The San Francisco call., 1897-02-26


| served the chairman, soothingly. "This
is really farcical."
Mr.. Schussler (turning to DR.. RottanzD-
On what subject do you wish me to adj
dress your
DR.. Rottanzi-I believe during the last
meeting you stated in answer to ques-
ton that the City was really the gamer
By the company having purchased the
property on Stockton and Geary streets.
Il said, replied the witness, that 1t
was good business investment, and that
increasing business necessitated larger
Offices
DR.. Rottanzi-What were the profits OF
the company on that investment
They only get certain amount of rent
out of that building, and III addition they
can charge themselves with reasonable
rate for that portion which they will oc-
cupy themselves. With the two together
they will have an investment of per
cent or over"
DR.. Rottanzi-What have been their
profits since the property was acquired?
''They have been good rental since the
Wigwam building was turned over to
them. They have received the rent for
that while it was occupied"
DR.. RottanZl-Do you consider the in
crease of value as profit?
81 think that should properly be with
profit
DR.. Rottanzi-You also stated that it
was worth $500, ,OG0 to-day?
That" replied the witness, twas what
l had been told"
I'm other words" said Rottanzi, 'they
made profit of S1S0,000."
Gas soon as they have sold it and de-
Quoted the profits they will know. 1 con-
sioer it was a prudent investment,
amounting to $1,000 purchase price.
Whatever the lot has improved in value
since that is the increase in the value of
the property. 1t compensates them for
such : rate of interest as they have not
received on the Investment from the be-
ginning"
81 WISH" the witness added, "you
would talk little more respectfully to
me. II am willing to answer any gentle
mans questions.
"I am as much a gentleman as any
body" shouted DR.. Ro ottanzi, angrily.
'If you do not, said the witness calmly,
II shall refuse to answer you. l do not
propose to be interrupted. Let me go on
with my answer. Now ask me questions"
DO you consider" resumed Rottanzi,
''the difference of $1S0,0O0 as profit?''
II know nothing about $780, 900. The
property has not yet been sold. F"
Supervisor Britt rose YEARLY. "At the
beginning" said he, sit was understood
that Mr.. SchussIer was to have an oppor-
tunity to finish his answers. I do not
think he is on trial here, nor has he CON-
mitted any crime. l hold that he is en-
titled TO and should be accorded the same
privilege as we would receive"
That" observed DelaDy, twas my in
tentlon in offering that motion"
II should like to know what we are
here for" said Supervisor Smith. 1--WE are
here, take it, TO investigate. and we can
ing questions"
DR.. Rottanzi put another question, but
Mr.. Sch ussler coldly requested him to
address himself to the reporter, as he (Mr.
Schussler) would not longer reply to him
personally.
This was too much for DR.. Rottanzi.
81 say" he cried, shaking an admonitary
forefnger. that this board shall demand
that be answer such questions as l ask
him. Haye you calculated the amount of
interest received from the water-rate pay
ers and the taxpayers upon the invest
ment of $1,000 by the company in that
piece of realty?'
"What rate of interest has been re-
ceived from water-rate payers and taxpav-
ers ?" Queried Mr.. Schusser. Here the
reporter read the question. "Well. re-
piled the witness, II don't know of any
water-rate payers OF. taxpayers haying paid
interest on that investment"
"Then," said Rottanzi ''you wish to
Imply that that was never counted in the
list OF properties upon which we base
water rates2"
81 never said that. You asked me
whether had ever calculated the rate Of
interest We had received from the water
rate payers and taxpayers cn that invest
ment of $4,000 for that property"
"ln other words" resumed Rottanzi, az
want to know the amount You have re-
ceived from the community at lar pay
ing for water, upon the investment of
$12O, by the water company in that
particular piece of property. 1t amounts
to-day TO $155,000. That plus the actual
increase in the value of the properly would
make 1t in the neigh borhood of $275,0O0,
and that does not include the original
price, taxes and interest on taxes. | wish
10 show that the wisdom of the company
in charging interest in the shape of water
rates has not done justice to the COM
munity, and that the company really owes
the community large sum of money"
Britt did not think DR.. Rottanzi was
called upon to explain the question. They
wanted to hear Mr.. SchussIer and could
attend to DR.. Rottanzi later.
The chairman agreed with Britt and
suggested that Rottanzfs arguments
might be considered when the board
struck the rate.
Rottanzi then fred the following ques.
tions at the witness:
when were the water lots in Sausalitc
| acquired?"