The Washington times., 1913-08-07
KALBFUS IS AGAIN
GR|LLED IN HOUSE
Assistant Assessor Admits
SpecuIation-Bare His
Realty Operations.
Continued from First Page)

II did not obtain the loan from Mr.
Glover personally" said the witness. -
have never obtained personally a loar
from Mr.. Glover" :E.: ..
Has Mr.. Glover a real estate business
in connection with his bank?' inquired
Chairman johnson. F.
The witness thought not
Another Loan Later. -
Mr.. Kalbfus said the Glover loan was
later paid on by the making of loan
with another party. -5--
Where did you get your 5000 CASH.
asked Mr.. Johnson.
81 obtained it from Peter A. Drury
through NJ. J. Keane"
Mr.. Drury Is brewer?''
He is brewer and banker" said the
witness.
The witness said Mr.. Walker had
taken full title to the property to facili-
tate subdividing.
How much do you expect to make on
this deal?' asked Mr.. George.
Il think eventually / will clear
Sl5.00o.' frankly said the witness
What was IT assessed at when you
bought it?'
last assessment the figures were So
That was at two-thirdsT'
Yes"
Now Worth 10000.
Then the value would be above
$4,000. In other words IT has jumped
from s3S,000 to more than $4,000 In
about two years." said Chairman John
SON
Yes but Mr.. Walker has made a
number of improvements on It / think
he has spent something like $4,000 in
grading, laying out streets. macadamiz,
ing, and laying sewers and sidewalks.
so they laid sewers for your Chevy
Chase PROPERTY" asked Mr.. Johnson
Yes. but Mr.. walker paid for them,
or a part of the cost."
Mr.. George wanted to know II repre-
sentatives Of Mrs. Black had not tried
10 get the property back after II was
sold to Kalbfus and Walker.
NO. answered Mr.. Kalbfus- "A man
named Shoemaker offered to pay me
5000 profit, and I think he wanted II
for E. ]. Stellwagen-
No Outside Consideration.
was there any 'otuside consideration
when Mrs. Black sold you this property
at sss.oOo?" asked Mr.. George.
"Assuredly not" emphatically de-
clared the witness, who showed signs of
haring up at the ipsinuation-
as 1t fact that Mrs. Black has
other desirable property?'
al think she has sold II all; she may
have some elsewhere in the District, but
! believe we took the last. In this con-
Ecction want TO say that she appeared
well satisfied with the price we paid
her, and just a year before we bought
she sold a plot across the street to E.
J. Stellwagen for $500 an acre We
paid her 1850 and Stellwagen got ad-
joining land at about half that"
Mr.. Stellwagen, believe. has large
interest IN the Fisher company?' in
puired Mr.. Johnson
Yes" said Mr. Kalbfus
Mr.. George wanted to know II Mrs.
Blacks property was under-assessed.
The witness didn't have the assessment
figures, and was directed to produce
them later.
ALSO bring along the assessment on
the Stellwagen lots purchased from
Mrs. Black" directed Chairman John
Mr.. Kalbfus testified to the purchase
of two lots near the District jail for
S5lA He said he bought these from s.
w. Woodward and John Joy Edison.
trustees for the Y. M c. A
Il have never made anything or the
lots and have frequently wanted to sell
them for what paid" he added.
Mr.. johnson produced a map of the
mcmillan Park scheme, and the witness
located his lots thereon.
Bought Little Farm.
In testifying TO the purchase of a
little farm IN Montgomery country,
Mr.. Kalbfus said. Il do not want to
be understood as attempting to make
any issue between speculation and in
vestmelIt As used here the terms NAV
be considered synonymous"
Mr. Kalbfus testified to the purchase
OF III De Sales street for $3.50. He
used 1t as a home for one year, and
has since rented it A 5000 trust was
z Ken hV a 1nan
trustees Of the Louise Home.
Chairman johnson and CONGRESSMAN
George showed surprise when the wit
ness testified that on one deal he and
J. c. Ramage had made $3.50 profit in
less than thirty days, and that Mr..
Kalbfus had to put up only 1850. Mr..
Rsmage put up $500 and loan was to
have been foated. but the property, lots
whiie.
Both the purchase and sale, he said,
had been negotiated through L. L.
Nicholson.
Mr.. George asked a number Of ques-
tons about the sale to Mr.. Drury Of
lots SIC and sz1, which were featured
in the testimony yesterday. Congress-
man George was critical of the fact
that these lots were sold at s1-5O a foot,
whereas the assessment was only 40
cents a foot and the assessors did not
raise the assessment Immediately fol- |
lowing the sale. |
The books hadn't closed, and. al
though two of the assessors must have
known of this sale price, the assessment ]
ngures were not changed" complained |
Mr.. George.
Either Drury paid too much for this
property or II was underassessed, Wig
orously asserted Mr. George. which |
do you prefer to say?''
i prefer TO say neither" sharply re-
torted Kalbfus You are the Judges.
and ! am the witness here"
IF the land was underassessed
continued George, mot only were Won
derelict, but the other members of the i
board were derelict"
Ihat is arguing" replied KaIbfus
I'm ASKING You what your opinion
is" persisted Mr.. George.
have no opinion said RaIbfus
This line Of questioning continued for
sone minutes without bringing an ad-
mission from the witness either thar |
the land was under assessed or that
Drury had paid too much for ii, Mr.
Kalbfus had previously testified that
he had offered to sell the land for 6o |
cents foot TO Mr. Mckenzie, one a;
the assistant assessors, which would |
make the 20 cents assessment correct
Kalbfas said the lots were worth more
10 Mr.. Drury than to any other pur-
chaser. F0
A third lot in the square, he said
had been sold at s1-32 a foot TO Conrad /
Becker.
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