The daily union. [volume] (Washington [D.C.]) 1845-1857, 1855-03-22

The Of s. W., Co passed into the hand. Of
rutees Ac who expecting 10 pay the full amount due
the creditors says the notice IN the Union We again re
peat that seeing how y, 90 have managed the mat
their property surreptiousy and candetney beyond the
reach OF their creditors the hands Of trustees chosen by
that they intend pay just much they please when
and how they please, and to whom they please Were We
their creditor should jump unhestatngx at the offer OF
either eighty eighty three cents on the dollar.
He had In previous article charged s. W. Co, with
eompounding with Of their creditors at eghtyhree
cents In the dollar and when in the name OF the rm Is
denied by card published in the Union newspaper the
tice above quoted Is published by him reterating the
charge and specifying purchases made of b. b. French,
ESQ.,, and Lieut. Woodruff.
Mr. says that since he wrote the article TO which the
card in the Union was reply be had learned from an
mdoubted source that s. W. Co. bad compromised with
Lieut. Woodruff for lightweight cents in the dollar &c
that he had understood they compromised with b. y.
French, esq, at eghythree cents in the dollar. Mr. r.
gives neither the undoubted of his information in
the case OF Woodruff states who informed him in the
case OF French.
The letter of A. Wylie ESQ., hereto appended shows the
utter recklessness and fasity OF these charges.
In addition TO Mr. Wyes statement the letter of John
A. English and William Bayne esqs is also hereto APP
pended further evidence of the utter wantonness and
groundssness Of these charges submit the testimony Of
they viii be fully credited, Notwithstanding the unworthy
effort made by to discredt them by seeking to involve
them participants in the fraud he charges upon the
members of the firm.
The charge he makes of the firm having e6ectuaily
placed all their property Surrtousiy and eiandsaety
beyond reach their creditors the hands of
chosen By themselves their intimate friends and relations
and that it is evident therefore, that they intend pay
just as much they please &c is sheer nonsenseyea
wickedness Mr. Ryes may esteem himself fortunate If he
has heretofore sustained and shall hereafter sustain fair
reputation for honor and integrity these trustees.
And If they honest they peculiarly fit and
proper in this case because they may be presumed
to feel greater anxiety than mere strangers to make the
assets yield the largest possible amounts besides it seems
wholly to have escaped the observation OF Mr. r. his per-
ception being doubt perverted in his eager pursuit Of
the qualification of his malice that s., W. Co could have
easily defrauded their creditors without deed of
trust than with gHHE4
But enoughl leave the public, all fair-minded and
just men, to judge of the motives prompting Mr. K in the
he has pursued and Of the credit due to his
sensations His first attack did not notice for the
already stated His persistence in his Of magnity
feel mpelled by both Of what is due to myself
and my family to answer and expose In this course act
for myself individually leaving the other members of the
firm to pursue such course in the premises as they
think fit.
am conscious of entire recude of purpose on my part
throughout the whole of the transactions of the firm of s.
w, Co.. from first to last BY my connexion with said
firm have lost all the property possess and am left
with large family wholly dependent upon my future
ertions have nothing left but my good name my capn
city for business and fidelity any trust that may be
mitted to Until the affairs of Selden, Withers Co.
are wound up, can do nothing Whatsoever reards that
event my integrity to be suspected Injuries me
vitality. Neither my own interests the interests of
those who depend upon have stayed the malignant pen
OF John Z. RtyeS. then decide
between us whether dishonest and corrupt man,
he malignant calumaiator and slanderer.
L. p. BAYNE,
One of the firm of Seden, Withers, & Go.
P.S.--Absence from home has prevented my noticing
Mr.. r. before
WASHINGTON, March IA, 1855.
Dean Your note of to-day, asking US to state
whether any of the funds of Seden, Wihers & Go. have
been used in compromising compromising with any of
their creditors ut price less than the value OF each
claim has Just been received We that not
dollar thereof has been so applied directly indirectly
either by ourselves by any else far know
believe On the contrary have invariably las they
will testify advised those who sought views upon the
subject take less than the par value of their claims
unless compelled realize before the affairs of the firm
could be wound up We hope answer is full and
plict We designed to make it SO.
We avail ourselves Of this occasion all who
may be interested that since the assignment to by Sell
den Whers, IL Co.. have collected Notwithstanding
the available funds have been tied in New York
by fruitless attachment issued by the State of Yrgnia
in round numbers about $4,000 or this about $780,,
have been in the issues S. w. Co., which have been
cancelled and filed away. The remaining $65,Oo0 have
been applied in strict conformity the letter of the assign
ment In compliance with the trust, we have redeemed
$4,000 of the bonds of the Virginia and Tennessee Rail-
road Company leaving $4,000 yet to be redeemed to
effect which will require about 81 900 When this shall
have been DONE the funds will next be applied exclusively
the redemption of the circulation outstanding amount
ing to $68O4S until the shall have been redeemed
Respectfully,
j. A. ENGLISH,
WIN. BAYNE
Trustees.