The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1912-03-01
SUPERVISORS HEAR
EXPERTS FIGURES
R. R. Reidford Explains Why's
and Wherefores of Hotel
Street Values.

Members Of the board Of supervisors
last night attempted to show r. r.
Reidford, realty expert, how he should
reach conclusions as to valuation of
Fort and Hotel street property.
Two Of tho members spent much of
their time badgering the expert and did
little to argue the question of valua-
tions from purely business and com
mercial standpoint. Reidford repre-
sented Frank w. Damon, who had been
invited to attend the special meeting
of the ways and means committee, with
reference to the Hotel street widening
matter. p csr. 1885, =
"This board of supervisors may not
be very much,'' sneered Mr.. Murray,
"but you can be very sure we are not
going to hand out any Christmas
presents to you fellows
Mr.. Reidford cornered Murray dur
ing a wordy controversy advanced dur.
ing one of Murray's pet arguments that
Mr.. Reidford did not work his figures
as he Murray did. Mr.. Reidford de-
manded pointblank why Murray ever
tried to figure in the manner indicated.
Murray admitted that he "did not
know"
Double Barrel Talk
At times Murray and Low were both
talking at the same time, to the disgust
of each. Few of the arguments ad-
vanced by the chairman of the COM
mittee and Murray were logical. Both
refused to permit Mr.. Reidtord to make
comparisons of the Damon corner prop
erty at Fort and Hotel, with any other
similar property. Mr.. Reidford at
tempted to show that the Chambers
drug store at the corner of Fort and
King was similarly located, for COM
parison purposes. Mr.. Low didn t want
such basis, saying it was improper
He wanted Mr.. Reidford to compare
the Damon corner with property on
Hotel street. 4
The first question asked of Mr.. Reid
: ford was why the Campbell Estate
which adjoins the Damon corner, was
offered at valuation of So per square
foot, while the Damon property if
offered at $25 per square foot. MI
Reidford said 4S8 square feet were
wanted from his property for street
widening purposes, which would take
e.fifth of the entire property. The
Campbell estate offered 1884 square
feet. The Campbell Estate owned
frontage on Hotel street and much IL
the rear, and then swung around the
Damon corner to Fort street, leaving
the Damon property the only one OF
the cornersa The Campbell Estate coult
enlarge it's property after the frontage
had been sheered off, by adding to thu
rear portions. The Damon property
could not be added to. 3
The reduction of the Damon proper
Ity by one-ffth made 1T lmost impossi
/, bic to erect modern building on Tbs
corner, for, after going up three storiei
: an elevator and staircase would hav'
: Ito be provided, thus materially cutting
down. the store floor space. This woal,
cause a loss of rent. The rent yalul
} today was easily $3.50 per month. Whei
1.-THE lease was made the rental was no
: high. When the present lease expired
the rental demand would be much great
err for any future lease.
, Supervisors then asked many cues
tions about the taxation returns on tn
property, and demanded why the pres
; emit figures were not based on the. taxa
Q ton returns. Mr., Reidford said, ther
Q was always a difference between taxa
: ton return value, selling value, optic
: value and lease value.
Expert Under Fire.
Supervisor Low got off on the wron
track by demanding why Mr.. Reidfort
; if he twas honest, did not tell tn
: supervisors why he stated he did nc
. know the taxation return value, parti'
Z Eularly as che had paid the taxes, etc.
= Low-sat back smiling Mr.. Reidfor
! 'lanpounced very quietly that he did nc
: know for he had neN er made them GU
i lpeyer paid the taxes and was only
3 the present case as Mr.. Damon
= special representative. -
2 "What viii you sell the propert
= forf,' was asked,
. cit is not for sale.
% Mr.. Reidford told the supervisors all
% that there was a difference in valu,
e along Fort street. The Coffee building
i section, below King had one yaluatio
land the "retail'' section, above XIII
ie another, the values rising SO per Gel
10 as one encountered each block, comif
% Zap from Queen toward Beretania.
10 At the conclusion of the questionii
"a the matter was set over until 9th
" fpropertyowners are heard from. NJ
IA Reidford said he came prepared
IN hear counter offer from the boar
The members said they had not eonsi
NO cred an offer but would do SO. N
ed Reidford will file summary, of ]
OF arguments in behalf or a $25 per squa
foot valuation,
= nnIncrn pEnnhrc