The Waterbury Democrat., 1946-05-24
FinkeLstein Praised
 ForReceiUersI1ip Task
Formal Dissolution of Industrial
 Properties, Inc., Ordered; Balance of Cash Assets Goes to Receiver for Work
e Attorney Alfred L, Fink

Praising Attorney Alfred L, Fink lestein for his devotion to his task'' as receiver of the Industrial Properties, Inc, for the past six and . half years, Superior Court Judge Edward J. Quinlan today ordered dissolution of the receiversfip, dis- charge of the receiver, and ruled that Finlzlestein should receive the balance of the corporations cash assets as 6 final allowance.
 The last financial report listed c balance of $3,826.61. Judge Quin- Ian ruled that the receiver should pay the dissolution fee, court clerks fee, and any other incidental fees involved, from that sum, and hold the balance as compensation for his services.
 Judge Quinlan took cognizance of the praise expressed in the court previously for Finklestein's work. He said that the late Judge Frank P. McEvoy, who had conducted many hearings in the receivership proceedings, had told him two years ago of accomplishments of Finkle- stein in his capacity as receiver.
 History Described
 Pinklestein who gave his state nnent to the court from the witness stand, pointed out that the corpora ton which owned a large number of factory buildings, was affected 'tin the depths of the depression" when its buildings became unused. Receivership proceedings were then necesSitated, it was recalled.
 The receiver pointed out that dur ing his period of service all of the buildings were sold, and all debts were paid.
 He recalled that from 1892 until he became receiver in 1889 all of the tax bills of the city had accum- ulated. Finklestein said property was offered to the city in payment of tax bills, but that the city didn't want the headache to manage 1t"
 It was pointed out that two large pieces of property were sold to in- duetrial firms which have become the Largest in the world" for their type of manufacturing, and that employment of 2,OOO persons in Wa terbury has been made possible.
 Insurance Reduced
 Finklestein said that he was able to reduce the insurance bills from al,6OO to $500 per year. He point cd out that a real estate commls- sion for the sale of three large pieces of propeSty would have amounted to $8,200 and that he eliminated any such fee by direct sales which he arranged. Numerous other tasks were enumerated.
 Upon a query from the jurist, Finklestein disclosed that his f1le on Industrial Property business con- sists of four regular cabinet draw ers. He said his telephone and per- sona1 interviews regarding Indus trial Properties business ran into the thousands.
 q know from Judge McEvoy what yau did" Judge Quinlan said in making the receivers allowance to Finklestein.
 Dissolution was previously sought in March, 1945, but civil action pending against the receivership held up the termination of the cor poration. The court was told today that counsel in the case were satls- lied that payment would be made in the event the plaintiff recover ed damages in the action.
 Last March there had been an obiection from counsel to termina- ton of the receivership. The suit is based on g fall by Francis Bat telN, local youth, in an elevator shaft on property owned at that time by the corporation.