Waterbury Democrat., 1902-05-05
CHAPMAN WILL HEARING
Taken Up for a Time This Morning
 and Adjourned to Next Monday.


 The hearing on the will of the late Daniel L. Chipnan has been adjeurned to next Monday. Robert Brown was one of the interesting witnesses of the day and Robert AIcGrath was another. Mir Brown was asked the same Ques- tions that were asked the preceding day regarding the lease between Mir Hayes and MT Chipnan of the proper ty which in the hearing is known as the East Main street property It was rather hard for the attorneys to get NIT Brown down to the exact roint of their question. what did he think was the fair market value of the property to-day? Suppose" said Mir O'Neill,
 that you were assigned by the court to go and sell that property. what do you think you ought to get for 1t? That is the question" After some hes ltation Mir Brown said he thought he ought to get S56,000. or about $500 front foot. He was asked what the annual rental ought to be for twerty years beginning 1891. under the condi- tionS which it was leased to Afr Hayes, and he said about S1.000, and he would not have injured the man very much by these conditions to whom he rented it. concluded MT Brown He l considered this was a very profitable arrangement for MT Chipman. Now adays.s resumed MT Brown. it is not very diffigtlt to keep posted on the profits from real estate. He said that the average returns is about 212 per cent after taxes and other expenses are paid. Waterbury. he said, was differ ently situated as q manufacturing city from any other city of the kind in the country. He said it's dependence Is upon the copper trade principally, but also on the brass business From '01 to '93. when the country was in bad state industrially. Waterbury did not suffer anything like what other com munities did.
 To Mir Williams MT Brown said the lease to Mir Hayes was a very prudent and safe business venture for Mir Chip
 man. and, moreover, he always con-
 sidered MT Chipman was competent to do business and make will He knew Mir Chipman long before his first mar
 riage.
 Robert McGrath said the property
 was worth about S75.000. He said foi
 his place across the street $30S00, and it was not one-half the size of that ir
 question, but he considered if the besi Ste1ho SACSpI Onc III dIl lue cltN. 116 also thought property on his own side , of East Main street more valuable tEar , on the other. There is more traye there. Mir Hayes, he said. put a ereai deal of money in his place and built , up the business and deserves a good , deal of credit. Before '91 he thought $ the place ought to pay in rent $50 [ month After. the Improvements made
 by Mir Hayes on it he thought 1t ought r Ito pay in rent good deal more, bu } 5000 would be too much. Consider
 ing the matter fairly he thought tEt 2 leasing of the premises to Mir Have l under the conditions already mentioned : was very good and profitable to botl P Mir Hayes and Mir Chipman p William J. Schlegel the real estate I dealer. valued the property lower thar : either Mir Brown or AIp McGrath. II, $ thought it worth about $500 I iron ! foot. and in this calculation he included i the livery stable property. He though 7 fair rent would be 5000 or $500 ; s year.
 I The hearing then. adjourned to nex D Monday.