The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-05-04
PRICE TWO CENTS.
FRIGHTENING WALL STREET,
THE SIORY fBOUT TfE DHLAW4RE lND
HUDSON CiNIL COMP4NY.
brokcr iimpson, Lawyer brown, and Ao.
c"""'"nt Si"" Indicted for conspiracy jag
Gould's stocked obbing Tribune lSrb,,l.d

Broker rimpson. Lawyer Brown. and Ao.
c""ntnnt SLOW Indicted for Con ~pi rn.y-,yav
Gould's stock Jobbibg Tribune iSrbul. ed
The Grand Jury Of the General Scssions
devoted several days to the invcstigai on of tho
rumor recently published in jay Goulds Trib-
wse that tho Delaware and Hudson Canal Com
pany was in an cmharrass ID condition. aud
likclytO pass into the hands Of n receiver. Yes-
terdny they indicted G. 7. TimpsOn, broker;
Edward +. Brown. lawyer: and George w.
Stow accountant. for conspiracy in starting tho
rumor for the purpose Of affecting the price OF
stock. The Grand Jurors also signed tho fol-
lowing urcscntmcnt;
TIL Grand Jary Of ths city and county OF New York,
icctip the credit ~ u,e D.awnrc and Hudson canal
ttptd by ne public pres. c.fccidly by The NJ.
w., im" ,lSN anl T. YIN. n.e,tail it such fumor.
emri1iigtiN protest and condemn the circulation
same has boon .ccrui.ncd nni conarmc whether thcy
credit the ,.rust oi sccuiinr. hc wreck {" Tor.
,i s ~, & ~ ,.,, % 2 ana lnti inoS nS ul93n l3 u,
an9sb To- ,b at,e oT S'i s m H. s1Sn n oT "5 .d a,
person or ptrsons
The history Of the indicments found Ia ns
follows Some two wecks asO Wall street WIS
thrown into groat excitement by the report that
tho officers Of the Delaware and Hudson Canal
Company hnd asked u have IA receiver appoint
'u I'M sioux llitl H'rn tnr victim Di "a bpnr
movement which, with the bankrupt y Of other
coal companies, had driven il down nearly ilf.y
per cent This had prepared the street 10 lend
"a crcdulous ear tu stories OF further dsuster;
and when the rec"ivership report came, scem-
lngly well authenticated somcthing very
like "a panic In the stock rnsuod Auhourl tina
report WIS author r.tHtively contrnd,,tcd within
an hour OF i, publication. considerable loss
w,s sustained by tiniG holders.
=. Eyer since the on ors of tho Delaware and
Hudson Company have had detectives tracing
the mendae eOus rumor to its source Tho pro-
cesses Of the Grand Jury were placed a, their
service, ana numerous with ~ were ex-
amincd. Mr. G. f. Timpson -tinnd that he
was in his bgnkins. hour' on the day in qurs-
ton, A boy hand Il him not, from Couns ,llor
L. f. Brown, informing him that receiver had
boon applied Tor ~ the Delaware and Hudson
ComuAny. Having clients who were draln. in
them the point and one of his clients imme-
dintrly directed him to sell loo shares. Coun-
years. ana. IS tho eouns 'lor was cundurtng
suits against the canal company hs considered
ny ininrmat9 trustworthy. and acted IN il.
=. Mr lwird +. Brown told ~. Grand Jury
'ountant. who hud examined tn reports Of tho
canal company as Hn expert.
Mr. stow, whcn .lllai upon e. rNrlain gave
nam". tho owner of which mas n,i boon found
by the s,ryrr oi thc Grand jury's -utpTnas.
Nirc-Prrsl ldcnt OlipAlut uu.ut"d ont tine cir
cumsnn'r that Mr.. Brown Is IL at rney u H
III. Anderson. vino. rs "a -, kholder. sued to
have the Delaware and Hudson Company
months ago. As a result Of that -u.t tlr street
had Dren thrown INT? great y cement hy an
granting Mr.. Anlcrsons prayer ipr tho ap-
pointment II u rc''lver. II was speedily dis-
covered that If judge Donolue sisnrd the
hsnSion OF its contents. Mr.. Stow had made
affidavit. as an expert, in Andcison's suit. that
estwnt"d and mat thn concern WIS insolvcnt.
You s"e. said Mr.. Oliphant to the reporter,
they bucked against "A ston" wall when they
too strong for them"