New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-11-13
THE COURTS.
THE HISTORY OF A POOL.

THE HISTORY OF a lOOL'
A SUIT by AzAMAu B0oDY AGAINST DANIEL DIRE"
AND OTHERS TO COMPEL AN ACCOUNTING
A large financial suit-a relic OF the pools
and corners" OF IS7i-caIne up before Judge van
Brunt in the Special Term OF the Supreme Court yeser
dav md attracted considerable attention from tho con-
nection with Il Of such well-known MINES In waist
,natters as those OF Daniel Drew. Kenyon Cox Azamh
Body ETC. The papers In the suit tell the story OF now
Body, Drew, CCx. Milton Cartwright hpfah"'n Do
Bayliss. and six others, made up "p0oi' 10 caTrl
II 900 shares OF Toledo. Wabash western Kaiifoau
stock Boodys share that basis was l2,'oo shares
The other men named above wore appOned, by agree
cnt between all In the enterprise, managers OF the
spool" with plenty Of discretion as To giving puto
ond calls" turning OF stock, etc. IL was agreed TO
keep the pool up until after the next election OF inc
company In November, 1872. Body put mp n margin
OF siOo,o0o OF sinking fund bonds. $4,000 besides
delivering all TO Kenyon Cox Co., who were
uthorzed 10 act brokers for tho pool When NOV j.
1874 arrived. Kenyon Cox & Co. made mp a statement
showing that they held on account OF tho pool $500
shares at s67GTeI9 3d. being price Of very nearly 7ei
and much above then market ratio Of the stock Tho
proportion belonging 10 Mr. Body was 1900 sharcs
ut $50 Gs After he had taken up his stock no De-
gan suit against the managers OF the pool for ruler
ACCOUNTING charging that they had dealt their own
behalf In the stock. and thrown their individual losses
on pool In direct dealings In giving puts" and In
making I" turns " OF stock. .
This is the suit before Judge Van Brunf, ana the ne
fense they Tho defendants had right To deal ON
their account In the stock having expressly reiuseh
accept charge managers any condition prevent
ing them from doing So They say that Kenyon Cox ~
Co.--whch consisted OF Daniel Drew, Kenyon Cox,
Horace, Manual, and william Hutchinson
OF tho managers, because tho whole arrangement OF
the business turned TO them by common con
SENT Body directly agreeing. They deny any throwing
OF private losses on tho pool account and say that
Body acted IN this matter for VIM Turnbu and James
T. soutter "a well rs hmsc, and they, or Mr. sonticrs
representatives. he having shco died. should DO n'ado
parties TO the suit for Its proper settlement
An important witness In the trial yesterday was Mr..
Potter the sOn.lnaw Of Mr.. b0uttcr, who testified That
as Mr. SOutter had interest tho pool, he Uho
witness) went. with Mr.. Boodys approval 10 Kenyon
Cox Co, and they expressed their regret that the
enterprise had resulted so dsastrousy but showed MN
their account. In which tho expenses or the pool
footed up <9G6i8 % In commissions rcdceming puts
DC On sOmo turns" they had paid over per cent
for money. The commissions amounted To NJ,OOO OF
which t33726 commissions tui ming stock. Tho
witness after ward OF tho managers with Mr.
Body ono or two occasions. when regret was OK
pressed at tho unfortunate manner In which The ar
raDgcmoDt had turned out, ana opinion was given
that bolder management would have been better. In
calling Mr.. Coxs attention 10 some matters IN inc nc
count, no said he could not explain them until ho saw
Mr.. Drow as MIR. Drew had directed them The witness
further said that Drew had taken 10000 shares At 7G To
relieve the pool The trial will be resumed today