The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-05-31

two lots. This was the situation when the
matter came up before council, and though
ample notice wes given but a bare quorum
of aldermen were present. Alderman Mel
drims proposition FOR appraisers reaas
| beautifully, but who ever saw a land trade
or any other kind of trade where each
party was perfectly willing simply 10 ex-
change dollarsF
"Tne proposition TO trade came from the
/ city, and, in the unanimous opinion OF the
committee on water. the land TO he obtained
| by the city is for its purpose more valuable
than the land offered in exchange"
Alderman Cam said that no doubt an
| individual would be able to realize more
money on the city los than the city itself
could. He could sell 10 in lots on the Install
msnt plan, hut the city is not In the
real estate business and couldnt afford to
do anything Of the kind. The gully on the
city lot will have to be filled in before the
tract can be placed upon the mar.
ket, and it will take something like 5000
TO do this.
AN ADVANTAGE IN THE TRADE.
Another advantage to be gained by the
change Of location said Alderman Cam,
sis the saving In building the conduit TO
the river. The level of the canal &C the
original site is ten feet lower than it is
at the Sheftall tract. Had the water works
been built at the former place the conduit
would have to pass through the canal, pos
slbly interfering with its navigation, and
leaving the city liable 30 possible damages.
At the new location the bed OF
the canal IL 30 much
higher the conduit win pass under 1t out Of
all harms way. The distance 30 the river
is also shorter. Then again il the site Of the
works mad not BEEN changed considerable
more pressure would have to be used to get
water from the wells on Styles avenue,
s.k faAt L. q &C. Hha all Inf
works will be located almost alongside Of
these, wells and as a matter Of course less
pipe aad pressure will he necessary"
ALDERMAN MELDRIM's POSITION.
Alderman Meldrim. who opposed and
voted against the exchange OF sites. was
seen last night. he said he had not had time
tot figure out the relative values OF the two
tracts, but in his opinion piece OF prop
erty on q street like Gwinnett, which, Ia bis
opinion, is one of the finest streets in the
city Is much more valuable than q prop
erty located 1000 feet west.
81 don't deny,n said he, shat the nine
acre tract may be better adapted to the
city's purposes than the twelve-acre tract
is. but that doesn't prove its value. The
way to value property Is by the price It will
bring on the market. From my knowledge
Of real estate in Savannah the twelve acre
tract Is much more valuable, and In that
case the city, In my opinion, should get the
benefit of it.
''The location of the two tracts as regards
value may be summed up as IL one were
property on Bull street and the other one
on West Broad street. The question Of its
adaptabllity to certain purpose doesn't
prove value. IL a man owns a lot on Bull
street worth $50, 900, and wishes to go into
the naval stores business in TAFT
nall county, $4,000 tract Of
pn.A1 10
valuable to his purpose than the lot on Bull
street, but it would be poor piece Of bust.
ness tact for him to exchange the city prop
erty for that of the country and lose $40,-
600. He would most likely sell the Bull
street lot, buy the wooded lands Of Tattnall,
and pocket the difference.
PUTTING 1T IN FIGURES.
"This Ia my theory of the city's position.
II the 12~acre tract Is worth more on the
market than the 9-acre the city should get
the benefit Of it. From the information
received from Alderman Cam at the meet
ing OF council the city lot could be divided
into 100 lots of 30xl26 feet. These ought to
be worth at least $500 per lot. This would
make the value of the tract $24. 000-quite q
| neat sum. The option on the thirty lone
acres from which the nine are taken was
! $500 per acre. This would put the value of
the tract, If the figures were held at the
| same rate, something over S5,UOU.
The cutting Of streets through the tract
will only enhance its value. The city lot is
perfect square, and without streets would
be worth but little for development. The
streets are a necessity, and If the city didn't
cut them the owner would have TO do it to
enhance his property, and the moment he
would sell @. lot on one OF those streets 1t
would become dedicated to the city. The
widening OF Gwinnett street through the
tract is all right, but little advantage is to
be gained by the city from the other streets,
which will start at West Boundary
street and run only 900 feet. Practically
they begin nowhere and end nowhere"
"In my opinion" Alderman Meldrim
said, "the city is losing thousands of dollars
| by the trade. The water committee is an
unusually intelligent one, and 1 may be
| wrong, but, as said before, from what I
know of Savannah realty a mistake has
been made"