Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-11-02
"FRENz!!ED FINANCE"
Term Applied to Deals Of
Thos. E. Waggaman.
ATTORNEYS DUBIOUS
CHARGED THAT LIST NO. Is
WORTH ONLY $4,000.
Another Claim Filed From Italy
Many Favor Plan for
Three Trustees.

The term "a fanciful dream of frenzied
finance as applied to Thomas E. Wagga-
mans list of notes No. l." by Attorney
Landvoight. is liable to be realized, ae-
cording to the statement made to Star re-
porter today by an attorney whose name
is mentioned in connection with the Wagga-
man trusteeship.
II have it on the authority of a lawyer
who is prominently identified with many OF
the larger claims against that now famous
list" he said, that the alleged securities
thereon will not pay over $4,000. This
statement was not made at random. l I'M
derstapd he has gone over the list care
fully and this estimate is the result. The
claims against the list are said to aggre-
gate $1.200.0OO.
"As a result of this computation or esti-
mate" continued the attorney, 1T Is the
opinion of a number of interested attorneys,
and cerditors as well. that the claimants
on List No. / should be allowed to vote W
per cent of their claims at least, and De-
lieve Referee Bradley will so decide. There
are others who contend that those on the
list should be placed under the head OF I'M
secured claims"
Big Claims First.
Another attorney expressed the belief
that the Catholic University claims would
be the first to reach the United States Su-
preme Court. He said extensive litigation
is promised and that many of the smaller
claims will be lost in "the hurly-burly'
which will ensue.
A widow called at lawyers Office today
and stated that she had deposited her
husbands life insurance money with Wag-
gaman for investment. The amount Is
said to be unsecured and as it Is her all,
she fears she will be driven to extreme
poverty unless the Waggaman assets pay
out more than is predicted now.
A healthy sentiment in favor of the three
trustee plan is said to be developing among
the attorneys interested in the many Wag-
gaman claims. Some of those favoring this
plan say the matter is too vast to be han
died by one man or corporation. 1ney
say three trustees would practically mean
a committee of adjudication, and that with
such a committee it could not be charged
that any particular interest had the advan-
tage as might be the case should there be
only one trustee.
Three Trustee Plan.
IF former Commissioner Truesdell Is
made a trustee" said an interested attor-
ney today, ut should be with two others,
lawyers preferable. While it is true Mr..
Truesdell is a lawyer, he has not been In
practice for a long time. He is, in reality
a real estate dealer, and should represent
that element. His judgment as to values
attorneys as his associate trustees, the trio
could do much at making the best of bad
bargain. "
Other attorneys who favor the three-trus-
tee plan say the matter is too complicated
for one man to handle. Questions will
arise. they add which will call for the ex-
ercise of the best judgment of committee
of three The names mentioned today in
connection with the three-trustee plan are
those of E. s. McCalmont, Smith Thomp-
son, jr.. Hugh T. Taggart John Lewis
Smith and w. w. MILAN.
While the clai,n of his holiness Pope Plus
Y was not received today by Mr.. Andrew Y.
Bradley, the referee in bankruptcy, an
other claim from far-away Italy came in
tuday's mails. Il was that of Miss c. Sienna
Simms of Florence, Italy for $3.50 This
money. Mss S;mms explains in her letter.
w&s placed in tire hands of Thomas E.
TagEanan for investment. She referred
Mr. Bradley to =. c. Schriver, president OF
the Metropolitan Savings Bank of Bald-
more. Md