New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-12

called to the explanations made by
members Of the commission in answer
to his charges he reiterated his state
ment that he was under instructions
from his lawyer and could make no
statement. He did say, however. that
the manner of wording his report and
that particular information was asked
for Eat an early date" was sufficient TO
prove that it was a preliminary docu
ment
The Cederstrom document, which is
a highly technical one. dealing with
methods of making real estate APP
praisals, calls attention TO the fact that
the city had dealt with the New York
Central as if nothing but real estate
values were involved. Franchise rights
should be considered, he said.
Cederstrom Sees City's Losses
His conclusion is summed up in this
paragraph:
"My conclusion is that the bases
used in the proposed contract are
neither proper nor applicable for the
purpose of arriving AZ the just COM
pensation to the city and the railroad
company for the lands and rights in
volved in the matter, and that the
adoption and application of proper
methods and bases of values would
show very substantial increased sum
in favor Of the city and a decrease in
the sum credited TO the railroad COM
pany."
Cederstrom's recommendation as 10
methods of appraisement are:
To make proper and intelligent ap-
praisal OF the lands and rights involved
from, city zeal estate appraising
standpoint IT Will require a full and
searching consideration of the PROPOSE
tion as whole ana the consideration
Of the effect it will have on state and
city taxation by the contamination Of
this matter.
A thorough. detailed study and
analysis will also have TO be made I'M
der the accepted rules of expert real
estate appraising, such as are ordi-
narily adopted and used in connection
with similar city matters, and a full
consideration of relevant facts and
every element that can fairly enter into
the question Of value of the lands and
rights, with a view of sustaining the
conclusions reached with such factors
as are ordinarily accepted and adj
mitted as being evidences or crtera
OF values in real estate appraising
which will. or will tend to. sustain the
reasonabeness OF the values arrived
at, as well as the methods, bases and
methods Of calculation adopted, and
will tend to Justify the relative i'm
portance that was given TO the facts
and elements which were considered in
connection herewith IN determining
the amount of just compensation to
the city and to the railroad company.
II was due to the city's failure 70
adopt these measures, Cederstrom held,
that vast amounts would be sacrificed
in the dealings with the road. as pro-
posed. Just what these amounts might
be he indicated would be shown in
/ the later report. which, according to
/ his charges, ne was not permitted to
make.
To Make Private Appraisal
liz will make the appraisals along
these lines as private appraiser, how
over. Just how soon his own report
may be expected he refused yesterday
/ 20 say.
Commissioner Whitney's statement
onposing the proposed contract, which
vas issued to show his lack of motive
| for "gagging" Cederstrom, contained
numerous objections to the measure,
chief among them being the assertion
/ that the city has no authority TO use
compulson in its negotiations with the
railroad.