New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-02-16
THE COURTS
THE GALENA POOL.
MORE TESTIMONY FROM Mr.. BooDy.

MORE TESTIMONY FROM Mr.. BoODY
The trial Of the suit Of Henry II. Rood.
against William b. ogden. Samuel J. Tlden, and Geo
N. Bartholomew, was continued yesterday befo,o
Sedgwick. The whole day consumed with tho -.
examination Of the plaintiff 10 the details 0, b,
and the resources In the Galena pool supplied m =,
other persons He stated that he had about Sj,o o =
the Chicago and North Western Railroads. funds 49,.
which indebtedness Of Mr.. Ogden fo- a..
$3.50 600 reducing the resources from that or.,, =.
I about 100000. n no account was made Of Ocds.,.
debt but he supposed 10 have the whole $50 Ca
then the whole outside resources reached ss5 oo ~,
some $4,000 or $4,000 paid out meanwhile To- a.
company. Mr. Ogden had authorized him to u,. ,h,'
money In the pool. Mr.. Ogden was president Of ~.
Chicago and Northwestern Railroad Company ana 4.
would have done any proper thing directed By ",
Ogden.
Mr.. Niles stated that In Chicago Mr. Ogden had =.
yanced 10 tho company than all the fund. r., a.
hands Of Mr.. Body. On the redirect exauinatio, =,
later stage testimony by DR. Body that no vote n, a.
directors had empowered Mr. Ogden 10 give s,ch IS,
was rejected, the ground that II was for Mr. ova :,
show lie had such authority lawfully. otherw., N,
Body held the money banker Of the company suboe,
TO the dnties which that position implied
Mr. Body said that in fact he had only s3eooooo a,
conpanys money in his hands, reckoning tina, a.
personal advance by him since he was personally I,k
for IL % the company bis own contribni,on. n h ~
during the panic OF 1864 nearly S7OoOoo A, NJ
time was there any lack VI ample collateral The di@
Guilty WAS that one would lend on any cJlaser.i
during the panic. On the first day Of the panic hi. "a
yances about 100000, On the last day sh~,
$500 900 this being all his, counting the S33sGO a. b
money.
The pool WAS q venture by which those In Il wanted IA
make money as well 10 cec the consolidation m ~
Chicago and Calena Union companies with the Norfh
Western Company Perry II. Smith, YieePr.sident N
the NOrtIH Company AZ that time, had charge a
IN In the West George Dunlap was me Superintendent
The witness had settled with George 81 Bartholomew
one OF the members OF the pool for $1,000 aid he hal
given q receipt in full IL Bartholomew lie made fbi,
claim against the parties 10 The pool in the f is75
Iic had made claim them from August 1851 uauI
1879 for he did know during the interval " tue fact
that they had received 0yerpayments. Mr.. Tden Wa,
present 1T most Of the interviews IA reference w con
sOlidatiOu.
on redirect examination Mr. Body testified that the
cause Of the in bis settlement h. -64 when
ne mace the adjustment OF the pool accounts vita Mr.
Young as Sr. Dxlens clerk, they elected 10 examine
his lr BOodys private account. On the Interest 10
,ait there was III 73 33 charged 10 lis private 40
onut which should nave been charged 10 the poo.
bOokkeepe!s error had placed sale OF LOO shares u
common stock belonging 10 Lin privately 10 the credit
of the Uool an error easily happening wncn they were
receiving th9usan!s Of sD0r.B day. TEe Gm5ant 20
credited was $4,000. On the OtAcr anl 900 shares "
Preferred stock were credited ~ lin worth $4,000 the
difference being $1,000 In favor OF the pool From
auo;ner MISTAKE the pool prouted about $4,000 az us
expense Since the charge was made l1at Ia lad received
$50 shares preferred stock he mad over BIS list OF
H. shares so that there could Do no sneh 40 shares
transaction alleged by defendants He hid bst
S7I 900 By sacrificing his stock 10 save the l05
sock When this became necessary Nf Ogden said he
p,yl must be carried at all hazards. IL We tau shall
We dissraeed entirely and 1t will be utieI rum