New-York tribune., 1899-06-10

$3.50 $3.50 and $500 you did not increase 100 per cent
there. did you? Att did not warrant II then II
/ did not
Q.-Now. you have yourself used the expression
stand by II.
Q-What do you mean by Not honestly made
Al have explained II to you there.
Q-Now. you have shown how It might be made
wrong by mistake. but dishonesty Is something
more than mistake or mistaken Judgment or
carelessness. Al haven't used the term dishon-
est; honest said.
Q-You said Not honestly made" That means
dishonest A.-wer. II you try to put It that way
that is your qualification Of IT,
REASONING HARD TO FOLLOW.
Ono. those arc your words What do you mean
by Not honestly made? A-There is a piece OF
property pointed out there 13o in 1896 l3o In 1897 IL
that ratio should go on and no investment would
he made that property has certainly increased
Increased in this section when YOU make no in
crease in the district in West Chester you have mem
TONED? A-Pont out the case and viii show you
Q.-You have said so yourself. A.-weil. you must
Ono, you find 1t. Find II. VIII you fnd II?
West Chester you had made no increase NOW why
NOT? Al was taking OF an Individual piece OF
property particularly, on Main-st.; West Chester;
every method. manner and means to see 4 could
no; raise that property or increase G i from dTnd 5hG
couod not do IT. and II remained IN ststu quo 'he
as before.
section over last year? A.About Is to 10 per cent
oonly l5 to IS per cent for the whole section
Q.-Do you mean to insinuate that there was any
collusion between the former deputy ara the own, %
at ats tall Tn0'e properly nc
o.~you do not mean that? Al do not mean
The Chairman-You mean It was matter Of
error % N negsR having Increased these values in
many cases to the full 100 per cent MI some cases
ask You IL you have assessed these properties at
their market values? Am my judgment yes
aye6 rae vou assessed them at Is per cent?
A-No sir; have not used the word peaSeh'bhgs h,s
am asking you. A.-No
ANSWERED BEFORE ASKED.
o.-was 1t your intention to assess at about
o.NSow. w. you don't know what am going TO ask
assess at 70 per cent Of recorded sales? Al an
tclpa ed that question and answered. NO. g..
Q.-Well you should not; you know that Is per-
'o'-To Anticipate a question you do know
The Charman-We will be satisfied If you answer
the questions when they are asked IN proper lorm'
without anticipating them.
Q.-Now. Will you answer tina, question ate after
having heard the whole OF 1t. ITO the stenographer)
Read il TO him (The stenographer read the ques-
ton "a follows): WAS II your intention to assess
at about rs per cent OF recorded sales NO my
intention was TO assess at the fair market value
o"Did You hear. or hear Of the testimony OF
Mr. Feitner the other day. when he said that the
intention of the city yas to assess at about 10 per
Odd you know that he had 40 testified? A.
O.SThen in your case you have assessed at what
YOU believed was the fair market value? Ayes
Q.-And II you had been assessing at the market
and others had been assessing un0er tne pldn
that Mr. Feitner mentioned. there IS an inequality
between your section and others. Is there not. II
that is so? Al stand for my own section.
Q.-I understand; but you see at once @ tnat theTs
the president made a statement, he knows what
o.-Exactiy: what did you do or asked to do
in comforting with other deputies for the purpose
OF equalization of values? Al conferred with no
ssr 5q IN tho & TO GG Of in
real estate business and some of the biggest men
gard 10 real estate. / didn't have 10 confer with
anybody.
HE NEEDED NO ADVICE.
Q-I understand Al had as cIerk-ailow
O.NGo ahead Am intelligent man. who had
also been, in the business for twelve or Or fifteen
Q.-Have you had any appeals from your de-
Q-fIow many? Al had twenty-eisht.
Q.Twenty-eight? Ayes sir; out of l27H ap-
Q~You had no instructions; then, Mr. Hayden. to
ssess at 70 per of recorded sales? A-No, sir.
Q-You had no instructions to confer with the
surrounding deputies for the purpose or equallZng
values? A.-No. sir.
Off 1t has been testified to by the officers OF
any rate, have not been In IL? A.-Oh, that isn't
true can explain & 1n to you speh so So ms
structons from anybody.
oTa Is what say nDo y scs nyb65Y TG Were
not In It? Al don't know anything about H. |
testify TO what | did. / don't know anything about
what they did what they heard
Q.-Very well, that is another way OF answering
Mr.. Moss-Then we have 1t perfectly clear. take
it, Mr.. Chairman. that generally throughout the
Borough Of 1T me the coSsed ses S In
the Borough OF The Bronx where this gentleman
the s fu market value by an expert Of twenty
experience. who knows what full market value is?
A.-You must remember | didn't use the term 'ex-
o-I used L. Do you think it is proper that that
value? A.@Yes, sir.
Q.-iIave you always had that opinion? A-Yes
sir-that is l qualify that, Mr.. Moss-fair market
1oEAt ,ts fair market value? Ayes and If in
dulgence is 10 be given. II should be given 10 the
POip0What do you mean by fair market Before
7 ask that question, l read to you your ques-
ton on the Civil Service examination. tenth .ques;
estate is considerably lower than It's market value
In your opinion. is there any sound reason for this
vaiue Of real estate not being the market value.
and representing but 30 TO 90 per cent OF ihe SAM
one. Al 80 stated in my answer, before you
read that.
HEDGES ON FAIR" VALUE
O-I asked you-no. your answer has got TO stand.
7 won't discuss It with YOU because j went over
them TOO carefully. The assessed value OF real
estate not being the market value. and represent
Ing but 20 TO 90 per cent Of the the reason Of
al assessed value being lower is valid one An
nv snswpr TO YOU I used the word fair market
,,aue and considerat ton to be given TO the owner
o-Is fair market value to be found by assessing
AZ 70 10 80 per cent Of the market value? What do
you mean by fair market value? A.-Well. not
exactly 10 the limit. =,
C-Not exactly 10 the limit? A'-Not exactly to
the limit - -. - s .. a..
m narkef value? A-At a fair market value
O-Not 10 the limit? A.-You won't accept a
qualification. -, ,o,
Didn't you assess 10 the limit! Al assesseu
az the fair market value.
a Did YOU assess at 30 10 90 per cent? Al as
sessAd al the fair market value and what deemed
fair in my judgment ,
O-Now we get back to the Judgment. Now tell
me as q man OF experience In real estate, what is
market value. and what is the meaning OF that
ferm? ALThe definition OF the market value OF
LII L=l.L q