The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-04-01
Exploiting the Abyss of the Black
Friday Gold Corner.
ANOTHER CHAPTER IN THIS CURIOUS CASE.
Important Supreme Court, Gene
raj Term, Decisions.
DISBURSEMENT OF PUBLIC SCHOOL MONEYS,
The Vacancy on the Marine
Court Bench.


There was another large crowd in attendance yes
terday before Judge Barrett, holding Supreme Court
Circuit, TO listen TO the further testimony the trial
OF the suit Of De Witt Taylor against Jay Gould and
others. Mr.. Gould. for the first time since the com.
menccmen Of the trial. put in appearance, occupy
ing seat by his counsel, with whom he in fire.
quent consultation during the examination Of the
witnesses.
Mr. John P. Persch the Wall street broker whose
examination was commenced on Thursday, was cross
examined at considerable length He said that when
he saw Mr. Could he in Mr.. Willard Martin l.
Co. IS Office, all alone; he mentioned the interview be
tween himself and Mr.. Gould to Mr.. Smith, he next
Mr. Gould at the Opera House Offices some time
in July 1872; Mr. Willard Martin there at tn Q
time Mr. Smith introduced him to Mr. Gould. Mr.
Smith said he wished TO see Mr.. Gould about the
Black Friday operations; he did not
very long, Mr. Fisk not there at the time he had
been at the Office before but not at the Presidents
Office; he could not say what time on Monday he made
his visit, but II not in the morning; he thought
shat the visit day in Juy-cerainly not
later than july no found Mr.. Sherman in his Office at
The time he couldnt recoect whether he could give
The exact words not, but he would do the he
could he didn't tell the conversation any one but
Mr. Smith; when he signed the release OF his claim
$40, 600; but he gave promise besides added the
witness.
~ didn't ask you that, said Mr. vanderpoe testify
On examination by Mr. Sullivan the witness was
asked about those promises.
Mr.. Beach, object; that was gone into last night
and there can be no object IN having unless they
want TO get up that laugh again.
Judge Barrett-That is all that can possibly result
from It.
The witness was William J. Woodward who
testified that he was an operator in Wall street in
fha ha tafnr LvsA NJ e. ~
hrm Of Smith, Gould, Martin Co, asked him to buy
gold for him. S., 600 900 OF it; he was not personally
TO buy but 10 get Lockwood Co. to buy, on margin
OF $3.50, ooo Mr. Smith gave HIM check for $3.50 000
and he gave TO Lockwood, together with the order
extern. OF between 81 oo Go or oOo on the
evening OF Thursday September 20, he called at
Heath's private office and saw there Mr. Fisk, Mr.
Gould, Mr.. Sherman and others; Fisk said they had
loaned out $50 0U0 0OO and they should have this pub
ished IN the morning papers in order to show they
had the 500 600 900 lney claimed; Fisk sitting
chair getting shaved; there talk about calling
on the parties TO whom they had loaned to settle at
certain price; Black Friday morning he called at
Heaths office and had conversation with Mr. Gould
who said the market was going up aud that gold would
sell Al 200 that day.
Cross-examined by Mr.. Bcach-He called at Heath,s
Office because he was interested in gold; he in.
,erested in the transactions OF Dir. Could VINO was
carrying gold purchased for the joint account Mr.
'ioud, Mr. Kimbcr and himself; he had interest ia
any purchases OF Thursday FRIDAY in the opera
tons Of Albert Spcyers or the Gold Exchange
Reexamned-rhe joint account Could Kimber
and himself was SO, 1000, portion OF which has
Deen sold.
To Mr. sullivan-The parties mentioned had, at the
time Of our joint purchase, substantially made
ner IN gold
The witness was then asked by Mr. Beach to explain
what he meant by corner and the brokers all
laughed The witness sad ]. was an operation by
which large purchases Of stock gold contract the
market supply; he could put 40 other construction
buying goo 0oo, 900 aud loanng IL out with only
Sl4uJo, 600 available; the loaung out far supplies
tho market; there a class operators working for
rise 81 stocks, but they generally work on separate
indN dual contracts
Lad tfied hat bo
business in Wall street in 1863; on the morning of
aas lr.@ay, at ten O'Clock, he was in the office Of
Sm h, Gould, Martin 4 Co.
he Court then took recess and on reassem-
bling lengthy argument took place on ques-
lion raised by the defence TO the mad
missi0ility o.. the proposed evidence about state
aents made by Mr. Henry saith while alone with the
witness IN his Office. Mr.. Beach concnded that dec
lsrations OF the individual hrm OF Smith Gould 4 Co.
should not DC bnfiug upon the other members OF the
srm, because IT did not follow that the gold transac
Sons OF which he spoke carried his
own individual responsibility. Mr.. Sullivan replied
the other side, ani Judge Barrett decided
that on the whole aspect OF the case, far,
would not be justified in excluding the testimony.
Read then further testified that the morning of
Black Friday he in Smith Gould < Martins Office
in Broad street, and mad conversation with Mr..
Henry smith; he told Mr. Smith he had some gold,
going up and they had sent man TO raise II
l5o witness said II went up easy, and asked whether
he would advise him TO mold on 10 his loId; Mr. smlh
replied, you may do you like about that, but tell
you that II or we The could not remember which,
mean TO make every OF these damned fellows settle
gold over $50, and sold 4, 900. 600 TO Mr. Speyers
cfoss-examined by Mr.. Shearman-He sold at 100;
gold had then broken; within five minutes after he
bought back 500, 900 at IA and gold went down like
shot laughter; witness has SUIT against Mr..
Could and Mr. Could has against him II refers TO
this very gold he knows it, because he read the-oh
what do you call II writ, or something. (Taugher)
All the above evidence OF Mr.. Read ruled out
concerns the defendant Bach
Albert Speyers recalled but his direct testimony
was stricken out The witness then looked nquringly
at Mr.. Beach, but that gentleman bowed smiled and
waved his hand 10 the witness and the latter gladly
retired, amidst laughter. judge Barrett here an
nounccd TO the jury that he had hen requested by the
counSe, some whom arc unwel not TO sit ON Satur.
day. aud, he had imperative business TO attend 10
Monday, they. would not meet until Tuesday morn
ing In the General Term room His Honor added that
his attention had been called 10 a circumstance which
he did not TO lay before the public, but 1t sui
Gcent make him repeat his caution the jury to be
careful to avoid conversng with any among
themselves about tins
The Court here adjourned 10 next Tuesday. Judge
Barretts remarks to the jury caused desperate tut
ter OF excitement anon est the brokers.