The New York herald., 1850-08-29
TWO CENTS.
Supreme Comt-is Chambers.
IMPORTANT LAW sUIT-THS CASE OF sUYpAM, SAG

& co.
AUG. 28-Before the Hon Judge Mitchell
In the Matter Of Warrant ua.e' the .1of 10 Htohsn
imprisonment for Debt and 10 Punish Fradnf'n Deborss
sgo,nsf Fe'dinsnd Suydam Jr., aud S'ancis r Saye-
of our Police Intelligence ssturds last, and the
present investigation is n stilwel wasr&nt grated
fsilure-Edwsrd Prime being called and sworn de-
poses that be is a broker; knows John e. Body. sni
has known him since ls46; he agent when wit
hese Knew him first don't know what II his business
nov, ne Is not man of responsibility as TO money
matters would not lend him 81 900 on his note; 1
would not have done at any time within the past ten
mosths should not consider his credit good fSr
Regards myself have not known his business for one
nor has ne had within the last two mouths
on orosst Illumination witness testified that he hsd
Known mr BODY between three aud four years; had
business transactions with him in ls4J: INV arm.
Prime ward L Co. advanced hin against ship ments
., gram ana hour conveyed TO Giles, Son Co.. and
500 900 more less; Prime Ward Co were not in.
terssted in any shipment made by Body thiuk they
had no int crest with him in any shipments that
MADE at one time they bought mis- interest n
signnent out and out II went to some Loudon house;
1t might have been $50 00o should say Mr. Body had
good knowledge Of the grain marte at the time Of
our dealings with him; we certainly should have
In tha transactions of the day from the kuo~edye he
had OF the nour and grain market did consider him
man who was reliable so far honesty and integrity
wsre concerned
Re-examined.--I have had dealings With Mr
Body since the time refer to, have not the same
confidence in him now; the cause Of that change has
arisen from transaction which shoud have bsen 8et
tied between gentlemen 1t Transaction OF honor
This testimony wac objected to it was because Of
my failure, in ls47, ceased to deal with hix, [ re-
sumed business In lS4S. Q.-Why did you not resume
business with Mr. Body? A Subject to objse lon
Our business was entirely different from whst have
known Of his standing and character, | sAouid rot
have been willing to resume business with him (Oo
jected to base my answer to the last question: to
certain extent on what before stated and also on
other matters decline to state What the sransact'n'
VIC. Peckersgill deposed that he la a merchant;
knows the firm OF suydam, Sage T. Co tor 10 or 10
years. aid business with them to the time of their
failure, which was the 9th OF the present msn.h my
firm has advanced to the house OF Suy dam sage =
Co property to be shipped abroad We have doae 70
l5 or 10 years to considerable extent at times TO
half n million OF dollars or to about SZDOOOV or
$500 600 in year; their transactions WITH
always In their name; the last money advanced
them was on 900 barrels of -four time 10 July;
some of the transactions still open. lis it GUS
tomary for good and respectable houses to ths
name OF other persons when they obtain advsnces on
their own goods A-Not generally should think.
(Opject.d to) II would dep,nd upon the caass;
parties have to aud have shipped goods for
them in my own name; In such cases. however, they
have explained their reasons TO me; wnsn say 1
shipped goods la my own name for other parties,
that the bill OF lading ia my name; had
the in voice In the real name; beyond tue lien
for advances had no title; the credit of john II.
Body does not stand high should not trust him
1900
Crottexsmined We have had various transactions
with suydsm. sage q Co. and have mate ivAncea 20
them property; made some which they nave
ordered TO be sent abroad and some sold mere sna cur
expenses were paid do not r-memo~r N the n1ur on
which We made the advances TO Suydam. Sage Co
since the commencement OF the present year was
actually shipped prior TO their failure; have had
variety OF transactions with them. knew before the
failure of suy dam Sage a. Co.. that they inte
rested IN shipm made In the name OF John k
Booy; Mr. sage told me that he had furnished quar-
ter delAr margin per barrel he gave me certain
stutements Tor the reasons why the sh pnsnts were
made in The name OF Boay eau hardly r.nember his
words; h. mentioned Mr. BODY as the principal, that
H. the owner OF the four he made no mention Of
suy dam snse Co TO my recollection ia c0un-xion
with the u Transaction; the question vas would make
such advances to MIR Body shipment ~ Iour,
and declined IT. declined II bsoaus. the al saaee
atked vas TOO much, 1 heard report shs
same time from Others, that Mr Body ship ng
largely, heard change day that Mr.. Boay vas
chipping largely aud that suydsm. sage A 90 bad
s0VancOd um the quarter Of dollar Tor the mtrgia,
that H. u some Canada -four which cost 50 bar.
rel, BODY had got an advance u - ~. sl1 say
dam, SAge a Co. had advanced tne ptn.r ga.its.
when Mr. Sage told OF the shipment, Ne ala not en-
join secrecy but at the tiHie u1 uat tat sac
20 make it public it made buriness 90 ullu
alton; considered that had no suthsrtty TO pro
mulgste t: the relations between our tria aud sny
dam, sag. co that ~ Hour droiied Materially
Ia price they would have been legally Indicted as
decline 10 say ~befh.r would have advanced 81 rs
TO Body that Hour. at thu time I speak of. mr.
ssge told me. that it his intsfsat that lafGs
quantity sf -four should be fhippej out of the
Ret that he paid ior the -four dr Body shipped; Chat
Mr.. Booy got within qusrter OF dollar OF its vaus
savnncsd. the -four being shppsd tn Mr. Body name
they would not BE- responsibi. Tor any reductions.
The examination will be resumed this day