The New York herald., 1878-12-21
CHARTER OAK CONSPIRACY TRIAL.
AN UNEXPECTED ENDING OF THE TESTIMONY |
FOR THE sTATE-EvIDENCE FOR THE DE- |
FENCE.

FOR THE sTATE-EvIDENCE FOR THE DE-
FENCE.
HARTFORD Conn. Dec. 20. 1878
In the Charter Oak insurance conspiracy to-
day the evidence for the State to q sudden and
unexpected termination. The prosecution spent
couple Of hours during the morning session in
putting in evidence to show that the property Of the
New River Car Company. including the Quinnemont
iron furnace, all owned by the Charter Oak had been
very largely ovcrvalued in the annual state
ments of the condition of the company
made by the accused Surveyor Thurman, of
Fayetts county. W. Va. testified at length
as to the low appraisal OF property. but
examination admitted that he had valued the lands
mainly as to their value timber &C.. rather
as ore lands and that he knew nothing the cost
Of the furnace and buildings. John A. Carson,
veyor OF Allegheny county, Va, testified to ap-
praisas Of large tract of land, nearly three thou
sand and another tract of $3.50 The lat
ter, with buildings. sold ut auction few years
ago at about $4o,oO0
THE THREE MILLION CONTRACT.
J. g. Patterson, president of the Travellers In
surance Company, presented and testified to
memorandum of the contract by which Furbcr OBJ
tanned from Matthews the downtown property. the
transaction being that known rs 'the s3vO0.000 pur-
chase" The figures were the same those testified
10 by Special Insurance Commissioner Cleveland as
the time of the investigation of the c)panys affairs,
and witness not Cross-cxamincd
WITNESSES
THE State Attorney ut this point informed the
Court that he had but two more witnesses to call
Messrs. Taylor and Fernald, of New York-who had
appraised the New York downtown property at
the request of the special State Insurance Comfnis
sion. They had appraised it at $50 0U as against
the $3U0,0OO valuation. at which 1t passed into the
company's possess.on by the transfer from T..
Matthews to Furbcr, financial manager. Upon
this reduced appraisal the report of the special
mission was largely based. and the evidence Of the
appraisers OF much Importance to the State in
proving. means Of conspiracy to defraud the
policy holders. the generalization OF assets. The
state Attorney informed the Court that Messrs. Tay
lor and Fcrnad had agreed to to Hartford when
wanted but they had failed TO respond to his request
for them be present this week. Therefore he would
ask a continuance TO next week, when he would put
for the prosecution.
OPENING OF THE DEFENCE
The defence entered earnest protest against any
delay and when, in reply to an inquiry, the state
the witnesses would at all and could not be COM
PEELED to- of course, Judge Hovey remarked that
while he disliked to cut OF material testimony vet
il unjust to every body to postpone on such an
uncertainty admitted. In concluding his re-
marks he directed that the testimony for the defence
be proceeded with.
Tho defence without any delay opened their testi-
mony with that of samuel Colt. OF Hartford, presi
dent of the New River Car Company, which had
opened up and improved the West Virginia mining
lands, now owned by the Charter Oak. His evidence
by the prosecution and he gave q full state
mcnt of the large sums which had been
expended in purchasing land. erecting buildings
aud developing the mines of coal and iron.
He specified the buildings and improvements, and
estimated the Quinnemont property Improvements
worth about $250,OO0 The coal mines which supply
the furnaces have productive capacity Of 100 tons
daily and the furnaces reduce fifty tons uf ore
daily He believed that the whole property now held
by the company in West Virginia Is worth &5O0,0Ou
The Court adjourned to two O'Clock Monday.