ($3.000) as the rental in place of two thousand seven hundred dollars (2,700).

The report was accepted and the resolution unanimously adopted.

The following communication was received from the Board of Elections relative to the lease of premises at Nos. 305 and 307 East Sixty-first street, Borough of Manhattan (see page 1074):

NEW YORK, February 29, 1904.

Hon. GEORGE B. MCCLELLAN, Mayor, Chairman of Commissioners of the Sinking Fund, City of New York:

SIR-I herewith transmit to the Commissioners of the Sinking Fund for consideration and approval thereof the following preambles and resolution adopted by the Board of Elections of The City of New York, at a meeting held on the 24th instant, viz.:

Whereas, The Board of Commissioners of the Sinking Fund of The City of New York, by resolution adopted December 2, 1903, at and upon the request of the Board of Elections of The City of New York, authorized and directed the Comptroller of the City to execute a lease with and from A. B. Yetter, of the ninth floor of the premises Nos. 305 and 307 East Sixty-first street (known as The Globe Storage Warehouse) for a period of two years, from December 1, 1903, at the annual rental of one thousand five hundred dollars, payable monthly; and

Whereas, Said A. B. Yetter has declined to execute a lease for said premises for a period longer than one year from December 1, 1903, notwithstanding that the Board of Elections understood that he had assented to a lease for two years; and

Whereas, The said premises are and have been since December 1, 1903, necessary and in use for the storage of material and property of the City required in the conduct of public elections; therefore be it

Resolved, That the Board of Commissioners of the Sinking Fund be and hereby is requested to amend the resolution of said Board, adopted December 2, 1903, so as to read that a lease of said premises may be authorized for the period of one year from December 1, 1903, instead of two years, from said date, as heretofore requested and adopted.

Approved:

Respectfully yours,

JOHN R. VOORHIS, President.

MORTIMER J. BROWN,

Appraiser of Real Estate in Charge of Bureau.

In connection therewith the Comptroller offered the following resolutions:

Resolved, That so much of the resolution adopted by this Board at meeting held December 2, 1903, as relates to a renewal of the lease of the ninth floor of premises Nos. 305 and 307 East Sixty-first street, Borough of Manhattan, for the use of the Board of Elections (paragraph 4) be and the same is hereby rescinded.

Resolved, That the Comptroller be and is hereby authorized and directed to execute a renewal of the lease to the City from The Globe Storage and Carpet Cleaning Company, A. B. Yetter, President, of the ninth floor of premises Nos. 305 and 307 East Sixty-first street, Borough of Manhattan, for a period of one year from December 1, 1903, at a monthly rental of one hundred and twenty-five dollars ($125), and on 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.

Which were severally unanimously adopted.

The following communication was received from the trustees of the College of the City of New York, relative to the lease of premises Nos. 209 to 213 East Twentythird street, Borough of Manhattan (see page 205):

Hon. EDWARD M. GROUT, Comptroller:

NEW YORK, March 16, 1904.

MY DEAR SIR-The trustees of the College of the City of New York, by resolution adopted January 18, 1904, recommended a renewal of the lease of the premises Nos. 209 to 213 East Twenty-third street, Borough of Manhattan, used as an annex to the College of the City of New York, and requested the Commissioners of the Sinking Fund to authorize the Comptroller to execute said renewal upon the terms stated in the resolution. The original lease was made with the Cass Realty Company, but it appears that the property was sold by them to the Realty Securities Company and the title conveyed to said Realty Securities Company by deed duly recorded April 10, 1903, at 9 A. M., section 3, Liber 93, page 248, Block 904. This change of owners was unknown to us when the matter was recommended to the Commissioners of the Sinking Fund. It is therefore respectfully requested that the new lease be made in the name of the Realty Securities Company.

Very respectfully yours,

THEO. F. MILLER,

Chairman, Committee on Additional Accommodations, etc.

The request of the Chairman of the Committee on Additional Accommodations of the College of the City of New York to an amendment of a resolution of the Commissioners of the Sinking Fund, adopted on the 29th day of February, 1904, in the matter of the change of names of lessors, is hereby recommended and approved.

MORTIMER J. BROWN,

Appraiser of Real Estate in Charge of Bureau.

In connection therewith the Comptroller offered the following resolution:

Resolved, That the resolution adopted by this Board at meeting held February 29, 1904, authorizing a lease to the City from the trustees of the Cass Realty Corporation of the building known as Nos. 209 to 213 East Twenty-third street, Borough of Manhattan, for use as an annex to the College of the City of New York, be and the same is hereby amended by substituting "the Realty Securities Company" as the name of the lessor in place of "the Cass Realty Company."

Which was unanimously adopted.