New-York daily tribune., 1856-03-15
LAW LNI'ELLIGENCE.
EXAMINATION OF ?. 7. BAgNUM.
SUPREME COURT-Before Judge HOSysAs.
Cushing Dennis and others vs. z. T. Barnum.

L. Il. Bamum was brought up yesterday morning
by the above parties, who have obtained Judgments
against him, and who pnder supplementary proceed
ines examined him in relation to his property Csun-
sci for PLAINTIFF j. w Wilson, esq. Mr.. Barnum was
attended by his counsel, Mr. Gerard.
In answer TO questions from plaintiffs counsel, Mr.
Barrum stated that he at present resides in this oity,
and that he is engaged in no business whatever. lie
owned the collection Of curiosities known as Banums
American Museum for about IA years, terminating
November s7, 1885, at which time he sold it to Messrs
g. WET did Pus' you get for i'll A. Double what
gave. ooo
O. Did YOU sell for cash. A. bought on credit, to
pny in equal usallments annually for seven yeafs
sold on the same terms, and took security. A.,
O. Where are the notes you received from messis'
Greenwood & Butler A. In my pocket
@. viii you give them up to a receiver to secure
tLosc judgments against you7 A. shall do wha'eSer
the Court orden, if in my power: Wo tono file .,s
A. Certainly it ives, and good sale, too. Is was
double TIE amount that the collection would have
brought at auction. The gentlemen who purchased It
will sell it to any parties who will pay them prons
of 81 900 each.
O. Wa there an inventory taken Of the Museum
at the time it sold A. An inventory was taken
q short time previous; have been talking OF selling
the Museum for several years past.
Q. Have you any interest in the receipts OF The
Museum at present A. None whatever
O. Did you ever own the Museum Building a. l
never did.
O. Who owns it7 A. The widow and daughter Of
Francis Olmsteed, deceased $500
O. What were you worth in June last! what
were your assets; your Liabilities, and what were the
particulars of your faimel A. In June last consld-
cred myself worth fully $4,000 above al my naoii. T.
ties; my estate chiefly in Bridgeport, Conn; II
consisted mostly of building lots houses, manufacto-
RES, docks, bridges, and the like; have expended
$4,000 per annum in Bridgeport for the last nine
wears: tLis was chiefly for building houses, bridges
docks, opening streets, planting trees, filling up
swanrs excavating hills and purchasing land /
have had hundreds of laboring men and scores OF
teams at work in Winter when most OF them would
otherwise have been unemployed and many OF the
laborers would have been compelled to go upon the
town for support; sold lots only upon certain condl-
tons, among which were the following:
First | sold TO none but respectable persons.
Second i sold only alternate lots, reserving the
Others for investment
Third never sold except upon condition that
building of the style of architecture approved by me
should be erected within year, and should be placed
certain number of feet back from the street. even
had clause in the contract that if the door yards
were not kept clean could do at the expense OF the
owners. When under these regulations parties wished
TO build was always ready to advance them seven
eighth. and sometimes all the money required allow
ing them TO pay me in sums Of $40 or more.
his system of management would have made the
property aize within few years four times as much
as can now be got from it 81 forced sales by the acre
The mortgages on all OF that property amounts 70
sou etLipg between 5000 900 and s3o0 900. The ap-
praisers appointed by the Court of Probate have ap-
praised the property considerably less than the mort
cages upon IT, and do not suppose that the property
viii sell for much as i is morgaSed tor, thus some
100000 viii be sacrificed and lost
In tie month Of June last, from representations
made 10 me by the Jeroes and by the Cashier OF the
New Haven County Bank, in writing, | was induces
to contract to ndore and accept jerome paper for m
amount a little over 500 900. l did that and con-
t;nued TO do IT, as | supposed, for reaerds, until
found at last to my utter amaZement that my name
was their paper to the amount as they say, ot
si64 0oO though, as most OF the paper was slGne ID
blank | do not know Of my owg personal knowledge
that there is not million Of dollars against me. Ine
Jeromes called me in December last to raise them
slCO coo in cash by mOrtgagng my estate they agree
lug to pay me within twelve months, and TO pay al
cots and sacrifices which should be obliged 10 make
by the operation. With this intent borrowed over
SEQ 600 for them in the shape Of bonds OF various
States. towns, and counties; but upon having ouA
nets friend investigate their affairs be found them
beDkrupt and informed me that was ruined beyond
all hope then in despair offered the jerome credit
ors siOO COO if they would hberate from all LA bill
ties on their paper although my counsel informed me
that was not legally bound for that amount. Tbs
they found imprsctcsble. was then compelled 10
sell the bonds at loss OF some $50 900, in ORDER 70
nav my personal debts. also paid and secured Ger
tain liabilities for the Clock Company to the amount
of $4,000 or $50, eco. My hands are now tiei, my
property shipped from me, and my power to DO ousi-
ness Is paralyzed and destroyed.
have failed for i hope TO be able to pay all OF my
debts; but ii ty falling" you mean my inability ~
nav clock debts, that failure occurred last January
O. Why Go you not consider yourself liable for wha'
,o call clock debts A. Because some Of the holder'
OF those debts were the very pr'oaa who nd1eed ue