The record-union., 1893-08-31

board had provided themselves with GER
tain data to govern them in their investi-
CATION. but such data was taken from the
records, which are open to everybody.
In reply to Mr.. Swan, Mr.. James said
the establishment of slaughter-houses at
Baden, Alameda County, had injured the
business in San FranciSco-in fact. had
ruined it, and this had also generally
affected all other business.
ASSESSOR sIEBE's DEFENSE.
After some general remarks by MEM
bers of the board, Mayor Ellert and Mr..
James. and their Chief Deputy Assessor
Hugo HerZer OF San Francisco was called.
Alter explaining that Mr.. Siebe was de-
tanned by sickness in his family, Mr..
Herzer read prepared statement by the
Assessor, in which it was held that prop
erty values in San Francisco had been
fairly assessed, and it was asked that the
State Board deal Justly with that city.
The falling off in this years assessment
Of some S548,0 600 had been more than off
set by the withdrawal from taxation of
the Postoffice site, business ventures
closed out, etc. Under the circumstances
San Francisco assessments had more than
held their own.
The statement read by Mr.. Herzer dealt
with SIX specific cases, showing that many
pieces Of property had been sold for con-
siderably less than last years assess
ments. He said that many of the outside
homestead properties are assessed at $50
per lot, when, in fact, it is practically un-
salable.
Mr.. Beamer asked Mr.. Herzer how
many cases Of over valuation, such as he
had read, could be cited out OF a thousand
assessments, and he replied that he could
not say.
Mr.. Beamer said that if the San Fran
cisco Assessor did not make more than
half-dozen mistakes of that kind he was
A PHENOMENAL ASSESSOR.
The way to have determined the relia-
bility of the assessments referred to
would have been to produce affidavits
from property in the vicinity of
those referred to, showing how they re-
garded those assessments.
Mr.. Herzer, in reply to Mr.. Hebron,
claimed that the real estate sales reported
in Magee's real estate circular were not
fair criterion of the actual prices OBJ
tanned.
Mr.. Hebron replied that last year Mr..
Magee swore to the correctness of the
figures in his circular.
HEBRON WAS HEELED.
Mr.. Hebron asked Mr.. Herzer if it
would not be as fair to refer to the sale Of
piece of property for $4,000 assessed
for $4,000 as fair criterion of the relative
merits of sales and assessments, as to the
few quoted by him. Mr.. Herzer did not
think so.
MIR. Hebron quoted from the Magee
circular to show that sales to the amount
Of S4,34, 900 had been made during ten
months, the assessed valuation of which
is s., 1908
The board here took a recess to enable
the members to get some lunch, and the
visitors to recover their wind.
Afternoon Session.
Mr.. Herzer resumed his statement to
the board in the afternoon. He said he
had examined the boards figures on the
Sau Francisco real estate sales. Several
of the sales, he said, were nearly equal to
the assessments, and number were far
in excess. The German Lutheran Church
property on Geary street, which was as
sessed for So, 900, was sold for $50, coo. He
remembered the property. Ii was bought
by DrOperty-oWner adjoining and he
didn't believe that it would be as valu-
able to others as it was to the purchaser
Herzer wanted to take the Magee docu-
ment and compare the statements. His
request was granted.
Mr.. Hebron called the gentleman's at
tention to the fact that on an average the
real estate sales in San Francisco and the
assessment showed a difference of 4S4
per cent. Last year the assessments
were 49 per cent. lower. He also said
that an examination of the records az to
contract prices for the erection of build
ings and the assessed valuation showed a
discrepancy.
Supervisor James asked if the board
had made similar comparisons in other
counties as regards the building con-
tracts.
Mr.. Morehouse said they had not, in all
cases, because all other counties did not
have records convenient.
SWAN OBJECTS.
Mr.. Swan took occasion at this point to
object to the use of the contract c0mpari-
sons. He said the board had no right to
single out San Francisco in the matter.
He would not object, he said, if the board
would make similar comparisons in other
counties.
Mr.. Morehouse reminded the San Fran
cisco mem Der that he and Mr.. Beamer
made extensive inquiries in Los Angeles
and other cities with reference to the
same matter.
Mr.. swan declared that this was only
hearsay evidence and should not be ad-
missble,
The board did not go further on this
line, and Mr.. Beamer proceeded to ques-
ton Mr.. Herzer with reference to mort
cages. In answer to his queries, Mr..
Herzer said he thought the amount of
loan made by San Francisco bank
would come near representing the full
value of the property. He added, though,
that very few loans were being made
nowadays.
Mr.. Beamer said he had figures show
ing that the Hibernia Bank between the
lst of January and the lst of March of
this year loaned S406958 on mortgages,
and the assessments on the same prop
erty was S322, $40. The German Savings
and Loan Association loaned SOS. 1l3 and
it was assessed for S9l 1897.
Mayor EIlert thought this was a good
showing.
THIS WAS A HARD ONE.
Chairman Morehouse reminded him.
however, that the banks were not al
lowed by law to loan more than 90 per
cent of the value of the property. The
Assessors figures showed that he valued
the property at less than the banks were
that the banks were not allowed by law
to loan more than 80 per cent.
MIR. Hebron added to this that a Hi
bernia Bank official testified before the
board that they only loaned 40 per cent.
of the value of the property.
Mayor Ellert said he did not consider it
fair for the board to pick out a limited
number of cases where the assessments
were lower than the mortgages. He said
such evidence should not be admitted,
unless every mortgage on the books was
included.
Mr.. Morehouse differed with the San
Francisco Mayor. He said the evidence
was good no matter how limited the
| boards Investigations went. But, in this
case, he said, the investigation had not
! been limited. They had over 1900 com
OariSOnS batWeen ImOrtCapaS and asSaSS-