Nia
Of
DEMANDED HIS
William T. Cornell's Story of the
New York Farmer and His Sud
denly Acquired Fortune in
Railway Bonds.
"In an experience of a quarter of a
century as a banker, I witnessed the
effect in several cases of a sudden ac
cession of great fortune, and in two
or three cases the reverse effect of
the sudden loss of fortune," I was
once told by the late William T. Cor
nell, at one time president of an im
portant trust company in New York.
"But I think the strangest. of all the
experiences was one that happened
at the time I was cashier of the old
Union bank in New York, an institu
tion which is no longer in existence.
That experience knocked galley west
niy preconceived notion that a poor
man who suddenly came into posses
sion of a considerable fortune would
be so bewildered or excited that for a
time he would not know whether ha
was on foot or on horseback.
"There camo into the Union bank
one day in the late seventies a decid
edly rustic looking man, who was, I
should say, about forty years of age.
wore me conventional cmn wniS'Sfc
ker and there was a decided twang
in his voice. Ho was apparently sus
picious of everybody. He asked for
me, and when I had gone to him said
that he was a little curious to know
whether the bonds of an old railroad
company, whose name he mentioned,
were worth a copper or not.
" 'I will look the matter up,' I said,
Tut it is my impression that the rail
road has been absorbed by the New
York Central.'
"'Well,' said he, "just for the fun
of it, and because I'm a leetle curi
ous, suppose you find out and let me
know. I'll com? in again by and by,
or I'll sit right down here and wait.'
"It was easy to see that the man
was not inspired by pure curiosity.
I therefore made inquiries, and speed
ily learned that the time Commodore
"Vanderbilt took over some of the rail
roads of western New York, incorpo
rating them into his New York Cen
tral system, there was among the
number one which was built from
Buffalo southerly. It had been built
upon stock subscriptions from the
sale of bonds to the people of the dis
trict through which the railroad ran.
The commodore offered to take up
the underlying bonds and to pay for
them in cash or with stock in the
Central. He secured all of the bonds
except one block. This block repre
sented a face value of $60,000 al
though I learned that when the bonds
were marketed they were sold for
s.bout 50 cents on the dollar and the
commodore advertised for ft and
caused his agents to hunt high and
low for it, but could get no track of
it. Still, those bonds were a lien on
the property, and would be until paid.
"I tcld the rustic that I thought the
bonds to which he referred could be
easily Eold for cash, and he asked me,
'How much can anybody get for
them?' I took him over to a firm of
brokers, who represented the commo
dore in New York Central matters,
rind after a long siege with the stran
ger we got him to admit that he had
the missing bond3 somewhere in hi3
pocket.
TALE OF A FAMOUS SOLDIER
!sjcr General Thorr.a3 Refused to At
tack Hood's Army Until Conditions
Were Such That Success
Was Certain.
Cn December 14, 1831, after a battle
lasting two days, Major General
George II. Thomas, who, in September
of the previous year, had just gained
the title of "Tho Rock of Chtcka
rccuna." crushed the Confederate
army commanded by Gen. John B.
Hoed, so that it was not heard of
sgain in the Civil war. And it was
this groat victory, which history knows
as the battle of Nashville, that led to
the immediate appointment of Thomas
as a major geueral in the regular
ariay and led congress to give him a
vote of thanks.
General Thomas' right hand man in
thi3 conflict was Maj. Gen. Andrew
J. Smith, one of the most gallant and
able generals in tho war, the man who
saved Banks' army on the Red river,
vho was a terror to Price, Van Dorn,
and ether Confederate chieftains, and
who, at the battle of Nashville, dis
played such great gallantry and merit
that he was brevetfed major general
In the regular branch of the army.
Resigning from the regular army in
1SG3, General Smith became postmas
ter of St. Louis, and while he was a
resident of that city he and James N.
Brown, also a St. Louisan and a sur
viving veteran of the war, many times
talked over their fighting days. It was
on one of these occasions that Gen
eral Smith told his companion of his
meeting General Thomas just before
the battle which annihilated Hood's
army.
"I was ordered to take my com
mand, which waa the Sixteenth Army
corps, and go by boat from St. Louis
to reinforce Thomas," said General
smith. "When we got to Hcrpeth
f.hoal in tho Cumberland river, some
New
ifenr
$60,000 IN CASH
"Well, to make a long story short,
he negotiated all that day with the
brokers, and they, having found out
by telegraph that the man was re
liable, at last agreed to pay him a
hundred cents upon the dollar for the
bonds, and made out a check for $60,
000. One of their employees
came to our bank with the man and
the check. I asked the man if he
wouldn't like to take a draft on Buf
falo for the amount, telling him that
he could conveniently carry it in that
form and get the money In Buffalo.
" 'Look here,' said he, 'is that piece
of writing "good for $60,000?'
" It certainly is, I said.
"'Well, then, I want' $60,000, and I
don't want any writing. I want
money that I know about.'
" 'It may be dangerou for you to
carry so large an amount upon your
person,' I said.
" 'There ain't nobody slick enough
to get that money away from me,' he
replied. 'I just want to see what
$60,000 looks like, what it feels like,
and whether it breaks my back to
carry it around with me. I never had
more than $60 at one time in money."
L "We cashed the check and gave
him bills of large denominations. He
handled each bill as though it were a
treasure, closely scrutinized !' "and
placed it with the others in a pieee of
brown paper of the kind shopkeepers
do up parcels in. Then he tied up
the paper parcel with a stout cord,
took a little chain from his pocket,
fastened one end of it to the cord
and the other to his wrist and went
away.
"He got home safely, I afterwards
WASHINGTON IRVING'S FAILURE
Arrserican Author Broke Down While
Greeting Charles Dickens at Din
ner in New York, but English
man Comforted Him.
"When Charles Bickens was mak
ing his first visit to the United States,
in the latter part of 1841 and early
part of 1812, he spent some days in
New York city," said the late Parke
Godwin, son-in-law of William Cullea
Bryant, whose career as a journalist
and author dated back to 1837. "After
his return to England, Dickens pub
lished, I think in the year 1814, his
novel 'Martin Chuzziewit,' in which
so many chapters are devoted to the
characterization of some of tho crude
personalities in American life as he
had met them.
"Some of my literary friends, after
the publication cf 'Martin Chuzziewit,'
attempted to identify several of the
places mentioned in the book, and we
did establish to cur own satisfaction
the identity of the boarding house at
which Martin Chuzziewit and Mark
Tapley were entertained after they
came to New York. We also tried to
identify the original of the character
of Jefferson Brick, the newspaper man
whom Dickens so vividly caricatured,
and finally we made up our minds that
Brick was a composite of several
newspaper men who were rather of
ficious and presumptuous in their ap
proaches to Dickens. Jefferson Brick
40 miles from Nashville, we , could not
get ever on account of low water, so I
landed my men and marched them
overland. I reached Nashville a day
in advance of my army, I had not
met Thomas since wo had left West
Point and had to introduce mysslf to
him. He grasped my hand and gave
me a hearty, warm greeting and at the
same time asked where m;- command
was, which I said would be up the next
day.
"With much concern in his voice
he replied: T wish they were here
now.'
"I inquired: 'Why the urgency?'
" 'They are giving me h 1 down in
Washington.'
"'What Is the matter?' I asked.
" 'Stanton and Halleck have been
telegraphing me everyday to attack
Hood and drive him away, but I have
not been ready, and because I believe
my force now here insufficient, I have
not complied with their orders, for I
believe they do not understand the
situation. But, here is an order from
Grant to attack AT ONCE.'
"I asked Thomas what the situation
wa3, and he explained his position and
forces by taking me up to Fort Neg
ley, where we could see the lines of
both armies. After a careful examina
tion of the works, and-comparing his
army with 'Hood's, I turned to him and
said: 'Thomas, you are right and
Grant 13 .wrong, and if Grant were
here he woujd say so.' -
"Immediately- Thomas reached over
and grasped "my hand, and the vigor
of his acticn convinced me that he
fully meant what he said a3 he an
swered: 'Now, Smith, that I have your
approval we will take our time, and
when we go after Hood we will be
sure to succeed. "
And that is just what ttey did.
(Ccpyrigl't, 1010, by E. J. Edwards. All
Rights Reserved.)
learned. But he kept tho money in
his house, paying it out from time to
time for farms and lands he bought
or took mortgages upon. It seemed
that the man's father, unbeknown to
anybody in his family, had bought
the bonds at the time they were is
sued and hidden them away in the
house, and died without saying any
thing to anybody about it. He had a
miser's hoard from which he drew to
pay for the bonds. In rummaging
around the attic, preparatory to mak
ing some repairs, the son found hla
short cut to riches."
(Copyright, 1310, by E. J. Edwards. All
Rights Reserved
On Men.
And that leads me to say that men
often remind me of pears in their
way of coming to maturity. Some
are ripe at twenty, like human Jargo
nelles, and must be made the most of.
for their day is soon over. Some
come into their perfect condition late,
like the autumn kinds, and they last
better than the summer friut And
some that like the Winter-Neils, have
been hard and uninviting until all the
rest have had their season, get their
glow and perfume long after the frost
and snow have done their worst with
the orchards.
Beware of the rash criticism; the
rough and astringent fruit you con
demn may be an autumn or a winter
pear, and that which you picked up
beneath the same bough, in August
may have been only its worm-eaten
windfalls. Milton was a Saint-Germain
with a graft of the roseate
Early-Catharine. Rich, juicy, lively,
fragrant, russetlinner old Chaucer
was an Easter-Beurre; the buds of a
new summer were swelling when he
ripened. Holmes.
was, it i3 true, a caricature, but he
was a caricature which had much
of truth in it.
"But the event associated with Dick
en's first visit to the United States
which I always remember with espe
cial interest was the grand dinner ten
dered to him by the leading citizens of
New York. I think I am almost the
only man now living who had part In
that entertainment." It was in 1897
that Mr. Godwin told me this anec
dote. More than 50 years had passed
since that dinner took place.
"It was known in New York that
Dickens greatly admired some of the
writings of Washington Irving," con
tinued Mr. Godwin. "The story of 'Rip
Van Winkle' ho regarded as a gem of
fairy tales. He concurred in the Amer
ican judgment that Irving was fore
most among American literary men.
So it was thought that Bickens would
be especially gratified if Irving were
called upon to preside at the great
banquet, and that opinion was correct.
"I remember, however, that several
of tho gentlemen who made the ar
rangements for 'the dinner were in
great doubt as whether Mr. Irving
would consent to preside or not. They
were sure that he would gladly be
present, but they thought It would
need much persuasion to induce him
to accept the post of presiding host.
That doubt arose from the fact, then
well known, that Mr. Irving could
never be prevailed upen to make a
speech. He had made one or two
attempts earlier and had broken down.
"Irving, who had just recently been
appointed minister to Madrid, was liv
ing in a small two-story house in Irv
ing place, and when the dinner com
mittee called upon him there and
asked him to preside at tho dinner he
absolutely declined. Indeed, not until
several visits had been made to him
was he at last prevailed upon to ac
cept the post, when he said, half re
luctantly, that he would write a little
speech of welcome and commit it
thoroughly to memory, but that the
committee would have to rely upon
some one else to make the chief ad
dress of the evening.
"Mr. Irving never looked better or
seemed more confident of himself than
when the distinguished company wes
assembled at the table. Dickens eat
at his right hand. The company was
very merry and companionable. Dick
ens himself was in high spirits.
"When Mr. Irving rapped for crder,
and having secured it, stood' before
the company to make the opening ad
dress, every one was sure that he had
conquered his innate modesty. He be
gan in a clear, distinct voice, -but he
had spoken only four or five words
when his voice trembled, embarrass
ment came upon him, and with a curi
ous gesture of despair he sank into
his seat, his speech unfinished. Dick
ens had been warned that Irving
might break down, so that he was pre
pared for this catastrophe. Quietly,
he leaned over and whispered some
comforting words to Irving no one
ever knew what they were and the
feast went on a3 though nothing had
happened.
"Dickens understood tho tempera
mental difficulty which made it Im
possible for Irving to speak in pub
lic. Ho told some of his friends that
it was not uncommon for men who
had written great literature to be
mute when in the presence of many
people."
(Copyright, 1310. by E. J. Edwards, Al'
Eights Reserved.)
S HERE 10 STAY
Control and Publicity for Publis
Service Corporations.
VERDICT OF PROMINENT MAN
Theodore N. Vail, President of West
ern Union and Telephone Compa-.
nles, Recognizes Rights of the
American Public.
Public regulation of public service
corporations has come to stay. It
ought to have come and it ought to
stay. That is the flat and unequivocal
assertion of Theodore N. Vail, presi
dent of both the American Telephone
and Telegraph company and the West
ern Union Telegraph company. It
came in the form of his annual re
port to the seventy thousand stock
holders of the two great cerporations.
Although Mr. Vail's advocacy of full
publicity in connection with the affairs
of such concerns was well understood,
nobody In financial circles had antici
pated so frank an avowal of full pub
lic rights in the shaping of their gen
eral conduct It camo consequently as
a surprise, not only because of its
novelty and squareness, but also on
account of the unqualified acquies
cence of a board of directors compris
ing such eminent and conservative
financiers as Robert Winson, of Kid
der, Peabody & Co., and Henry L.
Higginson of Boston, Henry P. Davi
son of J. P. Morgan & Co.; Senator
W. Murray Crane, George F. Baer,
T. Jefferson Coolidge, Jr., Norman W.
Harris, John I. Waterbury and others.
President Vail's declaration is her
alded as the first recognition by those
in high corporate authority of the jus
tice of the demand that the public
be regarded as virtual partners
in all matters that pertain to tho com
mon welfare. He goes directly to the
point.
"Public control or regulation of pub
lic service corporations by permanent
commissions," he says, "has come and
come to stay. Control or regulation,
to be effective, means publicity;
it means semi-public discussion and
consideration before action; it means
everything which, is the oppo
site of and inconsistent with effective
competition. Competition aggressive,
effective competition mean3 strife,
industrial warfare; it means conten
tion; it oftentimes means taking ad
vantage of or resorting to any means
that the conscience of the contestants
or the degree of the enforcement of
the laws will permit.
"Aggressive competition means du
plication of plant and investment. The
ultimate object of such competition
is the possession of the field wholly
or partially; therefore it means eith
er ultimate combination on such
basis and-with such prices as will
cover past losses, or it means loss of
return on investment, and eventual
loss of capital. However it results,
all costs of aggressive, uncontrolled
competition are eventually borne,
directly or indirectly, by the public.
Competition which is not aggressive,
presupposes co-operative action, under
standings, agreements, which result
In general uniformity or harmony of
action, which, in fact, is not competi
tion but Is combination, unstable, but
for the time effective. When thor
oughly understood it will be found
that 'control' will give more of the
benefits and public advan;ages, which
are expected to be obtained through
such ownership, and will obtain
them without the public burden of
either the public office-holder or pub
lic debt or operating deficit .
"When through a wise and judicious
state control and regulation all the
advantages without any of the disad
vantages of state ownership are se
cured, state ownership is doomed."
"If Mr. Vail is right," says
Harper's Weekly, In a concise summing-up,
"then it seems pretty plain
that, we are entered upon a new era la
both economics and politics. And It is
high time we did if evolution is to
supplant revolution as an efficient
force in the development of civiliza
tion." Fighting Man.
It is man's nature to fight. It is his
merit to fight for what he believes to
be right. Courage and bravery are
not achieved by hiring a lavyer. A
man who is not willing to fight to the
death for the right or for bi3 own i3
not as good or complete a man as one
who is is willing. But opinions about
this are not so important as the fact
that it is man's nature to fight, and
that neither resolv" nor legislation
nor provision to get over all kinds of
trouble In any other way than fighting
will avail. Ellwood Hendricks, in At
lantic. More to the Purpose.
"Are you in favor of a ten-houi
day?"
"I don't care anything about tho
days," replied young Rounderley, "but
it would be a jolly good thing if w
could have 24-hour nights."
Misguided Energy,
"I am bound to make a noi3e in the
world," said the determined youth.
"But be careful how you go about
it," replied Mr. Osage Spouter. "An
amateur with a bass drum can spoil
the finest symphony ever written."
Joyous Economist.
"You don't mind high prices?"
"No," replied the resolute phllosct'
pher. "When prices are high, think
tow much more you save every time
you decide to get along without som
thing."
TAR HEEL PUBLIC TALK
5REAM OF CURRENT COUNTY
EVENTS CLIPPED AND CON
DENSED IN A COLUMN.
Southern Pines. The sand hill
country In the lower part of the state
Is attracting agriculturists from all
sections.
Hickory. If consolidation of Lenoir
college and Mount Pleasant institute
goes through, the name of the college
will probably be changed.
Charlotte. The vital statistics for
the month of March have just been
issued and show that a total of 42
deaths occurred in the city during the
month.
.Elizabeth City. The chamber of
commerce is considering a proposi
tion from a manufacturer of airships
to locate a plant for building the air
birds in the city.
Atlanta. Resolutions thanking Sen
ator Overman, of North Carolina, for
his support of legislation favoring
the dentists were adopted at the an
nual meeting of the National Dental
association.
Goldsboro. Wayne county's oldest
citizen, Mr. William Howell, familiar
ly known for his military record, run
ning back beyond the Mexican to the
Indian wars, as "War Bill' Howard,
died here at the age of 105 years.
Durham. Gen. Julian S. Carr has
accepted an invitation to speak to
the Sons of the Confederate Veterans
Camp of Houston, Halifax county,
April 17.
High Point. The Guilford County
Medical society, which met here in
the Manufacturers' club rooms, was
well attended. "Nephritis", was the
general subject for discussion and
elicited much interesting discussion.
Dunn. Perhaps the greatest prep
aration and the most fertilizers that
has ever been known used In this
section, will be done this spring,
farmers have been working. One
firm here sold 15 car loads of mules.
High Point. Governor Kitchln de
livered the annual literary address at
old Trinity high school commence
ment in the old Trinity college chapel.
Wilson. The Wilson Sunday
School association has made great
progress since its formation four
years ago. From 16 schools with an
enrollment of 1,300 schools, it now
has 26 schools with a membership of
,237.
Elizabeth City. The board of al
dermen awarded the entire issue of
$120,000 in municipal improvement
bond3 to S. A. Kean & Co., Chicago,
at par and $1,224 premium.
Lenoir. There is a project on foot
here with a view to grading a good
road to the top of Hibriten mountain
a distance of iour or nve nines
southeast of Lenoir. From the sum
mit of this peak can be seen on a
clear day nearly all the towns within
a distance of 25 miles.
Salisbury. Rev. W. H. Bell, form
erly pastor of the Reformed church
at Lenoir, arrived at Crescent and
entered upon his dutes as superinten
dent of Nazareth orphanage, the or
phan's home of the Reformed church
In North Carolina.
Southern Pines. Thirty-five . new
families are arranging to settle cn
farm3 they have bought near Mont
rose recently. They will commence
on the new farms along in the late
summer after the cotton is laid by at'
their present homes. Most of these
people are from Anson county.
Henderson. The Andrew Jackson.
monument, given by the Daughters of
the American Revolution, and recent
ly erected at Waxhaw, was un
veiled with imposing ceremonies on
the 12th of April by tho North Caro
lina division of that order. There
are 16 chapters and 513 members in
the State of North Carolina.
Southern Pines. A meeting cf del
egates from the local Farmers' unions
will be held at Carthage the first
week in May to arrange for a general
gathering of unicn farmers on July
It is planned to make the July
event one of unusual importance, and
speakers cf prominence will be invited
Charlotte. A program of unsual in
terest has been arranged for the ap
proaching commencement of the
North Carolina Medical college. It
will begin Sunday morning, April 30,
with the baccalaureate sermon in
tho Second Presbyterian church by
the pastor, Rev. A. A. McGeachy.
Twenty-eight men constitute the grad
uating class.
Henderson. The Carolina Light
and Power company is now having
tho line from Raleigh to Henderson
surveyed and expect to have all work
completed by early fall.
Goldsboro. Relatives of Mr. Bur- !
ton W. West, who died a few weeks
ago, near the Eureka section of this
county, report that while seme of
the family were searching about the
house they were agreeably surprised
to find $3,000 in currency which had
been hid away by the deceased, $1,
400 was found in an old chest and
$1,600 in a tin can concealed in the
house loft.
Winston-Salem. Governor W. W.
Kitchln will make the literary ad
dress in connection with the 109th
annual commencement exercises of
Salem Female college, which will
open May 20, and close May 24. The
baccalaureate sermon will be preach
ed by Dr. H. H. Hulton, pastor First
Baptist church, Charlotte.
Washington. Washington patent
attorneys report tho grant to citizens
of North Carolina, the following
patents: L. J. Hine, Winston-Salem,
spike or fastener; L, B. McDonald,
Reeky Mount, fruit picker; T. D.
Owen, Shcals, spring hec-k.
TAXOHTHEFARMERS
THE' COTTON BAGGING AMD TIE
COMBINES PLANS TO IN
' i CREASE LEVY.
Aft APPEAL TO CONGRESS
.,. ... ,
M. f -
N$w Orleans Cotton Exchange Sends
Letter to Every Congressman
Urging Them to Place Bagging and
Ties on Free List.
New Orleans. That the cotton
bagging and its trusts arc planning
to increase their levy on the cotton
crop to $2,800,000 annually is de
clared in resolutions adopted by tho
New Orleans cotton exchange. Tho
ro.solutioussa'ppeal to congress to
place bagging and ties on the free
list and urge tho enactment of the
necessary legislation at the present
extra session of congress. Presi
dent V. B. Thompson of tho cotton
exchange,, in a letter which he ad
dressed to each member of con
gress, tells of the great importance
to the South.
He says in part: "The cotton
crop of the South yields annually
an average of about 12,000,000 bales,
of this total approximately five
eights, or 7,500,000 bales, represent
ing an average money value of over
55500,000,000, are exported and ex
changed for foreign gold. The mere
statement of these facts attests the
importance of the cottoif produc
ing industry, emphasizes the obliga
tion which the country at large
owes the producer of. this crop and
establishes his right to at least just
treatment at the hands of the gen--
cral law-making power.
"Under the present tariff law tho
duty on steel cotton ties amounts
to .027 cents per bale of to $324,-
000 on the crop of 12,000,000 bales.
This tariff is prohibitive, as is shown
by the fact that no steel ties are
imported. Therefore the govern-;
ment has no share in this impost
which continues simply and solely
tribute levied upon the cotton far
mer for the benefit of tho cotton
tie trust.
"The duty on jute bagging impos
ed by the present tariff law
amounts to .05 cents per bale or to
$030,000 on the crop of 12,000,000
bales. This tariff is to a large ex
tent prohibitive inasmuch as it
yields only about $100,000 revenues
to the government. The balance of
about $453,000 constitutes a tribute
paid by the cotton farmer to the
bagging trust.
"But the bagging trust is not sat
isfied with its share of this impost.
It desires to raise the duty to a .
figure which will not only prevent
the government from receiving any
revenue therefrom, but will enable
the trust to take from the farmer
four times as much as it has been
able to take heretofore.
"From the reasons stated it will
ineontestably appear that not only
the proposed outrage but the
present tax on bagging and ties is
iniquitable and wrong; and because
the Western farmer has now and
has had for more than fifteen years
his binder twine on the free list, tho
tax upon the Southern farmer
stands condemned of the additional
vice of discrimination."
"Three-Cent" Tom Johnson Dead.
Cleveland Tom L. Johnson, twice
congressman from the 21st Ohio dis
trict, four times mayor of Cleve
land, champion of three-cent street
railway fare and prominent advo-'
cate of the single tax theories of the
late Henry George, after a long ill
ness, ueain was caused Dy cirrno
sis of the liver. He was 57 years
old.
Tom L. Johnson once referred to
himself in a public address as "a
stormy petrel" and this metaphor
aptly described him and indicated
the course of his career. From the
lime he entered the office of the
Louisville Street Railway company
as a boy of 15, until his defeat for
a fifth term as mayor of Cleveland
on November 2, 1909, he was ever
in the center of some storm, poli
tical or financial. And ho often said
it was thus that he enjyed himself
best. . '.
Must Admit Colored Women.
Ithaca, N. Y. President Jacob Q.
Shurman of Cornell university
brought to an end the controversy
which has been in progress for a
few weeks over admitting negro
women students to bage college
dormitory. In a statement isssued
to Mrs. G. S. Martin of the womens
advisory council, ho says that all
negro women students are to be ad
mitted to the privileges of the wo
men's dormitories if they -request
admission. This settles the question
for a time at least.
Potash Controversy Unsettled.
Washington. The potash contro
versy between Germany and the
United States, which is of so much
impotance to the consumers of com
mercial fertilizers in this country,
remains unsolved, and the various
members of Congress from the
South are being pressed' by their
constituencies to urge that some
thing definite bo done by the de
part ment of slate tu bring this mat
ter io a close. Congressman Lever
wrote a etrongr appeal to the depart
ment, urging a hasty settlement.