An Israelite without guile, doing business down in Chatham
Street, New York, called his creditors together, and offered
them in settlement his note for ten per cent on their claims,
payable in four months. His brother, one of the largest
creditors, rather “kicked”; but the debtor took him aside
and said, “Do not make any objections, and I will make you
a preferred creditor.” So the proposal was accepted by all.
Presently, the preferred brother said, “Well, I should like what
is coming to me.” “Oh,” was the reply, “you won’t get anything;
they won’t any of them get anything.” “But I thought I was a
preferred creditor.” “So you are. These notes will not be paid
when they come due; but it will take them four months to find
out that they are not going to get anything. But you know it
now; you see you are preferred.”--HEMAN L. WAYLAND.
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