The Monitor., 1891-05-01
communication relating to.sJosiah's'
SeraUS.

MIR. EpIToR:-Iu your issue oflast week
we nctice paragraph in losiah's scraps as
you are pleas 10 label iht n, in regard 10
v hat lie calls the phenomenal iIcrsase in
the value Of properly in The central part Of
our town and cites tile sale of the lot TO
the bank, aud the reported (s) recent sale
Of the hotel. AS tie bank has possession
OF th,i property theirs is doubtisss bon
aide purchase, but as To the sale of ihe
hotel, there may be people VINO give lie
report credit, but have not yet come in
contact with them. Tie value OF property
| is the matter We wish - consider and that
We " i'll proceed 10 do as we see it.
When the sale of the cgrner lot to the
Bank was fist talked OF it ~ss thought
the price asked or demanded for il. 81 500,
vas next to an outrage, indeed | heard the
owner more than once While the sale was
under consideration last summer say that it
vas all of two piiees for the lot, but let's
consider whether it was not cheap enough
to the Bank and il they didn't think SO
when they were dealing for il. They want
to build good substantial structure TO be
used as bank for all timt-nOt tor ten
years or score of years or for q century,
bnt as long as time lasts, and the first
consideration was to get a good central
| location. As all other corners in the Gen.
tire of the town were in such shape that
they could not buy or use to adyant-
| age this was the only one presented
| that appeared to fully meet their
wants. 1t is, as we all know, difficult
matter to buy aEy article cheap which the
owner would rather keep than sell. So it
was with this let, but as it appeared to
suit the bank they were willing TO give a
| good price for it, because It was worth it
/ to them, and while they would rather have
bought the lot for 81 SEQ if it could have
been obtained for that money, | very
much doubt their parting with it Tor SIG, GOO
! if that were Offered them now. 1t is just
what they want aud just where they want
| il, if popular opinion is any guide. Loca-
tion TO them is mater of great consider
alton. The same sized Let situated 20C
yards from the business centre would
scarcely be regarded cheap, for their use,
at gift, as compared with this location,
Ii il hardly fair TO quote this sale aud this
price as evidence OF the value of land in
the centre of the town. There looks to be
| twice as much front left ON the Ford prop
erty as what the bank bought of it. but
we do not believe the owner could get Sc
much for the entire balance of the front as
he realized for this corner lot, which, pos
sibly. may not represent more than one
quarter OF the entire frontage.
AS to the hotel property, if sec, 600 was
ever offered for it. 1t looks like big price,
and would, possibly. be considered double
its value if it were stripped OF the privilege
it has Of selling rum.s Josiah says The
hotel was bought by the present owner 9
few years ago for about $1,000, aud /
is here he asks how we account
for this phenomenal increase iu the value
of property in the business centre
Are we to conclude that the Increase in it
, value is based on its increase in business
Aud considering the nature and charactel
Of this calling ard The families that maj
have been obliged TO contribute 10 in
creasing its value by the earnings OF 10
father, husband, son or brother, the sighs
i, tears, heauburning and lteartaching OF IN
wife, mother, sister or Guild, the suffice
is too saddsnipg for Us to consider. Bu
in conclusion are free to say that we wonl'
J rather not cwn any property in which tn
. | value had been increased az any such cost