The New York herald., 1877-02-14
An Eleven-Year-0Id Stock Pool Trans
action Brought to Light.
SUIT AGAINST SAMUEL J. TILDEN
Rise, Fall and Decline Of the Great Emma
Mine Bonanza
BUSINESS IN SUNKEN LOTS.

Samuel J. TiIden and others was begun yesterday
before Judge sedgwick, holding Special Torn OF the
Superior Court Both the complaint and answer in the
have been published at length in the HERALD and
II is therefore again recite their contents
beyond the statement the fact that Mr. Boody
complains that Mr. Tden owes him somo $26 900 on
stock pool formed in 1854 which he alleges he
paid to Mr. Tden in Of the sum due him, under
a Misrepresentation 10 the pro6ts arising from such
pool trapsaction, and that any such Indebtedness Is
denied the part Of Mr. Tilden and his codeiendants
Mr. Boody was represented by Mr.. Dexter Hawkins,
and Mr.. Tden by Mr. William W. Niles. IL
anticipated by some that Mr. Tilden
would put appearance, but he not
present yesterday, although he will be examined 1t is
stated before tho conclusion Of the trial. whch promises
20 occupy several days. After Mr.. hawkins had
opened the case rectng the leading points embodied
in the complaint he called the witness
plainant who proceeded 10 tell in detail the crcum-
stances giving the present SUIT. He testified
that had known the defendants since 1857; that
he had business transactions with Mcssrs Ogden
rilden from time TO time during all his acquaintance
with them, In stock operations that in March. 1864,
Ogden was director and president and member OF the
Financial Committee OF the Chicago aud N orihwestern
Company; that he was at the same time member OF
the Executive Committee, director and banker ol
company In this CITY, and that Mr. Tiden was counsel
and Juno, 1864, he became director at the time
cago then president and James X. Young
The secretary, the office was at No. Wall street, his
office also there. and Mr. Ogden accustomed
do business there when IN the city, he paid half tho
rent and tue railway company the olher halt he knew
OF the Gaena and Chicago Railroad Company; II com
peted with the Chicago and Northwestern at some
points, he first had transaction with Messrs Ogden
and Tden in relation to the consolidation OF the two
roads March %, 1864, AZ New York, on The steps
the entrance 10 Nos and 10 Wall street, little be-
ore ten o'clock; no one was present besides witness
and Mr.. Ogden Mr. Ogden SAID :--"Boody have been
contract that Is made with hem;' he said, al think
bad better buy stock enough to contro the next cleo
CON- which witness consented to; witness told Mr.
Ogden that the OF the scheme depended upon
their keeping their own counsel; witness
have help from him; witness told Ogden that
he must take 5000 shares, which he consented to
tho same amount; witness went to Mr. Booths office
and told him the conversation, and he approved OF
the measure; next saw Mr.. Tilden at his Office and
told him the conversation and he expressed his
approval; he told Witness In his peculiar manner,
that he never went very largely into anything, but
would take 1000 shares he then went to tho brokers
aud ordered him buy all stock he could 126
Mr. Ogden expressed hts TO these sactons
he purchased 900 shares the first board that day.
he went to his broker 20 have him continue the pGr
chase; he met Colonel Ashley and he told him that
Galena was very active and wanted witness to go into
pools witness said TO prevent such catastrophe no
asked him not TO buy share; 900 more shares were
fought that afternoon on account OF Messrs Body,
Ogden and Tilden's pool saw Ashley again in the alter
noon, and the result was continuation OF the pool
With Ashley and his friends as parties, so as TO
arrangement between witness and Ashley was
Told to Ogden and Tilden, and they accepted
in words Of strong approval; after this arrangement
III the stock should be bought through Ashley and
ais agents and thcy purchased all the stock for the
pool to consolidate alter that days operaions the
stock all purchased before the LIST OF April tho
nock taken up, portion at least day. nearly
$500 900 WORTH and they continued TO take up within
Two or three days, nearly 600 900 worth portion
pfthe stock which Ashley and others bought taken
up by witnoss he saw rden ana Ogden again after his
first interview about the 3lst OF March AZ his oince;
thase etn,nN had thncA hi,.
nor had Mr.. Ogden Mr. Tdcn suggested to witness
about that timc III regard 10 now the great mass OF
tempt to carry so large an amount on call loans and
that much as possible should be bought on time
loans, and he refere TO the firm OF Coleman Co. as
proper persons from whom TO borrow money.
Az this point the Court took recess, and
on tho reassembng Of the. Court MIR. Boody
continued his testimony. He SAID that they
went down to Coleman's and Mr.. Tilden intro
duccd them 10 Mr. Robertson, the capitalist OF the rm,
aud then LETT him make his arrangements; previous
to thus witness told Mr. TiIden how many shares be
witncss) had taken up, and was carrying call loans.
the amount being about 81, 100000; this was in re-
sponse TO an inquiry from him; an arrangement was
made 10 engage $500 900 from Coleman Il Co. witness
gave references to Mr.. Booth to Mr Fish, president
OF the Marine Bank; William 3. Ogden and made
drafts Coleman Il Co., who accepted them on four
months, with Galena stock collateral; the loan
for considerable part call loan awaiting the sale OF
call on MIR. Robertson was April Il witness reported
to Tllden and Ogden the arrangement and they were
satisfied Mr. Ogden consented to sign the paper some
OF the Ashley party fearful tho stock would
TOO much and there would be loss, and Mr. Sands
ADVISED TO sell out at the then high rate of Ca
lena and abandon the consolidation; witness told
Mr. Ogden and Mr.. Tilden that they could get along
with what they had and that witness had 5000 shares
C his and could get two desirable proxles that
they could control the election; the question de-
bated by them with Ashley and Sands, and the result
agreement to give one share OF Northwestern
stock and Of It's preferred stock and SO Tor every
share OF the Galcna; up TO that time l6 $50 shares
nar ooen oousn' py on oe e
shares; the IT, $50 shares So 100 00o at the time
when the panic OF 1854 occurred witness carrying
Tor himself and associates large quantity of this stock
the call loans we're 81 900 900; he informed Mr.. I'll.
den and Mr. Ogden that payment was demanded that
day; In looking for money TO meet this demand be
found he could borrow Galcna stock or
anything else except governments they
consternatiou Mr. ogden said he would give witness
$4,000; | couldn't help him more Mr.. Tden gave
him help; witness arranged with some OF the
parties TO defer until next days somc he paid and they
10Th, and Mr. ogden SAID he was the most miserable
man IN the world TO effect financial arrangement AFR.
Ogdcn took 1900 shares OF tho preferred Northwest
stock and Mr. Tilden 5OO, which would be worth
&45 0OO and gave his cheek for $4,000; Mr.. Ogdcn's
clerk and he did not look over more than four OF tho
seven accounts of the transaction and no formal
statement made OF the interests Of the parties but
a pencil memorandum; Mr.. TildeD has not paid any
more money account OF the 300 shares there was
placed $4,000 to Mr. Bsrtholomcws credit
as tho result Of tho transaction, OF which he
has repaid 5000; the accounts Nero kept At No
cling made by witness and Ogdens clerk Is lost;
items were excepted IN the calculation OF pront wit
moss clerk DcCaine partner III ioof anu hcW ooohS
we're made out and the old ones substantially lad
sslde tho clerk set up tor himself subsequently and
telt the city.
O. When did you discover that two items OF Sl2, 900
ana 500 256 IN pool account had been paid over
The railway company as not belonging TO the joint
transaction? /?
Question objected to- but objection overrued
A. These items had nothing to do with tho joint
Transaction and yet they used in making up the
tootings.
The Court here adjourned I'LL this morning when
the trial will be resumed.
THE EMMA MINE BUBBLE.
The suit Of the Emma silver Mining Company
uganst Trcnor w. Park and others was resumed yes
tcrday morning before Judge Wallace, In the United
States Circuit Court. The question hrst before the
Court was the motion made tho previous day to dis.
miss the complaint great deal OF interest felt
as the result Of the motion. This was, however,
soon set at rcst as Immediately after Judge Wallace