Cedar Falls gazette. [volume] (Cedar Falls, Iowa) 1860-1895, 1867-04-05
How Barnum Secured the Compromise
OF Debt.

L
How Barnum Secured the Compromise
or Debt.
A contributor Of the New York Cit
cen tells the following:
i am a lawyer by profession, and for
many years had a permanent client
named Johnson this gentleman was
a careful business man, honest and Ca
pable, but easily put down by swag-
gerer. he dealt little in commercial
paper, and had bought several of the
notes of the Jerome Clock Company
with Mr.. Barnum's Endorsement. The
prince of humbugs had apparently
been humbugged himself, for he had
been induced to invest largely In q
company that, by its own account,
could manufacture clocks enough to
provide every man, woman and child
In tho entire world, Africa included,
with perfect timepiece, in the space
of three years. Not only had Mr..
Barnum taken an interest In this won
derful company, but he had indorsed
Its notes to the amount of nearly half
a million. When the company failed,
as it did long before the negro babies
were supplied with their new toys, he
found himself terribly involved, and
felt that all his ingenuity would be re-
quired to get clear.
My client did not sue tho note that
he held, but watched quietly while
other creditors entered judgments and
examined the debtor, and tried their
best to collect their claims. OF course,
Mr.. Barnum owned no property, every
thing belonged to his wife, or some
friend, or anybody I'm fact but himself.
His interest In the Museum was as
fishy and unreal as his mermaid his
other possessions had dissolved into the
air; his castle of Iranistan had become
n Chateau a. Espdgne,' but so ingeni-
ously did he swear that the ablest law
yer could not catch him. johnson had
anticipated this, and quietly bided his
time. 1t came at last. Mr.. Barnum's q
friends wanted to settle his liabilities
for him at few cents on the dollar !;
but my client refused all settlement
It was useless to talk Of generosity and
liberality on the one side, and poverty
and hopelessness on the other. He
knew his man and claimed his pound
Of flesh. This lasted for some time,
but one day Mr.. Barnum's friend
dropped into Johnson's store, and after
some casual conversation, remarked:
"Poor Barnum, / am afraid he's done
for"
"oh,n said my client, che has money
enough"
mo, no; it is not that, 1t is not that
in a sad tone.
"What Is il then p, was the query.
sI am afraid he Is desperate his
creditors refuse all compromise, sud he
has fallen into bad habits"
"What is it that you refer to ?" con-
tinued johnson, alarmed.
"You know what q teetotaler he al
ways was well now he has become a
perfect sot. / will bring him here
some day that you may see him. OF
course, his friends have given up all
idea of compromising his debts; that
would be useless"
Having left this suggestion to rankle,
I'm few days Barnum and his friend
appeared. My client had known the
Snowman for years, and could hardly
have believed such change In him
possible; instead Of the spruce, partic-
ular person he had always been, his
hair was uncombed. his dress was
soiled, his Lat was battered in, his
hands were unwashed, his finger nails
filthy, his beard unshaven, and his
whole appearance that of used-up
loafer. He was chewing the stump of
q cigar that had gone out long before,
his breath stunk of rum, and his eyes
stared with a drunken glare. When
he sat down he swayed from side to
side, and bleared stupidity about, re-
marking at once:
"Settie it between you, settle 1t be-
tween you, is nothin' to me-
"You see what q wreck he is," .whis-
pered the friend, 'sever harping upon
the same subject
"Why don't you settle it?n mumblcd
Barnum -. m.give him his twenty-five
This was enoagh for my client. He
had all he could do to persuade the
friend to pay him twenty-five per cent.
of his claim but the next day when
Barnum gave him the money person.
ally, the latter looked so much improv-
ed that he fortunately made the condi-
ton that the compromise should not be
valid if he was being deceived, and Ii
Barnum really had property. In less
than two years the latter announced,
in public speech, that he had settled
all his debts and that he was richer
than ever, his wife having kindly taken
care of his interests. Then johnson
came to me and ] commenced suit on
this claim; treating the settlement as
invalid. I always regretted that the
suit did not come to trial, for IL would
have made my fortune; but unluokily
Barnum made I'm amicable arrange
ment. In the course Of the discussion
he told me how he had prepared him
self for the interview with Johnson,
upon whose action 1t appeared that q
large number of other claims depended.
He let his beard grow for several days
he left his hands and face unwashed I;
he looked up an old beaver and smashed
In ono side; he put on his dirtiest
clothes, and just before going to the
interview he rinsed his mouth out with
the viIest three cent rum he could find,
and removed his false teeth. He used
an entire set Of false teeth, and their
removal not only shortened bis face in
o disfiguring way, but compelled him
to humble. his words. The rest was
acting, and probably the best remuner-
ated ease Of acting ever known.