The Merchants' Association of New York presents herewith the report of the investigation of the Water Supply of New York City, made by its Special Committee on Water Supply.

In spite of the fact that all the members of the committee, both professional and business men, have devoted months of labor to this work without any compensation whatever, the cost of this investigation has been over $33,000.00, while the contributions toward defraying these expenses have been $11,212.00, leaving a deficit of over $21,788.00. The money necessary to complete the work has been advanced individually, and we feel that the duty of raising the funds to repay this advancement justly devolves upon the property owners, taxpayers and citizens whose taxes would he