The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-10-06
Superior Court.
Before Judge Oakley.


THURSDAY, Oct. o. Campbell p. While vs. Thomas Suf.
fern-This is action of fraud. The will be bet
ter understood by giving in full the testimony Of the
brother of the plaintiff who also sufferer in the trans
action.
ROBERT wHITE-I AN the brother of the Plaintiff
the cashier of the Manhattan Bank in this city, and
acquainted with the defendant On about the 18th
August 1885, he proposed TO me to join him in the pur
chase OF 1000 shares OF the New York State Marine To-
surance Company. He told mo that the stock very
low in the market-that was quoted at about IS So
he knew it to be worth than par the books
certain money could be made by 1.-THE said he was
perfectly acquainted with the company and its officers
its stock. That the Company in prosperous condi-
on and doing good business; that they would shortly
make dividend, which dividend and the number of
shares taken out of the market would enable them (wt
and defendant to sell out in short time hand
profit He told me that he would attend to the pur
chase himself few days after he called that
he wished to let 10 Campbell p White, the plaintiff for
third of the purchase to which proposition assented
without consulting my brother; did not promptly as
sent to the proposal purchase but he SAID must
would make money by it The next thing knew ives
that he in the market and purchasing He paid in
full for the shares, by borrowing money in his own
name, and we subsequently paid cash one third.
depended altogether in the purchase upon Suern and
the state ofthe Company knew there such Com.
pany, but had net good opinion of its stock ged
from what heard outside doors; considered it always
years intimately; thought him intelligent man.
careful Of his own interests thought him capable
person; whatever business he engaged in he Knew
W
examining into matters.
1.-THE number Of shares of the Marine Insurance Com.
pany purchased for the triparners by Messrs Taylor
White brokers' was 1885, the price being SAL 1853 ls
each OF the parties having equal share-that TO say
one third Of Sf77o9 This is the Of action The
Company having failed in public estimation, and the
Court Of Chaucery having appointed receiver to take
charge Of its affairs the plaintiff claims that at the time
Of The purchase the defendant knew the institution
insolvent, and that it a fraudulent transaction.
Mr.WHITE underwent long examination by Mr.
Butler during which appeared that he the Cashier
and Suffern Director In the Manhattan Bank-tha
difficulties had arisen between witness and the Directors
in the early part Of $780, which increased to such
that resignation the consequence-hs brother
the plaintiff who likewise Director, resignng fol
the ke This difference lea a GOODNESS bet
the psrtie and witness in his conversation denoun
Suffern his greatest enemy. When the the
Marine Stock found to become hundr of Others
had done, tailere, Sufern executed paper in 1877 TO
the plaintiff transferring TO him the profits Of he Huron
Purchase OF which he held third stock, in order
secure him from loss but this stock
found utterly worthless, much that Mr.. Robert
White, although he had pad some money on his share
sacrifcedt rather then become Stakeholder.
The Plaintiff next proceeded to show that sufern was
Director in the Marine Insurance Company and conse
quently must have been perfectly conversan with is
condition and actual value of stock-when he made the
representations to the plaintiff and his brother The
is adjourned to to-day and WILL in all probability last for
several days TO come
For Plaintiff. Messrs. O'Conor and Jordan. For Deen
dant, Messrs Griffin Bu,ler and Mason.
Calendar for Ffidcy-Nos. II, 90 a. a. 49, 81 49, SO
az, SO.