Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-27
EXPERT VALUES
MEADOW LAND At
$1,000 AN ACRE
Says He Sold Some at That
Price for Railroad
Yards.
ANOTHER REAL ESTATE
MAN GIVES OPINION
Newark Property Worth More
Than Similar Land on
Hackensack River.

7, n Howard Chino =, tcstifying be-
fore the condemnation commissioners
IN the City Hall, who are to determine
the value of meadow lard owned by
former United Sta es Senator James
smith. ir., declared today that he sold
100 acres of meadow land t. the Lehigh
Valley railroad in 1897 at 5000 an acre,
and that for some of the land he
paid 81, 900 per acre. The lana was
boueht for the Oak Island freight
ward, This corroborated The testimony
of Albert T. Beckwith. h reviewed
this sale before the commissioners last
week. Mr.. Gilmour averred that he
considered this a fair lrice and eN-
planned that had the individual owners
known the land was being acquired
for the railroad they would have asked
higher prices.
He also said that he bought some
land from Mr.. Smith 1t that time for
$500 per acre. None Ct this LAM was
high land, explained witness, n all OF
IT similar, in fact almost the 6 ne as
that in the canal zone where are 10
Gated the holdings of Mr. Smith.
Fl, A. de Ra1smes, of Elizabeth, the
next witness, declared that the New
ark meadows were more desirable IMAM
those in Hackensack. He pointed u
that the river along the Hackensack
meadows is narrower and does nor
permit large vessels to turn around.
He also mentioned that there are five
d~raw-bridges along those meadows,
which tend to reduce the value of the
land. The fact that there were five
trunk lines on the Newark meadows
added to the value of this land in Mr.
de Raismes's opinion, and also the fact
that the New Jersey Central railroad
bridge is the only one in the way of
reaching the Newark meadows.
Witness also averred that the roads
leading into the Hacke sack meadows
were not to be compared with those in
Newark. He said hat there were five
good roads leading into the Newark
meadows. and but two entrances to the
Hackensack section. Witness declared
that the Newark meadows would be
available. when filled in, for residential
as well as factory cites. He emphat-
ically stated hat the land owned by
Mr.. Smith, about 45 cores is WORTH at
least $1,000 an acre. II gave this
value in considering tn H'hole tract.
Picking out certain plots Mr.. de
Raismes stated that 1900 or $4,000 per
acre would be a fair price. This land
was on the bay front.
He valued land on the Peddie street
ditch, not so desirable, at between 500
and $1,000 per acre.
Speaking of filling in the land he
that he had consulted experts
in the matter, who told him that the
land could be filed in at ten cents per
cubic yard, or 81 1866 per acre, ten feet
deep. To a question put by Herbert
Boggs, city attorney, he admitted that
this offer was for all meadow land.
Alfred T. Beckwith was recalled to
the stand today to explain some pur-
chases made in 1907. Mr.. Beekwith
was the last witness to give testimony
on the petitions in question. There
were eleven tracts in this lot. The
values given by witnesses today diff
fered from those of Harrison Van
Duyne, appraiser for the city. who
valued the and at between SITS and
5000 per acre.
Frederick G.. Faulks is counsel for
Mr.. Smith. The commissioners are
Oscar Keen, chairman; David Young
and Frederick A. Boreherlins,
In three more petitions, twenty-seven
parcels. about 1895 acres, the re-
mainder of the land owned by Mr..
Smith in the canal zone. We're APP
praised by Harrison Var Duyne, He
put the price per acre from $3.50 to
81, 900. The highest price was on the
bay front. This makes an average
price Of approximately $3.50 per acre.
Mr.. Boggs wished to introduce testi-
mony showing the price paid by Mr..
Smith for some of his holdings. He
had copies of deeds showing the con-
s%ideration which Mr.. Smith made to
purchasers. Mr.. Faulks objected, and
the commissioners decided to reserve
decision until the next meeting, which
will be held Wednesday, January 5,
1912, at 10 a. m.