The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1873-01-21
Our New York Letter.
TWEED'S TRIAL,

NEW YORK, JAN. 10, 1873.
The trial of Tweed, now pending in the
Supreme Court overshadows in importance
ed man in the community doubts his guilt,
but to secure the conviction of culprit
whose means are supposed to be incxhausti-
BILE and who has tor years held absolute sway
over courts, judges, jury panels and all the
machinery of judicature would seem to be an
undertaking full of difficulties. The case is
being tried before Judge Davis, probably the
ablest man on ours Bench, and by the new
District Attorney, Mr.. Phelps, and ex-Attor-
ney General Tremain, SO that there will be
no danger Of mistake in the rulings, or lack
ofvigor and pc yer in the prosecution. But
the jury has been made up under the old sys-
tenn initiated by tn Ring and the popular be-
liefis, that there are men on it whom no
amount of evidence would induce to render a
verdict of guilty. A disagreement is the best
result hoped for by the friends of good gov
eminent. A failure to acquit however, under
such circumstances, will be accepted as step
in the right direction and will probably lead
to speedy revision of the statute in relation
to the formation of the list of jurors for the
city and county. The progress of reform is
painfully slow, and it is extremely trying to
public patience, to witness the numerous
hindrances which impede it, but there is COM
tort in the indications, everywhere appearing
that it does progress and will eventually be-
core an aeon olIshed fact.
Tweed may escape the punishment Of his
crimes for time by the help of a packed jury
but there are indictments enough against
him, to keep hiM in the criminal dock for
years and with every trial his defense will
grow weaker. He has no longer single
henchman among the higher judges and with
the New Year, the last of his followers was
swept out of the District Attorneys office.
If the verdict of this jury should confirm the
general apprehension that he still retains the
power to manipulate juries, that last source
ofrefuge will be taken away from him, so
that sooner or later, there is reasonable
that the most daring malefactor of
the century will suffer the ignominious pen
atty which justice so imperatively demands.
A STRIKING ILLUSTRATION.
A most extraordinary illustration of the
fruits of mal-administration in our courts of
law, has recently come to light, which is like.
lv to command large share of public atten-
ton.
Some ten years ago q respectable firm in
the stock brokerage business in Wall street,
sold out customer whose margin had be-
come exhausted, and who on due notice fail
ed to make it good. The whole transaction
was in accordance with the established usage
of the stock exchange, universally recognized
as legitimate and regular. The result of the
sale was a deficit of $4,000 for which sum
the brokers co nmenced a suit against their
He employed a firm of lawyers to
defend the suit who have always been famous
FOR their ability to fix things" in the courts.
On their potion the case was sent to ref |
cree they having first put in a counter-claim |
n behalf of their client. The hearings before |
his referee have been continued for over |
line years, during which period he has heard |
he testimony Of about half dozen witnesses. |
Recently, he has rendered his decision, and |
Tou can judge of the establishment and dis
nay of the plaintiffs on finding that he report
da judgment against them in the modest
title sum of $4,000. To have reached this
conclusion, the referee must
AVE found as matter of law, not only that
he brokers were not justified in selling the
tocks at loss, but that they were liable for
be highest market price they ever SUISSE
uently reached. Now the transaction took
lace in 1868. Among the sales made were
80. 900 of gold at IA. Gold declined stead:-
from the date of that sale till it reached a
minimum of 1923. Afterwards it reacted,
IT the highest rate at which it sold up to the
me the suit was instituted was 157 ga. In
s4 the premiurr rose with alarming rapidity
I'd sales were made in the summer of that
ar at 2s9. 1t began to fall about the time
Sherman's capture of Atlanta, and with the
election of Lincoln and every Successive
Glory of the Union cause in the war it tum-
ed down and down until, at the close OF the
Dellion, it ranged below the figures attained
the sale which forms in part the basis of
lie suit in question. Nevertheless this as
lite arbiter, has apparently made his decisi n
1 the hypothesis that the defendant would
ave held his gold year and half, and have
'dered it disposed of on the day and at the
our when it commanded the greatest pre-.
lium ever known.
This whole litigation, In its tedious DELAYS.
s tortuous processes and its incomprehensi-
e issue, has such SAVIOR of corruption that
is impossible to resist the inference that IL | .