The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-02-12
THE ALLEGED RREACH OF TRUST CASE.

Ihc story Of Mr.. James Myers, as Told
by His Lawyer.
In order to gain further particulars relative to
the action brought against the late firm of
Dlmock, Myers GO. by Mrs. Julia A. Beach, a
reporter OF the HERALD called upon the legal repre-
sentative OF Mr.. Myers yesterday ana obtained
from him the following statement. He claims that
former story published IN this paper Is incorrect
In many particulars and does injustice to his
Client The version Of the case which he gives is
this:-Mrs. Beach, in the month of August,
1871, had q son for whom she wanted to
secure position in business This wish
she communicated to o friend, whose assistance
she requested. This friend, being an acquaint-
anee OF Mr.. A. ]. Dmock, one of the firm of Dimock,
Myers Co., communicated with Mr.. DimOck,
and informed him Of Mrs. Beachs desire. The re-
suit was that negotiations were entered into be-
tween Mrs. Beach and Mr.. Dimock, and an arrange
ment was made whereby young Beach was to enter
into the banking house Of the firm as clerk, at q
yearly salary OF $500, to be payable in monthly
parts Mrs Beach on her part agreed TO loan the
nrm thrty-two Missouri State bonds, OF the value
OF $32,7OO, Tor one year, the period in which the
agreement was to stand good the firm either to
return the bonds Or their value in money at
r tes bonds the OF firm tine Mr As ner
note OF hand for little over thirty thousand dol
lars, the then market value of the bonds, and in
Company stock, worth at the time 100000 This
agreement was signed in the rooms OF the Safe
Deposit Company, corner OF Liberty street and
Broadway, by Mrs. Beach and her son (wh0 were
accompanied by COUNSEL, and the three members
OF the firm.
Young Beach entered the house of Dimock
Myers Co. in SEPTEMBER, and Immediately the
bends were sold by the firm and converted into
money. In January, 1872 Mr. Il. Weston, one of the
members Of the house. withdrew, 80 that no re-
sponsiblty is attached to him Tor anything that
afterwards ensued When young Beach had
been some time IN the house he COM
menced TO speculate in stocks and for
some time he was successful. His success was OF
short duration. however, and he soon lost more
than the value OF the bonds and a large sum OF
with the company. In these speculatiOns the
firm OF Mr. Myers alleges that he used his mother's
name as authority, and the firm acted on COM
mission for her.
AT the close OF last year. owing, as Mr. Myers
states, to losses incurred through Mrs. Beach, the
firm or DimOck, Myers x Co. failed Mr.. DimOck hav-
Ing previously died. AT the failure OF the house Mrs.
Beach came forward and claimed her bonds. She
was told that the bonds were not forthcoming nor
money To pay for them, and that, instead OF the
firm owing money to Mrs. Beach, Mrs. Beach owed
money TO the firm on account OF the losses they
incurred through her spcculations Mrs. Beach
denied that she had ever speCulated or given her
son any authority to speculate In her name, and
rested for fraudulent incorporation Of the
Missouri State bonds.
1t will be seen by the foregoing statement that
the stories OF Mrs. Beach AND Mr.. Myers conflict
and 1t remains for court Of law to decide which
OF them IL right.