Morning journal and courier., 1888-12-15
rHEEL1JAHGrLBERr ESTATE.

DeveIOPmenta-An Hm-
 portant GlaIm-Vyin Every Dollar Be
 Paid q-The Elm Street Real Estate
 VIII That was Never S1gned-mr.
 GiIbert's Indebtedness.
 Last evening some interesting points were learned with reference to the property of Elijah Gilbert, the grocer corner of Elm and Church streets, whose property is now in the hands of receiver for the benefit of his creditors. The common impression afoat that the estate will not pay the claims of the creditors is not shared by Miss Austin, the estimable lady, who is niece of MT. Gilbert, and at whose house he resides, as she has stated this week that every dollar of MT. Gilbert's indebtedness will be paid. This statement is known to prominent creditors and other prominent New Haven gentlemen, and importance is attached to it as she is a capable business woman and is supposed to be thoroughly converssnt with the financial affairs of her uncle. This lady received as gift during the lifetime of her father, the late MT. Austin (partner of MT. Gilbert for 30 many years) gift from her father of the valuable real estate which include the Betts & filling feed store building corner of Whitney avenue and Grove streets, the house
 
 on Whitney avenue adjoining the feed store as far as Barnum & Roots shops. When her father died, of the property left by deceased, part went to Miss Austin and the rest to the widow of her brother, the late E. Gilbert Austin. A will was found among the papers of the father which was unsigned, which, had it been signed, would have given the sons share to him for life use only, and at his death it would have gone to the heirs. There was no signature, and whether the testator changed his mind or was cut off by death. with a defeated purpose in mind to sign it, is mystery which cannot be solved. Miss Austin is joined with her uncle in the $3O, 900 blanket mortgage, which was exe- cuted to the New Haven Savings bank on the very valuable Elm street real estate, cor ner of Church Opposite the J. B. Sargent mansion), which real estate was formerly owned by the partners, Austin & Gilbert. The Austin share in this real estate was tak- en by Miss Austin, she preferring this divis- ion and letting valuable interest paying stocks, bonds and other personal property go to the other heir. Mir. Gilbert at first tried to get $50, ,000 mortgage from the bank on his undivided half of this real estate, but the bank wanting more security, Miss Austin joined in the case and the mortgage was placed on the whole. It is presumed that she holds notes to secure her for her accom- modation in the case. which notes must go HI WILL bu6 OI Iu0 Otu6T Or6QllOTSs But the real estate is undoubtedly ample for twice the mortgage amount. as it is 135 feet front on Elm street and 11S on Church. It includes the double brick house of which Dr. Cheney occupies part; and estimated at 8 very low valuation this real estate is worth with the double house, from $50, GOO to $60,- 900. The corner is splendid corner for a hotel or fine apartment house, commanding as it does so fine 8 view of the public square, Chapel street, the churches on the Green, the colleges and the old State House thrown in. MT. Gilbert when asked once his valua- tion of the Elm street land, and if it was worth $500 front foot, vigorously exclaim- ed "Yes, $600 foot" The valuation of the property above given puts the land on Elm street at less than $500 front foot. Mr. Gilbert lies at his niece's very weak and much broken in health, which at his age does not warrant any sanguine hope of his return to health again. The property of MT. Gilbert at the death of his partner was com- monly supposed by good judges to be worth s200, ,000. His partner left about $90, 900. Miss Austin beside the mortgage account is a creditor against the Gilbert insolvent estate for SIS, 900 or $19, 900 in notes, but whether these are independent of the mortgage trans sections is not at present known. The ap- praisers of the estate meet tonight at the Gilbert store to appraise the value of the goods in the store-as the first step in their official duties.