The New York herald., 1871-11-22
BLACK FRIDAY.
Further Inside View Of the Clearance ro,..-.
Three Hundred Millions Of Cola Required to
Clear the Transactions Of Black Friday

The suit In which Jay Gould and Jim Fisk j,
are the principal defendants, ana through which r
o. Davis and others seek to recover SS25o alleged
damages growing out Of non-fuhlment OF Z llttls
gold transaction tho famous 'sBlack FRIDAY y
was resumed yesterday before Judge McCunn. az
the Superior Court. As on the opening day, there
was numerous attendance. Including some OF the
most conspicuous on the street and In the Gold
Room and stock board OF our great money mart
NeAher Mr. Gould nor Mr.. Fisk have however, thus
far put In an appearance. There was NOT much
testimony taken, but most OF the day was consumed
by the opposing counsel IN finely drawn out arRur
ments on delcatey subtle legal points.
INSIDE TIE CLEARING HOUSE
Mr. Westcott, Secretary OF the Clearing House
was recalled. and gave in his testimony . further
inside view OF matters In tue Clearing House. He
rst explained the OF the Board Of Gold Brokers
providing for the rcsaie OF gold At The risk OF the
purchasers In any case where the purchaser neg.
lects to fulnl his contract after notice. He added
that this rule being found to have sxssed before
1861 1t was ruled out by tho judges IS trrcevank
Gold, he continued. is delivered III two ways--one
through the Clearing House, By means Of Q ticket,
and The other ex-Clearing House. Borrowers and
price, tho Increase Deiua only lie interest agreed
70 be paid: he knew Of no difference between .
fer OF gold Il made through the Clearing House
there Is no actual transfer Of the coln except as
represented by the tcke, wuich passes current the
same as the actual delivery al the coin. Gold coin
u rarely drawn from the vaults Of the bank except
for special use. but IS represented By gold certth
Gates or certified checks Tor gold ON the Gold Exr
change Bank or metropolitan Bank. There Is daily
on deposit in the banks 0, New York from ten y
thirty millions Of gold and seventy millions In the
Sub Treasury. On the Friday Ia question the clear.
ances would have anountelt to
THREE HUNDRED MILLIONS OF GOLD.
Q. Was there gold enough IN the ciIy or IN the
country to mako this dcliveryf A. Yes; With ten
millions OF gold can make delivery Of one hun
dred millions. .- a1@4A .4sst.lIst -
Q. Supposang man was compelled to make 90
tual delivery VI twenty mlllUn8 or gold on that
Friday, was there aoll enough ia tne city to do III
A. Not outside The SuD-Treasury. y
HIS remaining testimony ELECTED no facts Of
.i' LETTER or ADVICE.
John A. Macpherson, one Of the plaintifis, was
next called as q witness on his own behalf. He
testified having sent a letter OF advice to the do
fendants Of the sale OF the gold specified 10 the
complaint. lie did not distinctly recolect whether
he signed the ticket OF sale but saw alter 1t wae
signed. The clerk had authority to sign them !
VIM. R. Mathews clerk In the Clearing House,
testified to the amount OF the clam being charged
on the balance book OF the Clearing House In favor
GOLD FLUCTUATIONS ON BLACK FRIDAY:
John E. MesseroIe Register OF the New York Gold
Exchange testified tnas az nail-past twelve on the
Friday III question gold Was seng ar lS6; at haii.
past one at 1875; a.! eleven A. n H as lss; At
during the day was 1927. At eight minutes past
two O'Clock gold was at iIs lowest isa on the next
Sssy Of 'aIs' tho S''A Of September gold was s'
ASSIGNMENT OF THE CLAIM
An assignment 0f the clalfa OF plaintlffs to MI
John Bonner was offered III evidence. 1t was OBJ
| jected to as indefinite and imperfect inasmuch a4
ie merely states face that 1t assigns plantnp
claim against Albert Speyer and MIS- associotea.'
The Court, alter lengthy argument, admitted the
document, which closed the casa for the paintl01.
NOTION 70 DISXIss COMPLAINT.
Mr. BEACH moved TO DISMISS the complaint ana
| enforced the mOtl,n ny q leEgfny argument. He
urged that Mr. Bonner, BY thenssiGnment had onY
acquired tho rQnt to super1ntou6ence Of tho action
On tho other hand, II the assxnm0nt was absolute,
then he inslsted Davis and Macpherson were not the
proper parties TO the action ana 20 them the com
| plant should he dismissed. Nt.a 0& G.%ai
Ex-Judge EMoTT contended in opposition to tho
motion that the effect Of the assignment was merely
| TO convey 0Ie-hau interest In the claim TO Nd,
Bonner reservng the other half 70 MesSrs Davis and
| Macpherson. f 1f
| Mr. DAVID DUDLEY FIELD also made lengthy Or.
| gument for the motion to dsmiss after which tho
| Court adjourned. -.'e .'a7