Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-03-18

, from the park commission what lands
will he needed in connection with lts
program for park development, Guy
Identification and playground eStap-
lishment in the National Capital and
| IN the metropolitan district, and when
are in danger of being destroy ed, ana
! also for which the commission does
! not have money with which TO pur-
! chase During this period OF SLOW
| thriving appropriations the new cor.
DoIation will purchase the LANDS ana
! hold them until the public money pe-
| comes available and then turn them
! over to the Federal Government at
/ the price at which the corporation
| purchased them, plus per cent IN
! terest taxes and special assessments
| any accrue.
| Realty Operators Barred.
The plans and machinery for the
| organization have been worked out
! 70 the most minute detail. and the
| only serious problem which confront
ed the body was to ascertain tndt
every avenue of criticism would
be closed to any directing suspicious
finger at the motives of the corpora
ton in such public spirited work.
AS one of the details in this effort,
the directing heads have decided that
no real estate operator will be allow
I'd as Il subscriber to the stock.
Within 10 days the corporation will
hold its first meeting under the artl-
Giles OF incorporation for the purpose
Of electing officers, and the hope was
expressed that John Barton l'ayne
would be prevailed upon to become
president. because of the great reputa-
ton he has for directing great move
ments with paramount success.
There is only one dark cloud now
lowering over this great civic move
ment. 1t is the provision in the Dis
trict of Columbia appropriation bill
now pending which would prohibit the
Park commission from purchasing any
'ands in the District of Columbia for a
price greater than % per cent more
,, than that for which the property is
assessed by the assessor tor the Dis
trict of Columbia. When Mr.. Moses
was asked if this provision would at
feet the new corporation he frankly
stated that it would kill it. because it
would mean that the pubiic-Spirlted
citizens who put up their money tc
hold the property would have to do sc
at such Il great loss. 1t is 20 recog
nized fact he pointed out that prop
erty is advancing so rapidly in the
District that the assessments do not
represent anything like the real value
and no property can be purchased al
| the assessed valuation. or even at :.
per cent more than this. For instance
| taking a concrete example of how the
matter would work out with such q
| provision.
Would Eat Up Capital.
Should the corporation take over q
| piece of land needed for park pur
| poses at $4,000. which might be con
! sidered to be a fair value by appralse
/ ment: if it should be found that this
| land was assessed at $500, all the
| corporation could expect 10 get from
| the Government would be $3.50. or !;
! direct loss of $3.50. and this would
represent "a com aratively small piece
| of ground. The capital of the organi
| zation would be eaten up in little
! while.
The corporation is capitalized fol-
nearly as much as the park commits
sion is supposed to have each year
! but which it has never had since its
| inception The organic act provided
| for an appropriation each year of az
| amount equal to l per cent for eacl
inhabitant of the United States, which
according to the last census, should
give the commission S1.100.000 an
nually. But it has only had one $500.