New-York tribune., 1874-03-10
LOCAL MISCELLANY.
A BROKERS' SUIT.

n
.,,v cu.rcrs or FRAUD IN STOCK TRANsAC-
r1oSs-A RFMINIsCENCE OF THE PANIC.
c,.a of the mysteries of stock-broking will
xonhtess he made public the course of the trai of
mi, which was begun yesterday in the Supreme Court
f this district by stephen H. Alden against lhe nrm OF
Rohuson Chass Co. brokers m Broad-sL lne acuon
=, n, oon,el the defendants to make accounting with
she plaintiff Of Transactions between tnem IN s'"cAS'
,sonds and gold extending a dong period aud TO
set aside written release granted by the plainun TO
Attendants and alleged have been obtained by them
frsnduienty Toe complaint rs very Pong minute ana
sir,unstantiaL u sets up substantially tine Following
paTte claims;
The plaintiff had extensive dealings win the deichd-
suts-Rohnson Chase 4 Con- buying and selling
stocks bonds anu gold, and the latter Kept an account
nm their hooks m which they pretended 20 credit him
with all their Indebtedness 10 him, and Ia charge hlm
with al his Indebtedness to them IN the various pur
el.ses and sales made his account. The defendants
were accustomed To render to hun occasionally wI't
purported 70 be statements OF the account between
chem he never examined the account hut ON the rep
resentston az Mr. Robinson that correct ne was
accustomed 70 -ieu aud deliver 10 Mr. Robinson "a
certificate thar he had examined the account aud that
abe statement was correct. Tine lest statement so de
hyered war in October. 1873 Dl ng the time that he
vas HAVING dealings With Robinson, Chase Co, he hdd
desk Ia their Office, IN whch hc kept these statements
furnished him Of ms aCcodnG. except tie one furnished
An October is3: they were abstrac from tins desk,
and The panG believes them be n the possession Oh
the defondauts he has since asked for statement OF
sseouut but 40 hos not nccn furnished lie declares
HE belief thai the statements iurnSnedIbyl
Chase Co. contained improper charges against hm'
and failed 10 show an tnel credits to which he was
entitled Sept it ne had stocks bonds, ana h"h'N
IN the defendau> hands margin stocks which they
were carving for niu the Valuo, an estimates :"
ss7Oco he also claims thai if the stocks 50 carried Iof
Aim had been sold that time, the defendants womb
have indebted to him IN the SUM of abou >5'oO~
On thoeveutng Of sent. 10 Mr. Robinson called on nun
~ his hotel. whore lie was lying s"bdnd t"d h'h '""'
the Aru were oorne under great financial euharraS'-
nsnt they owed the CITY Of Rochester ha!f niihon o
1sArs and tnere was great danSGr o theii ii''aE, NJ
which ace Alden would lose al The stocks ana noh"S
which tncy held account. lie sud II was impor,
sant for theBi 10 make good showing oi assets, ana
by the Wr,tporI. Conn. ana valued at s2nOO"
rronislnC 10 continue to carry AnchN s'oehS .lt %
bonds, ana to ptol'V' nIiu I'm i'n "I,,os,"d a"I
from Their depreciation. Alden did as reGuestcu;
tie "'tO containing "'>nS , ,, " W W. i, an m,
property. On sept. 1871 Ar h'hhSou '@'lcu @ on , Wv
piaInU who was su sick m Ded and saba that llie uVe
contained too much dnd asked mn l" i9ah' an meT [ So
conveying The real estate only lhs a,1ed s"' M NJ
tiOn, and tine repetition Of former promises ny Nl
ROoIBsOn, he did Nv. Alden remained III i"f seVeIa
dayt aud during that ulne MT. Robinson repeat
ediy called on him ana renewed ms pi"hiiIc pi"hiiSc
whIoh the firm were carrying ior NM hd 'onu".S 10 10
these promises tne scGnIsr, oi ihs sie"@a fI't ~, m
plaintiff and without hls knowledge. A"o! oc'' -
Js,S, while the plautG was SUI scN pretended Niaie
,nent OF account was furnished MN by MI Robinson vi
sIs Transactions with the laiters hrin. ana NJ.
Robinson URGED INN to sign IL release III iui
OH condition that the real estate Ineui oued ahoNS
should b. decided again 10 the pidlntin Inc p'"tu''l
alleges that he too sirk tO examine the Statement o
transact business. ana that ht was Inu',u =" 81"
she release Mr.. RODiu-bu assurance tha Lr STA &C.
YDrnt was correct. And Lc feared ls house MOdd
fil aud thn the real estate would be ,Jcrihred Tue re-
Ieasa discharged the defendants Tou dl claims and
demands oi every ia ue ne piaIutHs favor against
tbem ,.
In, conplgipf alleges on Information and belief mat
All the tat,utuis made 10 hun were iaSc t1tt MI
had Nt.1 1t
posse,siop uf tuc real estate order 10 II
forcing tGr paiulh "a settle On ls own terms
the stocks .tud bonds were represented 10
have at lower pricca thdh iheJ
actually uiougBi: and that az tnc tmS t1e release
was executed tr' defendants were indebted 10 MN, on
fair settlement, To At least the amount Ol sRJoOJu
wherefore the piuntB prdys; that tue settlement Ol
Oct -, 1870 HAY be declared invalid, The written re
be declared fanuuit M ana VOID aud the defend
ants be compelled 10 account with tnC pahiH TOT III
Ihe complaint IN ine ease was served
,esterdig The defendants. BlFisdt fHcAG "c lL,
sttoTntys for the pldIutn