Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-08-24
Attorneys Suggestion to MIR.
Waggaman's Creditors.
SAYS HE CAN PAY ALL
SCHEDULE OF ASSETS AND LA
BILIrIEs BEING PREPARED.
Rule Issued Requiring the Defendant
to Appear September in Bank
ruptcy Proceedings.

eff the creditors Of Mr.. Thomas E. Wag-
gaman will agree upon some conservative
man to administer the affairs of his estate
1 am confident not only that every one will
be paid In full. but that Mr.. Waggaman
will have a tidy fortune left
This statement was made today by Mr..
Irving Williamson, Mr.. Waggamans legal
representative. Continuing, Mr.. Williamson
said: ,-.-
But If a man is selected, by the creditors
who will act hastily In the settlement of
Mr.. Waggaman's financial affairs. and who
will force a sale of the properties now held
by Mr.. Waggaman. I will not guarantee the
payment of seventy five cents on the
dollar
approximately what are Mr.. Wagga-
mans assets and labilities? Mr.. william
son was asked.
Il haven't the faintest idea" replied the
attorney. Il have three clerks working on
his accounts. ard I cannot even approx
mate the totals until all entries have been
made and the columns added"
Mr.. Williamsou's attention was then call
ed to the fact that the deed of trust dled
for record Monday in the nature Of a
triple security to the Catholic University.
that institution being protected first by Mr..
Waggamans bond. as treasurer, and Sec
ondly by the individual securities on the
several investments. aggregating the $780,
16S. 90
Does this not signify a desire on the
part of Mr.. Waggaman to prefer the uni
yerSty as a CREDITOR" Mr.. Williamson was
asked.
I do not care to discuss the matter of
preferred creditors was the reply. II be-
lieve Mr. Waggaman's bond amounted to
only $HD,On, while he wao charged, as
treasurer, with almost 100000. You can
readily see that this would leave the uni
verStty unsecured to the extent of nearly
$iOO.OoO. The matter was considered by all
parties at Interest and the decision reached
to execute the deed Of trust to secure the
deficiency. That is all there is to it,
A Question of Law.
DO you think the deed of trust will
stand?"
That is question of law replied the
attorney. IF the creditors will move slow
ly no one will lose penny"
The alleged gift of the Waggaman art
collection and library to the Catholic Uni
versity was then referred to, and Mr. Will
hanson requested to explain why it was
made to appear a gift to the institution
when In fact 1t was only put up as security
for MIR. Waggaman's financial liabilities.
That was circumstance over which
Mr.. Waggaman had no CONTROL said Mr.
Williamson. Mr.. Waggaman did not orig
gift and he did not affirm 1t. as far as 1
know. The story was due to the magma
ton of some local newspaper writer's its
only foundation being the record Of mort
gage .,., ,..
Then why did not Mr.. Waggaman deny
the story II 1t was not true?'
Financial Suicide.
eide" was Mr.. WHliamson's answer "At
financial obligations which he believed he
could meet in due time. To have 1t be-
come known that he was Offering his COL
lection as security for certain indebtedness
would have brought all his creditors down
upon him at once and Swamped him AS
it Is. he has paid many obligations, and as
| have said before. will liuuidate fully If
given chance"
The appearance of the name Of Mr.. S. E.
Allen. jr., as maker of several notes hsld
by Mr.. Waggaman as security for invest
ments is explained as part of a method
Of financing. Mr.. Allen has been a clerk
in Mr.. Waggaman's offices since 1883, and
Mr.. Williamson said the value received
had no significance, beyond being IAN evil
dence Of security" Mr., Allen was not at
ers at his home. 9O2 French street.
Rule to Show Cause.
In connection with the proceedings inst-
tuted yesterday afternoon to have Thomas
e. Waggaman adjudged ba nkrupt rule
has been issued by the court requiring Mr..
Waggaman to show cause the 9Th Of Sep
,ember why the prayers of the pettioning
banks should not be granted.
More Waggaman Deeds.
By deed placed on record today Thomas
E. Waggaman and wife conveyed to John
Sherman lots 90 to 33. inclusive and part
of lot "a and parts of lots to q, inclusive,
in block 7. Thomas E. Waggaman's subdi-
vision of Cleveland Park. Ten dollars"
was the consideration mentioned in the
deed.
The latter includes the following state
ment: - it being the object and in
tent of these presents to supplement, cor
rect and confirm two deeds between the
same parties hereto. dated July 90 1904,
and recorded August l, 1904, and August 3,
1904. respectively"
There was also recorded today a deed by
which Thomas E. Waggaman and wife, 'in
consideration of $10.' conveyed to Ella B.
sherman lots l and ., block T. Cleveland
Park.