Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-10-23
HUI WHlCHGOT
MAHUKA SITETO
DISCUSS BUILDING
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increased tax value on all adjacent
property and, according to G. 7. Wild
er, tax assessor. this increase will
probably be in the neighborhood OF %
per cent Bishop park, across King
street, is assessed on valuation OF
$2gS, 800 and the two properties are
approximately the same in size. Bish-
Oh park being slightly larger. The
Bishop property on Bishop and King
streets, extending 10 feet from the
corner, is assessed $40 a foot and
Wilder said today that he expected 1t
would go very close TO $3.50. though
naturally he is speaking effhand.
AS Castle & Cooke has lease of
four years more on its present build
ing, the company has not decided yet
on any future plans in regard TO the
new site and nothing will be done I'M
til the deed, is received from Wash
ington.
Malcolm A. Franklin, collector of
customs, said today that he had wired
the price bid to Washington but did
not know how soon he would receive
reply. They may answer by
cable, he said, cor they may not re-
ply until they send the deed"
Businessmen about town generally
believe that the price paid for the Ma
huka site is very close TO its present
worth, although they agree 1t went
higher than they thought possible.
Among the opinions of experts are
the following:
Richard Trent, Trent Trust Com
pany AS an investment it is little
high but ! am glad to see it 60 up
as it showed Honolulu real estate is
good investment.
]. w. Pratt, former tax assessor:
"The price paid for the Mahuka site
shows clearly that the value set at
the condemnation suit was extremely
fair and / believe that the money be-
ing made by the government should
be refunded to the former owners pro
rata as the land was not used for It's
condemned purpose.
Charles S. Desky: The price bid
comes near to what Honolulu property
is really worth. ! believe that land
is worth SIS foot"
/. H. Beadle, secretary, Trent trust
Company: The people of Honolulu
are Just waking up to what Honolulu
property is worth. The price up to
this time has really been too low"
Franklin corrects Impression
1T is not true. said Collector
Franklin this morning, that the
United States government condemned
the Mahuka site and secured the prop
erty for S104 900. The original trans
action by the government in connec-
zion with the Mahuka site was q
straight-out sale. There was no con t,l
domination Of the properly IN li,e
sense suggested by remarks appear
ing in the Advertiser Sunday morn
ing and credited to Mr., A. W.T.. Dol.
tomley of Bishop & Co.
saThe only property which was
hought under condemnation proceea-
mos in the sense of establishing a
nrice which the purchasers WouiQ
have To take was the Fort street prop
artv from King street to Merchant
street THAT property was suD9ect 70
condemnation proceedings to estapiisn !
) figure and the government "ouiu
not pay the price.
~ think it is proper that this lnior
nation should be given to the pubic
that the people may not gam .ns ~,
pression that the government lolIlu.y
took possession Of this tract Oh iaiiu
and then held it for a profit.
THE original Mahuka site sale was
a straight sale of property to the gov
ernmert and any condemnation pro
ceedings in connection with that piece
Of property if they were had al ali
were merely for the purpose OF claFi-
fving the title"