New-York tribune., 1899-06-09

A-1f the mortgage IL correct
Q-The mortgage is correct. you know that
Al say II II is correct. Even IL 1t is. somebody
may have loaned more than the property is worth
Q.-But that IL what you went by. wasn't 1t?
A.-Sometimes.
HIS BEST SCHOOL SALOON.
Q.-what did you do other than look at that
record? What did you do about that piece OF
property? A.-Apped my Judgment.
Q.-What was your judgment founded on? A
What / believed be correct.
Q.-Wbat basis have you for any belief? What
do you know about real estate in that district?
Now come tell me. Deputy. what do you know
about real estate values? A-About what prop
erty is worth?
Q-What opportunity have you had for learn
ing? Al have been at 1t for a year.
Q.-And this IL your years work? am asking
you for your present judgment | am not asking
you what you have been doing for a year. Al
have lived all my life In New-York City. and asso-
ciated with builders and real estate men and
talked with them about values.
Dwell. now why did you talk about values
with real estate men? Al kept a house where
number OF them frequented for years.
Q.-What kind OF a house? "A saloon.
Q.-You didn't tell me about that. A-You didn t
go far back.
Ooh. How far back was that? A-1s7s to
1884
Q.-Is the judgment Of real estate values Of 1879
to 1884 the Judgment controlling you this date?
A.-No but l got ideas beneficial to me to-day.
Q.-And who were the real estate men you con-
suited with? A.-Some of them alive to-day
Q.-Who? A-John r. Ruck one OF them a
builder.
Odd you consult with Mr.. Ruck about those
valuations? A-No.
Odd you ever consult with Mr. Ruck about
any property in this section? A-No sir
Q.-Sections differ don't they? Would the same
groundwork for the first section apply to the ifh
section. the same basis Of valuation? Any
Judgment is the same
NOTHING COULD BLUFF HIM
OIL am not talking about your judgment Sup
posing the Commissioners should say to you; "Mr
Enselhard, next year I you value the first
section. 1 want you to go down In Wall Street
and value the first section" Would you do it?
A.-Certainly
Q.-And you would do It just as we'll you did
the fifth section7 Al think so.
Q-And for all you know you may be sent there?
Alt Is possible.
Q-It is quite possible? Ayes. sir.
Q-And you believe you are fully equal 20 the
situation? Ayes sir.
Q-What do you think the people who own real
estate down there the people that have to buy the
property and lease the property in order get the
rents out OF It and live off it-what do you think
they may think OF the valuations made In that
II increase their property. they think l am
bad assessor and II reduce their property. they
think good assessor. That is what think
about real estate owners. Qaughter)
Q.-You have not any compassion for them? A
have not met OF them since the year have
been in the business that wanted to pay any
amount OF taxes
A.-They all think 1t is high. matter what
amount you put on. They all want to have 1t re-
duced.
Q-And you obge them. You did not increase in
your district? A-Well. l thought It was fair.
Where | thought II fair did not increase It.
Mr. Fallows-I want to know whether the hand
writing In regard TO the $1,000 mortgage you spoke
Of was Mr. Engehards handwriting?
Mr.. Moss-Ask him.
Q-Was the handwriting In regard 10 the 1890
mortgage which you spoke OF in your handwriting?
A.-No.
Mr. Moss-Did you put any of those remarks in
the book? Al did.
Mr. Falows-What paper is that? A.-That Is
memorandum.
Q-For what purpose7 A-To assist us In making
the assessments
THAT rs PER CENT BASIS
Mr.. Moss-Did you ever hear IT was the under
standing that property In Manhattan was TO be
assessed at about 75 per cent? A.-No.
O-You did not hear what Commissioner Feitner
testified the other day about that? A.-Oh, heard
that did not hear him testify to that. understood
Commissioner Feitner to say that he considered
about 70 per cent of the sales
Q-Recorded sales? A-Recorded sales. about
rs per cent OF the recorded sales being correct
Not that we assessed at IS per cent OF the value.
understood him to say that Is per cent OF those
sales correct.
Q.-Only 70 per cent Of the sales were correctly
figured? Ayes something about that. That Is
the way l understood 1t.
O-Didn't you understand that he thought and
wanted you to understand deputy that 10 per
cent OF the recorded sales the real value OF the
property for taxation purposes? Alb per cent
Of the amount It would sell for?
Q-Yes. Al did not understand that.
Q-Here is a piece OF property. No 40 Sixty
sixth-st April 80 1897 sold for 1880. March 80
mortgaged for 1880. You have two figures there,
a sale In 1896 Of s7 600 and a mortgage in 1899 OF
sl2 800 and an assessment of $4,000. How did you
arrive at that? A.-Where Is It?
O-At No. 40 SIxty-sxth-st A-No. 40 East
Sixty -sixth-st?
O-Yes A-What was the year OF the sale and
mortgage?
O-The sale was April 30, 1897 si7,5Co; the mort
gage this year. N2,5OO A.-Probapiy III NY Juus
ment 1t ought TO be
Q-You have got the whole figures A-That was
in 1896. This assessment was for 1899
o-Here is another piece OF property in that
same year 1885, was sold for S45o, that Is NV'
less than the other house. and mortgaged IN 1881
at $4,000 that Is 500 less than the first mentioned
houso and q Is assessed at the same value $4,000.
Ais that on the same block?
O-Yes A-Same kind of house?
O-Yes A.-Then the values are little diner-
ent
Dwell. isn't It evident that on the sales ana
mortgages the values Of those two houses are NOT
alike? A.-Of course they are not ahKe'
GREAT REASONING, THIS.
Dwell why are they assessed alike A.-Ihe
houses are probably alike: but the values are ho'
ake. they are assessed alike probably because the
h,,,dirgs and the lots are alike Even II there are
two different sales. assess two pieces OF prop
er,v on the same block at the same amount.
o-Then the figures OF the sales are not real
help? A.-Sometimes.