, 1873-11-25
THE. DANGERS OF, WALL, STREET.
How an Old Stager Was Cleaned
Out,
The Case of Biedormann VS..
Drew.
Over 100000 in Litigation.

49,,
Over 100000 in Litigation.
Tho following Is tho declaration hlod by Ernat
II. Bfcdormann against Dnniol Drow and othcrn
in I'm cn,nbrntni eaao growing ont OF tho pur-
of ptocl in tic Canton Company
.yenEnr oovnr, onr AsD ,s eogn55 % OF , szw zona.
Er,Ht H. Meaert.a"i; and yaseo hmgns a9a.nI Da-
r. os'' @s'."' " ,. .''s'" a'ss .".,s ..s,
ano @ ~ E br, s,i rosnnc.fnsir ahns
.gsnst inc {n tnoro'n aho quo"
10 t1e oonrs MI ao ; .onu"s; 4, ~, s ,.,. ,or
HI, nh ~ ssra r. h
ses aos m n tv "S ~ Now Var nop .a r ~ nDo
and hyio o. r. H. ~ ~, U9 III az 1nen u
nr, We.a ~ ta ~ jt,sa 4ain @ wi s,sron ~
st p1ot whlsh iact was Se known to tho deiondans
aao esea u a,c a, m. aycr.,tu ,y.a nrro I'm
nn eaen n q H. clS m arao
seaai dealers anu operators IN buca BLOCK sno '0eo
E't1Sa: ,,,4 eu.,r Tim .on,o ,o+,od ~ Hr,o tbono
ay ia .n,n snd
exsn1 N inS aap whc sad bomnany or corno
fson h:d t. st N me ts capital soek
aasn8 M c1 tno sao eaoro m r. ooes S ma
of the stock X q H. saa pm a. ana Mase oes
DroW md Hobin.on cro aotiye Directors Of tho said
efo assFe et the Executive ,S e 1o% IT,,
mee aoreo md wero nani.r M wa al tno
sa,Ts saa ., ns sa ~
fVhThat a9ms TINE about .he month ot Morom;
ber IN th9 yer ls3 tho derondana i %f"ngauy ana
to b1 cue Y ,ofo eocs wno % oos oor
fs : i
e esu9c IN 70 noevo "1 ,aT
etock OF sa qorany WIS q. grcas yaate, aMu "ou @
soon greatIy increase N 1ts nntnot pr1co .I, nnu
ealuct ahd tnht tao sane WAa ano coul4
% means o. o ta sa m Sa1U
the detenaans In toFng said conspiracy was 70 cheat
ano aeIrsua tne pa%n.a % sau . sSn @ u.e' rtsaolJ ="
the y yprs faso pn frsuuient nes to oco1ne
largo prea9eEs ~ IT, m tno o9cx o1 saa
M an sosa 10 ~ n IL to nna od
others st more than ss ISSl valae such o. ssta stock
to onao e eton3ant Drew to thna
Sons sitss se and get rid q sae socE Is hon hold
and owned BY hi at prIcsa beyond its real value "
thu ,ne e te an o1 nrop 10 1ny hs
as tho painltss are informed mn Geoys whisn "a1a
defenants snd each q aeen taen VOL know @ o M rea1
b M and 6aa a, IT.. lo sa
ea @ @ f 1' @
thereof or M and e VII hnew that + va
oth oss a INC 10 q was
eonrssy nnu i saSang Try pnhls m
mar%ct nrico md yaluo, and Tas mid would DO q
means of nrofaD,o trafo and safe Investment. and
10 Induce tllo plstnts to become large purchasers
thereof 40 hcreinneforo stated the defendants fau
ara nfer.ned and believe, that tho defendants Alden
nre.ona to Inc pluintifrs to DO ecllors ut til;
| Etack Of saIl Company on thotr own account
and that tho defendant Drow should falsel,
nretcni to tho plaintiffs that ho was unwilling
r. and would not Bcll the stock Of said Company. ol
which he was thcn largo holder md owner: aud ii
furhorarco Of said conspiracy, tho said defendants
niatntjffs tln in frthoranco OF said couspirncy th
kid Drew falsely md frnulently represented to til
nisnta thst 10 would not sell any Of ths stock OF sa
Company 20 held by him for less than from $3.50 t
sodn ner s1arc md that from his knowledge Of sal
owneuy and lie atfasrs and prospects, AM, fro th
improvements Tint ware then being maao hy tie sai
ROOM Greatly Increase in its market y1lue ind wol
sdyunce from s price at which it wns then selling
toSit an,,t sOG ner eare 10 from s150 to 5000 pe
sharo; that, IN farhssauce Of saia conspiracy, IN
fnsclv md frauauouily stalled to the plaintiffs til;
he would keep a,,el. Of tio stock Of said Company
he tlion hel Ind owned and would not part with tt
aano m1t It advanced to from s15o to $500 per ehar