Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-05-01
ERASTUS WIMAN'S FINANCES,
He Denies That He Has Failed and A
signed for His Credifors

NO Oehles mat He Has Failed and As
signed for His Creditors.
Mr.. Erastus Wiman denies the report sent out
by the New York Euening Post that he had as
signed for the benefit of his creditors. Mr.
Wiman said to reporter who called at his
home at st. George, Staten Island:
I've just finished reading an account Of my
assignment. and l must say that Tm sur
prised. You will understand my amazement
when say that l have not made an assign
ment and haven't the slightest intention of
doing so. There is some ground for the ac-
count which has appeared, but the whole
thing has been horribly exaggerated and dis
torted.
In the first place. | have made no general
assignment. NV action in having certain
properties transferred to trustee was as fol-
lows: am British subject and consequently,
under the laws of the state Of New York am
unable to convey real estate. For some time
have felt that the large real estate interests
which have accumulated on Staten Island
should be made available for my creditors,
past. present and future. The property had
hitherto been mainly in the name Of Mrs
Wlman, who. as an American, could convey it.
Therefore trust was created some months ago
and property valued at about 81 COO 900 was
conveyed by Mrs Wiman to David Bennett
King of the law firm of Black Ladd King of
"A Pine street. New York city. So far an
assignment is concerned that is the length and
breadth of it. Large properties heretofore IN
available are now at risk
Mr.. Wiman further said that he had made no
other assignment, contemplated none, and
didn't think that any would be necessary. 1t
was untrue. he said. that there had been any
attempt to hide or keep secret the transaction.
The document had been put on the public rec
ords. he said, some months ago. and was access
sible TO any one who chose to examine it
There Is not the slightest truth in the allie
CATION in the Erening POST he went on. THAT
the credit of the firm of r. G. Dun l. Co.. of
which | was formerly a member, has been
pledged by me. 1t has not been pledged for
single dollar 1t is equally untrue that any
suits have been instituted in relation thereto
No complications of this character exist
defy anybody to produce piece of nv paper
that | cannot make good instantly. OF course
times arc hard just now. and my income is not
as large rs it was. but all this talk about nv
failing is untrue. The property was transferred
as a matter of protection to my creditors and
to those who may become my creditors. Ne all
OF us have some creditors, l guess.
II cannot imagine what inspired sue an at
tack. One of the Erening Post reporters came
to me about month ago and asked me a lot of
questions about the property that my wife has
transferred to Mr.. King. He also told me that
he had 1t on good authority that had pledged
the credit of the firm of X. G. Dun K Co. for
good many thousands of dollars l told him
then and there that he was misinformed, and
thought that the matter had been dropped un-
til saw today's paper. Why. in the very story
in which they virtually accuse me of Insol-
vency, they mention Col. Strong of the Central
National Bank as one of my creditors and
quote him as saying that the total extent of
NV indebtedness to the bank was not more than
$4,000, and that that was amply secured bv
collateral so that | really owed the bank moth
ing. Another statement made in the Erening
Post, and credited to Col. Strong. is that at
the time of my retirement from the firm of r.
q. Dun x Co. l owed the bank, or that is to
say their secured loans to me amounted to
$4,000. but that had reduced them since TO
less than 900. All of this is since the transfer
of the property, which seems to have created
so much of hubbub Now. if had contem-
plated an assignment. or had made an assign
ment. would have been able to reduce this In
debtedness to the bank nearly $1,000? Is it
probable? That is all l have to say about the
matter"
The career of Mr.. Wiman has been unique.
He was born IN village near Toronto fifty five
years ago. During the summer he worked in
the fields. and in the winter picked up "A scant
education in the local school. He sold papers
on the streets at an early age. and at fifteen he
went to work in IA printing Office where he ac-
CURED his best education. He became a men,
Der of the staff of the Toronto Globe. His
genius for figures led to his selection as clerk
III IL. W. iDuIi ~ I o. mercantile agency, at
Toronto. and in 1861 he assumed entire con-
troll of the Canada business of the firm. Four
years later he went to New York
He is interested in the Staten Island Rapid
Transit railroad. and was one of the principal
owners of the ferry. Several wears ago he was
a director of the Western Union Telegraph
Company, and he is now a prominent member
of the New York chamber Of commerce, New
York board of trade and transportation, and
many other business organizations