New-York tribune., 1877-05-05
A MODEL GRAND JURY.

There never was such another man "a Gedney.
Never was there such another jury as that Of
which Gcdncy was the foreman BY the way,
here ia tho full list of the immortal twenty
three:
WM A. GrpNGY, sATrRL T. TOBThs, A. r. sATrERTEE,
srFG T. MEIER, DAS'I y. BEDELI, WH G. MARTIN
CHARLES WOoD.s MATHEW CLINTON, PETER " VHusrrD.
JONI b. M,niw. TEMPLE PRINCE, JAsE5 W. FAMES.
rHos Woopw.RD,W ,WSL II. GoADLEY, DEARRN g. PmER,
Jops PYNE AUG. l.. CLARKsoS, u. q. GREENBAUM,
LEVI, p. CuuA. wA. G. LYON, BESoIT KAHN
PIERRE MARIE, ISAAC HOFFMAN
These gentlemen all deserve praise which
the English language is inadequate to express,
buf we fear that they did not complete their
work. Assuming that all unfayorabie rumOrs
regarding the Delaware and Hudson Company
were false, malicious, and caiumniOus, and
were circulated only by persons who knew
them 10 be false, and that the steady and con-
tinunus decline of the stock, not for
dav. or a week or a stock -jObbing cam
pagn. but through the past eight months, from
Il5 to below 4O was wholly without just
cause, we respectfully submit that about
twenty thousand other indictments should have
been cound. The Grand jury should have
held those people personally responsible, who
connected with the company had caused all
the papers to be prepared for an application
Tor the appointment Of receiver. but,
at the last moment finding that certain
hints had gone abroad, and had materially
Affected the chances of making a brilliant turn
in the stock. concluded to suppress the papers
and 20 dcuy stifIy that any application had
oyer been made. This rumor, no doubt, many
people will swear that they heard and be-
lieycd, and that they repeated it in business
relations fully believing II to I've true. But We
know that il must have been false and ma
lici0us, because those most honorable gentlemen
the managers Of the company say that 1t is
not true. and because nobody could by any
possibility question that their word and their
Judgment are alike absolutely trustworthy.
They have said from the beginning that the
stock is worth just rs much as il ever was
and of course they arc right
Also, the Grand Jury neglected to ndict the
few thousand persons who reported, and pre-
tended to believe that the Delaware and llud-
son had borrowed 81 800 900 from the Bank
of Commerce. Clearly, no man could
have believed this story Fol, first, the
Delaware and Hudson never wanted to
borrow any money. Aud second, the
five directors of the Bank of Com
mcrce who happen to be also directors of the
Delaware and Hudson are all honorable men,
who would not use their position in that way.
In short, any man who repeated this state
ment, pretending to believe it, must Of
necessity be a knaye, who repeated q story
knowing that it was not true, and who ought
to be indicted and punished for his crime.
The only thing that seems to us weak in this
performance of the Grand Jury is its omission
of several thousand persons who should have
been indicted with the rest Mr.. GcdnCy and
his associates ought to have known that at
least five thousand men and more did precisely
what was done by the five who were picked out
for indictment. Perhaps there is not an atom
of evidence that the greater number ma
liciousy repeated unfavorable rumOrs, know
ing that they were false; but We take il for
granted that nobody expects to prove that the
few persons Indicted knew that their state
ments were untrue. On the contrary, when they
sold stock or advised customers to SELL il is very
natural ~ suppose that they believed the state
ments themselves. But the jury. as a bulwark
of American liberty standing up nobly for the
corporations, and entirely Indifferent as to the
deceived and swindled public. perceived that