New-York tribune., 1908-04-02
PROFITS WERE Sl5S,OOO
Hunts Point Parh; a Profitable Deal
for !. 4 FIaRnery.

The sum OF sl5s.500 is not considered a bad proht
- clean up on the transfer 81 piece OF properly
which Is assessed by the city for only &@" ana
Joseph A Flannery the lawyer. who made It on
that HINTS Point Park site did not seem L thifh
81 either Yesterday when he admitted to john
F,urrov Mitchell Commissioner OF Accounts. ul-t
the figure approximately correct S'a'eiiiei
Of the net profit of the Barretto Point ConlishE'
whose property was condemned for park purposes
Charles H Patrick, president and treasurer "a
,be East Bav Land and Improvement Company
which held The property for eighteen years peloie
transferring il TO the Barretto company on De
oernber 8 1885, said the company sold the propti's
because it had paid SlO0.oo in taxes on 1t ana
needed money M Patrick admitted that hls com
pany did not get what il wanted for It's Ii'e-agi
land-and-v plot but it did get $3.50 FROM MI
Patr5ck-s testimony ii would seem that he was h"'
.,o, +, The fact that the local board Of impro't-
nlent was considering the accommodation "' ''ie
condemnation Of TIE property at the time
Then came 20 the stand Mr. Flannery. who was
practjcaIiv the whole thing in the Barretto Polnt
company With him was his cheokoooh' "ItIcH
showed two deposits, one for Sl"Vo ana 'e '''e'
for $4,000.
Then the difference between the gross sum OF
s,59 a. said Commissioner Mitchell, and the
ss7eoo YOU paid the East Bay company less 'Ie
fee of about s7er0 TO Mr. Dorset MI Dorset "as
the attorney for the East Bay comp nEI-1hat oii
ference. about S15s.aeo. was your net pFoh'-
Yes. that Is approximately correct ei
easy reply of Mr. Flannery-
William l. Cunningham, Deputy Tax Conlills
sjouer for The Bronx, said that he had N'1ueo tNo
rsrcels OF the land in 1903. 1aol. 1868 and 1906 at $'o
eao, wear The under water portion he estlnla1eu
Ar s. .-a making total of $500 No greater NaIue
could he give the property he said. because OF lis
,paccessibility and uselessness for ordinary puI-
poses .- -
WHY do you say inaccessihle:' inquired Coii-
missioner Mitchell.
.,F3ecause though you could reach it by fat
nottorned boat on the river side YOU can orlNe d
truck 10 it on the land side. though you might get
10 il in a light rig
Air Cunningham said he had no intention OF rais
Ing land values IN the immediate neighborhood as
q corseouence Of the condemnation proceeoingsa ana
said fatty he thought the price paid for the Hunt
Point site was exorbitant Moses ?. Mulhall. an
o,rer deputy tax commissioner. agreed with MI
cunningham in his valuation OF the property but
for this year he raised the assessment to Sll've,
This was after he ha6 heard of what he also
termed the exorbitant price paid for the land-aho-
water park.
Theodore Eames. an inspector on the brohA
~o,,rthcs1se caused some amusement oy saying
that President Haffen in appointing him. had as-
s,-e45 him that the job would be good for seven
d. q week AIr Eanles found out however, dur
,nr his first Two months service that there was
oftan nothing 10 inspect nothing TO do He
called the attention the architect, Michael J.
c.arvf, 70 the matter and Mr. Garyin made per-
sona1 insuection and found out that MI EaInes S
conscientious scruples were justified