The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-04-26
THE COURTS.
Delving Another Abyss of Stock
Speculations.
A LONG LITlGATED ADMIRALTY SUIT.
ConstitutiOnaIity Of the Act for Removal
OF Causes.
LONG LITlGATED ADMIRALTY SUIT.
RESPONSIBILITY IN OYERDRAWN ACCOUNTS.
Interesting Grim. Con. Suit on
the TapiS.

Suits engendcrcd by stock speculations OF grow
ing frequency In the courts suit OF this class pre-
senting rather singular features came to trial
yesterday before Judge Larremore, holding Supreme
Court Circuit Is the old old story using other
peoples money TO WOO the tickle goddess In Wall
street, with additional crminaty in this case, al
legged, approprating the funds of bank this ur-
pose. The complainant IN the action is Francis W..
WORTH assignee bankruptcy of the Market Savings
Bank, and tho defendants Matthew p. Bemus, ex-
member OF Assembly and well known stock specu-
lator. and Mr.. Van Name aud Henry Il. Conkln, re
spectivey president and secretary OF the Market
Savings Bank. II is claimed that the defendants
July. 1852 took from the savings bank $780, 600 with
out the of the trustees directors and applied
the TO their use; that In July, 1870 there
paid back s33 100 and In January 1872 $s9 I'D 50,
and that there due S37 677 ~, with interest
since January l, 1872 together with the interest
e10U 600 for year and interest 500 900 for six
months. The answer Is general denial OF all these
allegations. After the testimony had been submitted
behalf OF the plaintiff confirming the state OF facts
as set forth in the complaint. Mr. Bcmus was
called a witness for the defence His direct
ination occupied considerable time in which he denied
most emphatcaiy any knowledge OF the money having
been taken from the Market Savings Bank as forth
IN tho complaint. He conceded to INDUCING largely
in stock specuations principally ia Now YORK Central
Railroad stock at the time such money was alleged TO
have been taken the banks funds. In his
examination he pretty severely handled by Mr.
Parsons, the plaintiffs counsel, although not drviat-
examination
''You talked over stock spcculations did you not,
with Mr.. Conklin % was ono Of the questions asked
him.
'Ycs, sir" answered the witness
"Whcre were these conversational"
sometimes at the bank, but more generally al the
Fifth Avenue HOTEL -
'Dld you give him any points the New York Gen.
tralgn
IL told him what was told me by Mr. Clark.
'Did you tell MN you thought the stock would 60
ups"
~ did, SIR"
.swell what else did YOU tell him ~
IL told him that II had 900 at my own CON-
nand could make money"
"And tho 500, 900 was furnished your"
Eyes, SIR"
sBy Mr.. Conklin ?"
eyes, sir
ssDid he tell you where he got the moncys'
mo, sir; he simply told me he knew party who
would furnish she money"
.'And you did not know who that party wasf"
~ didn't know and didn't to known
the bank"
II told you that didn't know anything about it,
s'You knew Conklin was poor many''
..Yes, siru
''How was the $100 900 used 20
''As twenty per cent margin on 900 shares Of New
York Central stock
This cross-cxamination continued at great
length and was not concluded at the tme the ad
journment Of the Court The trial promises 10 occupy
two or three days.