Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-01-15
the impression that Il could be success
fully erected at that now?

the impression that IL cOuld De SUCCESS
fully erected at that now!
1T would not
Mr.. Starrett said il would cost 10 per
cent more to build ii today. He also
said there is no "obsofescence' obvious
in the building today.
Charles F. Schneider. an expert in iron
and steel, of this city. testified that
structural steel in this city costs now
from SEQ to $50 a ton. Representative
Redfield. showing an expert knowledge OF
through a long series of questions on the
price of steel.
Building Expert Testifies.
Louis III. Emmert. called as building
expert, was the first witness on the stand
yesterday afternoon, continuing the testi-
mony as to the value of the Southern
building. He said il could not be repro
duced for less than $1,000 O0O. Arthur w.
Hall. an architect testified that the build
ing would be worth in the neighborhood
of a million dollars, exclusive of the land.
No little interest was taken In the
testimony of Herbert Browne. the expert
who produced much of the information
which the George subcommittee on
real estate assessment and taxation
worked He holds the view that Wash
ington property in the financial sections
is advancing. He said the Southern build
ing site Is one of the most valuable In the
city, that II is worth easily $50 foot and
would advance. in his opinion. to much
more than that in years to come Mr..
Browne held that the Southern building
site is the best of the four corners at 10th
and III street.
Judge Prouty and MIR. Browne had a
long cOllOquy over the value of build
ing with membranes in the way of
mortgages. Mr.. Browne stuck to the
proposition that the Southern building.
carrying two mortgages. would not affect
the fact that it would be good invest
mtnt for any one tn buy the property
on 3 per cent basis. Judge Proutys
view was that a property with mort
cages on 1t could not possibly be good
investment II the interest on the mort
cages ate up the income from the prop
erty.
Col Judson was on the stand in the
afternoon also. Representative Johnson
questioned him as to the coming assess
ment in the neighborhood of 18th and III
streets.
Understands Value of Property.
Representative Johnson said during the
hearing yesterday that the value of the
property is now perfectly clear. Turning
to Col. Judson he asked what the South
ern building would pay in taxes next
time
About $4,000" replied Col Judson.
us there an assessment now being
made?"
mo. but it has been assessed for infor-
nation in connection with this matter
Have the assessors assessed any of the
surrounding property for your Informal
ton in connection with it?'
NO" answered Col. Judson, because
il has no relation to it,"
THE surrounding property has no value
in determining this proposition" asked
Representative Johnson.
Col. Judson replied that he did not
know what they considered in arriving at
the new assessment on the Southern
building. Representative Johnson asked
him why the Southern building had been
singled out. and the reply was the Com
missioners directed 1t.
William +. LipscOmb. builder, who APP
praised the value of the Southern build
ing at $916921 for the insurance depart
ment. was the last witness yesterday.