The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-03-26

Two solid months work of half dozen
ATTORNEYS and almost a regiment Oh
other interested parties has just resulleu
In the practical settlement OF the AFFAIRS
of 6. ?. Teasdel 6, Sons the well-kno"n
business house, whose assignment casuseu
great furry and sensation N the coIh-
mercial world. The first and second class
creditors have been paid, and there re-
main but a comparative few in the thlru
class who have not yet made assignment
of their claims. These are expected 10
sign the agreement within the next Ae"
days, ana then the good name Oh the
trim will be entirely cleared. IL IS prdc-
ticalIy all Mr.. Teasdel and his sons VIII
have lefl after the settlement with the
creditors, IN which claims, whose ia a60
values aggregate the sum OF $1zo..v ~
have been wiped out including the Szosg !t
credit of Neslen. The nrst Grass -
ors were paid in full out of the proceeos
derived from the sale OF the STOCKS OF
goods held by the firm, While Ihe seColIu
class received so per cent, and II IS IN
derstood that the third class are 70 ~; re
ceive so per cent. The -Neslen claim
which was being pressed in the court
was discounted $4,000, that gentleman !, r oeo
was in outside real eNtate- He mace an
assignment Of his claim to Wells; Fargo
& Co.. and the bank received deeq I ior
the South Temple street property OF MI.
Teusdel. This will result in the Withdraw
al of the suits now in the court.
The claims in the first class gave an
aggregate face value of $4,000; in the sec
ond class, SSS. 600; in the third, $4,000. the
settlement is looked upon by the conserV-
alive business men of the city as a very
fair one, in view of the class or out
standing accounts and the nature of the
stocks OF goods carried, and was success
fully engineered through by Judge
Thomas Marshall, AssigneeS Dooly ana
Geoghegan, and Messrs. Booth, Lee ana
Gray, with the aid of the other interest
ed people. Although It leaves him with
little or nothing with which to build up
his shattered fortunes, Mr.. Teasdel is sat
isfied with the adjustment and feels that
he has met every issue honestly and
without thought of self or family inter-
ests. The one thought of both himself
and his SONS has been to satisfy the cred
itors as far as the property. personal or
firm would go WI MIth out eXcePb5lo e1 r Se
sible has been done in the protection OF
their claims.
In the settlement Neslen tosk the Lehi
property in part payment and the DAVIS
county real estate reverted back to the
forr--r owner as the result of full re-
de- on. The claim of the Pixton heirs
was -rtially retired through the trans
fer to them of the one-twelfth interest In
the Main street property formerly occu-
pied by the firm. About the easiest cred
itors to settle with were the eastern
houses. which were classed after the
Utah people. From these persons and IN
situations letters by the score were re-
CelNrh ny MI NOls CNR- -
sions of regard and confidence and prom.
ises Of extensions or any other relief
which might he desired. The firm stood
extremely well with MS eastern connec-
tons. rs 1t did. of course, with the local
people with whom II did business. Just
what are Mr.. Teasders plans for the fu-
ture is not known outside of the circle of
his immediate friends and relatives, but
with him will go the good wishes of 2
multitude of friends. 1t is anticipated
that the outstanding assignments OF
claims will De received with the next
few days, a. the very latest.