CHAPTER XXVI

The wisdom of Dan’s course in announcing the insolvency of Casson and Pritchard before the announcement should be forced from him by the firm’s creditors was fully manifested at the meeting of the creditors. Each creditor had received a copy of the firm’s trial balance and the schedule of assets and liabilities; also a copy of Dan’s proposed plan of settlement and reorganization. The settlement contemplated a payment of twenty-five per cent on all liabilities at once, with a three-year extension on the balance due,…