The Waterbury Democrat., 1939-08-11

Alderman Burton Walker Repub- lican, member of the aldermanic land committee which recommended the sale of the American Ring Co.,. property for $20000, declares in a letter to The Democrat today that it is the boards policy not to re- quire posting of 10 per cent de- posit by any established and reli- able business firm. The letter is in explanation of statement he made in superior court at Bridgeport Wednesday afternoon that the al- dermen ask for deposits in some cases and not in others.
 Sale of the former factory prop erty is TOW held up by an injunc- ton issued by Judge Carl Foster at Bridgeport on application of Benja- min and Sylvia Baurer, real estate brokers, who complained that the city last year rejected an offer of $21 ,375 for the land and buildings. The offer was made on behalf of an unidentified client. now said to be Frank Pope, local wholesaler. At - Wednesdays hearing, MT. Baurer admitted that he was not taxpayer. Judge Foster, in granting temporary injunction, declared he was doing so in the interests of the city of Waterbury and not for any individual.
 Following is Alderman Walkers letter:
 As the writer feels that the pulp lished accounts of the temporary injunction granted by Judge Foster restraining the city of Waterbury from selling the so called Ring Co.,, property were far from complete and might lead to false impressions the following statement is submit ted.
 The committee on land of the board of alderman has the power to insist on deposit of 10 per cent of any bid submitted. This deposit is not required from any local re- liable concern or individual such as the Waterbury Farrel Foundry and Machine Go. It is required when bid is submitted by an individual who is not property taxpayer in our city such as MT. Benjamin Baurer. This deposit is required because this committee spends con- siderable time on these bids and feels that they have right to make certain that the bidder is sincere.
 AS stated by Judge Foster the in- junction was granted not on the testimony of MT. Baurer but in the interest of the City of Waterbury.
 The writer knows that the price bid was low but any one who felt that this property was tremend- ous bargain had an opportunity on three occasions to bid on the same at auction and could have submit- ted bid to the board of alderman any time during the past year. I think that any property owner that desires to sell his property today realizes that what he will receive will be far below not only the as- sessed valuation but also what he thinks it is worth.
 The committee on land felt it would be unwise to hold this pro- perty any longer than was abso- lutely necessary as 1t constitutes the worst type of fire hazard. These buildings some of which are wood are four stories high, many years old, oil soaked, no sprinklers and no watchman. At the present time Bank street is closed in front of this property.
 Should a fire develop in the writer's opinion 1t would take long to control and both the Waterbury Farrel Foundry and Machine Go. and M. J. Daly and Co.,, might be badly damaged and throw many employees of these concerns out of work. For this reason it is hard to agree with Judge Fosters opinion that in the interest of Waterbury this sale should be held up.
 MT. Larson had agreed to take immediate possession in which case the sprinkler system would be re- stored and the Waterbury Farrel Foundry and Machine Go. had stat