The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-01-22

When the hearing OF the petition came
m before Judge Moore yesterday William
n. White appeared In behalf Of Mrs. Yes
Ter and the Indiana heirs. and Harold
Preston represented the other heirs The
various creditors were represented by G.
p Hughes. Maurice McMicken and Dom
worth & Howe.
Legal Fight Opens.
Harold Preston opened the legal fight by
.nterposing three objections 10 the court
granting the petition TO sell. His objec-
tons were that the court had 10 jurisdic-
ton In the matter. as the parties fling
the petition were not actual creditors OF
the estate, and that the petition from the
creditors was no, in order because since
the fling O. the petition the admiaistra-
tors had pesitioned to sell certain real es-
tate. William II. White in behalf OF the
ofher heirs entered the same objections.
+. C. Hughes IN answering stated that
while Messrs Backus and Chaplin were
not actual creditors, the banks In wnicn
they are officials are creditors He fur
,hsr stated that the petition filed by the
administrators provided only for the sale
Of a small strip OF land bordering on the
Sarah r. Yesler donation claim. and was
for the purpose OF clearing up title and
nat 10 nay off the Indebtedness OF the es-
tate He said that the committee present.
ed the petition simply for convenience.
and that they had power OF attorney
from the majority of the creditors.
Judge Moore stated that the court could
not be too careful In deciding questions
involving the title to property. HIS opin-
ion was that IL was not necessary for all
Of the parties interested TO verify the petit
ton: that the petitions were sufficient and
that the court had jurisdiction In the mat
ter. he oyerruled the objections on be-
half of the heirs. but allowed their atsor-
neys 10 enter exceptions. Judge Moore
further said that the filing of petition
for sale OF real estate by the admins
traitors of the estate did not deprive the
court or the right to proceed on the petit
ton OF interested parties previously flied
or deprive them OF the right OF hearing.
He stated that he could see no reason
why the title would not Re good II the
sale was properly conducted
Enormous Property Holdings.
Then came the reading of the petition.
which recites IN detail the way the Yesler
estate has dwindled since the Old pioneer
died five years ago. While MIR. Yesler
had enormous property holdings, he was
deeply IN debt when the big fire tenn
porariiy snuffed out the life of Seattle.
After the fire he had 10 mortgage his
downtown" property TO build the Pio-
neer building and the other brick blocks
OF The estate. After his death the APP
pfaisers found property which at that time
Was worth considerably over Sl0oo.ooo, bat
which is now said to he worth only lit
tie over s6t9.ooo The rents bring In near
Is $1,000 i month.
The petition filed by the creditors first
sets forth the liabilities of the estate.
which amount to s5l7sls59. The biggest
indebtedness OF the estate is the ss5a. 900
mortgage held by the German Savings &
Loan Society which covers all OF the in
compromising property and bears inter-
est at ? per cent. Then comes the I'M
paid claims. amounting to sll2. s6l. %. and
on which So. CESS interest has accumu-
lated. Delinquent taxes With interest foot
up tc sii2.s23.5s.
Then comes an interesting statement as
to the manner Ia which the estate has
been eating itself up by paying the cost
Of administration. widows allowance
and interest. For 1875 the monthly reve-
nue. OF the estate was s2.sil.o9 and the ex-
penses s6.iia.sl. making an annual deficit
of Si0.oe3-50. For the FRS nine months
Of 1877 the deficiency was siSTssss. AL
though the income OF the estate has in
creased 10 S2u per month. the estate
would run behind some $4,000 for the year
ISIS.
The difficulty over taxes IS explained in
the next section of the petition. There
are no funds available FOR the payment of
back taxes. Some or the property is
about TO be sold At tax sale. Under
terms az The mortgage Il can be foreclosed
II the taxes are not paid. aud the estate
Is In danger OF losing the valuable prop
eFty il covers. II ,ais property should he
lest. the remaining portion of the estate
With about Ssuaa In delinquent taxes
standing against H. would not he SUI
Recent TO pay the valid Indebtedness.
Appraisement Too Utah.
The petitioners ailese that since the es-
tate ~es appraised the value OF both real
and personal property has decreased.
They consider thar the resi- property
which was appraised az nearly S.1ee zoe
Is not pow worth more than seo0.0oo ana
That the personal property. once worth
81 ooo. could nor az the present time he
given a valuation Of more than sfa GO
This personal property consisted princi-
pally Of noles. which would have - D.,
compromised il collected AZ al.
Judge Moore stated, after The uetltlon
had been read and the facts admitted by
The attorneys representing the various ln-
terests. that The estate could rot 30 on a.
It had been. lie e0ula see no way out q;
ii bat 90 order the real and personal prop
eFt, sold. Then fhe attorneys represent.
sag the htes bad more objections 10 offer
They objected 20 the whole proceeding.
They asked .aat the sale oe deferred. a:
property vaines were on the Increase and
iatY claimed that II was simply q move
on he part of che creditors In freeze OUT
Mrs Neslee and the other heirs fer thei;
own benefit. They stated thar A synai.
cate bad been formed 10 hay in The prop.
ersy severed by ;he mortgage. and that
tne creditors wonld have a monopoly or
ths h'i,lns. as 1he blanket mortgage Gov