Property Will Be Sold To Settle Boldt Estate

RIVERHEAD, April 16. — Rowl and Miles, referee, will to-morrow submit to the county clerk here his report of the proceedings brought by Clover Boldt Miles and George C. Boldt, Jr., executors of the estate of George C. Boldt, late owner of the Waldorf Astoria Hotel, Manhattan, to foreclose two mortgages on the property owned by Nikola Tesla, scientist. The property involved was 200 acres of land at Shoreham, twelve miles from here. Besides Tesla, there were twelve other defendants.

According to the complaint, Tesla, for the purpose of payment, gave a mortgage of $7,270.35 to Boldt several years ago and on April 27, 1904, also gave a mortgage to Thomas G. Sherman. It was also brought out that in May, 1908, Tesla gave a third mortgage on the property to the Waldorf-Astoria Hotel for $8,379.82.

In order to settle the estate the executors brought the proceedings and Referee Miles held many hearings. His decision, which will be handed to the court to-morrow, will favor the executors and suggest that they go to court and secure an order to have the property sold. If the amount realized is not sufficient to pay the mortgages the referee suggests that Tesla be charged with the deficiency.