The New York herald., 1868-05-17
testing this matter but simply the question OF the
amount awarded to him. That was the important

testing this matter but simply the question OF the
amount awarded to him. That was the important
point
aidavits OF several experts In the valuation OF real
estate set forth their respective estimates OF the
value OF the property In question, varying from
$45OOO the lowest appraisement, to 500 900. There
was also an error In the method OF valuation by the
commissioners. This property was all front, and the
average valuation per superficial foot not greater
than in the case OF parties whose property had but
Ira Shafer opposed the confirmation on behalf OF
Messrs. Clark and Grove and Mr.. CampiOn. The
former contestants were the owners of an entire
b ock, bounded on the north by Sixty-sixth and on
the South by Sixty-filth street. Onya portion OF
this property was required for the proposed Boue-
ward, D9t tne commissioners nm had appropriated the
remainder also. The first assessment made by them
OF the valuation OF this land was $4,000; but upon
being made aware OF the error OF this appralse-
ment they increased 1t to 100000. The West
Side Association had estimated it to be at
least worth $100 0o0 and ten other competent judges
had set its value down at $4,000. The Commits
soners based their second estimate with reference
the fact that 1t would cost $4,000 blast certain
rocks on the property; but counsel had proof OF the
fact that blasting contractor, Of undoubted CON-
potency was willing to undertake the blasting OF the
rocks for $4,000. The Campion property was valued
by its owner at $4,000, and by competent buyers
and sellers OF real estate at sums varying from
$65,000 to $6S,000 while bank of this city, which
was prohibited from making oans OIL real estate
exceeding one-half OF the value OF such property,
had loaned the sum of $50, 900 upon it.
objections were interposed to the assessment of
property located at Sxtieth and Sxty-frst streets,
that the award was inadequate and insufficient.
Counsel stated that the property located at the
intersections Of leading thoroughfares and its value
was proportionately higher than as compared with
property not so situated. This property was located
between the "crce" and Sxteth street, and for the
piece of land taken for the opening of the 'crce''
the commission had allowed at the rate OF $4,000
per area OF single city lot, while in these lies
they had fixed 1t at a much lower figure. For the
whole block between SiXtieth and SiXty-frst streets
they had allowed $l2i 900, which was very made
quate compensation.
Robert Marsh, the owner OF number Of lots on
the northeast corner OF SiXty-fourth street and
Broadway, also objected to the assessment on his
property as insufficient and below the actual value.
There were on this property ten four story brick
houses all Of them rented in use and In good repair,
and from which he was deriving a daily income.
The contemplated improvement would take away
eight OF these houses and leave an irregular strip Of
land Of about eight feet at one end and about forty
feet at the other. This had been estimated by the
Commissioners at $S1, ,74S.
William Fullerton appeared as the associate OF the
Corporation Counsel, and after fully arguing In OPP
position all the points raised by the counse on the
Other side the court adjourned the further hearing
until the 3lst proximo.