The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1897-01-15
JUDGE ARCHIBALD ON
HANDLEY ESTATE

Concluded from Page 81
half of IT, The appraiser has given
this a nominal value of $5,OOO, or nine
cents per share. The possessions OF
the company consist of property at
Winchester, Va, and at scranton, "a
In the former city the land Is mostly
outlying suburban lots, but a hotel has
been erected there at a cost OF SSO,OOO
and other improvements contemplated.
1t is charged with the payment OF
mortgage debts to the extent of about
$50 600. The character and value or the
property IN Scranton are not given
The witnesses. produced by the appel
lauts who testify that the valuation of
the appraiser IS excessive seem to base
this largely upon the fact that the
stock has no present market value but
several of them at the same time ad-
init that 1t has some possible prospect
I've value, and cOnCede that the ap-
praiscment as it stands is not uncon-
scionable. Nor do any of them take
into consideration the value of the
Scranton property Considering the
well known business sagacity of the
deCCdent, and the large amount he had
invested in this company, ii is almost
q reflection upon his memory to sug-
gest that this stock having Il par value
OF @SNlVOO was HDSOlultlN NolllllfSS,
or to argue against the insignificant
value of $1,000 affixed to it.
6. The value of 100000 put upon
the improved property at No. 226 Lack
aWanna avenue, Scranton, Pa, is en-
tirely reasonable. 1t is located in the
business portion of that city and DR..
ThroOp and Mr. John Jermyn, who were
witnesses for the appellant both give it
the same value as the appraiser. We
Will not disturb his work.
I. The Merchants and Mechanics
bank building at No. APO Lackawanna
avenue Scranton, Pa, is appraised at
SiS 600. This, under the evidence, is
somewhat too high. We consider $40,
OOO as a fair value for it and we sustain
the exception, to this extent, and reduce
ii accordingly. The question of the
life estate of Anna Hafey in the prop
erty is subsequent matter.
VALUATION REDUCED.
s. Upon a consideration of the evil
denCe we also reduce the valuation of
the property at No. 42S Lackawanna
avenue from $4,000 to $4,000.
8. We also reduce the valuation of the
store property situate at No. APT Lack
awanna avenue, Scranton. to 100000
instead of $4,000 This is 1000 per foot
front for the land, or $25,O and $4,000
for the improvements upon it.
10. The Wyoming House property,
Scranton, in our judgment, is seriously
oVerestmated by the appraiser. No
doubt as argued by the counsel for the
commonwealth, this is the most valu-
able tract of land held under a single
title in the city of Scranton, and its To-
cation is in the very heart of the city.
1t is capable, moreover of being diVid-
ed up into lots or business blocks as
suggested. But it's present condition
olS Ip N L II
its value, and the hotel building upon
it is almost a detriment. The prop
erty has a frontage on .LackaWanna
avenue of 1876 feet, and 20I feet on wy
Oming avenue. out of this there could
be made on the LackaWanna front, six
lots OF 20 feet front each by 125 feet deep
and one lot of 80 feet; and out of the
frontage left on the Wyoming avenue
side three lots of % feet front and 125
feet deep WITH say small alley way
Of seven feet to give light and access to
the rear of the lots fronting on Lack
aWanna. This would make ten lots in
all, which at a value of $4,000 each or
$1,000 per foot front would make $25O,-
0GO 2 here is still left a square in the
rear 100 by 142 feet in dimensions, ac-
ceSsibe by two alleys, but considerable
would have to be deducted from this
piece to afford proper access to the lot:
fronting on the two avenues If 1t is eX-
pected to keep up their value to the
point which we have just suggested
S25 600 for this plot and $4,000 for the
improvements upon the property are al
that we feel we can allow for each
particularly in valuing the property as
Il whole. which is the way we have
t. take it. Its value as hoted is gone
and the large amount of money which
the executors have just been author
lied to eXpend in order to turn 1t into
Ia 1ol, oh For
how little the improvements now upor
a large part of it count. a conserVa
tive estimate for the whole would MOI
be far from 100000, and at that We
place it.
PENN AVENUE PROPERTY.
II. We also slightly reduce the valua
tion of Nos. POS and 207 Penn avenue
Scranton, Pa. This lot is improved
but with old wooden buildings which
count for practically nothing. 1t is A
feet front by 175 feet deep. Our esti
mate upon it is $4,000 instead of $22, ,OO
as fixed by the appraiser.
II. The 200 acres in Frederick coun
ty, Va, are also over-valued. The ev
idence shows this tract to be worth on
dollar per acre, or $1,000 in all. We re
duce it to this amount instead of $4,S0O
as valued by the appraiser. This con
tentOn that this land is not liable 70
collateral inheritance tax because /
is not within this commonwealth vii
be considered later on.
13. Too high value is also set upon tn
land in Mcdowell county, w. Va. Thi
is y body of $4,000 acres of timber LAM
located on the headWaters of Panthe
creek, a branch of the Big Fork of tn
Big Sandy river. 1t is also in all prob
ability underaid with several veins O
-bituminous coal: one vein is certain
The only disadvantage under which it la
bOrS is its present inaccessibility. TIL
writer of this opinion has been upo
the land and can say from persona
observation that the timber is of tn
finest character, but railroad or Othe
facilities are needed to get it to mal
ket. Its coal and mineral resources ar
entirely undeVeloped if not untesteC
That there is immense prosperity
value some day in this great body {
land cannot we'll be doubted. The It'll
of the decedent, we have nothing to d
with; we are putting a value on tn
land itself, not upon the decedent
title to it. His estate is a fee simple
and we must value it as a fee aCcorG
ingly, The uncertainty of titles
West Virginia no doubt somewhat al
fects the market value of lands Their
and that is all the way that the ques
tion can come in. But ten years e>
elusive possession and payment
taxes gives title there as we understan
it, and the evidence is that this hs
been kept up by Judge Handley and h
immediate predecessors.
What, then, is the fair market Walt
of this land? The appraiser after
painstaking eXamintion of the questio
including a trip to and inspection
the property itself has fixed it at s
per acre. But notwithstanding the cal
which he has taken and the desire
arrive at a correct conclusion in II