the Interest Accruing and to Accrue Upon the Stocks of The City of New York until the same shall be fully and finally redeemed, namely:

1. For interest on all bonds and mortgages owned by the corporation.

2. For commutation of alien passengers.

3. For mayoralty fees.

4. For fines and penalties.

5. For fees and fines collected by the clerks of the courts, for the corporation.

6. For rents from all sources not already pledged.

7. For tavern and excise licenses.

8. For sales of all property of the corporation other than real estate.

9. Such portion of the annual taxes levied in the water district of The City of New York as may be collected to supply the deficiency of interest accruing on the water stocks of The City of New York.

10. Nothing in this chapter shall be so construed as to impair or affect any pledge heretofore made and now existing of any property or its proceeds embraced in this chapter or in the ordinances relating to the city debt. (Id., sec. 66.)

§ 55. The Mayor, Comptroller, Chamberlain, President of the Board of Aldermen and the Chairman of the Finance Committee of the Board of Aldermen for the time being shall constitute and be denominated the Board of Commissioners of the Sinking Fund of The City of New York. (Id., sec. 67, with verbal changes.)

§ 56. Any four or more of the persons named in the preceding section of this article, of whom the Comptroller shall be one, shall be and are hereby authorized to discharge the trusts and duties vested in them by this article. (Id., sec. 68.)

§ 57. All purchases to be made of the city stocks shall be made by or under the direction of the Board of Commissioners of the Sinking Fund, as herein and hereby constituted. (Id., sec. 69, with verbal changes.)

§ 58. The said board shall, from time to time, invest the moneys which shall constitute the Sinking Fund for the Redemption of the City Debt, or as much as they can, in the purchase of stocks created by the corporation of The City of New York, at the market price, not exceeding the par value thereof; and if, at any time, such investments cannot be made at par, then the said board shall be authorized to invest the said moneys, or such part thereof as they may see fit, either in the purchase of the said stock or the stock of the State of New York, or the stock or bonds of the United States, notwithstanding such stock or bonds may be above the par value thereof. (Id., sec. 70, with verbal changes.)

§ 59. The powers conferred on the said Board of Commissioners in the preceding section of this article shall be so

construed as to render it imperative on the said board, at all times to give preference to the purchase of city stock, if the same can be procured at a reasonable rate. (Id., sec. 71, with verbal changes.

§ 60. Whenever the said Board of Commissioners shall have invested any part of the said fund in the purchase of the stocks of this State or of the United States, and shall at any time thereafter be enabled to purchase any of the city stocks at such prices as they may judge best for the public interest, they shall forthwith sell and dispose of the same and invest the said stocks of the State or of the United States, or the net proceeds thereof, in the city stock, if, in their opinion, such disposition would be beneficial to the public interest. (Id., sec. 72, with verbal changes.)

§ 61. Whenever the said Board of Commissioners shall have invested any part of the said fund in the purchase of city stock, and shall at any time thereafter be enabled to purchase any of the city stock, which shall be by its terms redeemable at an earlier day, they may forthwith sell the same and invest the net proceeds in such other city stock, if in their opinion such exchange shall be desirable and beneficial to the public interests. (Id., sec. 73, with verbal changes.)

§ 62. Whenever any of the moneys constituting the sinking fund for the redemption of the city debt shall be required for any such purchases or investments as are in this chapter before mentioned, or for the redemption of any of the city stocks at their maturity, the amount of money respectively required shall be paid from the treasury, by warrant, signed by the said Board of Commissioners, or any four of them, the Comptroller being one. (Id., sec. 74, with verbal changes.)

§ 63. All stocks and sureties which shall be purchased by the said Board of Commissioners shall be transferred to the said commissioners, and all transfers thereof, when disposed of pursuant to the provisions of this article, shall be made by the said commissioners, or any four of them, of whom the Comptroller shall be one. (Id., sec. 75, with verbal changes.)

§ 64. The city stock which shall be purchased by the Board of Commissioners shall not be canceled by them until the final redemption of the said stock, and all interest accruing thereon shall regularly be carried to the said sinking fund for the redemption of the city debt. (Id., sec. 76, with verbal changes.)

§ 65. The revenues herein assigned for the redemption of the city debt shall be kept distinct from all other revenues belonging to the said Board of Commissioners. (Id., sec. 77, with verbal changes.)

§ 66. All moneys constituting the fund for the payment of the interest on the city debt, whenever required to meet

such interest, shall be drawn from the treasury in the same manner prescribed above. (Id., sec. 78.)

§ 67. Nothing in this ordinance shall be so construed as to prevent the said Board of Commissioners from temporarily investing the unemployed moneys belonging to the sinking fund in the temporary bonds of the corporation. (Id., sec. 79, with verbal changes.)

§ 68. It shall be the duty of the Comptroller to keep a correct journal of the proceedings of the said Board of Commissioners, to be verified by any four of them, himself being one; and once in each year, or oftener if required, to render unto the Board of Aldermen a full and detailed report of the proceedings of the said Board of Commissioners. (Id., sec. 80, with verbal changes.)

§ 69. The said report shall specify the disbursements, purchases, exchanges and sales made by the said Board of Commissioners; the prices at which and the parties from whom such purchases, with whom such exchanges, and to whom such sales shall have been made; the amounts and descriptions of the stocks of this city purchased by the said board; the amounts and descriptions of the stocks of this State and of the United States then held by them; the amounts paid for interest on the city stocks, with a detailed statement of the receipts and the unemployed moneys in the city treasury to the credit of each division of the sinking fund. (Id., sec. 81, with verbal changes.)

§ 70. The terms "City Debt" and "City Stock" used in this article shall be construed to mean any stock or fund created by the corporation of The City of New York. (Id., sec. 82.)

§ 71. The Board of Commissioners of "the Sinking Fund of The City of New York for the Redemption of the City Debt" are hereby authorized, as provided by the Greater New York Charter, by concurrent resolution, to direct that the bonds and stocks of The City of New York, hereafter issued, pursuant to law, shall be exempt from taxation by said city, and by the county of New York, but not from taxation for State purposes, and all bonds and stocks issued pursuant to such authority shall be exempt from taxation accordingly, provided that said bonds and stocks shall not bear interest exceeding the rate of four per cent. per annum. (Id., sec. 83, as amended.)

Article IV.- Sale of Real Estate Belonging to the Sinking Fund.

§ 72. The Board of Commissioners of the Sinking Fund are hereby authorized to sell and dispose of all real estate belonging to the corporation and not in use for or reserved for public purposes at public auction or by sealed bids, at such times and on such terms as they may deem most advantageous for the public interest, in conformity with the provisions of the statute in this article before referred to; provided, however, that no property shall be disposed

of for a smaller sum than that affixed to the description of said property under this article, and at least thirty days' previous notice of the time and place of such sale, including a description of the property to be sold, be published in the City Record. (Id., sec. 97, with verbal changes.)

§ 73. Real estate under lease, without covenants of renewal, shall not be sold for a less sum than the same may be appraised at by the Board of Commissioners of the Sinking Fund, or a majority of them, at a meeting to be held and on an appraisement made within one month prior to the date of the sale. (Id., sec. 98, with verbal changes.)

§ 74. Real estate under lease, with covenant of renewal, shall not be sold for a less sum than an amount equal to a commutation on the present rents reserved, calculated at six per cent. (Id., sec. 99.)

§ 75. Real estate not embraced in the last two preceding sections shall not be sold for a less sum than the same may be so appraised at. (Id., sec. 100.)

§ 76. Whenever any real estate shall have been sold pursuant to the preceding sections of this article, it shall be the duty of the Board of Commissioners of the Sinking Fund, or a majority of them, to give a certificate, under their hands, that the same has been sold pursuant to the provisions of this article, and upon the production of such certificate and the evidence that the proceeds of such sale have been paid into the treasury to the credit of the sinking fund for the redemption of the city debt, it shall be the duty of the Mayor of the City and the Clerk of the Board of Aldermen to execute proper conveyances of such real estate under their hands and the seal of the city corporation. (Id., sec. 101, with verbal changes.)

Article V.- The Collector of Assessments and Arrears.

§ 77. There shall be paid to and collected by the Collector of Assessments and Arrears, for the benefit of the city treasury, on his furnishing a bill of arrears or making searches upon a requisition for searches on each lot or piece of property mentioned or referred to therein, in respect to Croton water rents, 50 cents; in respect to taxes, 50 cents; in respect to assessments, 50 cents; and for his certificate upon any such bill or search, when requested, 10 cents. (Id., sec. 39, with verbal changes.)

Article VI.- The Bureau of City Revenue and Markets.

§ 78. The Collector of City Revenue and the Superintendent of Markets is charged with the duty of superintending the public markets, the inspection, regulation and management thereof, and of the transferring and other regulation of the stalls and stands therein. (R. O. 1897, sec. 44, with verbal changes.)

This bureau is under the control of the Finance Department, sec. 151, Greater New York Charter. The City Ordinances of 1859 placed

the Bureau of Markets in the City Inspector's Department. That a municipal corporation has power to establish public markets is well settled. St. Johns v. Mayor, etc., of N. Y., 6 Duer, 315; People v. Lowber, 7 Abb. Pr. 158, 28 Barb. 65; Ketchum v. City of Buffalo, 14 N. Y. 356, aff. 21 Barb. 294. And municipal corporations have power to regulate established markets: Mayor, etc., of N. Y. v. Schultz, 31 How. Pr. 385; Barry v. Kennedy, 11 Abb. Pr., N. S., 421. As to power of Comptroller, see Lowenstein v. Myers, 49 N. Y. St. Rep. 807, and People ex rel. Westervelt v. Meyer, 5 N. Y. Supp. 69. An ordinance requiring butchers to have licenses sustained: City of Buffalo v. Hill, 79 App. Div. 402. The city cannot, however, grant permits to erect market stands in the public streets: Ely v. Campbell, 59 How. Pr. 333.

§ 79. The Comptroller may appoint proper persons to remove dirt and filth from the public markets, and to perform such other services about the public markets as are necessary to cleanse the same, at a specified compensation; and may, at any time, remove them, or appoint others in their stead. (Id., sec. 45.)

§ 80. No transfer or assignment of any stall or stand in any of the public markets shall be made without the written permission of the Comptroller, and such transfer shall be duly entered upon the register or list of stands, and notice of the transfer, when made, shall be given to the Comptroller. (Id., sec. 46.)

§ 81. The following places are hereby severally designated and declared to be the public markets of The City of New York, to wit: Clinton Market, Essex Market, Franklin Market, Fulton Market, Jefferson Market, Tompkins Market, Washington Market, West Washington Market, Gouverneur Slip and the Farmer's Market, bounded by Little Twelfth street, Gansevoort street, Washington street and West street and Tenth avenue. (Id., sec. 47.)

§ 82. So much of the lands as are bounded and described as follows, to wit: Parcel No. 1, bounded on the north by the southerly side of the approach to the Williamsburg bridge, on the east by the westerly side of Attorney street, on the south by the southerly clearance line of the Williamsburg bridge, and on the west by a line parallel with Attorney street, and distant 160 feet from the west side of Attorney street, said parcel being 160 feet in length by 31 feet 9 inches in width. Parcel No. 2, bounded on the north by the southerly side of the approach to the Williamsburg bridge, on the east by the westerly side of Ridge street, on the south by the southerly clearance line of Williamsburg bridge property, and on the west by the easterly side of Attorney street; said parcel being about 200 feet in length by 31 feet 9 inches in width; is hereby declared to be a temporary market place for hucksters and peddlers using pushcarts, pending the completion of the bridge, the Commissioner of Bridges to determine the date of said completion.

Said hucksters and peddlers are hereby authorized to stand in the said market place, as soon as the same shall ein proper condition, and there to exhibit their wares and