The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-11-20
BOSS SHEPHERDS ASSETS.
AND now NE PROPOSES TO GET OUT
or ms DIFFTCULTIES.



-
The Creditors Pockets 10 he stufod with
the Boss's scrip - The Fictitious Value
Placed upon the Bankrupfs Real Estate.
WAsHTNGToN, Nov. 19-Thc District Ring
has In its campaign against the savings Of the
poor and the resources of the rich a method as
well defined as the art Of war OF Mcntecucoli or
Napoleon. The bankruptcy OF Boss Shepherd Ia
being managed by the maxims worked out over
the embezzlement Of the Freedman's Bank
funds, and in the swindles OF the Ring Govern
ment, which a Radical Congress foisted upon
the country by authorizing tho issue OF the
guaranteed 36j bonds. The so-called creditors
meeting, arranged for last Wednesday evening,
was IN keeping with the most solemn farces per-
formed by the score of old s,aRers for some
years past. Instead of the usual forms OF a
business meeting, the modus operandl Of a
mushroom petroleum speculation was car
ried out. The local press, whom the
illustfious bankrupt had 50 well taken care of.
had prepared the faithful By shockinRly in
vented puns, and men OF the stamp of A. NJ.
Clap, the Government printer whose bonds
man the Boss is. and George Taylor under in
dictment in New Orleans, were manufactured
into creditors, SO that they could harangue the
meeting ms parties In interest and drown any
sober second thoughts Of skeptical Victims
There was no roll call. The statements Of the
Boss and his selected confidence men and
spokesmen were rushed through without the
appointment OF an auditing committee or any
discussion, hut by reclamation Disinterestcd
friends judiciousv present among a crowd Of
nearly seventy persons elbowed inundated
mechanics forward to sign the papers, and as
the fuglemen waved their hats and gave the
tune the meeting broke up with cheers for the
self-sacrihciDg Boss, who was ushered in from q
sideroom aud snet crocodile tears.
W. f. Mattingly. one Of the LAWYERS who had
failed IN the defence Of the Ring Government
the dirty work fee OF $500, IN the expiring
agOnies of the defunct Board of Public Works,
read a proposition to the effect that the Boss
was To deed over all HE properly, real personal,
aud mixed. exueDt his interest in the plumbing
firm, to three named persons in trust for the
creditors, the creditors to receive i've per cent.
Shepherd bonds, In denominations OF one hun
dred dollars and multiples thereof, running
i've years, the interest OF the nrst year to be
mated to the Boss These bonds are TO be Issued
at par In full liquidation VI the claims, and to
DO redeemed from the proceeds Of the sale OF
left In the Bosss hands. what Is to be his
wages for the trouble is not stated.
read Shepherds schedule OF assets and nablli-
ties, as revised by committee OF hgureheads
appointed Il the preliminary bogus meeting VI
friends. Tue assets were gwen at an assessed
value Of about tl,5D,OvU, aud tho liabilities at
$l3cO,Op which left an apparent surplus pf
nearly $5U0,OOO. The artfully- worded paper made
It appear rs though this was the low assessment
taken from tue numerical tax hooks Of the Dis
in the whole District as lust conpsteq. rs but
s6769ie. Add $4,000 for a farm ia virginia. md
$5OVO for his fufnitnrs. as the only personal
property which he reports. and which is tangi-
bic. the total Is only s156.gie. or much less than
one-half Of conndence-man Mattingly reported
assessment.
No time being allowed for a sober second
thought In this nicely put-up job OF a business
comedy. the innocent unsecured creditors were
left under the IMPRESSION that this was a prOpo-
sition bearing equally upon all the creditors,
while the fact IL that within the ample time the
secured creditors may mostly realize, though
some holders OF second mortgage will go nv
the board. aud 50 Will all the unsecured holders
OF the Shepherd assignats, which J. o. Evans
4 Co.'s COLUMBIA Bank Note Company are to
get up IN magnificent style for the benefit Of
our Republican hard-mOney bragcer. and for
the delight OF the wives and children OF the de-
luded creditors. Inc poor freedmen were de-
frauded Of their savings oy ioaning them out IN
part on worthless and IN part on insufficient
securities. The art Of war of the Kingm ster
mas since been perfected so that the Shepherd
creditors are stuffed with scrp ipsued upon no
basis at all other than the gran diioquent Gecara-
tons OF . worthless piece Of phper and the
faint prospect Of a reneral ol contract job5ery
under IA continuation u Republican misrule.
The ass Is are In great part unproductye.
=, prominent among them Is tue castle opposite
these two years 70 ape the late Raston Of san
Francisco. 1t IA put down at xsSO.OU. and then
there cOmes Bleak House, the corresponding
summer residence. feeble EFFORT toward Jay
Cookies Ogontz property, which has proved to
be 80 much OF an elephant on the hands of MIR.
Lewis, the careful trustee OF the Cookies. that
M To date, after more than three years, this
once glorious arm has not paid more than five
per cent. to ~ creditors. And then there IA MIR.
Mursei's mansion M street. ". The big pile Of
tricNw work, lately nut W b. the Boss at Penn
-ylvania avenue and twelfth street.is mort Gagged
- Philadelphia life insurance COMPANY Tor
$4,000, and friend, Mr.. A. ID. Jessup 1f Phila-
delaLia, Is In Tor second mortgage OF 5000,
which can never be realized rom this property.
Inc reckless character VI tins bankruptcy viii
he urOyed by statistics hereafter provided an
honest reform Government stops further steal
ngs under the District aud national Govern
ment.