Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-06-10
PARKWAY PROPERTTES
TO COST CITY S67l,44g:
VIEWERS MAKE REPORT
Estimates Made on Two .os
Largest Sites on Broad Street
to Be Purchased for
New Scheme
OTHER AWARDS DECIDED

Two of the three largest properties wh,..
the city must buy in clearing the wav q.
the Parkway were subjects Of reports az
by the Board of Viewers.
A majority report agreed upon by two :.
three viewers set s220,000 as a fair n,,,
chase price for the property at 40 ana 4,
North Broad street. now occupied by Dan,,,
Kopps cafe and owned by Sarah H. Fra
man. The valuation set upon IL hv ~.
owner is s22s,15O.
a similar majority report fixed s20s ga
as the price the city should pay for n.
property on the southwest corner of Bross
and Filbert streets 1t Is owned iolps,.
by Louis, Walter and Marie r. Lusson 49,
brings an annual rental of $4,000 fror.
the saloonkeeper who occupies It. NJ
interest which the city must pay on ~
purchase price since the properties wars
placed on the Parkway plan in Noyembsr
1906, will bring the total cost for the fIss
properties to s67l,44S.SS.
INTEREST CHARGES S126,57s.s5
While the valuation fixed in the report a,
the Freeman property is S220,0 600, the lntsr-
est charges which the city must pay tnasr
a decision of the State Supreme Court NH
amount to $12G,573y.33. The interest IL M
lowed at per cent. and covers the lin.
which has elapsed since November, 1905 Nv
time the land was placed upon the Parkwsy
plan. The interest charges bring the tota,
to be paid by the city up to S346,53Iss
The valuation placed upon the property
by the Board of Viewers is lower by ssin
than the valuation of the owner. The lav
permits the owner to appeal to the court,
for an adjustment of the difference. II n
generally understood, however, that the Az
ference is too slight when compared TO N.
principal to warrant a legal appeal Tbs
valuation of the Board of Viewers Ia yir
tually the same as the estimate made hy
city experts.
The report on the property was agreed
upon by Louis Saller and Charles W. Bessf
and is the one which will be accented 4,
the decision of the Board of Viewers A.
fred Gratz, the third man of the groin
which considered the case, submitted
minority report which fixes the valuation
at the figure asked by the owner. nh
accrued interest on his valuation would
amount to st31,262.S0 and would bring II,
sum to be paid by the city to a total oi
1853, ,41230.
The lot measures 40 feet on Broad strsst
and is 75 feet in depth, and with the excsp-
tion of the property on the northwest cor.
ner of Broad and Fllbert streets and the
holdings of the Medico-C Chirurgloal COLLEGE
and is the most valuable to be taken oyer
Tor the PARKWAY.
OWNER GETS RENT AND INTEREST.
The decision of the Supreme Court, which
allows interest at 6 per cent. from the tim,
the city placed the property on the Park
way plan until it actually pays for Il
was designed to compensate owners whoss
buildings would be deserted by tenants when
it became known that they were suhjeet
to condemnation proceedings. The properly
figuring in yesterdays report however has
been occupied continuously since November
1906. In this case the owner received not
only her regular income, but will be paid
in addition the interest which has aecFlsd
during the citys delay.
The majority report for $206, $50 for tn.
corner prnNerty also was filed by Saller
and Boyer The interest on that sum would
be Sl1S,662,5O and would bring the total
up to S32i,912.50. Mr.. Gratz filed dis
senting report, fixing the valuation at sa6p.
500 with interest at $751; ,025, or grand
total of $413,525. The assessed yaluatl1n
Of the property was S175,000 In 1905 sn
100000 in 1907.
The viewers also awarded Hugh A, BTp
gan, Jr., the sum of S15,637.50 as damages
for the property 5l6 North cath street
which was condemned on December Q, 1seA
The award includes a valuation Of Sill
ESQ for the property at the time of taking
with interest from that date amounting %
S43s7.5O,