The Comptroller presented the following report relative to bonds sold January 30, 1901. To the Commissioners of the Sinking Fund: FEBRUARY 6, 1901. GENTLEMEN-Sealed proposals were received by the Comptroller, at his office, on January 30, 1901, after due advertisement, in pursuance of law, for $3,125,000 of three per cent. Registered Corporate Stock of The City of New York (as hereinafter more particularly described), exempt from taxation," principal and interest payable in gold coin of the United States of America, of the present standard of weight and fineness. The above-described stock is free and exempt from all taxation in the State of New York, except for State purposes, pursuant to the provisions of section 169 of chapter 378 of the Laws of 1897. The principal of and interest on said stock are payable in gold coin of the United States of America of the present standard of weight and fineness, pursuant to a resolution of the Commissioners of the Sinking Fund, adopted June 9, 1898. The Comptroller presented the following report and resolution relative to the redemption of $6,219,000 Corporate Stock, maturing in 1901: CITY OF NEW YORK-DEPARTMENT OF FINANCE, To the Commissioners of the Sinking Fund: COMPTROLLER'S OFFICE, February 13, 1901. GENTLEMEN Certain Bonds and Stock issued by The City of New York, as constituted prior to January 1, 1898, which are payable from the Sinking Fund for the Redemption of the City Debt (No. 1), mature during the current year, and others may, under the terms of their issue, be redeemed this year, as shown in the following statement : Payable from the Sinking Fund for the Redemption of the City Debt (No. 1), under the provisions of section 213 of chapter 378 of the Laws of 1897. Six per cent. Gold Consolidated Stock of The City of New York,) Six per cent. Gold Consolidated Stock, Dock Bonds, issued in pur-) Seven per cent. City Parks Improvement Fund Stock, issued in pur- I present herewith a resolution providing for the redemption of such of said bonds and stock as are held by the public, and for the cancellation of those that are held by the Commissioners of the Sinking Fund for the account of the Sinking Fund for the Redemption of the City Debt (No. 1). Respectfully, BIRD S. COLER, Comptroller. Whereas, the following described bonds and stock issued by The City of New York, as constituted prior to January 1, 1898, mature or are redeemable during the year 1901, and are payable from the Sinking Fund for the Redemption of the City Debt (No. 1), viz. : Payable from the Sinking Fund for the Redemption of the City Debt (No. 1), under the provisions of section 213 of chapter 378 of the Laws of 1897. Six per cent. Gold Consolidated Stock of the City of New York, issued in pursuance of chapter 322 of the Laws of 1871, payable July 1, 1901..... Six per cent. Gold Consolidated Stock, Dock Bonds, issued in pursuance of chapter 322 and section 6 of chapter 574 of the Laws of 1871, payable July 1, 1901. .... Seven per cent. Dock Bonds, issued in pursuance of section 42 of chapter 383 of the Laws of 187, payable November 1, 1901.... Six per cent. City Parks Improvement Fund Stock, issued in pursuance of chapters 290 and 322 of the Laws of 1871, payable December 23, 1901..... Seven per cent. City Parks Improvement Fund Stock, issued in pursuance of chapters 290 and 322 of the Laws of 1871, payable December 23, 1901 Fayable from the Sinking Fund for the Redemption of the City Deb (No. 1), under the provisions of section 279 of chapter 378 of the Laws of 1897. Three per cent. Criminal Court-house Bonds, issued in pursuance of section 8 of chapter 371 of the Laws of 1887, redeemable on or after November 1, 1901, and payable November 1, 1908............. Totals.. Resolved, That the Comptroller be and is hereby authorized to pay from the Sinking Fund for the Redemption of the City Debt (No. 1) the sum of six million two hundred and nineteen thousand dollars ($6,219,000), for the redemption at maturity of that portion of the hereinbefore described bonds and stock that is held by the public, and to cancel that portion of said bonds and stock, amounting to one million six hundred and seventy-one thousand five hundred dollars ($1,671,500), that is held by the Sinking Fund for the Redemption of the City Debt (No. 1). The report was accepted and the resolution unanimously adopted. The Comptroller presented the following report and accompanying resolution relative to the redemption of six per cent. Gold Consolidated Stock of the County of New York, maturing July I, 1901. To the Commissioners of the Sinking Fund: FEBRUARY 15, 1901. Gentlemen—Six per cent. Gold Consolidated Stock, amounting to eight million eight hundred and eighty-five thousand five hundred dollars ($8,885,500) which was issued by the County of New York prior to its consolidation with the former City of New York, matures on July 1, 1901. The said stock is all held by the public and is payable from the Sinking Fund for the Re demption of the City Debt (No. 1), under the provisions of section 213 of chapter 378 of the Laws of 1897. Under an amendment to the Constitution of the State of New York, adopted at the General Election held in the year 1899, the said stock is exempted for the debt-restrictive purposes of section 10 of article VIII. of the Constitution, from classification as a City debt. In view of the present heavy demands upon the City's debt-incurring capacity, especially for rapid transit and bridge construction, it is desirable to retain the advantage gained by such exemption. This advantage would be practically lost as to the amount of said stock if it were to be redeemed out of the Sinking Fund, or if it were refunded by the issue of Corporate Stock of The City of New York. I therefore propose to extend the maturity of a considerable proportion, if not the whole of such stock, for periods not exceeding twenty years, under the authority conferred upon me by chapter 630 of the Laws of 1900, upon the best obtainable terms for the City. It is not unlikely, however, that it may prove impossible to extend certain portions of said stock upon advantageous terms, and I therefore recommend that a resolution be adopted authorizing the Comptroller to redeem from the Sinking Fund such portions of said stock. Respectfully, BIRD S. COLER, Comptroller. Whereas, Six per cent. gold consolidated stock, issued by the County of New York prior to its consolidation with the former City of New York, amounting to eight million eight hundred and eighty-five thousand five hundred dollars ($8,885,500), matures July 1, 1901, and is payable |