Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1893-04-30
ERASTUS wIMAN ASSIGNS.
The Wen Known Backer OF Enterprises
Goes to the wall-Real Estate Turned

The Wen Known Backer OF Enterprises
Goes to the waIl-Real Estate Turned
Over.
NEW YoRK.-Erastus Wimsn, the ad-
vocate OF commercial reciprocity with
Canada, the promoter Of numerous pro-
jects OF more or less financial success
and prominent member OF the New
York Chamber OF Commerce, the New
York Board of Trade and many other
business organizations has joined his
wife In making an assignment for the
benefit Of his creditors. The total
amount of his liabilities and assets are
no. known. 1t is estimated that his liza.
bllities will amount to Sl,oo0,000, and
they may exceed that sum.
The only available assets are believed
to consist of some land on Staten Island,
which stands in the name OF bis wife,
Mr.. Wiman, IS a Canadian and British
subject, being unable TO hold any land
In this country in his own name. But
for the transfer OF this land the
fact OF Mr.. Winan's failure
might not have become gener-
ally known for some time. In order,
however, to protect his creditors, an
assignment In trust was made under
the common law about about q month
ago by Mr.. Wlman and his wife, Mrs.
Wiman transferring about 400 acres or
land on Staten Island which stood In
her name, for the benefit OF the credit
ors. Mr.. Wiman, of course, joined her
in the assignment, which is a general
one for the benefit OF all creditors,
without preferences.
The trustee for the creditors under
the assignment is David Bennett king,
OF the law firm OF David, Black & king.
Mr.. King declined TO say anything
further than to admit that he is trustee
for the creditors and as such it was his
duty TO do the best he can for them
with the property placed in his charge.
Mr.. King declined TO give out list
OF the creditors or state the
amount CT Mr.. Wiman's liabilities.
IL is stated that ~ the time OF Mr..
Wiman's retirement from the firm Of r.
G. Dun & Co., he was indebted to the
concern to the extent OF S300,00 or
S40O, 900, but that since that time he
has secured the firm. The causes OF
Mr.. Wiman's difficulties are not defin-
itely known, beyond the general state
ment that on the multitude OF his OK
tensive ventures the stringency Of tho
money market has had disastrous ef-
feet.
Col. w. L. Strong, president OF the
Central National Bank, said that he
thought that Mr.. Wiman had property
worth more than his debts amounted to,
and that IL he was not forced to realize
too suddenly the unsecured creditors
would all be paid In full.
A reporter saw Mt. Wiman tonight at
his home in ST. George, 5. l. Mr.. Wlmsn
said:
'In the first place, have made general
assignment. am British subject, and,
under the laws Of Now York, cannot con-
vey real estate. l have felt that my real
estate interests should be made available
for my creditors, past, present aud future.
'The property has been In the name OF
Mrs Wiman, who, ns an American, could
convey it. A trust was created some
months ago, and about million dollars
was conveyed TO David Bennett King.
That is the length and breadth OF 1t. Large
properties heretofore unavailable are now
at risk"
He also says that he will be glad 10 re-
srond TO any indebtedness now due or
maturing,