The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-11-09
GETTING THE BEST OF THE RING.
Where Some OF the Court House Money
Went TO-A Curious and Prolonged
observation-disclosures Cut Diamond
Where the WoOdbine Twineth.

Where Some or the Court House Money
Went To-A Curious and Prolonged
Litigntion-DiaM Ond Cut Diamond
Where the Woodbine Twineth.
In the Spring of 1869 the firm OF Heath 4 Smith,
tin manufacturers in this city, found themselves in
falling circumstances Their assets were about
$4,000 and liabilities double this amount. To get
out Of this financial trouble, rather this era in
ruin, Mr.. Heath got up joint stock company under
the name OF the "Heath & Smith Manufacturing
Company To this company Heath Smith trans.
ferred their business They turned over between
ten and twenty thousand dollars Of the assets
and then looked out for capital to the company
They found the placer they sought in the famous
NEW YORK COURT HOUSE RING.
Through ingenious misrepresentation as to the
value and profits Of the business, Mr.. Heath had
the good luck to take in o large number OF those
having the credit of taking in the people
fully. Messrs. lngersoll, Woodward, Garvey, Miller
and others of their friends caught eagerly at the Sc
ductiye bait. Among them they paid s125 900 in cash
for half the stock OF the company at par Heath and
Smith reserving for themselves the other half for
the property as already stated, being really worth
from ten to twenty thousand dollars Alter this the
latter sold to the company this stock OF goods
for $4,000 in cash. Mr.. Heath became general
manager OF the company, and, in the course Of
couple OF years, although in the meantime borrow
ing some $780, 900 OF ngersoll, the concern into
bankruptcy. During this time Heath induced In
gefS0 10 put In SoO0OU adGltonal, ana the MeSSrS.
Austin, the Fifth avenue jewellers to put in $40 0O0
and together to form, with him, the hrm OF "E. A.
Heath Co.. Promises of
IMMENSE PROFITS
induced to this partnership. The affair finally cul-
minated In a suit brought by Mr.. Ingersoll
and Of the Austins to dissolve this
partnership on the ground OF Heath's alleged
fraudulent representations. Other suits followed
closely on the heels Of this Offering lively ltigous
work for various Courts in Connecticut and this
State, the headquarters Of the newly formed COM
pany being at Portland, Conn. In the course OF
the litigations in this city, Judge Barrett OF the
Supreme Court, granted an Injunction RESTRAINING
the partners from acting, and this was continued
by Judge Barnard, who In addition appointed a
receiver. In connection with these suits was the
arrest OF Heath on a
CHARGE OF EMBEzzLEMESr
by the trustee In bankruptcy of the corporation
and the indictment OF lngerso and John D. Far
rington, .i.-the fun particulars OF which have
been pubshed-the latter. as alleged being
through Heaths procurement.
The matter came up yesterday in Supreme Court,
Chambers, before Judge Fancher on a motion, in
Heath's behalf to vacate the Injunction and re-
Ownership orders. 1t was argued by Isaiah 4. VIII
llams for the motion and in opposition by Eiihu
Root. The facts above stated appeared In the
papers submitted TO the court. After hearing the
argument Judge Fancher at once denied the mo-
zion