The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-06-26
UNION FxRhY AppRAIshmEnr CUT.
suaeo DAILY Lops or eS7r,SSe From the
Price 60 BE Paid For the Properly.

Judge Daily Lops OF eS7I,sgs From the
Price TO BE Paid For the Properly.
Chief Judge DAILY OF the Court OF Common
Pleas has decided that unless the Union Ferry
Company OF New York and Brooklyn consents
to n reduction Of S573.5,sy On the appraise-
ment OF lis property at SS.S03. 100 made on
Jan. 10. 1891, the appraisement must be sot
aside as excessive The company has twenty
days after the entry Of the decree to make its
decision
nj.
McClave. lumber merchant. and brother Of
Police pn, Commissioner McClave. as taxpayer.
secure the franchises for the five ferries Of
the company. and as n preliminary sten wanted
to reduce the appraisement OF the companys
PROPERTY which /, would have to purchase.
THIS arrraisement was alleged to be $1,000
wv t"o hish. AS the commissioners OF the
Sinking Fund.who had been made defendants.
.nsu,ar 10, 80 ~. .'ou ~. :, ~.
answer LOT reiei similar TO that demanded oy
McClave. he dropped out. and they prosecuted
the ease McClnyeand his soc,tes however
49,, -, -. 10
may my, nave ave .ne II u''s" .ne decision.
and Brooklyn, saws Judge Daily. were operated
80, ,vs. -. 40, w W., 80
pany Of Brooklyn. under successive leases
from the citv Of New YORK.. tI,e lnst. for 1.-Two
years. expiring ON May l. 1871. Ihe company
expired by the limitation OF its charter in
Noys.ub IS9D md IA nav cornor,tiop tbe
t,ut r.. r, A. " ~ -, ~, -,
Union ferry eompanyo OF New YORK aud BROOK.
lyn. was formed. 1t secured the property and
an assignment OF the lease OF the old com.
,,w ma, ~, , -,
rany Ihis last lease contained provision
that upon its term nation he city should cause
the commands pron.rtv n.c,ss,rv far ,bn omar
81, .,'s ' ~. ~
at,Ih o, tne irfrles 20 re purchased az ar APP
lore the termination 81 the lease. The city
Whs 20 huNertis. 'iie llahcnises Tor safe. ana
~ .u t niSr Wus ~ We reiutrn -
!!a INK, tne c.milnys nlopey as al'piased;
th ne ct nrahy was 70 name one api.rsisor ana
sm T SItV .he otn"i. ih.se hpl,ah ers nXeu inc
'a!uS VI tne blopertp al s'b.eot.Hoo,,
1,a ne nuniic ,ntrres's az STAKE. snys inc
Judge. are very greut. and the Commi ssioners
OF tne SINKING F4n,i were justified in the
SIoseSt ~ utiny OF inc r. scmtnt. lbon
lMScstigatun lliey DISC Vreu ti'al ~ tiie sworn
99lsls.a, reroIi o, mo n'u company IN me year
sS,i;2oaOIo: thus Il there then were added to
t thls sum me cost anu eIuirment loZ' o.nuO, %
ine IVY" ,er' Drats. 70, .hen colnp eted. hut
i would appear Tia. tue to,a proi erty Of tie
,e n "i immy. Il. me es'inate Rlarea vi On u
~ ~ itS owners mn nm 10 S!.oV .,o,m Wmiie
tnt APP a,senen' maze q year aite waio Was
o1.!gyOo,poM
-, IN urciulns nr on me lu.tness ana ,nirness
81 the appralsement u must ne oornt In mind
t tna. Inc iu'y ni ,nT appra sefs Was 10 ascer.
IAN tue pre- ent value OF the PROPERTY. As to
the 'uil !ings. ferry houses. racks. NC. they
we're TO inquire what u would east e replace
1hem ht me present time. Ent from me cost OF
new structures thus asrertained they were to
nat wear and tear. or, in other words; for
tne, 'liieien,e between new and Old AS to
real estate. they were t. asceltan the pre,e <
mars '"iue' BASED. II lossl.Ie. on actual