The steps taken by Molineux, and agreed to by the bankrupt, were as follows: The suit relating to the mortgage on the property in the Faubourg du Temple having been won in the courts, the assignees decided to sell that property, and Cesar made no opposition. Du Tillet, hearing privately that the government intended to cut a canal which should lead from Saint-Denis to the upper Seine through the Faubourg du Temple, bought the property of Birotteau for seventy thousand francs. All Cesar's rights in the lands about the Madeleine were turned over to Monsieur Claparon, on condition that he on his side would abandon all claim against Birotteau for half the costs of drawing up and registering the contracts; also for all payments on the price of the lands, by receiving himself, under the failure, the dividend which was to be paid over to the sellers. The interests of the perfumer in the house of Popinot and Company were sold to the said Popinot for the sum of forty-eight thousand francs. The business of "The Queen of Roses" was bought by Celestin Crevel at fifty-seven thousand francs, with the lease, the fixtures, the merchandise, furniture, and all rights in the Paste of Sultans and the Carminative Balm, with twelve years' lease of the manufactories, whose various appliances were also sold to him. The assets when liquidated came to one hundred and ninety-five thousand francs, to which the assignees added seventy thousand produced by Birotteau's claims in the liquidation of the "unfortunate" Roguin. Thus the total amount made over to Cesar's creditors was two hundred and fifty-five thousand francs. The debts amounted to four hundred and forty thousand;
consequently, the creditors received more than fifty per cent on their claims.
Bankruptcy is a species of chemical transmutation, from which a clever merchant tries to emerge in fresh shape. Birotteau, distilled to the last drop in this retort, gave a result which made du Tillet furious.
Du Tillet looked to see a dishonorable failure; he saw an honorable one. Caring little for his own gains, though he was about to get possession of the lands around the Madeleine without ever drawing his purse-strings, he wanted to see his old master dishonored, lost, and vilified. The creditors at the general meeting would undoubtedly show the poor man that they respected him.
By degrees, as Birotteau's courage came back to him, Pillerault, like a wise doctor, informed him, by gradual doses, of the transactions resulting from his failure. These harsh tidings were like so many blows. A merchant cannot learn without a shock the depreciation of property which represents to him so much money, so much solicitude, so much labor. The facts his uncle now told him petrified the poor man.
"Fifty-seven thousand francs for 'The Queen of Roses'! Why, the shop alone cost ten thousand; the appartement cost forty thousand; the mere outlay on the manufactories, the utensils, the frames, the boilers, cost thirty thousand. Why! at fifty per cent abatement, if my creditors allow me that, there would still be ten thousand francs worth of property in the shop. Why! the Paste and the Balm are solid property,--worth as much as a farm!"
Poor Cesar's jeremiads made no impression upon Pillerault. The old merchant took them as a horse takes a down-pour; but he was alarmed by the gloomy silence Birotteau maintained when it was a question of the meeting. Those who comprehend the vanities and weaknesses which in all social spheres beset mankind, will know what a martyrdom it was for this poor man to enter as a bankrupt the commercial tribunal of justice where he once sat as judge; to meet affronts where so often he had been thanked for services rendered,--he, Birotteau, whose inflexible opinions about bankruptcy were so well known; he who had said, "A man may be honest till he fails, but he comes out of a meeting of his creditors a swindler." Pillerault watched for the right moment to familiarize Cesar's mind with the thought of appearing before his creditors as the law demands. The thought killed him. His mute grief and resignation made a deep impression on his uncle, who often heard him at night, through the partition, crying out to himself, "Never! never! I will die sooner."
Pillerault, a strong man,--strong through the simplicity of his life, --was able to understand weakness. He resolved to spare Cesar the anguish of appearing before his creditors,--a terrible scene which the law renders inevitable, and to which, indeed, he might succumb. On this point the law is precise, formal, and not to be evaded. The merchant who refused to appear would, for that act alone, be brought before the criminal police courts. But though the law compels the bankrupt to appear, it has no power to oblige the creditor to do so. A