New-York tribune., 1877-05-16
TIE GEDNEY GRAND JURY

TIE GEDNEY GRAND JURY
II would be a misfortune rising almost to
the dignity of a public calamity if the Gedney
Grand Jury should be allowed to 90 out OF
sight so soon after distinguishing Itself as Il
buwarx of public confidence. And yet there
seems to be danger that it and its great
achievement will soon pass out OF the puDilc
mind and be forgotten. Nothing could be
sadder nothing more discOuraging to future
Grand Juries that may aspire to be DulWarks
of public confidence and props OF falling stocks
For out of the indictments they found, nothing
seems to come. Whether from a defective
administration of justice, or a growing lndlf-
ference to the Grand Jury us bnlwark, or a
prevailing impression that it would hardly pay
to devote all the machinery of the courts and
all the processes of law to keeping up the price
of Delaware and Hudson, there seems To be no
tangible outcome from the Gelney Grand
.JuIys indictments. Are we then to have
nothing but noHcs from those solemn and
serious procecdingsP Is nobody to smart
for the fall in Delaware and Hudson
Shall neither Brown nor Timpson nor
Stow be brought to bar for their iicnd-
ish insidiousness2 Shall these cOnSpiratOrs
against public confidence in Delaware and
Hudson, already indicted by the Gcdney Grand
jury in the most eloquent terms go unpun-
ishcd to repeat perhaps upon some other oc-
casion their doubts of the sOundncss OF some
other stock in which the Gedney Grand jury
has unlimited confidence, and perhaps send 1t
down on the Gedney Grand Jury'S handSY 1t
begins to lock so. Little announcement Is
there here for men interested III stocks to go
upon grand juGies with a view OF sustaining
public confidence in them.
And what, pray, then, is the use Of having
bu.wart of public confidence, or Gcdney,
or Gcdney Grand Juryi And what cncOur-
agomcnt for Ccdncy, or any OF Gcdncy's
friends or Gedney's Grand jury, or any of
Gpdn.v's Grand JIry's friends, to hold Della
ware and Hudson for a rise Is public conf
dencc to be smttcn in the face as it were,
aud chol,cd till it's black and blue as soon as
Gcdney's Grand jury, friends get loaded up
with Delaware aud Hudson, and nothing done
about it7 This is hard. Never did a Grand
Jury take higher ground than Gcdncy 5.
Having carefully inquired concerning GER
tain rumors affecting the credit OF the Del
aware and Hudson Canal Company, lately
circulated by individuals and reiterated
"by the public press, especially by Tie
"NEw-YORK TRIBUNE, and having asceItaGed
" that such Iumors are wholly unfOunded, un-
" iustifabe, and false this noble Grand jury
did "most emphaticaiy protest against ana
condemn" the rumois and those VINO orig
mated them. Then they said in a kind of
spreading, benefcent way, "The impair
"mcnt Of credit, the distrust Of securities,
" the wreck OF fortunes OccaslOned by
snch false and calamiIOus reports, impose
"upon us the duty of presenting any and all
persons found guilty Of fabricating, crculat-
ing, or publishing such reports as amenable
/" to the statute provided for the punishment
"of such person or persons" Then they in
dcted McSSrs Brown 1impS0n ana stow, and
forgot to indIct THE TRIBUNE. Wili it be
believed that the District Attorney has noLed
one of these indictments and shows signs o.
making similar disposition of the rest And
not only are the cOnspratOrs unpUmished, bat
the stock has fallen still lower. This is worse
than failure it is blue ruin AVID no insurance.
Thee have been few institutions tha, prom
ised so well at tho outset AZ the Co. G. j. 1t
was ushcrcd into cxi5tcnce-tlat We think is
the way Gcdncy would say it-at Il time when
the confidence OF investors in Delaware and
Hudson seemed to he ehaly. 1t undertook to
strengthen confidence, keep mp the stock, and
punish the guilty persons who went around
uttering what the South Carolina legislator calls
"insiuucnd0cs" 1t cannot he said To have full
| filled its promise. Confidence Is not restored
| by several points, and nobody has been put
in Jail. And yet we would not have
it 20 out 50 untimely. Something may
yet he done for public confidence. 1t
occurs to us at this moment that on the street.
cars there are signs displayed, "Beware of
pickpockct5." This Is case too where
confidence is impaired by the circulation of
! false and Caamitous rumors, and the Gedney
| Grand jury could hardly do better than in
Diet the railroad corporations for causing in
| this insidOus manner t" the impairment of
credit" and "the distrust of securities. ("
! Gcduey, boy Go for the strcet-raroad cor
| pOIatiOns! Restore confdcncel Bull stocksl
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IRONCLADS md TORPEDOES.
ID. In in Il. 4