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Wealth Of New York

Wealth Of New York image
Parent Issue
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Tbe New York correspondent of the Bostin Post says : Evory year New York adds írom seventy.five to a hundred uiillion to its bank account. It can now claim to be worth, according to the official account, ovur 8l,0o0.O00,000 The real eslato valuation for 1870 is 8742,000,000, and the persona] estáte is 8'230,0O0,00ö. There is besjes, in the official table, an item of 75 000,000 nel. down to shurelioldurs in banks which brings tbo oggregate wealth of tbe city eoDsidrab!y above a thousand millions.But it is riiully much ranre thim tho of&eial figures show. The basis of real estáte tuxation is that lixed by tho Tax (Jomniispioner, and this is far below the markei basis. The nctual vake of ihe house and lot propertj on Manhattaa Island, accordïng to the present peiling priccB, is not less thiin 1,600,000,000 The personal ostato athounts to a great dea) more- thirty per cent, at least than the owners ever eoufess. The official return of bank property inay be all right, but the return of reul and peronal est ates ace ccrtainly much belo the mark. Tliu whole valuc of propertj in New York Ciiy ie probably uot loss tban 1,800 000,000. Tho aerease last jear was L83,000,000, whicb was less thaa the increaso the year before.


Old News
Michigan Argus