Arizona weekly citizen., 1894-01-13
THE zE0KENDoRF CASE,
An Important Decision in the Mat
ter OF Hugo Zeckendort ct al
VS.. l.. Zeekehdorf.

VS.. l.. Zeekendorf.
On Saturday last Judge Sloan render
ed an important decision in the matter
of the settlement of the account of
Louis Zeckendorf as guardian of Aaron
Huge Zeckendorf and Helenita Zecken-
dorf, the children of his deceased
brother, Aaron Zeckendorf
The facts in the case appear as fol-
lows: Mr.. Louis Zeckendorf was ap-
pointed guardian in May, 1873. He
| then had some four thousand dollars in
cash, and sixteen thousand dollars of
the promissory notes of William Zecken-
doTf and The Jdore Welisch, all of which
WAS the property of hi' wards All of
these notes were paid when due except
notes to the amount of about seven
thousand dollars. AS William Zecken-
dorf and Theodore Welsh had
gotten into difficulties and there was
danger of these remaining notes
never being paid, Mr.. Louis Zsckendorf
assumed the payment OF them himself
make an arrangement with William
Zeckendorf whereby the business of
William and Welisch (who then were
partners in business at Tucson) was
wound up by Welisch retir Lg from the
firm, and by Louis taking an interest
in the business equal to the amount OF
the unpaid notes. This all hapl ened in
1873. From that time on Mr.. Louis
Zsckendorf has accounted TO his wards
for the full sum of twenty thousa d
dollars as so much cash, with interes.
thereon at the rate of seven per cent
per annum compromising annually. He
claims that ne has always had the
money or his verbs IL vested IN New
York, and that none OF t vas ever IN |
vested IN the firm here at Tucson.
The wards, Aaron Hugo Zeckendorf, |
and HIS sister we're not satisfied, however, |
with merely receiving twenty Thousand |
dollars with compound interest at the |
rate or seven per cent per annum from |
1873. They asserted before the court |
that al their money bad been vested in |
the business of Zeckendorf Brothers and |
Its Successors l.. Zscke ndorf Il Co. and |
they wanted the profits of-the alleged |
investment, claiming that their share of |
profits now amounted to over q hundred |
thousand dollars more than the amount |
that Mr.. Ieckendorf has already paid /
them.
Judge Sloan decided Saturday that |
all the twenty thousand dollars never /
Was invested in said firm; ttsf the |
transaction Of Mr.. Louis Zecendorf, 10 |
regard to the unpaid seven thousand /
dollars Of notes, did amount to an in |
vestment OF that sum III the firm of
Zeckendorf Brothers; that as this in /
vestment was made as matter of |
necessity and in order 10 prevent totai /
LOSS q the notes, and rs an accounting |
OF thBt Investment would be imposs ble
ar this DAY, MIR. ZeckendoTf should be
charged with interest on that sum st
the legal ra5e Of interest then in force
IN Arizona, that is ten per cent per
aunum compoundipg annually; the
otner thirteen thousand dollars remains
as already accounted Tor Oy Mr.. Zee
kendoEf.
Mr. Selim N. Franklin, GRE of the
Attorneys for Mr. Louis ZeckendOrf !
was interviewed by the CITIZEN reporter
as 70 The effect CT the decision. Mr..
Franklin said:
"The decision a. Toe court amount TO
5hia: ave have already paid these wards
50is seven thousand dollars with com
pound interest at the rate of seven per
cent per ennum. The court says We !
must pay them interest on this sum at
Yhe rate OF ten per cent per annum, or a
Inference of three per cent per annum.
Nlr. Zecseniorf shows on his account
hat be has already paid to Mr.. Hugo
LsckeDdorf great deal more money
ban he vas e. titled to, and most of
ms additional three per cent on seven
.-sasaud dollars will on IN renav this |
)vercayment. The rea aiming thirteen
dollars stands as before, that
g, bears interest at the rate Of seven
ilready eccQunted.
We consider" said Mr.. franklin,
he decision a very important and sub
tantal victory for our side. The
Yards claimed that Mr.. Zeckendorf
would have to account to them for at
east one hundred thousand dollars
more than he has already accounted for,
nd not only that but they wanted 10
10 declared partners in the firm Of l..
LeckenC o S Co. Judge Sloan's deci-
i n is adverse To this contention. The
Yards lnse the main point liz the litiga-
ion. / can say thu Judge Barnes, who
: associated with me in this case, and |
,ur cliert. Mr.. LOUIS Zeckeudorf. are
atistied with the decision, and consider
&c nave won an important victory.
The wards would hava received more
nopey than this additional three per
eot will amount to, if they had been
srisIied with the seven per sent interest
hat Mr.. Zeck endorf has always allowed
lem, and had settled the matter with
ut litigation