The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-03-27
OPERATIONS IN READING STOCK.
The Examination in the Case Of William Eenth
ut Jefferson Market Yesterday.

The Examination in the Case Of william Eenth
ut Jefferson Market Yesterday.
The first witness placed the stand at the Jelier-
son Market Police Court yesterday morning In the
case of William Heath, charged with perjury, was
W. 8. Woodward, who was examined by Assistant
District Attorney Sullivan as f0lows-I reside at
295 Clinton avenue, Brooklyn; am broker; am do
ing no business now; know Mr.. Heath; In 1870 he
was member Of the firm OF Heath Co.; they did
business IN Broad street, In July, 1870 had trans
actions with them in Reading; Joseph F. Young was
associated with me; Heath Il Co. had no interest
In the stock except as brokers; the largest amount
OF stock we had on hand at one time was 100000;
in july 1870, Mr. White came into the pool we were
each to have third interests Heath was told
White nad third interest In the pools at the time
White came the shares OF stock lncreased up to the
10Th OF July we had purchased 10000 shares; l
was in Heath's office on that day;
S %g'e 9oaue young lis % Hea
stated he would hold White and myself
for Youngs share OF the loss; white saia ms COM
he would send Whites and my third to Marvin y
Coz it was sent also statement; neXt h saw Heath
Marvin and myself were present; heath stated he
came to see in reference to some Reading stock III
tho hands OF Randolph, belonging to Young; Mr..
Heath stated he found himself In position he never
expected TO be--tnat was, Spectator IN stocks;
Heath wanted US to loan MIN $4,000 to start again
in case we lost ALL he remarked 1t was hard
t. Se put II Fair such RSsSR when repss
Went mt into 1T he SAID his capital was $780, and
was all sunk; he said 1t was his own actions that
had placed him in the position he was; Heath re.
marked we did not want TO increase the stock: that
conceded with our views III the matter; don't re-
collect the date; learned that Heath claimed we
were each Jointly responsible Tor the losses on the
stock and not eacn OF us responsible for our re.
spective thirds; don't know who informed me.
Cross-examined by Mr.. J. D. Townsend ana Mr.:
brokers' have known Young for several years;
alter Young failed I gave Young put
and CALI, for $500 shares Of Reading, don't
within SIX months after his failure; he did not pay
me; gave IT to him; he asked me for it; don't
know what use Young made OF the stock he used
whether he was insOvent at the time, but think he
was; he don't owe me anything; did not know
anything Of the account he was running In Capron
& Strong's oflice; never loaned Young money;
don't know what the privilege was worth; 1t may
have been worth $4,000 or $4,000; this Is the only
privilege gave MIN; since his failure never had
ieSd his account at any brokers' office Young had
failed; alter that White took charge Of it, nave
known White about ten years; have been inter.
IN esed the that the poo
account between Young and myself was JOINT
account; in June, 1870. The operations in this pool
on his own individual account; White and myself
agreed not 10 sell when he was operating; q
European war afrected the stock mar
ket; when Young announced his failure he
began to weep; at that time had not taken my
third of the stock think II about TO- 900 shares;
ana not know that leaving the large amount of
stock on HeaIh's hands would break them; White
would be- big one; we mad Several Interviews DUR
Ing the day IN Whites office IN reference to the
stock; White, Heath, Quincy and myself were pres
ent; Young was there also; at the time 1t was
stated Young was short some 1000 shares on W.
The case was here adjourned until tomorrow, at