Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-11-04

|appleuded.b by the lGge and appreciatkve
audience.
Me. Donnelly followed with powerful
speech.
NUTS TO CRACK.
ONE OF ;W4SHBURN,S CREDITORS
HEARD From.
he Rsraie DIS the Assignee of the DOLLAR
for Dollar Days-Asksa Number of
Pointed COnundrusns-And Closes in a
ProVOkingIy Suggestive Manner.
TO the Editor of the Globe:
The journal having published an inter
view with Fl. T. Welies, one of Washburn's
assignees, intended to cover up the fact
that Washburn's employees were not paid
in fnll.at the time of his failure (few were
everso paid), but so skilfully worded as to
state only the truth, get daceire, and Mr..
Wslles having come to the front once
more,I desire to ask him:
How did it happen that before you
would act as assignee you insisted that
wour claims should be paid in full? You
were a creditor of Mr.. Washburn, why did
mot you yield the preference to the labor
ter?
How did it happen that DR..
Levi Butler, who sold Washburn's
notes for sixty cents on: : liar, had
has deficiency made up in cash, and this
after Mr.. Washburn's debts had all been
paid dollar for dollar in inflated proper
ty at appraised valuation? Why we're not
the deficiencies Of laborers, who sold their
time-checks at half their face value, also
made up?
How did the First National bank get
dollar Tor dollar by surrendering $4,000 of
Washburn's paper for One-third interest
in a grist-mill which it acas glad to sell
afterwards for about $4,000.
How did the Merchants National bank
keep even by investing $4,000 in two
| thirds interest in an old saw-miu and sell
ling it for $4,000? tc
| How did Merriam & Wilder and Byers g.
Wilder, whose claims aggregated $4,000,
fare with the lot they got subject to q
mortgage OF S16,OOO!
| How about Peter Wolford selling Wash
burns paper for fifty cents on the dollar,
and on time ct that?
| Is it true that the Vermont Fletcher's
death was the result of excitement growing
out of his losses?
Did you urge creditors to take the prop
erty at appraised and fictitious valuation
.as being ':the best they could doy''
Was the property, under your super
vision, appraised at nearly double its
value! And did you save nearly $500, 900
for Washburn ''out of the wreck?''
How much was Col. Patterson paid to
negotiate the sale of Washburn's paper, be-
fore the assignment, and when Washburn
Ene,U he auds bankrupt
Did not personal friends" of yourself
and Washburn furnish Patter-
son the money with which to buy up those
same notes at forty-five to fifty-seven cents
on the dollar?
Did not Washburn borroru money arith
Which to pay your claim, just before the
assignment, and return it on the "dollar
for dollar" Plan9
Did not Washburn tell you and others at
Eeeting of creditors that he could not
trust the laboriug men, and feared they
would burn his Anoka mill?
Was it not because of his fears, and not
because he cared for their necessities, that
he urged that they be speedily settled with
SON the best possible te,ms?"
Were not ''the best possible terms'' in
some cases as low as thirty eight cents on
| the dollar?
Did not some of the laborers gladly take
dollar for dollar" in the shape of store Or
ders on creditors at discount of thirty
per cent. at each end?
Did not every creditor who settled, no
matter for what per cent, receipt in full
and haven't you claimed that "receipt in
fulr' meant dollar for dollar?
Did not Washburn's brother have a
mortgage on his most available propertys
And didn't his wife have large amount
of government bonds ''in her own name?'
Before the assignment were not things
faced so as to protect Washburn and place
him in position to dictate terms of settles
ment?
There, Mr.. Welles, when you have an
swered the foregoing s'easy Ones" I'll give
you some harder nuts to crack. The
writer hereof has been for years, and now
is in possession, of the inside history of the
assignment By way of a hint, let me ask
what became of the first assignment pa
pers- the ones which you said swould't an
swer the purpose?" On the whole, don't
believe you will care to answer.
ONE OF THE SUFFERERS.
HOsc We Are to be RuiMed.
The following communication seems to
be sent to Minneapolis paper via the
GLoBE.-ED. GLOBE. Isl
MINNEAPOLIs, Nov. /, 1882.
To the Editor Minneapolis Evening Journal: