Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-01-13
Title Not Clear
|ToLand Offered
State for Park

BALTIMORE, Jan. 10 To-
Leon Alderman. Washington
lreal estate promoter, acknowl-
lodged yesterday he does not have
clear title to $40 acres. on ASA
league Island which he offered
to Maryland last week as the
Isite for a State Park.
Mr.. Alderman has sold thou
sands of lots on the wild. mac
cessible island which lies in
1.-THE Atlantic OF the Worcester
County shoreline below Ocean
ICity. Md. -. 49,
| His testimony about the park
lsite came during a Public Service
Commission hearing on the plan
lof the Assateague Island Bridge
Corp. to build q private toll
bridge across Sinepuxent Bay
from the mainland to the island.
Daniel B. Brewster, Baltimore
County legislator and attorney
for the Cecil Amusement Co.,
told the PSC his client is really
the owner of a large portion of
the tract Mr.. Alderman offered
to the State.
| Valued at S3.5 Million
Involved in the dispute are
some patents from the Mary
land State Land Office. The
park site is part of 668 acres
Mr.. Alderman ostensibly bought
/ from the State five years ago for
$4,000. Recent valuations on 1t
have run as high as $3.5 million.
| Mr.. Alderman told the COM
mission his investment In the
Ocean Beach development on
the island now stands at about
50 $50 900, including $3.50. 900 in
advertising costs.
Il have a moral obligation to
push for construction Of a bridge,
and everybody knows it." Mr..
Alderman told the commission
II am not a human or a Chris
tan If / do not make every effort
to get this bridge so that the
people who bought property can
get to their property"
The only connection between
the mainland and the island is
a two-car ferry.
Assateague Island Bridge
Corp. made up of lot owners,
presented to the commission an
intricate plan for financing a 81
million bridge.
/ Confident on Financing
! Gerald J. O'Brien, secretary of
the Ocean Beach Club, which
owns all the common stock in
the bridge corporation. said he
is confident It will sell more than
| 100000 worth Of preferred
stock. .
| 1t expects to get another
100000 through the sale Of
property donated by Mr.. Acker-
man.
John A. Luetkemeyer, q vice
president Of the Equitable Trust
Go. of Baltimore, said his firm
lis ready to lend 5000, 900 on the
bridge for 10 years at S per cent
interest il Mr.. Alderman will
pledge his assets as security and
the sponsors meet several other
conditions.
! Robert c. Walker. engineer
hired by the corporation. has
lIagreed to make $4,000 in cash
!, available in return for 100000
worth of preferred stock and a
$4,000 engineering fee.
S5oO,ooO Loan offered
! Bernard S. Glassman. Wash
-Iington builder, said the Colonial
mortgage Co. of Washington
Ioffered to lend the bridge cor
poration 100000 in return for
1.-THE right to finance the con-
struction of new homes on the
island. ~.
This offer was contingent on
commitments for the building of
lat least 300 prefabricated houses
costing about $500 each.
i At the start of yesterdays
hearing the State Roads Com
mission, the Department of For
,Iests and Parks and the State
! Planning Commission Joined in
asking the PSC to delay any de-
. cision on plan for financing the
bridge.