Coral Gables Historical Archive
The Coral Gables Times
Thursday, June 21, 1962, page 1 (of 20)
The page
The text of this pageRead by computer from the scan, so some words may be wrong. The page picture is the original.
CONTROVERSY PLAGUES PLUSH HIGH RISE APARTMENT ON CORAL WAY
THE Coral Gables TIMES THE CITY BEAUTIFUL Vol. 37, No. 20 20 Pages Thursday, June 21, 1962 Phone HI 3-1661 Price 10c
High Rise Apartment In Trouble
By BECKY DOYLE QUINN Times Reporter The Six-Fifty Building, five-story apartment building the subject of controversy since it was built, is now in severe financial straits and its owners are charging that two of their four mortgages are usurious. With more than $700,000 in outstanding debts, Kathling Corporation has filed a petition for reorganization, under Chapter 10 of the Federal Bankruptcy Acts. They are attempting also to have their second and fourth mortgages both with interest rates of 15 per cent, declared usurious. The two mortgages, now under investigation in Federal Court, total $200,000. The building, located at 650 Coral Way, was built and is owned by Six-Fifty Coral Way, Inc., which in turn is owned by Kathling Co. The name Kathling is a combination of the names of the two owners of the firm, Ely Katz, a Miami Beach attorney, and Robert Othling, 2720 Country Club Prado. Kathling Co. owns the building, but the land on which it is built is owned by Mr. and Mrs. Charles M. Posner. Kathling has a 99 year lease from them. Othling had no comment regarding the proceedings, and said only that Katz was "the man to talk to." Katz said that he was no longer connected with Kathling Co. He said that he is neither a member, an officer, or a director of the firm, and that as a subpoenaed witness in the case, he would make no statement. J. B. Booher, referee in bankruptcy, U.S. District Courts, Southern District of Florida, said that the hearing is now in progress in the court of Judge Emit Choate, "to determine the validity, priority, and amount of liens." He said that a decision should be rendered by July 10. Under Chapter 10, a property owner can voluntarily petition for reorganization, to procure relief of the debtor, keep the firm concerned functioning, and eventually fulfill payment of creditors. It is one of 15 chapters of "debtor rehabilitation," explained Booher. Kathling Co. has four mortgages. The first is held by Washington Federal Savings, and Loan Association of Miami Beach, for the amount of $300,- See High Rise p-2
Metro Shelves Coral Gables Sunday Law
Metro commissioners have taken one look at the Coral Gables City Commission's letter requesting action on the Sunday Closing ordinance at their meeting June 5—and politely shelved it. When the City decided to send the letter, they enlisted the aid and support of the County League of Municipalities. The League sent letters to the member cities requesting they adopt the resolution and recommend the implmentation of a county-wide ordinance prohibiting retail merchants from doing business on Sunday. The exceptions to the requested ordinance would be drug stores, restaurants, gas stations, theaters and other recreational endeavors. "We've done all we can," said City Manager L. W. Robinson Jr., "Now it's up to the county. Whenever they get around to it."
Tax Audit Nets $31,000; More Checks Coming?
The first phase of a special audit of commercial property inventories has revealed 264 flagrant violations and netted the city $31,000, according to Paul Gleman, internal auditor. And the City's expenditure for the audit was only $1,000. These were the figures submitted by Tax Assessor Tom Blount, to the City Commission, in support of his request for an additional $1,000 to make 350 more audits which he says are necessary to close out the fiscal year for the 1962 rolls. And, according to a letter sent to the Commission from Finance Director Kenneth Allyn, Gleman says that 2,000 more audits should be made next year, requiring an additional allocation of $2,500. Allyn recommended that this be approved by the Commission. Gleman had reported that "public reaction to this work has indicated that objection is not serious if all returns are eventually checked." "If that is not done those that are audited feel that they are being unfairly imposed upon." The Commission voted unanimously to allocate the $1,000 to complete this years rolls, but they declined the additional $2,500. The Commission was split on whether or not the final 2,000 audits are necessary.
Publix Dead? Delay Only, .. Contractor
Things look like they have come to a standstill with construction of the new Publix Store at Nervia Street and Madruga Avenue and some property owners in the area are taking hope that the whole thing will be dropped. But looks are deceiving. It's just a temporary delay, according to Jerry Nagle, superintendent and vice-president of Witters Construction Company, which is building the store. "We have a lot of surveying work to do before the foundation can be laid," he said. "We should have the foundation dug by next week." So residents who don't want the store may have to take hope from something else. "We will proceed immediately," said Nagle.
Goodwill Industries
Got any used hand or power tools you don't need? Goodwill Industries, a United Fund member organization, desperately needs them to continue its work with the physically handicapped. These gifts can be written off your taxes, according to Mrs. George W. Douth, who can be contacted at FR 1-5431.
"It could be you!"
"Response was terrific!" says Mrs. James Sprague. Thayer crib, mattress, Good Cond. $10 CE. 5-0929 The same fine results can be yours by dialing HI 4-6844 or HI 3-3054.
ANOTHER WET GROUNDBREAKING
for City Manager L. W. Robinson Jr. June 14. Owner Ben Gaines assists. For a picture of what they broke ground for, turn to Page 2. (Times photo by Raymond Lang).