The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1912-03-01
BRECE[ONS TURNS THE SPOT
.9ss LIGHT ON MAEiUkA FIGURES
CFrom Thursday 3 Advertiser,

sideration at that time, he added. ssWe
had got into the habit of turning in the
reports at those fgures,'' he wound up.
Judd Building Figures
That matter partly settled, the
district attorney then took up the ques-
tion of the value placed by the expert
upon the Judd Building. Reidford de-
clared that he had relied upon ono of
his agents in assertaining the value OF
that property. He estimated that the
fixed charges amounted to twenty-five
per cent. of the gross rental. The
taxes were 1929, insurance $500, water
| $50, upkeep $1,000, leaving net rental
of $717S, according to his figures. He
valued the land at $15 square foot,
exclusive of the portion containing the
Brewer offices. He set the value of che
building at $4,000 and land at $4,000,
total Of $13l, 200. Again the matter
of the difference in tho taxed and the
sale value of the property came up aud
again the expert made the same OF
practically the same explanation.
Nahula sale Low. ~
In speaking of the value he had
placed on the Cummins' estate prop
erty there or thereabouts, he declared
! that he had made a careful investiga.
! tion of the figures given him and satis-
fed himself that the estimated value
was correct. Speaking of the portion
of the Mahuka site already owned by
the government, he asserted that In
forming an estimate on the value ofthe
surrounding property, he had ignored
the sale because, in the first place, IL
WINS absurdly low and in the second
place he had learned through talks with
the directors of the Bishop Trust Com
pany that the matter of public spirit
had entered very largely into the cal
culations of the owners in disposing of
it to the United States. He rejected
the Emmeluth purchase for the same
reason. Any one, he said, could see
that it was not bona fide sale as the
price Of $3.50 per square foot was
! ridiculous. The Austins were among
those people who were influenced by
publicspirited considerations.
Helping out Friends.
Breckons, Just before adjournment,
took up the question Of Reidfori's
motive in taking the stand, and was
told that the expert had not discussed
the matter of compensation at all, but
would do the same If situations were
reversed. The witness seemed much
embarrassed at these questions, blushed 2
and rubbed his Redeemed face with his
hands. Then he abruptly recovered
himself Further questioning brought
out the fact that the Bishop Trust Comrt,
pany is employed to act as agents for
the Austin trustees and is paid 80 much
per annum.
l The matter of taxes again bobbed up
and Breckons and Olson clashed for
the last time during the day.
ooh, you are too touchy' exclaimed
Breckons, in reply to n shouted objec-
tion from the other attorney.
"I have a right to be when you in
osist on INTERPRETING remarks in the
record, came back Olson.
Adjournment was taken at twenty
minutes to four O clock.
/. watching Case.
The case is being watched with con-
siderable interest in the tax office and
treasury department, and some of the
testimony being given before Judge
Dole regarding Honolulu real estate
values will probably bob up later when
the board of equalization meets to dis
cuss assessment values. The result may
be some raises in assessments of prop
erty for taxation purposes which will
make the gross increase more than the
sum of twenty-five millions, given in
The Advertiser yesterday as an esti-
mate of what tho total Increase would
probably be.
transcript of the testimony in the
Mahuka case is said to have been or
dered for tie treasury department. It
! will furnish figures for comparison with
the tax returns made As brought
out by the crossexaminations bt
District Attorney Breckons, there Is
much difference between the values
claimed in the condemnation suit and
the figures at which tho property in
volved has been assessed for taxes.