Kalbfleisch sale, Brookfield receiver

The Kalbfleisch Sale.

The public sale of the capital stock of the three chemical factories formerly owned by the defunct firm of Martin Kalbfleisch's Sons, was held according to announcement and realized $6,000. The sale was ordered by the Supreme Court of Brooklyn at the request of Receiver Brookfield, but the result is kept a profound secret except the amount stated. A representative of the REPORTER asked two of the Kalbfleisch brothers for details of the sale, more particularly the name of the buyer, but they declined to give any information. Receiver Brookfield is difficult to find as he has so many interests to look after, and inquiries at his office failed to develop the desired information. A note was left for Mr. Brookfield in the hope of reaching him, but no reply has been received. Creditors who refused to settle on the twenty per cent. basis think it very strange that the transaction should be covered up. They don't understand why it is necessary to keep the matter quiet if everything is straight. It is said that the purchase was made by the same syndicate who bought four-fifths of the claims at 20 cents on the dollar several weeks previous to the sale, and that the syndicate is composed of the Kalbfleisch brothers. How the mortgages are to be met or whether the three factories will be operated as usual under different management, are questions which can only be answered at headquarters. Reciever Brookfield discharged his duties to the satisfaction of everyone interested, and the task has been a very trying one. The Bushwick Works has double the capacity of the other two and was originally capitalized at $600,000. It is mortgaged for $250,000, and of this amount the Kalbfleisch estate is entitled to $212,000 on which the interest is due for six months. Judgements have also been filed against the Bushwick for $12,000. In the estimation of an expert the factory alone is worth about $100,000. The Buffalo and Bayonne factories have a joint capital stock of $80,000, and mortgages of $245,000. It is said that the Bayonne works could not be duplicated for less than $100,000 and that $125,000 would cover the value of the Buffalo concern, not including the real estate. The store building on Fulton street has a mortgage of $80,000.   It is claimed that the $6,000 realized is more than the entire property with the encumbrances is worth.