, 1865-12-03
MORET:F.ARH, PITH0LE
A Great Swindle Exposed, IN
! " the Operators Unmasked. :.

Famwortb Millions Purchased Tor u
E so1g-T1tle Obtained By Gross Dceep-.
Hon and Ffna6The Tile Annailesl
|.'-seasA1nx DetiAtoa by Iadxe4 or ,sho
United States Court.. :, -
| From The Ptt,.btrsh Commercial, 1stl!
In the United States Circuit Court yeste1-
day morning, Hon. Wilson McCaudless read
the ortnion Of the Court in the case ofPascus
T.Cope1and ". Daniel &. Bustfs md Albert g.
Morsy. residents OF Chicago. which was A.
city. The following, Is the =
!. OPINION or THE COURT.
The complainant In January, 1865. was the
owner Of tract Of land on Pithoio Greek,
Fenango county, Peunsylvanla. It adtolned
q tract called the Holmden farm, on which A
veil had been sunk called the s.Unlted States
Well, which, on the 9TH Of January, oom-
menced TO How OIL 10 large amount. Its
millions.
Previous to this time the enormous wealth
Which lad been suddenly accumulated by
those who. by good fortune OF good Judgment,
1ad necome tho owners of the best. oh-pro.
fYon aYoenE nas 5ad tsa eanss fsyes Of
among al classes Of. society. The rich de-
sired to be Richer, and the poor to become
suddenly rich. OF course thesa was no want
Of persons willing to turn the mania to their
Own profit and speculate on the czednlity or
folly OF olhers. Every tract Of land whose
scrfaee was worthless, was presumed to cou-
tain hidden treasures beneath It, and vas
seized for the T1fpose Of an oil stock compa-
NJ boastfng Of capital Of hundreds Of thon-
sanda, divided into lnfniteaim4 shares, to at
tempt eTen tho poor to..wasta their hard
earnings In these new schemes to obtain sud
den wealth.
Atne-tenths Of these stock companies were
mere bubbles, supported Tor = time by reports
rom agents who were daily expecting, to
.arikt oQ."k But The stockholders, finding
themselves only called On to pay assessments
on their stocks instead of receiving dfvidmds
rom profits, began ut last to open their etes.
Consequently there was sudden collapse in,
The market Of such commodities. Tbs good
and the bad suffered equally tn the public es-
.tination, while the real value Of each re-
maincd the same. GO
:. The success Of the "U.lted states Weir,
demonstrated the great yalpe Of tho lands On
f,thole Cresk. There was every reason to
calculate thzt the Copclandtra would Yield
as great profits Is the Holmlen t1nct, which
1t ad}oined. The yalue Of It, therefore, was
not merely speculative OF uncertain, depend
Ing on the panics Of the stock market: Il
had not been converted into stock 10 be toss
ed up bY bulls OF t1nmp1ed by bears.
In the first stage Of this transaction, Cope.
1And 1eted with discretion and with juag-
ment. II be Ind continued to do 30, We
should not hare heafd Of, this controversy
Instead Of attempting to manage the sale Of
his fArm himself, he put It into the hands of
hr. Bell, who WIS sort Of broker or ascut
in conducting the sale Of oil lands. he otfef-
ed h1m two per cent on tho sum he should OBJ
tain for the tract, which was very }udIclous.
III. Bell contracted With the defendant, Bur.
t., foE the sale Of the lind for the sum Of
Previous to the execution By Copeland aud
wife Of the agreement With Burtis on the s1st