Q-Then if we only paid $6,600 ?
A-You were under-rated.
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Q-You are acquainted with the schedule; it has to be filled in by Mr. Howard, and all he had to do was to put in the capacity of the Godowns; is that
not so?
A-Let me explain. I may say that I sketched this schedule myself. This is Form A [pointing to schedule to Ordinance] and the Assessor fills up column. No. 1; he dates it and signs. at the top, he fills out the number and name of the Street, the number and description of the Lot; and the Owner, or Keeper to whom this is addressed has to fill in the rent received, and also the distinguishing name of the tenement. He then has to give the name of the occupier and fill in the tonnage capacity. When I say rent received, I mean total rent received for the current year.
Q-That is all ?
A-That is all.
Q-All he had to fill in was the tonnage capacity; there was no rent paid?
A-Yes.
Q-The Assessor filled it in year after year
A-Yes; but the Assessor is not bound to do so.
Q-And, according to your own showing, the rental in 1895 was $10,800 ?
.A-Yes.
Q-When you first assessed it at $6,600, what did you think was the capital value of the property?
A-When I first assessed it in 1887, I did not go into the value except for the purpose of assessing the premises.
Q-How did you arrive at $6,600 ?
A-I do not know in this individual case, but the course mostly pursued by me was-I took the rent in other cases where rent was being paid; I communicated with Mr. Howard, and told him what I considered 1 was going to rate the property at, and he asked me how I arrived at it. I told him I had taken the capacity of similar Godowns in the immediate neighbourhood, and the rates they were paying where rent was passing.
Q- -Did you know that the property has been valued at $101,000 ?
A-No; the capital value of the property never came before me at all.
Q-You have a very great experience in valuing; can you not say what was the value of that property in 1887 ?
A-I cannot express an opinion.
Q-I will give you some data; the land cost $65,000 and the Godowns cost $36,000; the land was bought in 1884 and the Buildings were completed in 1887 ?
A-Cost has nothing whatever to do with value; they are totally distinct. I have known a property to cost so much to-day, and within 12 months it has been double the value.
Q-What is the general tendency of property here?
A-Progressive.
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