The Washington herald., 1910-07-08
CREDITORS TO GET
FOURTH OF CLAIMS
Compromise Is Agreed Upon
in Waggaman Tangle.
COURT RATIFIEs AGREEMENT
By Terms of Proposition Catholic
University VIII Receive $3.50, 900
in Cash, Instead OF $s76, 18S-Joha
F. waggamAn Surrenders Claims
Amounting to e105,4s5.

Justice Stafford yesterday signed con-
ditional order of ratification of a PROPOSE
ton submitted TO him by which the
creditors Of the late Thomas E. wagga-
man. former treasurer of the Catholic
University. VIII receive % per cent Of
their claims, If they approve OF COM
promise agreed upon by II. R0zier Du-
lany. trustee OF the bankrupt Waggaman
estate with the Catholic University and
John F. Waggamen. brother Of ths late
Thomas E. Waggaman.
The signing of the order means thar
unless reasonable objections are pre-
sented before July 20 the compromise will
receive the sanction of the court.
Claims Total Million.
The Catholic University and John F.
waggaman we're two OF the principal
creditors. and had claims aggreeatiag
more than 100000 Attorneys Maddox
and Galley, counsel Tor the trustees, in
advising the acceptance OF the compro-
mise say that much credit Is duo their
clients for bringing about an agreement,
There are yet some notes which figure
IN the compromise 20 be realized on. as
well as the remaining holdings az Wood
ley and Cleveland parks. Distribution TO
the creditors will be made as soon as
these two sources can be turned into
cash.
The Catholic University. under the
terms Of the agreement. is to receive
about $4,000 In cash, in place Of its
claim, amounting to sS7s,isS,sS. John F.
Waggaman surrenders claims aggregat-
ing $l05, as. 81; agrees TO pay notes
amounting TO S120.650. which he had in
dorsed for the accommodation of Thomas
E. Waggaman; 70 satisfy other notes
made by him and indorsed by his brother
to the extent OF $3.50, and 10 assume
entirely a trust or $1,000 secured on lots
In Wesley Heights, owned jointly by the
brothers. Mr.. Dulany is TO cancel notes
OF John F. Waggaman aggregating SIS. 800.
end TO make no claims against him on
account of notes purporting 10 have been
made by him.
VIII Net s534,OOO.
MIR. Dulany advises the court that after
settling with the Catholic University and
Mr.. Waggaman on the terms proposed
the proved claims against the bankrupt's
estate will be reduced to 81, $50. I7SOs The
cash In his hands and the assets. esti-
mated at a value far below the appraisal
made by the official appraisers. viii net
s5s4. 900.
Mr.. Waggaman, according TO Attorneys
Maddox and Galley. virtually surrender
ed $4,000 10 the creditors OF his brother.
On his part Mr.. Dulany agrees 10 hand
over TO John +. waggaman for eancella-
ton notes Of the face value OF $50, 800.
Among these are notes amounting to
| SIS, 200 held by the Catholic University
which the latter tsied 10 establish In
court A verdict in favor OF uJohn F.
Waggaman was directed by the trial
court. but on appeal this judgment was
| reversed, and the case stands on the cal
endar for retrial.
John F. Waggaman, under the compro-
mise, retains his fourth interest in Wood
/ ley, after the payments of the trusts OF
the property. and a half interest in the
Wesley Heights lots. belonging 20 hin
| and Thomas E. Waggaman in equa
shares. AS 20 all other claims, John F
Wagganaan is to rele&se the trustee.
from all obligations 10 the bankrupt es-
tate, and Mr.. Dulany will make no fur.
Their demands on him.