Salt Lake Telegram | 1926-12-27 | Page 8 | Land Declared Valued Too Low

lAND D DECLARED lARD m lOW LO F Former orme Assessor ParSOns Parsons Parsons Par Par- sons Testifies in l' l Ne' Ne Newhouse New New- w I house Realty Suit Testimony by former County Count Assessor Assessor As As- sessor gessor A Aj An H. H Parsons regarding the value alue of the land between State street and Cactus avenue and Fourth South and Exchange place and by b Harvey Hane B. B Scott of ot Scott Welch architects asto asto as asto to the value of the building featured featured featured fea fea- the the hearing Monday mornIng morning morn morn- Ing before Judge William M. M McCrea McCrea Mc- Mc Crea in the Third district court of the action In which the Newhouse Newhouse Newhouse New- New house Realty comp company ny Is attempting attempt attempt- ing to break a contract with the Intermountain Electric company The contract one entered Into between the two concerns June 4 1915 under which the electric company company com corn pany leased Jt Its present quarter quarters from front the realty company for a period of 10 years ears at month monthly I rental with the option of renewing renewing renewing renew renew- ing the lease for five years at atthe atthe atthe the expiration of the year ten-year pe pe- pe nod After Arter Mr It Scott had given ghen it as his estimate that it would woul cost approximately to re reproduce reproduce reproduce re- re produce the building under present wage scales and prices of materIals materials mate mate- rials the former assessor took the stand and under questioning by Attorneys M. M I. I E. E Wilson for tire plaintiff and C C. C C. C Parsons Jr for forthe forthe forthe the defendants testified that thereal the thereal real estate involved has has' been for years assessed at an atrociously low figure He declared that in his opinion the land and Im Improvements irn- irn involved would total tota about in value of which I approximately J iOU Would be beland beland land and building value J. J A. A I Waters Vaters of the realty company company com corn pany occupied the stand for a few moments when court opened but was temporarily excused in order to permit Scott and Parsons to take the stand Court recessed at noon to convene again at 2 6 A