The Providence news. (Providence [R.I.]) 1891-1906, 1902-04-09
CAvE-IN COST
One MILLION.
Block Damaged BY Subway
Operations Purchased.
NO HAGGLING ON TERMS
Sentimental as Well as Actual Losses Were
Considered 10 Making the Final
Settlement
NO HAeGLING ON TERMS

New York, April 9.--Through August
belmont & Co. financial agents OF the
subway Construction company, fun
settlement has been made with the own
ers Of property in Park avenue whose
homes were destroyed by the cave in"
OF March q, when the fronts OF several
handsome residences on the east side
OF the avenue slid into the rapid transit
tunnel The settlement involved cash
payments aggregating S,OOO,O0O and the
purchase of a whole block of buildings
Details of the transaction. which is
without precedent in the history OF rapid
transit operations. are lacking, but II is
known that an entire block Of dwellings
has been purchased by a representative
OF Belmont & Co. and that the price paid
for each plot more than compensated the
owner for actual losses resulting from
the cave-in. The property owners were
approached separately, and the terms Of
fered were so liberal that all were con-
strained to sell. AS result. suits against
John b. Mcdonald, the tunnel contractor;
Ira Shaler, the sub-contractor, and others.
nave Dten dDdnOOutu nc VI
safety, organized after the accident, will
probably adjourn indefinitely.
NINE HOUSES PURCHASED
Nine houses were purchased by Mr.. Bel
mont's agent before n final agreement
with the residents Of Park avenue was
reached The property owners acted I'm
concert. and were Informed promptly OF
the negotiations in progress, with the re-
suit that exceptionally good prices were
obtained Only one member of the COM
mlttee objectedsto the terms offered by
the agent of the Subway Construction
company. He demanded for his home a
sum several thousand dollars in excess
OF the valuation placed upon IL by the
appraisers. After a conference yesterday
an agreement was reached and the owner
OF the property affixed his signature to
the deed. t+
In seeking settlement no attempt was
made by the representative OF Belmont &
Co. to beat down those who had suf-
fered from the tunnel blasting. On the
contrary. the utmost liberality was
shown. The price paid for the property
on the east side OF the avenue, between
Thirty-seventh and .Thirty-eighth streets.
ranged between $500 and $500 front foot.
the upset figure being approximately 5000.
In addition, II is understood that Mrs
Annie M. Crawford, who conducted a
boarding house at 63 and 65 Park avenue.
in the old Coils p Huntington residence,
has been indemnifed for the losses she
sustained in being compelled to move.
NO HAGGLING OVER PRICES
The property purchased by the Subway
Construction company includes the late
home of Anson w. Hard, at 40 Park ave.
nue.. which is at the northeast corner of
Thirty-seventh street; No. 81, occupied by
III. H. Flagler; No. SO. occupied by Mrs.
Willets; No. IS. occupied by Hall Park
Mccullough: No. 81. occupied by John J.
Murphy; No. SO, occupied by Frederick w.
Devoe; No. 81. occupied by ID. Leroy
Dresser, and Nos. 63 and S. occupied by
Mrs. Crawford. and owned II is said.
by Charles T. Barney.
1T Is due to the rapid transit agents."
said John j. Murphy at his new home.
AL Lexington avenue, last night. Ito say
that they have done everything possible
10 satisfy the property owners In Park
avenue who were evicted from their
homes on March 2l. There was no hag-
Cling over prices, and In each instance
cash was paid as soon as the deed was
signed.
"The negotiations were not conducted
directly by Belmont & Co, but by a per-
son representing that firm. Sentimental
as well as actual damage was taken into
account and the terms offered were sx-
tremely liberal The frontage OF the
block measured 200 feet. and the price
paid was about 5000 a front foot In
other words. the agent OF Belmont & Co
paid out S1.0O00o0 I'm cash. AS soon as |
sold my house at 81 Park avenue l offered
my resignation as "A member OF the com
mittee OF safety. but IL was laid on the
table"
MR.. DEVOE HELD OUT
Mr.. Devoe refused to accept the terms
offered by the representative Of Belmont
a. Co He dema nded price I'm excess of
the value fixed by the appraiser and held
out for his own figure After conference
with Mr.. Belmont, the agent paid the
price demanded and yesterday Mr. Devoe
surrendered title 10 his late home.
"All Of this property Mr. Murphy said.
"is restricted. The purchasers cannot
erect hotel on the block or put up apart
ment houses. 7 suppose they will rebuild
the houses The property Is worth all
that was paid for Il. and I do not see
how the rapid transit people can lose a
dollar"
EINF SH0WINC