The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-04-11
THE ERIE WAR.
The English hareholders-Fisk Litigar
ton.

The reference before Mr.. Kenneth O. White, the
Master appointed by me Court to take testimonr
with regard 10 the 1854 shares or Erie Railway
stock claimed To be the property OF Heath anh
Raphael the English shareholders was resumed
yesterday.
Mr. southmayd appeared as counsel for Heath ana
Raphael, and Mr.. Morgan for the Erie hallway CON-
pany.
The proceedings in this case have been reported
in the HERALD from day 10 day. according TO the
siJngs OF tho Court. The plaintifrs are dcermined
TO assert their rights "a they deem them. and this
action OF the United States Court, into which they
have been moved, VIII give them all the justice
which their proof OF such rights may demand.
CONTINUATION THE TESTIMONY.
Roswell G. Ralst0n, sworn and examined BY Mr..
Sonthmayd--l am President Of the Farmers Loan
anu Trust Company; that company registers Erie
stock ana all such stock az is presented to It for
registration and 1t has registered Erie stock for
about two years; when Erie stock Is registered BY
the Farmers Loan and Trust Company 1t has on 10
the signature or OF the officers OF company.
Q. Is Erie Stock sa.abe In the market unless 1t "
registered In the Farmers Loan and Trust Com
panys A.. no, it il not salab,e unless it Is regis-
tered In that company.
book was here produced to The Master II con-
tanned an index to all The stock OF the Erie Railway
company registered IA the Farmers Loan and truss
Company.
q. What Is the basis Of the registration Of new
stock by your How do you ascertain whether stock
is genuine over issue
Objected TO by counsel for the defendants and
sustained.
q. Look ut these certificates, Nos. .!53 to
l05162, now produced and say what those blue
stamps them and who put them A.
they were put there by the registry cers OF tho
company, showing that the stock was cancelled on
Q. Who put In or punched that round hole In the
certifcatesg A. l did, 1t was not done by the Erie
Company.
q. Look at your registry and say what has been
done with those four certificates. l03 1853 to lO3762
objected to as 10 form.
A. 1t shows that they were cancelled on the 3yst OF
December, $50; these four numbers were cancelled
q. was any other stock issued N its place, A.
Yes $500 shares were issued 10 William Heath 4
Co. The certificates were cancelled on that dav.
and new stock was Issued on 1t TO William Heath
& Co.
Counsel for defendant objected to anything THAI
q. Does the registry AFFORD the means of knowing
whether there IS an over issue OF stOckg A. Yes,
this Is check against over ISSUE
z. Therefore, when certificates are cancelled, thev
are brought in and other certificates or stock issued
In their placer
objected 10; not pressed.
Q. You say that the stock issued in place or this
cancelled was issued to william Heath Co., based
the cancellation Of the previous certificates. Was
that stock Issued to them certified by the Farmers
Counsel for observation-disclosures that appear the
books
Witness-Yes
G. II the Erie Company now issued to us new
stock corresponding with those tour certificates or
Farmers Trust and Loan Company A. No. SIR
that stock Is dead.
James IL. Coleman receiver certificates for stock
that were not registered aud got stock cquiva-
lent amount for it, what would be the as TO re-
gstrat on A. There can be no registration or those
certificates after they are cancelled book; II
other stock should be presented with IL that had not
been registered before certificates might be issued
The witness further testified thar he did not know
anything about the certificates OF 6o,o54 shares
standing III the name OF James II. Coleman. ro-
celver
q II certificates for 6o.o27 shares in the name OF
James II. Coleman, receiver were brought to you
to be registered and an equal smonnt Of Erie stock
been registered before, might it not appear
on the original list the Erie Railway Conn
halfway Company or party registering stock pre-
SCENTS stock winch Is entitled to pc registered ir0m
the fact or lts not being cancelled before from the
fact OF Its being presented either 10 be registered or
transferred no cancellation OF 1t having been pre-
ask for registering 1t. In other words il 60 900
shares should be brought 10 the Farmers Loan and
Trust Company-6o 900 shares of stOck-no matter
in whose name 1t might stand, where the registry
showed IT to be entitled to registry stock ~
sued FOR IT, we would countcrslgn the certificate.
z. You would not couatersign 1t for 800, shares.
OF which there had been issued 5000 Of them regis
tered by you. and 1000 OF Them cancelled A. No.
O. | wish to ascertain to what extent those
original certificates for 10000 shares had been
brought into your once and cancelled and new
stock issued Ill place OF them; therefore VIII give
YOU from your register, which has the numbers Of
those certificates. and when do so You Will please
look al your registration, ana state whether IL stands
free and open, or that your certified stock
woud he issued i'll its place. The witness, In reply
TO this question. proceeded to refer IN detail TO llse
OF shares some OF which, he said. were cancelled,
aud had been issued in the name OF William Heath
Co., anu lew standing ''Open."
Tie examination yesterday disclosed the !act that
In the stock Dooas OF the Ere Railway Company
were identified 400 OF us shares which are claimed
by the English shareholders to he their property.
At the tine Mr.. Coleman was appointed receiver OF
rnls stock there were placed III MS hands, at the
0IilCc Of the Erie Company some @, 900 different
hhcates. These represented over $4,000 shares OF
Stock. and d been left for registry at the OfCe Of
The company the agent OF Heath, Raphael and
ether English shareholders. There were bum
dies Of these snare certificates, and these wero
deposited by Sr. Coleman In the SAFE Deposit Com
pany, where they renamed. as lie alleges for some
short PERIOD subsequently he brought them
to the Office OF the Ene Company lie LETT
them ihere, taking one certificate for
60,0.s shares Of common stock, and one
certificate Tor twentynne shares OF preferred stock.
Coleman at the Erie Railway ONCE showed the blue
cancellation mark OF the Farmers Loan and Trust
Company upon some Of them. IL was the discovery
OF this fact that led 10 The issuance OF summons.
by the Master, To the President of the FariuerA'
Loan and Trust Company. directing him to appear
ut once and bring with MIN all the books OF That
company containing registration OF shares OF the
Erie railway Company. The evidence OF Mr.. Raj
established the Identification OF over four thousand
shares caiIned by the English shareholders to be-
long 10 them.
the reference In this Interesting case viii be 70.
sumed TINS morning.