The Hawaiian gazette., 1908-12-01


ton made by the Waterhouse Trust
Company, stating what requirements
the trust company would have to fulfill
in order to close the transaction.
The Waterhouse Trust Company had
considerable difficulty in getting the
property.own to agree to sell at the
figure required by Mr. Taylor, as they
considered it less than the property
was actually worth and taxed for, but
their consent was finally obtained be-
cause Of the expected enhancement
which would accrue to other adjacent
holdings of the owners and their as
sociates interested.
The Waterhouse Trust Company, in
putting in this original bid of S14S,-
500, took into consideration the fact
that it would have to purchase the
property that was to be dedicated for
the extension of Bishop street, which
contained about $4,000 square feet, and
for which it would have to allow $685.
O00. When Mr.. Taylor insisted on the
price being reduced to $l04, 125, the
Waterhouse Trust Company felt justi-
fed in making this reduction, believ-
ing that the Government of the Terri
tory of Hawaii could be induced to
purchase the necessary lapd for the
street and open the same to public use.
As the government declined to pur-
chase the property for the street, the
only way the trust company could com
ply with the Secretary's requirement
was to secure the amount necessary to
open the street. namely, $4,000, by
voluntary subscriptions on the part of
those interested and from public spirit
ed citizens. One-half of this amount
was directly obtained from the ven
doris of the property, thus further re-
ducing the price to be obtained for
their land The money raised for the
opening of the street was with the dis
tinct understanding that Federal
building should be placed upon the Ma
huka site adjoining the street.
In addition to the emphatic express
sion of public sentiment as to the To-
cation of the proposed building, which
was made known to Mr.. Taylor at the
Young Hotel pavilion meeting on
March 10, 1907. resolutions favoring
the Mahuka site were subsequently
passed by the principal organizations
of Honolulu and forwarded to the Sec
rotary of the Treasury. A petition
from the business community general
~ signed was also sent forward.
After the close of all preliminaries
all conditions made by the United
States Government having been met
and all requirements complied with, Sc
that the owners offered to complete the
transaction by the delivery of deeds il
fee for the property, the United States
Government decided to settle all pos
siblity of question as to title. etc, b,
regular condemnation proceedings, be
fore taking the property for the pur
pose of erecting the Federal building
: thereon.
! These proceedings were had in tn
District Court of the United States 70
/ the Territory of Hawaii, and were con
, cluded by decree settling the It'll
$ and condemning the property to b
used by the United States Government
/. for the erection of Federal building
v The value of the Mahuka site ha
q been greatly enhanced by the extei
O sion of Bishop street, and recent sal
e of property on the opposite side of tn
d street at So per square foot indicate
It that the property is worth double VIII;
a. it was when the United States a
| UulTtu thN PuiNh"SN Bt'>
IS at that time was made lower than ia
# values then were for the reasons state
,e above. In view of the increased vall
l. of the Mahuka site, the vendors fe
It that if any disposition is made of tn
If property, other than for the erectlt
l. of Federal building. it should reve
s. to them rather than be exchanged vii
le any outside private owner. Real
" tate experts regard the value today
e the Mahulla property as conservative
o. double that of the Irwin, or Pala'
IN Square, property.
Want the Land Back.
no In explanation of the section of Il
a statement of facts as presented regar
ne ing the desire of the vendors of the NJ
~ huka site property to be given the
or land back unless the original plan
IS. build the Federal building on it be CT
mt ried out, Mr.. Lowrey stated that t
rSs vendors were preparing to demand t
va restitution of the land otherwise.
te spalding Offers Objections
Ill The adoption of the report was me
ed by George p. Castle, seconded
Jas. A. McUandless.
he E. l. Spalding offered some object
ka to the wording.
TO- 81 wish to object to the statemt
made by the committee that it is
of unanimous wish of the citizens that
he Mahuka site be retained. l make t
a objection, first, on the endorsement
a. George milford Robinson, an expo
to brought here at large expense by
lat Promotion Committee, whose report l
on with the favor of large number of
W citizens, and also on the long list
nv, names of prominent citizens who 81
iu ed the memorial in favor of the Ir'
ISL site. To attempt to show that the
use, preston is unanimous in opposition
ION the Irwin site is not right.
the "As supporter of the Irwin sit
tha | ,,,;sh 90 ,onn al; unant tho Dammit 90