Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1906-11-05


animation if in his opinion the property
in the vicinity Of Capitol street was
dependant largely on the shoe factory
for its prosperity. He replied In the
negative. He was asked to value the
Patten place on Child street ana put u
at $1,000, but later placed it at Sl0oo-
The witness was not quite sure as ne
had not looked at the property with
the idea of valuing it.
In reply to questions as to what he
considered the proper income for tcne-
ment house property Mr.. Holway stat
ed from l. to u per cent He was
then asked what the income should be
on residential property that was let
He placed it at 9 per cent. on Water
street property he said that he thought
the annual income ought to be per
, cent.
The witness was asked if he knew
that about half the lawns in front OF
the houses on Capitol street We're In
the street and he replied that he had
heard something of the kind but had
not considered it important in making
his estimates of the values.
The attention Of the witness was
called to the \. w. Whitney and Dr.
w. Scott Hill places on State street.
They are assessed at $4,000 and MI
Holway placed a value of $4,000 O.:
them. He was asked if he thought
that man could afford to invest $l0.-
| 600 in either of those houses with the
| idea OF renting them He replied thai
| he did not think that one could. He
| did not think that it would pay man
, to buy that property with the intention
of holding it for future sale. The
| Whitney place was built so years ago
! and the Hill place 40 years ago. In
his opinion the DR. North estate viii
be on the market for some time before
a purchaser will be found who will
give $4,000 for it.
/ g. S. Downing. the next witness call
cd, also valued Capitol street property
1t was found that his list was exactly
like that of Mr.. Holway and he STATED
that he had made them up in conjunc-
ton with him On the Edwards bloch
the witness placed a value of 100000.
On oss-cxamination the rents o
the Edwards block were said to b'
about $40 per year Asked if he hat
consulted with anyone in regard to th'
value Of this Edwards block. he replied
that he had. with Lendall Titcomh
Charles Andrews, Gov. Hill and Melvin
s. Holway The witness was then ask
ed what Mr.. Titcomb thought it wa
worth and he replied 100000.
Mr.. Downing's opinion of what TIL
income should be on tenement houS
property was 10 per cent. and on
house that was adaptable for n home
but rented. the same. He made a re
duction of per cent. in the case o
Water street property.
Ernest w. Elwell was recalled t
testify in regard to what in his jildg
ment, was the reasonable expense o
maintaining the water power of tn
Edwards plant. This met with stron
objections from the counsel for tn
city. who claimed that such matter
must be a subject of book account an
that the company should be obliged t
produce their books. This was me
with the statement that no such sep
crate account was kept. The cour
ruled the question admissible and Nj
Elwell gave 4 list of a dozen items tina
totalled about $500. The witness wa
asked few questions as to the condi
ton of the buildings owned by the Ed
wards Company that are occupied b
the Cushnoc Paper Company. With tn
exception of the boiler house, he sal
they We're very old.
The INSTRUMENTATION of the wit
: ness was conducted by City Solicito
Dutton. 1t was shown that the fias
board expense is divided among tn
Edwards mill, the Kennebec Light (
Heat Co. and the Cushnoc Paper c.
This was noted in making up Mr.. FL
wells list. The canal on the east sid
of the river is not maintained by tn
/, Edwards Company.
The last witness was Albert H. Prat
agent of the mill. He gave the actua
| incoming freight of the Edwards c.
as 1000 bales of cotton $500 pound
| each). 1900 tons of coal and $50 tor
of miscellaneous freight, making a tot;
of 400 tons of inward freight for til
| year 1905. The t-going freight f.
? the same year was: cloth 1885, l;
pounds. cotton waste. 1i4.240 pounds
hoops, 10000 pounds; total Of 81