The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-01-15
BUILDING Value
TWO millions
Experts on Stand at lnsur-
ance Hearing Testify Con-
cerning Structure.
DEFENSE HAS FIELD DAY
Valuation Put on Property in ACCORD
with George Taxation
Report.

Attorney Charles A. Douglas, OF coun-
sci for the insurance companies, turned
the guns of the insurance investigation
on the committee yesterday. He called
as a witness for his side Herbert J.
Browne. who played so prominent part
in the investigation into real estate tax
alton and assessment conditions con-
Quoted under the supervision Of Repre-
sentative Henry George, jr., OF New
York.
There were five men on the special
committee of the District Committee,
which was authorized to investigate
pretty nearly everything connected with
the District. Representative George, who
conducted the real estate probe for the
committee. is now on the insurance in
veStigating committee. Three others are
on both committees, namely. Chairman
johnson and Representatives Redtield
and Berger. All four of the men, to-
gother with Representative Oldfield, the
NTH member, signed the George geport,
which stated, among other things, that
business property in the District is as
sessed at about 60 per cent of its true
value instead of at twO-thirds, as re-
guired by law.
In establishing one OF the principal
charges against the insurance companies
the committee must prove that the
southern building property is not worth
the 100000 at which it is carried on
the books of the companies. II they cs-
tablish this they are in danger OF re-
pudiating an important part of their re-
port. which four of the members Of the
present committee signed
browne willing Witness.
Mr. Browne. who collected the greater
part Of the evidence introduced at the
previous investigation to prove the charge
of underassessment. is naturally not de-
sirous of assisting the insurance com
mittec in proving that the Southern
Building property is Overvalued at 81
O000H. So he proved n willing and even
an anxious witness for the insurance
companies yesterday. testifying not only
that the property is well worth $20OGDm.
but that the companies are fully justified
in keeping their books in a fashion which
tho committee is inclined 10 appraisc.
Other witnesses yesterday were W. +.
Iipscomb, a local builder. who was one
Of the three appraisers selected by the
District insurance department to reap
praise the southern Building and who
valued it at 100000. and owen Brainard.
prominent New York architect and
building engineer. who has made an cX-
animation of tn" Southern building and
values the building alone at SI,G)0 m.
good deal higher than the figure placed
uPon it by Mr., Lipscomb.
Mr.. Browne valued the Southern Build
ing site at between Si5 and 50 a foot
He said further that any price which
might he stated now would he low
price a year hence.
Louis n. Emmert. a contractor and
builder. testified that it would cost l,G91-
coo to build the Southern Building.
Architect Gives Testimony.
Testimony strongly supporting the val
uation placed upon the Southern Building
itself hv the three appraisers was Of
fercd at the morning session by Owen
Brainard. Of New York. an architect
and building engineer. Mr.. Rrainard was
retained as consulting engineer during
the construction Of the House and SEN
ate Office buildings and has built a large
number of large public structures.
According to Mr.. Brainard. il would
cost approximately S1.l0O0O0 to duplicate
the Southern Building. w. p. Lipscomh
who testified in the afternoon, who had
made the appraisement upon which the
three appraisers based their figures
valued the building at less than $50. 600
Mr.. Brainard told the committee that If
the firm which constructed the South
ern Building received less than sl,lOO,-
900 for their work, some one had lost
money.
Inc testimony ol BTalnard Is COnSld-
cred as strong point for the defense.
particularly in view Of the testimony of
real estate men relative TO the value OF
the property on which the building
stands
The total valuation Of 10000 placed
by the three appraisers and indicating
an increase of more than S4o0OOI in the
book value of the property, is one Of the
principal points of attack by the prose-
CutiOn. The real estate witnesses intro
duced by the defense, have placed the
value of the property at approximately
so a foot. This together with the vaIua-
tiOn OF the building. by .Brainard. would
take the total some little bit above the
g. 10000 mark.
Tn Cur~ En-.ttn.,to-