New-York tribune., 1876-09-05
LOCAL MISCELLANY.
!. REFFREYs pIFFICULTY.
COMPLICATED CONDITION OF THE GERMAN PRESS
SOCIETY.

COMPLICATED CONDITION OF THE GERMAN fhESo
SOCIETY.
Richard s. ROsenthal, the Receiver appointed
IN the suit of Jacob Zes against the German Press
soe,oty has fled long report in the County ele'As
office setting forth his difficulties In diseaarg ais truss
aud asking directions from the Court The following
th substance OF his report When he took Charge No
,ound that the society owned piece OF real estate on
Fraukfortst ami owned types, presses, &c, ana was
running two newspapers In New-YorA, the other IN
Brooklyn. It's personal property was worth between
$4,000 and $4,000 For three weeks after ne TOOK pos
session he continued the papers at loss OF ABOUT
$500 week he found the real estate ineunl
bered with three mortgages, amounting to about
$5oOOO-of which the third. amounting to Sill
OOo was only collateral to notes held by
firm Besides this there back taxes ana DacK III
terest chargeable the real estate Tnere were us
found about $5S 900 of debts OF which about nan was
due to stockholders the society He found that hcre
had been cOuceament of the condition OF the society,"
and put in communication with the stocAhoiaeFs
who appointed committee to meet him. They repre-
seuted that an exposure of the msmanagement ana mis-
appsooriaton the funds would bring great scanGai 10
tie religious sect the organs of which the papers "eie
and wonjd reflect upon the clergymen and Others VINO
had induced large number OF people III very moueT'o
circumstances invest IN the STOCK OF the concern Od
der these ercums tances arrangement WIS mace pl
which the committees were 10 TAX the stockhoiuels 80
per cent tine debts due stockholders were 70 DC
TO lie provided for the committee were 10 bo on 1t e
taxes and eXyenscs estimated at $40OOO, ana Tue per
sOna property, Including the good wl was 70 DC sou az
nominal price, be the basis OF rcoigdnizab'oh vi inc
company. -, = "a .no raol
estate for sale at public auction, and one kdder led
ing of tine committee, Did S4O,ooO: Hc opSyttseu ts
that this not enough, but the committee assured MN
fhey would take care of balance, ana ne nnay uT
ceted H. signing contract with one hehIy iiduseI
mann. Tho personal property was kn0cAcd uoWh 20
Berard Amend fOa 5000 Tnis and 10 per cent on inc
sale OF the real estale amounting In all 10 @5,ooV was
paid him. All that been done, he says, toward cO-
neting the promises the committee Is th&s some o Vne
LodeIs bai claims have ndOrsed on them that
fhey viii DE released aud DISCHARGED ON the making O
the arrangement proposed No taxes ana NO lu.eiSst
have Deen paid. Tue $I1 900 third mortgage nas not
been pad One Thomas NJ. Wyatt, as assignee OF hiu
seIuann has called hm deed QI tue re esCte,
and aauselmann insists tnat ne bought 1t as spccu.
tlou. lie has allowed Hausclmann and Amend 20 20
INTO POSSESSION of the property. he IL inlOneu tat
they have collected OF che 20 per cen contemplated sew
era thousand dollars from the s,OckOlaeIs Dut Ill pEce
OF applying to tAe debts have eqanucied IL III CARR
ing on the papers. OF $9O1O nceYtd Dy mn, ne
has paid expenses noary 4I,ooO, ana ls now
pressed for return OF tue 10 per cent bio Dy hdusei
nann and under these circumstances ask the ADVICE Oi
tie Court his uture course, whether 10 felhe pos
session OF tue property and sell 1t again " pdDile aeO
or take some other process