Perth Amboy evening news., 1911-06-03
WILL SET ASIDE
PROPERTY SALE
Kuhn Estate in Woodbridge
Be Sold Piecemsal.
speo,al 10 the EVENING Jews.

gpec{uJ to the EVENING YEWb.
New Brunswick, June S:-Former
Judge c. F~Cowenhoven Won a hard
fought victory in the county orphans
court yesterday AFTERNOON when he
succeeded in securing an order from
Judge DAILY to have the sale of the
property Of the late Joseph Kuhn, of
Woodbridge township, set aside.
This matter has been in the court
for several weeks and there were
severaf-hearings upon it. Judge
Cowenhoven produced conclusive
proof to the court that by setting
aside the sale and having a resale
of the property, at least $1,000
would be added to the assets of the
estate
Joseph Kuhn was a banker at
Woodbridge, doing a large business
with the foreign people of that com-
mupitY in forwarding money to the
old country and in keeping their
banking accounts. He acquired con-
siderable real estate in Woodbridge
and, in the course of business, he
borrowed Money on his property
from a building loan In this city.
Then he had business difficulties; dis
appeared from his home and shortly
afterward his dead body was found
In a New York hotel.
His daughter, Mrs. Elizabeth Nick
elsky.. was made Administrative Of
his estate and she secured an order
from-the court to sell the real estate
of the deceased to pay his debts. This
real estate consists of a hotel prop
erty and a number of building lots
in a section of Woodbridge township
used as a home site for men who
work in the nearby manufacturing
plants. The local loan held a couple
of mortgages, amounting to $13,500,
on the property as a whole.
Property Sold in Bulk.
When it came time for the sale a
number of people who had antici-
pated hat the property would be
sold as building lots, piecemeal,
were present looking for bargains.
But Joseph E. Stricken, counsel for
Mrs. Nickelsky, announced that it
would have to be sold In bulk, owing
to the mortgages upon the property
as a whole.
The property was sold at public
sale to Michael Elias for $500, or
$4,000 above the mortgage claim,
leaving $4,000 for the creditors of
the estate. Mr.. Elias was a former
partner OF Kuhn.
Some of the small creditors pro-
tested to Mrs. Nickelsky that the
property would have brought more
If sold piecemeal. She needed their
complaints and refused to sign the
report of the sale. Her counsel then
withdrew from the case and she re-
tanned Judge Cowenhoven to look af-
ter her interests. He took out a
rule to show cause why the sale
should not be set aside. claiming that
the property was worth $25,0 and
that the sale should have brought
lore money.
Large Creditors Satisfied.
C. C. Hommann opposed the re-
sale, he representing Mr.. Elias, the
purchaser. He pointed out hat the
Perth Amboy National Bank and
other large creditors, were perfectly
satistea sa+e--tbat it had
been conducted legally and honestly, /
and that the best price obtainable
had been secured.
Judge Cowenhoven yesterday de-
voted his energies to proving to the
court that a larger price could be Sc
cured for the property II 1t was re-
sold. His star witness was Joseph
Lefkowitz, who swore that he would
give $1,000 more for the property
than had been secured and he offered
to put up a certified check of $500 as
guarantee of good faith.
This offer meant that the credit
ors of the estate would get $4,000,
instead of $4,000 from the sale, and
1t was this testimony which caused
Judge DAILY to set the sale aside.
VIII Help Poor People.
Mrs. Nickelsky believes that eve
a much larger sum will be realized
from the sale of the property. Ar
rangements will doubtless be made
so that the property can be sold
piecemeal, so that the largest sum
possible is secured for the creditors,
most of whom are poor people who
had entrusted their savings to the
banker. Mrs. Nickelsky Is anxious to
pay them back dollar for dollar, with
interest, if possible.