Evening star. [volume] (Washington, D.C.) 1854-1972, 1889-01-31

The school site inquiry was continued by Mr.
Taulbee's committee this morning In addi-
ton to those Immediately interested in the in
vestigation, number of well-known real estate
dealers were present.
MR.. THos. Z. wAGGAMAN TEsTIFIEs
MIR. Thos. Z. Waggaman, the real estate
dealer, was the first witness examined. He
said he was only tolerably" acquainted with
the prices of real estate property in the Dis
.trict. He did not know that he was as well
acquainted with prices as some other dealers
He had been engaged extensively in business
and kept the run of the prices pretty WELL
Mr.. Taulbee then submitted to the witness a
list of the purchases of real estate made by the
District Commissioners. He said he sold one
of these sites himself-the one on North Capi-
toll street between X and L streets--to Luttrell,
Wilmer and Johnson. This site. according to
the list. was sold by Luttrell, Wilmer and John
son to the Commissioners, April &C. 1887, for
IS cents foot Mr.. Wagganlan said he sold it
to them six months or a year before and got.
he thought, between As and 80 cents a foot
He did not believe the purchasers then had
any idea of selling the property for a school
site. He thought they got from the District
only fair price for it. Mr.. Taulbee asked il
the witness would have been willing to have
paid so much for il.
NO" said the witness.
'Why not?" asked Mr.. Taulbee
GREAT DEAL OF DIFFERENCE
There is a great deal of difference" said the
witness, between me and public school"
Mr.. waggaman, BEING requested to explain
further, said that if he were buying for himself
he would want to buy for Is or 20 per cent less.
at a speculative price, 50 that he could sell at
profit. But if a property was bought for per-
manent purpose, or to put to some productive
use, he could and would pay more for it, or adj
wise one OF his customers to pay more.
IF one of your customers wanted piece of
property for immediate use would you not ad-
wise him to get it at speculative prices?" asked
Mr.. Taulbee.
'0h, if he could. certainly" said Mr.. wagga-
Mr.. Waggaman was asked to 90 over the list
OF purchases and prices paid by the Commits
sioners, and give his opinion as to their rea-
sonableness.
Mr.. Waggaman said it was hard thing for a
real estate broker to look over such list with
out personal examination of the property, or
going over his books. 1t struck him. however.
that the prices paid were generally fair.
DON'T SEE ANY JOB
"You don't see any Job in it anywhere?'
asked Mr.. Baker.
II don't see any, sir. That is my opinion, 60
ing over the list in moment as have"
when dshcu II ne WOui0 consider the prices
paid fair for all purposes or for any purpose
MIR. Waggaman explained at some length the
considerations which he thought should be
taken into account in judging prices He had
he said, never been fortunate enough to buy a
school site, but he had negotiated property fol-
hculty OF securing property at fair prices in
such cases. which he thought analogous to the
purchase Of a school site
I'm buying property for a railroad are you
not confined to one single piece Of property?
asked Mr.. Taulbee
Yes, sir, said the witness.
You cannot go to the other side Of the
| square?"
No, sir"
The witness said he understood the Commits
sloners usually desired to have some specia
| location, and could not with convenience In
the schools. go far from certain point.
Mr.. Taulbee asked if he considered these
prices higher than would prevail in ordinary
transactions.
PRICES HIGHER THAN THE AVERAGE.
Il think, said the witness, 'the prices prob
ably are little higher than thelaverage-s
little higher than the ordinary run"
! How much higher" asked Mr.. Taulbee.
81 could hardly give an average, !" said the
\ witness.
oh. just give it in general way" said Mr..
Maybe 10 per cent, maybe Is, y said the wit
| ness.
| Mr.. Waggaman said he bought the propert,
he mentioned as having sold himself. He dix
not think the prices were too high, when 4
was considered that the Commissioners had Il
pay higher prices than others would have Il
| pay.
MIR. Tauibee asked if a person not known Il
be acting for the Commissioners made the mr.
chase what reason there would be for narins
prices higher than ordinary.
|
except, perhaps, that the purchaser had to tax,
a large lot and perhaps had to deal with two O.
| three owners
MIR. Waggaman, when asked what vas Iii,
effect OF erecting q schooi-house or a police
station in neighborhood, said: 1T amt quit,
as bad Is . IRE, may be-"
Mr.. Waggaman said, in answer 10 questio,
by Mr.. Baker, that he thought the Commission
ers had been tudicious and Discreet in prices.
MR. srKLLwAoKH's TESTIMONY.
Mr.. z. J. sselwsgen, Of the firm Of Thoma