Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1917-08-04
TOINS KJEHNLE FACES
FINANCIAL COLLAPSE
Atlantic City's Former Politicai
Boss Seeks Appointment
of Trustees
DEBTS TOTAL Sl50,ooo
Once Rated as Millionaire, He Loses
Heavily as Indorser
of Notes
DEBTS TOTAL $15O,Ooo
ATLANTIC CITY. Aug. T.

ATLANTIC CITY, Aug. "
Louis Kuehnle, Atlantic Cltys oiu-s,..,s sns
political boss, the man who MADE hu.ui 81,
men wealthy and was stung In turn oy
scores whom he befriendeu, is on '"'
OF financial disaster
After twenty years OF active political
no during fifteen years Of which he Virtu-
eIly owned the big shore town. nah'ls
councllmen and other offlceholders . auu
doing with them as he would, ne cah''o'
pay his bills.
Kuehnle today took the intlatory steps
for the creation of trusteeship OF esei
thing he possesses. for the beneht OF ms
creditors He is willing that, If necessary
everything he possesses shall go to MAKE
good his word that he never cohuacteu
claim he failed to meet. oooo
Kuehnle owes approximately s15o'ooo'
made up very largely OF notes whlch no
signed for men whom he cohsluereu nc
friends. men whom he stood ready 10 ne'p
I'D the ladder. lie owns probably nan a
million dollars worth of property, much
of IL encumbered. how much no one was
able to say today. Ia.
One of the foremost bankers OF the city
this morning said:
"Kuehnle will be able to pay every dollar
he owes and have n considerable compe-
tencv left for his old age IL his creditors
give him the opportunity II they show
the opposite spirit everybody VIII lose
heavily and Kuehnle will be wiped out.
George Ortllp, city overseer of the poor
and Kuehnle's business manager is can
vassing the old boss's creditors today lot
signatures to proposal made oy huennle
himself for the appointment OF Congress-
man Isaac Bacharach and ex-Judge Joseph
Thompson as trustees under an assignment
Of all his possessions.
This document sets forth that the pur"
pose Of the voluntary assignment Is TO pay
every claim against the Commodore dol
lar for dollar, If possible. and If not pro
rata. The Indications are that all OF the
large claimants will assent
INVOLVED BY McNAMEE
. Kuehnle's financial crisis was said today
to have been preciptated by the appoint
ment of n receiver for City Clerk Joseph
A. McNamee. former treasurer of the
Marine Trust Company, which the "old
man" launched dozen years ago when
his political supremacy was undisputed
McNamee invested heavily In real estate
on Atlantic avenue and at Chelsea Heights
just before the real estate depression three
years ago. He found himself unable to
dispose of his holdings. Kuehne tried to
save him by going on McNamees notes to
the extent of $4,000. He probably will
have every dollar of this to pay.
kuehnle retired from the presidency of
his pet bank three years ago after doing
his Bit in the State prison as the goat
in the political cleanup in Atlantic County
Instituted by Governor Wilson. He went
to jail for alleged participation in 5000
600 Waterman contract awarded by the old
water commission, Of which he was the
head. the charge upon which he was con-
victed being that he gave the contract to
the United Paving Company, now defunct
concern of which he was president Six
months after the old easy boss" had been
released ha ntia
or for good behavior, the United States Dis
trict Court for New Jersey held that the
warren Bros. Company. of Boston, was
the contractor and awarded that company
a judgment for $4,000 for extras" This
Verdict was regarded as complete excul-
patton for the contractor Commodore"
McNamee, the city clerk, retired from
the Marine Trust Company year ago. He
Is a past Exalted Ruler of the Elks and
one of the best known fraternity men in
the city
substantial men today said that Kuehnle
owns 'ruily half million dollars worth of
property, encumbered and clear. II forced
under the hammer it probably would brjnp
little more than the total of his obligations,
The famous corner" Kuehne's old polit :
lcai headquarters, is mortgaged for $ll5,.
oVo. The Commodore was offered $500. OOo
IN cash for 1t ten years ago when the
Pennsylvania Railroad wanted the prop
sale the corner probably would bring
$4,000 'i''e
lie owns also the Quaker City Hotel.
io,hleriy conducted by his old lieutenant
Johnny Mahoney, now a member of the
Slty board or Assessors. a business block
worth proDably $4,000. adjoining City Hall,
Where ne has his modest home in a fiat over
nus business office. He has title also to
tne Royal Theatre on Atlantic avenue below
New YORK avenue. Taxes assessed against
tnese properties In 1915 still are unpaid and
advertised to be sold on August l6. KuehnIe
owns also small stores and tenement houses
In various sections of the CITY, most NJ
which return dividends
ONCE RATED AS MIIIIONAIpr
Fifteen years ago Kuehnle was reputed
10 De worth "a cool million" He bu,lt n
brewery and 1t was said no man could aos q
d Incense unless he took Kuehnle beer He
obtained q franchise and built a telenbone
company, smashing local monopoly bv re-
ducing the rates and getting out Of tha
game at loss He also built the CENTRAL
taiiway line under a council
manic franchise and lost money on n
Then he went into the gas business 70
break another monopoly The old oo,,,s, "
was charging $l.50 per 1000 feet, Kuebnia,s
company offered light and fuel for n,nn,'
cents. The old company cut the nrIca ~
nfty cents. and both were glad To sell out
aiter they had exhausted their funds IN ~.
disastrous fight. N'us III
kuehnle also started central hot-watsr
nottamss s cVhnpany ,hny TO heat hotels, stores and
couases through maips in the streets, Tbs
wooden main he put In did not work ana me ne
company lost most OF its patrons '' '"'
Ihen another syndicate took over ,ha
proposition. put in new piping ana Isen M the
prohtable thing out of the venture, MAUI d
s.n u.mn'es was rs. great weakness, his intimates
m
be his friends P'e'ehoed TO