The morning journal-courier., 1908-02-14
COUNTY BANK
 GETS CITY FUND
Continued from First Page)

and saving the city every posslple uelas in putting through this public lInpLoine ment, We beg 10 make the Iol4o"iN suggestion. o-+ oan N nile the rule as to the interest can hardly be found in terms in any ,.,s sta,u.e or decision of the Connecticul ,o,.l,,,., the principle laid down by our supp eiiio court in d recent case goes Tar 10 III. dfcate what that rule is. In ohdlalla II vs Waterbury, 65 Conn. i2l II "ds held that damages should be assesssu as of the time when the lmproVeiliei II e : was finally adopted and the tunds lilaue available for the landowners whose pronerty had been taken, whether or not the city actually went into posses- sion of the land taken or not. lHe court deciding also that. this date was not changed by the appeal Of one or more of the parties in interest. . The date of the final adoplion, tie time when the funds became aVailaple was April r., when the money was us posted in the city treasury IL Wouia seem to follow that on that date Iie land became the property or the e,as' and the amount of money a"dtueu' subject to any correction that mis h. be made thereafter. the property ol llle Bishops. This view seems 10 De III ac cord with the view of other states, ana to follow as an almost necessary cohse- Quence from the language used Tn tne charter itself. That April + was the date when the rights of the partles pc | came fixed was assumedyby both siaes In the trial in the superior court All though the market price of State street property certainly fiuctuated from tlme to time, all the evidence offered was | for the sole purpose of showing the value on April r. It would seem, fur thermore, that the Bishops not only have a legal right, but very strong | ls.se i,, los,. f,x in n- | sDect.
 It will be conceded that while pro ceedings of this nature are pending, ad- 1 vantageous use cannot be made ot | property. In this particular case our clients instead of being able to secure long time leases, were compelled for many months to be content with either short time leases at low rentals or none at all
 As a means of adjusting the matter we are authorized by the Messrs. Bishop 10 waive their claim for the net profits of the land from April lT i on, and to account for those net prof | final award from that date. This i would make the figures stand as fol- | lows:
 Amount of award. s5OS25oo
 Interest ........... 2.5isii
 s52, 2,9105i From this deduct net profits
 amounting to ....... 5iO.5i Leaving as balance. ..,...... s52. i60 0G
 We respectfully ask your honorable board to take one of two courses: First | adjust the matter upon the basis above i having the order drawn as a matter of routine business for s52.46O; or, sec ond, in providing any less amount have 1t distinctly paid on account, saving Is due or not for further determine ton
 If the latter course Is taken we shall make every effort to secure the adjudi. | cation of the question of interest with out serious interference with the prog. ress of the public improvement
 While 1t would seem that the ap, peals are not finally disposed of anc the city cannot as a matter of righ' occupy the land until this question O. interest is adjusted, we propose to take only such steps as are necessary tC protect the rights of our clients anc are willing 10 enter into any reason, able arrangement which will enable tn, work to proceed, and at the same tim, save the rights of botn parties. W, trust, however, that your honorabl, board will see its way to follow th, first course suggested and thus adjus | the matter once for all.
 We have the honor to remain.
 Respectfully yours.
 JEROME DONOVAN,
 GEORGE BEERS,
 Counsel for Edward r. and Fredericl
 New Haven, Conn. Feb, ls, 1sos.