The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-03-29
Another Of the Black Fri
day" Suits in Court.
MYSTERIES OF OUR GREAT MONEY MART
A New Suit Against Duncan,
Sherman q Co.
Action to Set Aside the Adjudica-
tion Of Bankruptcy.
Judge BlaichfOrd'S Decision in the Lawrence
ExlraditiOn Case.

Amid the rocks and shoals and quoksands of Wall
street thcre never swirled such seelhing m@lstrom
the oath of September 1872, memorable in fnan
cia and commercial circles 'Black Friday" Grow
ing out of the great gold gotten up on that
eventful day, of which Jay Gould and James Fisk Jr,
the alleged head and front, has been amoant
Of litigation unparalleled and the interests
Volved. Among the various so-called "Back friday
suits there has been none OF more importance than
that brought by De Witt Taylor against Jay Gould
aud others alleged to have been cooperators IN getting
M the gold corner, the trial OF which commenced
yesterday before Judge Barrett holding Supreme Court
Circuit the jury in the simply having been
In the previous day The plaintiff is represented by
Messrs Sullivan, Sewell Peckham and Grover. while
curiously enough Mr.. Gould is defended by william A.
Beach and Thomas G. Sherman. When the court
opened but little time lost in preliminary bust
ness. Mr.. Sullivan promptly opened the case, saying
that the plaintiff broker and member OF the Stock
Exchange that on "Black Friday' he was there
matter OF fact To sell 5000 0C0 and that he sold this
OF his gold Albert Speyers $500 0O0
currency The defendants, Jay Gould, James b. Black
Henry A. Smith and Henry A. Mott, with James Fisk,
Jr associated themselves for what they called bust
proiect-that is to say, TO make money by
raising the price OF gold, and by purchases and
sales conducted by them. Mr.. Spoyers was there
rs their agent, and by their directions bid prices
raise tho price OF gold, and they finally got up great
excitement, the figures running up very high In the
of the day Mr.. Speyers gave the plaintiff,
cording to custom, a memorandum of the contract
which has been lost but substantially, If not
literally thought IRON Dc Witt c. Taylor 5000 900
American gold coin $500 900, for account of James
Fisk, Jr., and associates. V. Speyers" Within
hour after the sale the plaintiff deposited in the Farm
ers' Loan and Trust Company the margin OF 500 600 to
the other side and notified Mr. Speyers deposit
twenty two per cent OF the purchase money, accord
Ing TO the rules of the Exchange and he said he would
DO He was requested again and again, ana finally
liter two O'Clock, said he couldn't and wouldn't In
Nher words as the circumstances developed the de-
endants were unable to pay The storm had broken
over their own heads According TO another rule Of
Ihe Exchange the piaLtln had the gold scld by an
officer OF the Exchange that day, but prices
aad been rapidly falling from the forced artificial
It then but l33-and the plainuG sustained
loss OF 500 700 for which, with interest he claims
verdict The defence they make Is prcdioated on the
statute which invalidates gaming contract Their
theory Is that, admitting all our FACTS II was shadow,
not a reality that II evasiye. gaming
lion, and not enforceable That, he GAINED, is the
character in which they represent themselves IN the
Transaction and they TO have the benefit OF il let
II be onerc. He contended, however, that far
plaintiff concerned they dealing with no fancy
or ncton Ho not selling short but had the money
AVAILABLE, and, to show his disposition, deposited
f60 900 the contract He insisted in concu-
ZION that the case was clear one that the validity of
The claim could not be questioned that was regular
and legal business transaction The part OF the plain
h1 and that there could be possible doubt OF his
claimed.
Arcr a statement by Mr. Sherman that Messrs
Gould and Black the only defendants who had
been served in the case Albert speyers was called the
first witness The defence objected TO his testimony
on the ground that he was interested in
the suit being liable personally unless he
was the agent of the defendants. The so
ruled. The plaintiffs counsel then handed witness
full release, and the Court held he no longer in
lerested This preliminary matter having been settled
Mr. Spcyers was allowed TO proceed with his evidence.
He testified that that Friday morning he nitro
cuced to Smith at Beldcn's Office; FISK and Gould
there; Fisk nodded to witness and said smith,
"Heres SUeyers, smith then directed him TO GO over
and buy millions of gold he did so, and returned
the ONCE and had conversation with Fisk aud
Smith. In resumng his testimony alter recess he
Hcaths Office with Mr.. Beden; Fisk Gould ana others
there Fisk and Gould were sitting close to each
pthcr; he said he had about 81, O00 900 OF gold
hand which he couldnt loan he thinks he addressed
The gentlemen present. Mr.. Fisk said
Here Mr.. sherman, who had kent up running
Bro OF objections during the testimony, again jumped
MP and said al object" The audience laughed. OBJ
lection ovcrrulcd.
Mr. vanderpoel here objected that the testimony did
not apply to Mr.. Black as he was not there. Tho
Court ruled
witness went on-Mr Fisk said ''Smth will take
million and you Heathl the other = the reason
he assigned for not beng able TO loan was that Mr..
Smith had limited him.
on Friday morning he met Gould and Fisk at Heath's
pfice. Other gentlemen were there. Fisk IN his
Bhirt sleeves He said to witness in pretty loud voice.
ITO over 10 tnc nOiu iN"ums guy you get lot
tlI5." The market price the day before lI3ls.
He made several operations, and the limit OF l45
reached before O'Clock At this time a slip paper
from Fisk was handed him, and he went on buying up
10 $50 lie tola TO put it mp TO 100 He continued
10 buy IL up until 1t reached 100 During these opera
lions he several times TO Hcath's Office ana
ported he doing To Fisk and Gould.
lie was instructed by Smith, In the presence Of
Gould at Hcaths Office 10 30 buying all he could
ret at 100 lie accordingly went back and continued
bdding. He threatened that he would be killed II
be continued Heath VINO the Exchange. said
III you don't want 10 buy more at 100, will lie
then went back and reported aud Fisk said at is
pt your business buy all you get at 100 II gold
10 30 down to parn Gould was lying the sofa
cred with big newspaper He asked Fisk for
gin Fisk said 1t would be all right Mr. Brown iron
whom he asked 81, 900 600, asked for margin.
The Court here adjourned TIL this morning