New-York tribune., 1896-12-07
THEIR OFFER NAMED.
COMMISSIONERS WILL GIVE S3oocoo FUN
SUGAR TRUST PROPERTY


THE AMOUNT FIXED by A BoATsD OF APPRAISERS
--s5ooooo DEMANDED BY THE TRUST.
WITH CONDITIONAL CLAUSE.
1t has been definitely determined by the East
River Bridge Commissioners to offer the Ameri-
can Sugar Company S350.OO0 for the water
front property extending from Kent-ave. to the
pierbead line between South Fifth and Sixth
sts This is the site required for the tower on
the Brooklyn side but the company asks
$500 600 for the site. with the condition thrown
in that the Bridge Commission erect on II a
three-story freproof building to he rented 10
the Sugar people for $4,000 year for twenty
one years The Commission declined to make
any conditions. ana made the offer or H'''o"
unconditionay This sum was ilxed py d
Board OF Appraisers consisting of Martin Joos''
John Schurnann and Joseph II. Pratt, ana thev
stated that they considered this fair ofer Tor
the property involved Commissioner Sperry'
speaking OF the acquisition OF property TOY
bridge purposes said last night that ultimately
the Commission would secure all properties be-
tween the approaches and the piers, ana LOT d
distance of thirty feet on each SIDE as a danger
line.
.'This is necessary" said Mr.. Sperry, Ito elm
9nate the danger of fire. In the old bridge this
is discounted by the fact that the iandward part
is composed largely of stone. In the new pridge
steel will be largely used, and fire would un-
doubtedly cause the steel to buckle ana leao 10
great loss / believe the first heavy expense ell
tailed in the purchase OF these properties TO DE
in reality an economy. The land VIII be ac-
ouired as rapidly as possible for the reasons
stated"
"Is true that p II. Flynn has offered TO buiid
the entire ,structure?"
II do not know that he has made any such
offer. The contracts will be given out from time
TO time and. If MIR. Flynn puts in as proportion
ately low bids for the other contracts as ne mas
for the New-York tower. there is no reason why
he should not get them. / believe him to be
entirely responsible in every sense of the word
There are two security companies on his bond
] do not know who his financial hackers are.
might they be the Johnsons. the railroad men?
They are interested in iron works in Cleveland.
Ohio"
II do not know anything about that but be-
leve they manufacture the steel rails now used
on trolley roads throughout the country. | never
heard that they made structural ironwork. but
suppose 1t can be made anywhere that there is
a sufficient plant for the purpose
What effect will the new bridge have on low
er Broadway property"
Il believe il will enhance that property, be-
cause the foot of that street includes a great
ferry system leading TO different parts OF New
York and the ferry company promises TO run
additional ferries. of them as high up as
Ninetieth-st New-York. With the old Bridge,
Fulton Ferry led to only one place in New-York.
There will also be ferry for market purposes,
and these will make that section the most ad-
vantageous for manufacturing purposes of any
in the consolidated cities. For some reason or
other this lower Broadway property has never
been properly developed. owing to a hesitancy
on the part OF the owners which has never been
explained i think there will be a gradual in
crease in values up to the time the bridge Is
opened. No city has a street with such tre-
mendous crowd upon 1t night and morning as
broadway has, with so little business upon II
as this street shows. You would think there
should be consequently large business interests
upon It, but there are not The new bridge Will
draw largely from the section east OF Washing
ton-ave and i think values will decline in the
western district. l believe that the great busi-
ness centre Of the city will yet be at the juno
tion Of Myrte-ave. and Broadway. / believe
that consolidation will bring series of bridges.
and from the Battery across Governors Island
to South Brooklyn is an ideal site for one TO
meet the needs of that growing section.
"As to the actual work being done now the
caissons are being built. and will be ready TO
sink about March l. Mr.. Flynn Is makina ar
rancements for the stone for the York
pier and it will not be long before there Is
tangible evidence Of the work, as 1t is to be COM
pleted In fourteen months