The daily morning journal and courier., 1904-08-24
CATHOLIC UNIVERSITY
 TREASURER IN TROUBLE
THREE SUITS IN BANKRUPTc1
 FILED AGAINST HIM.

Action Brought by Second National, the
 National Metropolitan and the Na-
 tionuI Bank of Washington, All Of
 WashingtOn-EGOrt to Set Aside a
 Deed of Trust for ss7G,OOO in Favor of
 the University.
 Washington, Aug. g. A sensation was caused in financial and real estate circles in this city to-day when 1t be- came known that a petition in bank ruptcy has been filed by three of the leading national banks of the city against Thomas E. Waggaman. a prom inent real estate and insurance agent of this city, and treasurer of the Catholic university. The petition also seeks to set aside a deed of trust recorded yes- terday on Mir. Waggaman,s property for approximately SS76,00O in favor of the Catholic university, on the ground that it is void as being an attempt by an in solvent debtor to prefer one of his cred- itors The petiioning banks were the Second National bank, the National Metropolitan bank and the National Bank of Washington, each of which al- legged it held overdue and unpaid paper | of Waggamans, the tota amount exceeding $4OOOO of which $S0,OO0 is due the Metropolitan bank. It is probable that the proceedings are the beginning of considerable litigation. MT. Wagga- raol t,14 4tn fof fo hs4c ness here since 1873, and was reported generally to be man of large means
 He was the possessor of the finest art gallery in the city, and some comment was caused several months ago when I brief announcement appeared in the pa pers to the effect that his art works had been turned over to the Catholic univer- sity. At the time it was explained as 3 l matter of convenience, but it is stated now that security to the university for money had to do with the matter. Be side handling the monies of the univer- sity, MT. Waggaman controlled large amounts of money belonging to other persons in this city and elsewheresand 1t l is stated that to some extent at least
 MT. Waggaman's personal notes were given as security to those whose money he controlled For some years he had
 been engaged in extensive operations in the suburbs of Washington and has had much capital tied up thereby. It is un- derstood that some time ago the author titles of the Catholic university became
 dissatisfied with the manner in which { the funds of the institution in MT. Wag- 1 gaman's hands were invested, and se- cured, and after negotiations between 4 them a new arrangement was effected. This new arrangement was embodied in the settlement of which the deed of trust I was a part. The deed of trust was dated July last and it is understood that the delay in recording it was oecasioned by the terms of the adjustment with MT. I Waggaman. A spirit of uneasiness re- specting MT. Waggaman's financial com 1 dition is said to have prevailed in some I circles for a few days and it was limited by one in position to know the circurn-
 stances that apprehending the possibili- l ty of bankruptcy proceedings, it was de- cided by those representing the uniyer- sity to have the deed recorded. The friends of the university say they think I that it will lose nothing if the deed of trust recorded yesterday can be sustain
 ed as against the general creditors of
 MT. Waggaman.