The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-04-27
THE COURTS.
Dabbling in Stocks with Savings
Bank Securities.
A BANK PRESIDENT ONLY A AGUREHEAD.
The Horse Car War on Rapid
Transit.

continuation yesterday before Judge Larremore,
holding Supreme Court Circuit OF the trial Of the suit
brought BY John H Piatt, assignee in bankruptcy,
against Matthew p Bemis and william Van Name, the
latter President OF tho Market Savings Bank at the
time Of its failure. Originally Henry r. ConkIing,
Secretary of the bank Of the defendants but
hc having died since the OF the suit 1t
was OF course, discontinued against him. The
action heretofore stated In the HERALD, was to re-
S37 900 and interest, making about 100000
In all, which II is claimed Van Name and Conkling
took the bank and lost In stock speculations in
the panic OF 1869. The money was taken from
the bank on three separate drafts, on July
Q, Is and 10, 1869, and charged as call loan
to Messrs Clapp & Grinncll, who had nothing to do
with tho transaction, the aggregate OF the money thus
taken being 500 600. Bemis is charged with having
been concerned in the srccuations he having gwen
Van Name and Conkng the information which they
acted. Tho 100000 was used as twenty per cent
margin on 900 shares Of New York Central Railroad
stock which stock tho memorable Black Friday fell
from PIT TO 146 causing discontinue TO the defendant
stock spectators and cventuatng the present suit
Altogether thcrc has not been moro interesting trial
the courts for time, and particularly throw
ing such flood OF light the loose manner In which
81 which,
Is all right for the spectators, but which, II
turning out otherwise cngulnng the bank In ruin and
cntalling dire disaster the con1dng depos.tors.
Tho feature of yesterday tho examination OF Mr.
Van Name. In his direct examination by Mr.. Cook he
told very straightforward story. He disclaimcd all
knowledge OF where the 500 600 came from. He only
knew that Conkling had told him that he had a firm
who would furnish million of money II necessary,
and as to the points given rs the basis OF spccua-
tion no understood that these given Mr. Bcmis
by Mr. Horace T. Clarke, whom he regarded as excel
ton BY Mr. Parsons no did not sail along quite SO
smoothly.
was one OF the questions put 10 him.
II don't know as could say exactly" he answered.
'If you can't who else cam" pursued the igid in
quistor. give me some idea Of your duties.
II was there to sign checks as principal officer"
ITO take charge generality"
WAS you there as a heurchcad, ornamental onlys"
eyes that is about ALL" uaughtcr.l
"A very good answer, very good" circulated Mr..
Dd you ever examine the stubs of tho three checks
aggregating 100000 which Conkiing drew, to
where the money came from"
81 mover examined thcmn
ibid you not feel any interest In what was going on
Eyes. Certainly"
'Knowing that large sums were being obtained
by Conklng, did you not LOOK at tho checks to see
whether by any possibility, he got the money from the
'rhe $50: 900 check, another $4,000 check and the
y never knew anything about IT,"
checkss'
s'Ncver.r
"Do you mean to stand by THAR"
CAT what time on Black Friday did you meet Mr..
Bcms?"
"Abont ten A. NJ. at the Market Savings Bank"
what happencd?n
on learning rom Mr.. Conkling that the brokers
were clam.sng for $3.50 600 margin we agreed in the
'In the interest Of the bank interrupted Mr.. Par
sons.
lin the interest Of the bank" repeated the witness
swell, 60 on
Eyes Il was in the interest OF the bank that we put
tona ("
In tho continuation OF the cross examination Mr..
Van Name said that no advanced money in the
speculatons, but given one-thrd interest Tor the
use Of his name. He acknowledged that Il agreed
between them that the bank should bear third tho
loss but he insisted that the placing OF the securities
as margin was IN the interest Of the bank His tes
mony concluded the evidence.
After lengthy and able Summing up on both sides
Judge Larremore delivered most admirable CHARGE
clear succinct and TO the point. The jury absent
dict for the plaintiff for $5s 400 u.s. being tho full
amount claimed, with interest
THE BATTLE OF THE RAILROADS.
Having invoked the interpretation OF tho courts
there seems to be prospect Of lively legal contest
waited Railroad companies upon the question whether
the latter company shall DO permitted erect its pro-
posed road between Amity and Fifty ninth streets
the route Of the former road. The up In
shape yesterday IN court
1t will DO remembered that after the Gilbert Ele-
waited Railroad had dug number OF holes beside tho
tracks of the Sixth Avenue Railroad, preparatory
laying the foundation on which the pillars rest
the Sixth Avenue Company obtained from Judge Speir
OF the Superior Court, temporary injunction and or
der TO show cause rcturnablc next Tuesday. Yester
day, before Judge Sper motion made by Mr.
Carter tor leave TO with the work for the
foundations OF the pillars pending decision the
der 10 show cause
This was opposed by Mr. William NJ Evarts on be-
halt OF the Sixth Avenue Company lie pointed out the
great Inconvenience OF these pits to the public and
argued that the defendants properly interrupted
IN their work. should not be allowed to I'LL up the
holes with masonry and iron, which The city might
have to dig out again
Mr.. Carter replied. pointing out that author
lied TO represent the public applied for this Injunction
but private corporation, who had right assume
to protect the public, Who on the other hand, clam
orng Tor rapid transit No rrcparabe injury TO the
Sixth Avenue Company, he claims, shown be
tho consequence OF these foundations whereas very
great injury would be done the Gilbert Company by
ntcrrupting their contracts.
At the close OF tho argument Judge Spcr took tho
papers, rcserving his decision
HURRYING UP A DIVORCE.
Martin Bcssinger after having been married about
wear IL is allcgcd deserted Dorothea Bcsstpyer in