Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-12-13
ALL CREDITORS SIGN
Election of Waggaman Trus-
tee Ready to Be Reported.
MR., DULANY ACCEPTS
WILL ENTER UPON HIS DUTIES
WITHOUT DELAY.
Discussion of Statement by Referee
Regarding Time Consumed-Mgr.
Sbaretti Files Claim.
Mr.. DULANY ACCEPTS

compIete the certificate of election of Mr..
H. Rozier Dulany as trustee of the
estate of Thomas +. Waggaman. bankrupt,
were affixed to that document this fore
noon at the Office of Mr.. Andrew Y Brad
lev, referee in bankruptcy. The completed
paper which installs Mr.. Dulany in the Of
flee was, taken to the city hall at noon to-
day by Mr.. Bradley and presented TO JUS
tice Anderson, presiding over the Court IN
Bankruptcy. for his eertiication or approx
al. When approved Trustee Dulany will be
promptly notified officially of his election.
When Mr.. Dulany was informed by Star
reporter this afternoon that the certificate
of his election was complete and had been
placed in the hands of Justice Anderson for
certification he stated that he, would accept
dhe trust and would enter upon the duties
of the trusteeshp without delay, after he
has qualified and conformed to the neces-
sary requirements of the law.
The statement was made by friend of
the trustee that he would lose no time in
familiariZing himself with the intricate de-
tails of the Waggaman estate, and that he
swould proceed rapidly as is consistent
with the mary and important interests in
volved in the settlement.
< Mr.. Duiany's extensive knowledge of real
estate and real estate values in the District
and his record for probity and general abil-
ity We're mentioned elements which will
figure to the interest of the creditors in the
probable litigation and long-drawn-out SET
Element of the Waggaman estate.
Suit for Accounting.
s sara f. Sutton and Alice A. Lavender TO-
DAY petitioned the Supreme Court of the
District of Columbia to compel Thomas f.
-Waggaman' TO make a complete accounting
of the property, real and personal, which
and
tee of John p. Franklin deceased, as we'll
as all of the property held by John L.
Franklin. deceased. as trustee under the
will of Stephen p. Franklin deceased
Further the court is asked to remove Mr..
Waggaman trustee of the estate, to APP
point some other person as trustee. and to
require Mr.. Waggaman to turn over to such
trustee all property belonging to the estate.
The complainants file the suit as devisees
and legatees under the wills of Stephen 2.
Franklin and John p. Franklin They
charge that Mr.. Waggaman did not Invest
the cash received by him from the estate,
but used the same for his own uses, CON
cea!ing said fact by causing the clerks in
his employ to sign notes for the same. and
he continued to pay the interest quarterly
it became due after deducting therefrom
= per cent commissions for collecting the
same The complainants add that by
reason of the commngling of all of the
funds in question with Mr. Waggaman s
own estate their rights have been greatly
jeopardized and their estate endangered,
possibly in great part beyond recovery.
=. Securities Regarded as ~Valueless.
The court is informed that when the
compliments made demand upon Mr.. Wag
gaman for delivery to them of the securi-
ties and money of the estate in his pos
session all they received were three prom
issory notes, one for $4,000, one for $4,000
and one for s., 800, secured by list of notes
No. l." Although list of notes No. pur-
ports to consist of notes amounting to ST.,
100000, the eomplainants charge that the
list, as matter of fact. is net'worth go
0OO as security.
in addition the compliments, who are
represented by Attorneys Hamilton and
Colbert charge that by reason of the
gross breach of trust committed by the
defendant in commingling the funds OF
said trust estate with his own and In US
ing said funds for his own uses and pur-
poses instead of investing said funds in
safe securities, shows condition of at
fairs which justifies these compliments In
charging that he is an unsafe. unht ana
improper person to continue to administer
the trust imposed by the last will and tes-
lament of said John Z. Franklin, de-
ceased
Condition of the Estate.
The condition of the estate of Thomas L.
Waggaman, bankrupt, and the probability
that q fir al settlement of The affairs cannot
be reached in less than five years, as ex-
ciusively given in The Star Saturday. has
caused a wide range of comment In legal
circles among the many Waggaman
creditors and by the general public. Since
MIR Bradley. the referee in bankruptcy,
made his conservative estimate that five
years would be required for the settlement
several attorneys interested directly in the
case have given il as their opinion that six
and perhaps seven years may elapse before
a complete adjustment of the tangled af-
fairs is reached.
In figuring out such possibility promi-
lent lawyer connected with the case stated
today that Trustee Dulany will be con-
ffonted by this sort of a situation:
The Catholic University holds two trusts
on the art gallery and the Cleveland Park
property. aggregating about $4,000.
In order to set those trusts aside the
trustee will have to file suits either in the
Equity Court of the Supreme Court of the
District Of Columbia, or in the bankruptcy
court II such suit is filed in the Equity
Court it will certainly be appealed 1t will
then go to the Court of Appeals and then
u the United States Supreme Court.
AT least one year will be required to
get a final decree from the Supreme Court
of the District. Then 1t will go to the
Court of Appeals. which will require an
other year. or nearly year From there
II will reach the Supreme Court of the
United States. and two years, approx
mately. will be required to reach a de-
cision in that high tribunal.
Consumes Four Years.
That" continued the attorney. would
make total of four years, taking 1t for
granted that the trustee will have occa-
sion to take action at once after his ap-
pointment. OF course, the trustee will not
act on his own initiative in bringing
about these legal proceedings Some
creditor will have to take some action on
which he can proceed. If the suit is
instituted in the bankruptcy court 1t will
not necessitate going to the Court of APP
peals. but the case will go directly from
that tribunal to the Supreme Court of the
United States. The trustee. must have
some Information on which to base his
action. He will, a preliminary move,
have the titles OF all the Waggaman
property examined; witnesses will have
to be examined, and many other things
done preliminarily.
Because of the complicated nature of
the case innumerable questions, which have
not yet suggested themselves are bound
TO arise. There will be many difficulties
TO overcome and many legal tangles to be
unraNeled. Whatever the decision of the
lower courts may be. neither the Catholic
University nor the trustee will abide by it,
and the matter will therefore, finally be
taken to the court of last resort. The case
may therefore be extended over a period
covering six perhapS seven