The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1893-12-29
CITY PAYS THE BILL.
Hoboken Library Trustees
Don't Mind Giving $1,000
For Nothing.
EXPLAIN THEIR ACTION.
Francis Wanted $4,000, We're
Willing to Give $4,000, Com
promised on $4,000.

The exposure in THE JERSEY CITY NEWS
yesterday of the action of the Hoboken Lii
brary Trustees in offering for a site fully
$1,000 more than the property was worth
| created a mild sensation in Hoboken last
evening. The people are expecting reforms
i'll the city about this time, and to learn that
Mayor Pagan had endorsed such a scheme as
this was a trife unexpected by some.
The Trustees maintain that their action in
purchasing the property at Fifth street and
Park avenue, at a figure far in excess of its
value, was in every way proper. THE JER-
sEY CRY News related last night how the
Truetees had made an offer of $4,000 for the
property mentioned 60 Rees P. Francis, Jr.,
and it was stated that the property's real
value was but S., 900. In actual figures the
real valuation of the property is s 1850, the
assessed valuation being two-thirds of the
real valuation. Then Mr.. Francis is 81 $50
| ahead of the transaction. But the Library
Trustees had rather allow Mr.. Francis that
money than go elsewhere for their site.
A most desirable location, and one which
| the trustees had been inclining towards, was
| a strip with a trife over one hundred feet
frontage on Garden street, between Fourth
and Fifth streets, facing the park, just as
the accepted site does. This property is
owned by the Astor estate of New York, and
| the Trustee refuses to sell the and. The
Trustees said they must have it, and threat
eEed condemnation proceedings. This did
not brighten the Trustee of the property.
| The Library Trustees offered 800 a foot
for the piece. This would make the
offer about $4,000. Condemnation proceed
ings would cost a trifie more, and the Trus-
tees would have had the property they par
| fio,11arlu 1asirad I'm tho 1ar0nnv~tu fhoro
stand tenement houses, a disgrace to the
| neighborhood. When it came to a focus and
the Trustees saw they would have to resort
to the condemnatory act, they finched and
hacked clean out.
TRUSTEES INTERVIEWED.
TIL Trustees interviewed by a JERSEY
CITY NEWS reporter this morning agree that
the price paid was more than the property
is worth, but they add, 'we had to nave
a good place, and this one seemed best after
ALL
They. think 5000 DO a fair price. When it
is considered that Mr.. Francis asked $4,000
at first, they argue, $12,000 is a great big
knock down. But, on the other hand, when
it is known as the Trustees know, that Mr..
Francis property is worth even S4,650 less
| than the price they offered, the thing as
sumes a different aspect.
Mayor Pagan, who is a member of the
board, ex-ofiicio, said this morning.
81 was opposed to the board having a
separate building anyhow" The Mayor
81 fbo,gbt thew miobt usa The old aTnorv
or half of If, Bit T met with slcb strong
onnosition that 7 said nothing 7 would
offer $40 600 myself for the nro6erty II is
. Good location and the snafa E neculiarlv
5sn he 10 The rean;Tements Of the Iibra nv
i was not in favo,. Of oiv;ng s1o 6ao For +6e
nronerty Init voted with the others 7
ttb;nk Rowever that considerino the loca-
ton and fine environments the nronertv Is
N P' ~