Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-08-25
NO DEVELOP MENTS
Encouraging Views Of the
Situation.
WILL SETTLE IN FULL
STATEMENT REGARDING MR.. T. E.
WAGGAMAN's ASSETS.
Confidence Expressed That Bankruptcy
Proceedings Will Be Dismissed
Views Of Attorneys

There were no developments relative to
the Waggaman bankruptcy proceedings TO-
day except for statements made by Rev
A. p Doyle, secretary of the Catholic Uni
versity and private secretary to Mgr - Con-
nell, rector, and Charles ]. Bonaparte, a
Baltimore attorney. Both these gentlemen
took encouraging views of the SITUATION
and the former expressed the unwaverine
confidence of the university authorities III
the ability of Mr.. Waggaman to settle with
all creditors in full.
Mr.. Irving Williamson. Mr.. Waggaman's
attorney. said to Star reporter this after
noon that nothing more could be Sald until
the schedule of assets and liabilities is
con pleted. He added that this cannot De
expected before next Monday. This work
is being delayed by constant inquiries Whlch
are made of the clerks occupied in prepar-
ing the schedule by parties interested IN
the outcome.
Everything depends upon the showing
made in this schedule" said Mr.. William-
son. land we are taking great care IN its
preparation. We probably Will nave II
ready by Monday, for the information ana
edification of Mr.. WaggamanS creditors
and debtors. and 1 hope that when We
carry it into court September the petition
will be dismissed.
MI. Bonaparte's Statement.
Charles J. Bonaparte of Baltimore, who
was among those consulted by the board OF
trustees of the Catholic University OF
America. just prior to the filing Of the
ss76, 900 deed of trust by Thomas E.. Wag-
gaman, in speaking of the circumstances
is reported to have said:
when the deed of trust was demanded
1t certainly was not the desire of the trus-
tees to force Mr.. Waggaman into bank
ruptcy nor to take an unfair advantage OF
other creditors. Mr.. Waggaman stated to
me that his assets were in excess or MS
liabilities by over S1,OOOOOO. He was an
extensive real estate dealer In Washington
and the value of his holdings are largely d
matter of speculation.
LAS treasurer Of the Catholic University
Mr.. Waggaman took charge of the money
received by the institution and reinvested
it. thereby guaranteeing the Institution U
per cent interest on the amount. Later the
interest reduced to per cent an
nually.
Il never approved of that PLAN said Mr..
Bonaparte. Collateral was demanded at
various times and various kinds were fur
nished. The kind, however, furnished was
not always what was desired, nor. in the
opinion of the board Of trustees of the In
stitution. sufficient to protect the univer-
sity from probable loss. Mr.. Waggaman
was first requested to surrender the deeds
to the various properties acquired by the
money of the university, but this was diff
cult for him to do at once. and it was then
that the deed of trust was required.
This action was taken by the trustees
al the time when Mr.. Waggaman's tinan-
cial standing was unquestioned. 1t seems.
therefore. that the deed of trust should
hold good. but 1t may be possible to at
tack it's validity under the bankruptcy law.
1 hope, however that it will prove a means
of protecting the university"
University Confident
1.-The fact that Thomas E. Waggaman
has been made defendant in bankruptcy
proceedings by three banks in Washington
will in no way affect his place as treasurer
of the Catholic University said the Rev.
A. P. Doyle of the Paulist Fathers last
night.
In driving through Washington and
especially in the suburbs the name of
Thomas E. Waggaman appears on signs in
almost every salable piece of property
This is the dull season In Washington and
Mr.. Waggaman. like good many other
large operators, has gone beyond his depth
But he will in time pull out safely and be
much better off ip the end.
There is no apprehension on the part OF
the officials of the university that there Is
any danger for the university Mr. Wag.
gaman has long been associated with its
interests and through him much of Its ma
terial success has been gained. He Is q
man of the strictest probity His act OF
Ming a deed of trust for SS76 1888 In favor
of the Catholic University proves his hon.
esty of purpose.
soiutely with the funds of the university
and l. personally. haven't the slightes,
doubt that he will continue to be the CHS.
todian OF the trea sury"