The herald., 1837-05-20

or extended or otherwseb been suspected ofdfculty in
business, there happened, by accident TO be in
cluded the names Of John Haggerty & Sons, and
three or four others. The Haggertys being large
auctoneers and possessing great influence by their
supposed wea th and intimate connection with the
banks, Immediately commenced prosecution for libel,
both criminal and civil against the editor who reported
their names. The criminal complaint was carried up,
torrent Of Indignation, to Grand Jury then sitting,
some of whom, singularly enough were on the same
list of failures the publication Of which had caused the
Haggertys TO institute these proceedings. Hit be
an indictable offence publish the list of the Grand
jury also we would say that the following are their
names and residences
NAMES PROFESSIONS REsIDs ScEs.
BACHE McEyERS, (FornN Merchant IS Broad street
THOMAS BARKER, Wheehrrgh, l45 Bowery
JOHN H. HICKS Merchant, go South street
PETER ScHEMERHoRs, Do 80 Wall street.
JAMES w SMITH, B.iider, 2st St 10th Av
RoRgRr CAxSLEy Timber Mer. 400 Grand st.
THOMAS SANDS, Grocer, 246 Delaney st.
sCoRNELIUs X. SUYDAM, Merchant, ~ Nassau ST.
THOMAS p. WALwoRTH, Bross Founder, 80 stanton 81
GEORGE BRUCE, Iron Founder, II N. Moore st.
GEORGE CARvILL, Bookseller loS broad"ay.
yops FfsYg Music Seller, l Franklin So.
EDWARD r. jones' Gentleman GO Broadway.
a...u,nIr Foy Com Mer., $50 Pearl street.
THOMAS FERG's LIVINGSTON, Gsntleman. 80 Walker St
DAsfEL f. TYLEE, Saring' Bank, ~ Chamber ST.
yoHs W. WALKER, Gentleman, l3f Franklin st.
JAMES DUAs LIVINGSTON, Do 10 Leonard 81.
This body of eminent and enlightened men-at
Once-with almost breathless hasie-as if a nations
being was at stake-found Bill oflndlctment against
the editor Of the paper for publishing list of nearly
500 hundred names, of bankers merchants brokers,
iobbers and loafers under the general title Of Bank
rupts for 1897" in which only about six were erro-
neous or contradicted.
TIL. r
in the statement that Haggerty & Sons had failed in
business--were insoIvent-or bankrupts-or worss
having a synonymous meaning. 1t is contended by
them that the statement false and the allegations
malicious. Let us examine these points
The term bankrupt" or "nsovent" as applied to
traders or any other person the state has exact or
precise IN. anng In language oil those words
are used synonymsusly. They are even frequently
applied TO persons in large business before they stop,
or shut up their doors have actually suspended ope
rntions Before the failure of the Jesephs, fire.
quently heard that they were "nsovent' or shank
rupL" This opinion was deduction from the fact
that the paper Of that firm selling in Wall street at
to per cent per month. Amy house or firm that per-
mts it's ewn paper sell the Of 25 to 50per cent
per annum believed, by great portion Of the COM
munity, to be nsolvent and bankrupt Whyl Be-
cause il house were solvent, its best business would
be to buy up its own paper at such rates. For the
same reason il highly probable that the report Of
the failure Of Haggerty & Sons originated in like
state of facts. Their notes paper securities have
been occasionally selling and shavingi Wall street at
to per cent per SMITH, and, in the present state
Of trade, the purchase Of their paper would be
better than their aacton business the public naturally
drew the conclusion that like the Joscphs so were
Haggerty Il Sons, pressed squeezed and pinched for
money TO meet their engagements, otherwise they
never would permit, their paper TO sell a, such runous
prices.
From these visws the technical crminaty Of re-
porting house, that permits its paper to sell at
20 to 30 per cent discount to have failed or to be in
solvent, dwindles down TO mere point, ending, in
many minds, in the absolute conviction Of decided in
sovency in such establishment utter ruin in less
than year from the first development Of such bus
ness.
But these are small isolated and personal matters
Of no sort Of momen, al this great crisis.
The extraordinary feature in these criminal pro-
ceedings is the singular development Of the moral
sense Of Grand Jury Of New York. in bringing an
indictment against individual for making four or
hve errorsn the publication Of list Of names and the
permitting the escape OF band of swindIers-a body
OF conspiraors-e group Of fraudulent cheatsand not
only TO escape, but TO allow them TO continue their
depredallons upon cheated insued and abused COM
munty. We ait1de 70 q, iohoie body Of bank mana
gers Of Mem York ,oho ha,, taken part in ths frou-
duienf suspension Of specie Payments. BY the laws
Of this state by the laws Of common scnse by every
law human and divine, conspirae, i, defrsud is a
cnme of the utmost detestation in ci, and CONNER
cial society. Who has forgotten the famous oon.p;.
racy trials of 1896 when a few individual. wc,.
brought up, indicted convicted and sentenced !, The
States Prison. for transactions, which, compared =
the present Ones drop Of water TO the ocean
fet IN those days the moral OF this community
was active, pure and energetic. wha, has become Of
the same spirit now7 whithsr has gone the virtue Of
past hmes7 Is single eitor to be brought up and
ind'c'ed ior single mistake in mans name, and The
great csnfederacy Of bscaers who impudently cseat
the community, to escspe7
The examination Of this great question in morals.
v justice IN right demands the deepest and mos,