The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-10-28
How the bankrupt Firm OF Nngic a. Go. were
Inv olvcd In the Svindic.

PHILADELPHIA, Oct. 27.-Juhn II. Magic,
who is indicted ana under sj0OO0 bail with
John S. Morton. tho President of the Market
Street Railway Company. who was discovered as
having recently ovcr-issucd stock of his COM
pany to the value Of II million dollars, is still
further involved in the fraudulent transactions
MS appears by the statement of the President
this afternoon. Magic a Go. were the parties
who got up that miserable catalogue for tho
Centennial Exhibition.
At the examination into the affairs Of the
bankrupt firm Of John II. N1glc * Co.. this af-
tcrnoon, Mr.. Morton testified that Samuel l..
Huhn. treasurer OF the Market Street Hallway
Company. Of which he tMorton) was President.
was also at the same time n member Of the firm
Of Na2le 4 Go. In 1871 he tMoron) discovered
that iho balances Of the railway company in
bank were very low. and an examination do
| ycloped the fact that Mr. luhn had taken Tor
the firm of Nnglc Il Co. the sum Of 100000.
| which resulted In the firm executing Judgment
note to the company for that amount MIR. Magic
acknowlc edged having received ;hc money;
To" judgment note wns placed in box in the
Fidelity Safe Deposit Company. He lNIoronl
| did not cOmmuncair these facts to the directors
! Of the company. and neither the note nor the
/ S3uOOO subsequently appeared in the accounts
| Of the company, Both Mr.. Naglc and Mr..
! lluhn promised that IL he would not report the
facts as T. the s3O.UOn. they would not take an
/ other dollar without his knowledge. and assur-
/ ed him OF their Intention Of paying Il oil. In
/ Nrpt"nb'f. lNtb. however thcy 'hiltu on lllm
/ ior financial assistancc and said that unless
they got II they would be- obliged to fail and ac-
kngwlcdgr to having taken 100000 in addition
| 10 the $4,000.
The examination proceeded as follows:
9.g; I'm, nsTi@f n@d sc9 4 9gmoneS IN and GaymSn,
had frequent intcr,icws with both ihr subject ard
belief that thcy wcuid soon be allie 4" pay it
V-fau took no steps enforce payment y process Of
;3ihc they said they had used the moie, for the pur.
G,. 90 ,msrsii r,I ni,m, $; .nd M @ ai',a a., asfy u
| ny "a iudsmcui no,' for the additional amount
| sum- A-Mo.ty 10y their own admissions Mr. Huhn
hal matters c',crcd ~ 20 could not get At II very &C.
nation "a, t. how ihcy had taken the money other than
| hat they had done 20 don't remember whether I
| glow could that sum be taken from the company
without your knowl,d.c' Al cannot int.ilis.nt, AN
Some ut tho money t- last was taken With my
knvw,dgc or cnn>cnt-not Jingle dollar Mr h ,
| last NOT" besides Naslc ani Huhn The note was IN
trusted To the usto, of the secretary I, dispose o the
communicate ,hi, sccond taking OF money and note to
/ tie directors
an cAnuuauon o the accounts Of the company. and
s had hoic they would ya, the entire dc IN 50 that
q AZ hi. Time wcrc you Yourself IN inieht
oltot company Al do not think was inichtcd ~
tho ooufanv WAS uot onh nom fear W the eNpo
'ufc oi thg~. ,y' n,",. hai in rg,c,t'ncS to u.c
nmiar ani which Wa the reason igr u,cr taxing the
| mgmy. kngNlns m. hands were tied NJ Nag, ur-l
! Judgment note wa .iNrn
Messr- Isaac G. Price and William II. Pen
/ rel to-day became security ior The additional
/ SIS Onp lnil rtuuir0d from John :. Morton. pN-
President oi tic Market Stree; halfway Com
pany Judge Ludlow has Issued an order re-
guIrial, all the dcicm liant, in the above case Ia
! appear in court on Mon lay morning. when q
consultation Will bc held and day fixed for the
| tIlul