Year: 1876

twill be seen by reference to proceed
ings printed elsewhere of a meet
ing of the creditors of Ex-Governor
Shepherd last night that it was
unanimously agreed to award him an
extension of time upon his Indebtedness
sufficient 10 allow him to recover from his
present embarrassment. This will be Joy,
full news to every citizen of the Districtof
Columbia. 1t is the most convincing at
testation of the honor Of the man that could
possibly have been given. 1t should silence
all calumnious charges of fraud and cor
rupticn with which the Ishmaelitish press
Of the country has been filled against him
for years past. 1t is too much to expect
it will do so, however, for


He who is convinced against his will


Is of the same opinion still"


But all honorable men of business will ex
onerate him from these calumnies. This
popular verdict rendered thus promptly by
his creditors in dollars and cents, will be
more effective as vindication of his pro-
bity and onor than all the reports of Con
gressional committees in the land. 1t will
bC SECAl Allab w. SASpACtu las COuH
veyed by iced, in which his wife joins by
the rcliUquishment Of her right of do wer,
all Of his real and personal estate, except
ing only his interest in his store and the
business connected Herewith, in trust to
secure the payu.rut of his Indebtedness,
which will he represented by an issue of
bonds in the denomination of one hundred
dollars and the multiple Thereof, bearing
interest, afIer the expiration of one year,
at five per centum per annum, payable an
nually. These bonds will be taken by the
creditors in satisfaction of their accounts.
The dover rights relinquished by Mrs.
Shepherd exceed by four hundred per cent.
the interest of her husband in his business
firm, which is exempted from the terms of
the deed. The assets covered by the deed,
counted at their assessed valuation-which
is considerably under their cash value
exceed the liabilities of Mr.. Shepherd by
nearly half million of dollars Mr.. Shep-
herd is to have the entire and untrammeled
control and management Of his property,
the same as heretofore, and the trustees are
empowered to execute deeds of release to
the property when sales and transfers are
made, to enable him to give clear titles,
upon receipt of the proceeds.


We congratulate Governor Shepherd
upon this release from his temporary diff
culties, 50 honorable alike to his creditors
and to himself We congratulate the citi-
zens OF the District upon so fortunate an
escape from what threatened to become to
them public calamity. In doing this we
cannot withhold our commentator of the
manly courage and graceful unanimity with
which the creditors Of Governor Shepherd
have accorded to him The opportunity he
sought from them, to be permitted to work
out his OWE recovery from his unfortunate
predicament; and we are glad to be able
TO add that of the ninety per cent. OF his
creditors present upon this occasion those
TO whom he was the most heavily indebt-
cd were gentlemen from abrOad-lotably
Walton Brothers, not citizens OF this Dis
trict, but from The cities of New York, Bos-
ton and delseWheTC-were the first 10 sign the
terms of the agreement, ami that they did
it Cheerlully and with alaCrity. They
added tiatterirg compliments to the bust
ness talents AID capacity and honor of Mr..
Shepherd, which were appauded by his
District creditors as they all followed with
their signatures. 1t is matter of credit
to Ex-Governor Shepherd that no portion
Of his Indebtedness was due to the laboring
classes Of the District, so mauy of whom
he has for long time kept employed. 1t
was one of bis most rigid practices to pay
these classes their dues each Saturday
night, and this practice was adhered to
until he stopped work 10 relrrange his
affairs. All honor to him for this. No
distress will come to the poor through his
misfortune. The whole District will
breathe more freely to-day. A dark cloud
has been lifted from its commercial horizon
which porleuded g fearful storm.