Barnum therefore turned over his Bridgeport property to Connecticut assignees, moved his family to New York, and made an assignment there of all his other property, real estate and personal effects.
About this time he received a letter from Philadelphia proffering the loan of $500 in case he really was in need. The wording of the letter made Barnum suspicious that it was a trick to ascertain whether he really had any property or if he made an honest settlement to the best of his ability. To this letter Barnum replied that he did need $500, and as he had expected the money never came.
But the Philadelphia banks which were holding the Jerome paper for a higher percentage, at once acceded to the terms which Mr. Barnum had announced himself able to pay,
Every dollar which he owed on his own account he had already paid, and for the liabilities incurred by the swindle which had involved him he offered such a percentage which he thought his estate, when sold, would eventually pay. Mrs. Barnum also gave up certain portions of her own property to redeem such notes as could be secured upon these terms.
They went to live in a hired furnished house in New York, the landlady and her family boarding with them. At forty-six Barnum found himself once more at the foot of the ladder—beginning life anew.
"The situation is disheartening," he said, "but I have experience, energy, health, and hope."
CHAPTER XXVI. IDLENESS WITHOUT REST.
ANNOYING PERSECUTIONS OF CREDITORS—SUMMER ON LONG ISLAND—THE
BLACK WHALE PAYS THE BOARD BILL—THE WHEELER & WILSON COMPANY
REMOVE TO EAST BRIDGEPORT—SETTING SAIL FOR ENGLAND.
In the summer of 1855 Barnum had sold the American Museum to Messrs. John Greenwood, Jr., and Henry D. Butler. They paid nearly twice as much for the collection as it had originally cost, giving notes for nearly the entire amount, securing the notes by a chattel mortgage, and hiring the premises from Mrs. Barnum, who owned the Museum property lease, and on which, by agreement of the lessees, she realized something like $19,000 a year. The chattel mortgage was, of course, turned over to the New York assignees with the other property.
Barnum's widespread reputation for shrewdness was, in his present difficulties, destined to be the cause of considerable annoyance to him. Certain outside creditors who had bought clock notes at a tremendous discount, believing that Barnum's means were still ample, made up their minds that they must be paid at once without waiting for the sale of the property by assignees.