The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-04-13
THE ERIE WAR.
The English SharehOlders-Hunt
After the Stock.


master appointed by the United States Circuit Court
to take testimony In the case. heath and Raphael
plaintiffs In action In the court named against
Fisk and the Erie Railway Company for the re.
covery Of the amount Of the bonds In question: ABOUT
$8,0O0,000.
Up to the present time the plaintins claim,
through their counsel that they have, by their OK
animation traced and Identified $4,000 Of the
shares which, they aliege belong to them.
Yesterday the proceedings In this suit developed
some interesting particulars, which will be found in
the subi0ined reports
Mr.. southmayd appeared as counsel for Heath
and Raphael, and Mr.. Morgan for the Erie Railway
Company.
The books and papers introduced on the reference
are very v0lumlnous and a considerable time must
be occupied In examining them.
CONTINUATION OF MR. RALsTON's TESTIMONY.
The examination OF Roswell G. Ralston President
Of the Farmers Loan and Trust Company was re-
sumed bv Mr. Southmayd.
Q. Have you compared the schedule of the stock
certificates belonging to Heath and Raphael, which
have furnished you, with the registry books Of the
the Farmers Loan and Trust CompanyP
Mr.. Morgan. for the Erie Railway Company, OBJ
1ected 70 the question the book referred to should
The Master SAID that this mode Of referring to the
numbers Of the certificates had been suggested in
order TO avoid delay and . heightened examination
The witness-l have compared the numbers pre-
sente1 70 me MIN Tue scneanle lnrnsnea me . mere
Heath ana Raphaes certincatess A. don't know
that It Is their stock but have compared this list
Q. Have you marked against each Of these num-
bers furnished you whether the stock which APP
pears your registry Is cancelled or nOt9 A. Yes
@. ls the paper now shown you the schedule upon
which, from the examination yon made, you have
put marks to each OF the certtlcaIess A. Yes.
Mr.. southmayd offered the paper referred to to
be marked for Identification.
Mr.. Morgan objected to any garbled extracts from
the hook. wanted the book to be mt in.
Mr.. SOuthmayd-The book ia in.
Eas tnsn IN @ ne IN question
Examination resumed-Q; Have you gone through
the whole OF the listG A. Yes
the word "cancelled with The date, what does that
indicator A. That that certificate was surrendered
one certificate more-part OF lot Of stock sur
rendered ct that date-for which the same number
OF shares were issued to other parties
Q. Then, wherever on this schedule you have
marked canceed" with the date, IL indicates, does
been Cancelled in The Farmers Loan and Tass Go
paDy, and stock Issued IN Its place. as appears
BY the register OF the Farmers Loan and Trust Com
Q: And the date given shows when that was dones
Mr.. Morgan objected. That must be shown by
the register He objected to having garpled ex-
tracts from the books put IN evidence and testimony
given that the stock was cancelled and other stock
issued in its place, when the book showed what was
done. TO the witness)-Ia tnat paper copy OF any
Witness-it Is not; 1t is statement which have
prepared, as directed by the Master from certain
numbers that were furnished me-a statement to
slow what became OF this STOCK OF which those are
G. And you are ready TO verify that BY the register
which Is hereY A. Yes.
Of the word Cancelled with the date us is derived
from your registry books2 A. Yes.
2: And where you have inserted the word .'open''
what does that indicator A. That the certificate is
still outstanding
Q, And that nothing has been done with 1t, so far
as the Farmers Loan and Trust Company Is con-
cerned2 A. Yes.
q. WIN you produce the book from which thoss
facts appear A. Yes, produce II; there are two
Q. VIII you state the different days on which those
January ~ isis January H. 1871: January 10 1871;
December 70, 1870; December 81 1870; November 10,
named date Mr. son,hmayd said must be- s m mis-.
take); october Is 1860; December 9, 1869; Decem-
Der 30 1S1oi December IA, 1870; October Is, 1869;
Q, Please give me the numbers OF the certificates
on this list which appear to have been cancelled
take. / want them to be extracted from the case.
Tney are not any Of our certincatesf A sl,oss ana
@ Give the numbers Of those cancelled on the
18TH OF October, 1863, and 9th Of december, 1869,
and Attn OF December 1907 A. october IL, 1887,
ll2,647 to 1866 l2O722 to 100 1875; 9th December
lse. III $50 to i1204l 1stn December, 1870 1l264l
Mr. soutnmayd, on the part Of Heath and Raphael,
declared that the list Of Mr. Coleman, q copy or
winch was handed to the witness. was incorrect IN
those two particuiars-namely, that the certificates
which were there called 06S and 81 0se should lie
8l6s aud s169 ana that the certi1cates liz d37 to
IL, 637 to l2664 inclusive.
q. Please LOOK at your register anc say whether
certificates sles and $500 appear to be cancelled or
nots A. They were never presented to the Farmers
Loan and Trust Company; l12.637 TO 1l2 664 were
never presented; they both stand open on our
q. What was the number OF the certificate which,
upon your examination. appears to be cancelled on
the 10th OF August, 1907 A. No. 1Ol, 624.
Counsel Tor Heatn and Raphael declared that mum.
Der to be mistake In the copy furnished to the wit
ness and asked him TO look instead at lOl go and
state II that NUMBER was cancelledY
The witness replied that it was cancelled on the
witness gave the numbers OF the shares issued on
the dates above referred to, after the cancellation
were issued. Among the parties thus named were
William Alexander smith Co., P. e. Stockton, r.
\ Taus Il X WIaTd willard Martin and Beach
William Heath Co., Jay Cooke co. ana others.
Q. All the stock and certificates issued upon these
si Sas O the Farmers Loan
Q. And they could not be signed or counlersIgned
by you except on the basis OF the cancellation OF the
Crossexamined~o. state the custom Of reristra.
tion or stock; A, The Stock Exchange, by a reso-
luton OF itself or the governing committee deter.
mined that stock should be actively dealt with in
stock exchange except 1t had an Oflce OF regis
company transfers Its own stock at its own office
that stock must be registered at some banking IN
resolutions Of The Stock Exchange referred TO- u inc
q. Is there any other custom except what arises
any Other stock covered BY that resolution Mo-
q. And no other reason why stock issued by one
stock exchange could not be dealt with any o.her
STOCK exchangeP A. The Stock Exchange regulates
the custom Of the trade.
Q. SO that no private sales could be nader A.
Other sales would not be considered good for de-
livery, because such stock would not be negotiable
stock; all companies who transfer their own stock
must go through the necessary and prescribed forms
10 make the transfers perfect
G. Has all the stock OF the Erie Railway Company,
SO iar as contained IN your books gone through the
A.. hoan
issued, suppose, has been stamped; all the issues
have been stamped by me since our company be-
came registers OF stock. We register no stock Of
Erie but that which comes to us In the regular way
through the office OF the Erie Railway Company
We are employed by the Erie Company TO register
STOCK. The custom Is when stock is transferred In
the Etc Railway Qiuce. and q ea iaa