New-York tribune., 1905-06-17
CIRCUIT T-LIlTLEf0N TILT.
CONTROLLER a WINNER.
Purchase of Montaaik Theatre Site
bp Citg Is Sustained.

The Board Of Estimate and Apportionment
rssterday with Borough President Littleton
,4one dissenting, sustained Controller Grout in
.r-eeIng TO pay S50o00o for two-thirds of the
,so,.auk Theatre lot IN Fulton-st., near Flat
sush-ave. Brooklyn. for the Manhattan Bridge
.srrninal The entire lot is assessed by the Tam
many Tax Commissioners at 100000 On the
basis of the sale to the city OF two-thirds of the
,ot the parcel is worth 100000.
IN Grout read a memorandum to his asso-
clates showing that the assessments IN various
psrts of Brooklyn. instead of being full value
IS proclaimed by the Tax Department, are less
than 90 per cent of the market value The
Controller. in reviewing his course in getting an
option on the theatre property. said:
For many months past have been negotiating
With 1fr. Reynolds, of the AIontauR Theatre
Company, with the view of buying that property
81 private sale, following the practice which has
prevailed so largely in recent years. and which
tss saved the city. in the costs of proceedings
IN interest and in purchase price an enormous
sun Of money in the aggregate. These nego-
fisticns resulted in the offer, signed May IL
which was submitted TO the Board Of Estimate
lsst trloay. Tor the sale of the lands between
he lines OF the new street, besides buildings
shich are total destruction. for the sum of
sT00eo
Il was obvious that the CITY would have TO
fsce an award Of at least 1913 coo. which would
I'm az interest 6 per cent u would seem
c4eeT lI1t tue oIIer OF SsssUObo was advantage
GUS ano Mr. Reynolds would be very glad to be
relieved Of his oblgat ation to sell at that figure.
Al that is produced IN opposition is the fact
that the theatre property has been assessed at
s5ea-uaa OF course assessed value is no legal
Evidence OF actual value and with all due re-
sp5ct to the TtA Commissioners and their depu-
fies. submit that where property is advancing
n values as property along Fulton-st. has been
advancing because of the subway construction.
assessed value is no evidence at all OF actual
value.
call attention tc one notable case. The old
academy of Music site in Brooklyn, assessed
for 100000 with the building on it, was sold
for S0lT 900 after the building was burned, and
some Of II reSold a. a rate which would make
value of SS00,000 for all, or twice the as
sessed value
Mr. Littleton got the Mayors eye when the re-
port was finished and moved a recensidera ton
of The vote OF the last meeting when the pro-
posed purchase was approved saying: Il DO
not belieTe the place TO be worth 100000. BY
making hat purchase the city is setting pace
for all the property along the line of this i'm
proveTnent-"
Mr.. Littleton's motion for resubmission of
the Montauk plot purchase was put 10 vote, and
Mr. Grout was sustained
There another tilt between Controller
Grout and Ar. Iittleron on the subject OF rnU-
nicipa1 construction Controller Grout took oc-
casion 10 ssy that IL the Borough President had
lived longer in Brooklyn he would have known
the law better, and that by the referendum vote
municipal construction was settled.
You mean to say would know more If I had
been born eariier?" Interrupted President Lit
Teton.
IF you had lived longer in Brooklyn, said"
replied Mr.. Grout, tartly
Il seems to me .ou more ardent advo-
cate OF municipal construction as candidate
than IS an oficeholdeT,'' retorted Mr.. Littleton.