The Sunday tatler and Jersey City express. (Jersey City, N.J.) 1883-1886, 1885-09-20
PREGNANT COMPARISONS.
The Central Railroad Witnesses Corroborate
the States Case in the Tax Suits.


The Central Railroad Witnesses Confederate
the States Case In the Tax Suits.
A careful cleaning of the volumes of tes-
timony taken in the Central Railroads GER
tiorari suit against the State Board of AS
SCISSORS and others. which the TATTLER has
made during the week just past, develops
most inconsistent state of affairs, so far
as the case of the Railroad Company is
concerned. A comparison of the testimony
of expert Harrison, upon whose testimony
is practically based the States case, with
the testimony of Engineer Clarke, of the
Central Railroad, and also with the testi-
mony contained in the tabulated statements
offered by the Railroad Company, in which
are set forth their values of land based
upon the assessed value of adjacent land,
show a state of affairs that cannot very
readily be reconciled. Mr.. Harrison's esti-
mate of the value of the main stem in lid
son County (not including the terminal
east of Jersey ayenue) is $574, 1928 40,
which, being multiplied by three-the null
tiple which was used by the State Board Of
| Assessors in determining the true value of
the main stem-would show total value
of the main stem in Hudson County of
81, 724, 485 90 Mr.. Clarke testified that the
prime cost of the right of way in Hudson
County (also excluding the terminal lands
east of Jersey avenue) was $14S, i46 65 He
also stated, on cross-examination, in answer
to a question put by Judge Hoffman,
whether. in his opinion, the Central could
be paralleled to-day for ten times his esti-
mate OF it's prime cost:
eff your question refers to the building
or new road close along by the present
location of the Central Railroad, as lands
are now, and with the Central Railroad
there, and with all the advantages it has
brought on its road, should think not.
Thus, taking Mr.. Clarke's own testimony,
it would appear that the value of the main
stem in Hudson County to-day is at least
81, 481, 466 50-somewha under MIR. Harri-
sons figures, to be sure. But, in taking
Mr.. Clarkes figures, it must be remembered
that the prime cost is estimated upon the
average price per acre of immense tracts of
land from which the right of way was cut.
In fact, these large tracts were wholly pur-
chased for little more than hundred-foot
strip could have been purchased for the
purpose of roadbed. The Central's char
ter does not allow the Company to deal in
real estate hence it was that most of its
outside property was turned over to the
Central New Jersey Land and Improve
ment Company, which is creature of the
Centrals. 1t must also be remembered
that Mr.. Clarke's figures represent the
prime cost of the road through Hudson
County in 1868. The value of the main
stem in Hudson County, as shown in the
testimony of Mr.. George Holmes, the land
expert of the Railroad Company, based
upon the local assessors value of adjoining
lands, is $20O,052. 3d. Notwithstanding the
fact that the year 1868 was period of in
fated values, it would seem rather strange
that, considering the enormous growth of
Hudson County during the past twenty
years = than which, according to Mr..
UlarAe's testimony no other portion of the
State of New Jersey has grown more rap
idly--the value of land should have in
creased only in the proportion of 148 to
200 Mr.. Harrisons estimate in his testi-
mony is that the value of land in Jersey
City since 1868 has increased 1904 per cent,
while in Bay onne the increase has been
1879 per cent. In Union County the figures
are still more astonishing. Mr.. Harrison's
estimate of the value Of the main stem in
that county is 1872, 433 so. This. multi
piled by three, would make the total value
turned by the State Board of Assessors,
81, 1877, 301 40. Mr.. Clarke, in his testimony,
states that the prime cost of the right of
way in Union County, which was acquired
partly in 1912 and partly about 1868, was
$3.50. $685.. Multiply this estimate of the
prime cost by ten, and we have Mr.. Olarke's
estimate of the value of the main stem in
Union County of 50, 1896, 558 10, or about
half million more than the yal1e as
placed upon it by the State Board of Asses
sors, after its value, based on the value of
adjacent lands, has been multiplied by
three. The Railroad Company, in the tes
timony of Mr.. George Holmes, their expert,
estimate the value of their main stem in
Union County, based upon the local asses
sols' value of adjoining lands, at $14S, 391. SO,
whereas Mr.. Clarke has testified that in the
period between 1912 and 1868 the cost of
this very section of the road was $685..
655 81 From the foregoing figures it would
appear that land in Union County has de-
preciated il value since l842 about % per
cent. The extravaganza of this statement
is apparent on its face.
In this county, too, Mr. Clarke has estl-
mated the cost of the land on the average
price of large tracts from which the road
bed was taken The figures in the other
cOuutleS are gwen IN DrleL, Dub speak IOI
themselves. In Middlesex, Harrisons esti-
mate of the value of the main stem is
$28, 359 90 Clarke's estimate of the
prime cost is $25. 617.13 The Compa-
ny's estimate of the value, based on the
10 ,al assessed value of adjacent land, is
81, 3e7.52.
Somerset County = Harrison's figures,
$50,3167 rs; Clarke's estimate of prin 9
cost, $e9,139.72 Clarke's estimate Of
value to-day, 1891, 39950 ; Company 8
estimate, based on local assessors values,
$19,170.2S.
Hunterdon County-Harrison's figures.
$43,8l3,62 CIarkes estimate of prime
cost, $50, l0257 Clarke's estimate of
value to-day, S5Sl,Q25.70; Company's es-
m ate, based on local assessed yalne of ada
cent land, SIT, 1898 IS.
Warren County -Harrison's figures, Sill,
| O32 60; Clarkes estimate of prime cost,
| SIS, 84772; Clarke's estimate of value
to-day, S51S, AT. 20; Company's estimate
of value, based on local assessed value OF
adjacent land, S., 4Q8 IS.
The taking Of testimony in the case will
begin again in earnest this week, Just how
long it will be before the case is ready for
argument is difficult to state, but it is
probable that the Court will, early in its
session, set down day for argument some
time in December.
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