Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1913-02-05
FIGHTS SALE OF
BEATTIE CORNER
Property Situated at 1870
Broad Street Sold by
Sheriff.
CHARGE CONSPIRACY
TO KEEP BUYERS AWAY
Former Judge Davis Objects to
Confirmation by Vice
Chancellor Stevens.

objection to confirmation of the
sale of land at 724 and 726 Broad
street. known as the Beattie corner.
was made by former Judge Thomas
A. Davis before VieeChancellor
Stevens today. Incidentally, MIR.
Davis sought to show how an effort.
lasting many weeks, had been made
in Newark business circles by repre-
sentatfves of a prospective buyer to
keep the price down. These repre-
sentatives, he declared. spread
runor around that an offer of $780,
900, S150.000 more than what the prop
erty actually brought, had been made.
and that real estate men were fright
ened at the large figures and did not
attend the sale.
Decision was reserved by Vice
Chancellor Stevens.
The objection was taken by execu-
tors of the late Simon Seheuer's es-
tate. Jacob Roth. Selig Scheuer and
Moses Scheuer, on the grounds that
rrhe price paid for the property at the
sheriffs sale on January "A Is made
quate to satisfy the liens against the
land. anu that it does not represent
the true value.
Bernard Katz, a father-in-law to
Frederick Scheuer, bought in the
property for 100000, subject to So
S7s debt for back taxes. and mort
gage held by the Prudential lnsur-
ance Company for $4,000. 1t was
declared in the objection that the
reason for the application was be-
cause all the assets of Fred and Al
bert Schener. the owners, are in the
hands of trustees in bankruptcy, that
the estate of Simon Seheuer is owed
over $500. 900 and gets nothing out of
the sale, that the selling price Is less
than the market value. and that
financial conditions at the time of the
aale were not conducive to active bid
ding.
Lena Apfelbaum one of the legatees
of Simon Scheuer's will. also filed an
objection, on the ground that another
sale will bring a higher price and
leave surplus for distribution
among the creditors. John c. Eisele
and Philip Lindeman are receivers
for the Seheuer brothers.
MIR. Davis tried to prove that the
value Of the property was much
higher than it was sold for, and
called Frederick Scheuer to the stand.
lie said he had been asked by Abe
Feist. of the real estate firm of Feist
& Feist. if he would accept SSOoOoo
for the property. and he declined Mr..
Feist referred to Isadore kalish, who
had a party in Jersey City willing to
paw that amount, he declared.
Mr.. Feist was called and corrobo-
rated Mr.. Scheuer's statement that he
had been offered $500, 900, but he could
not give the name of the Jersey City
man. He declared Kalish said he
could get $1,000 check to bind the
bargain. When the sheriff's sale was
held. this man was no longer In
terested Mr.. Feist declared.
Mr.. Davis asked about the alleged
attempt to keep down the price at the
sheriff's sale.
Were you not told before the sec
ond sale there was no use going into
4 pool for anything less than s25O,OOO
because Mr. Katz was going up to
that amount"
II heard that there was a rumor.
but ] don't think there was anything
TO it,
This point was taken up later by
Mr. Davis, who introduced several
afldavits that the rumor had been
circulated and had kept away people
who would otherwise have attended
the sale. Tt was current report in
financial circles that Mr.. Katz was
prepared to go over $3.50, 900, and sur
prise was manifested when the prop
erty was knocked down at so low
figure. Leon Felst. another real estate