The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-12-11
THE CHARTER OAK TRIAL.
EXAMINATION OF SECRETARY sTEvENs-INQUI-
RIEs INTO THE FINANCIAL OPERATIONS OF THE
COMPANY, Salaries &C.

EXAMINATION OF SECRETARY sTEyENS-INQUI-
RIEs INTO THE FINANCIAL OPERATIONS OF THE
COMPANY, Salaries &C.
HARTFORD, Conn, Dec. q, 1873
The Charter Oak conspiracy trial resumed in
the Superior Court this morning. Halsey Stevens,
secretary Of the company continued his testimony.
and related the taking of stock by various parties in
the fall of 1875 aud it's subsequent transfer to Furber
Wiggin and White. The prosecution then
sought to introduce in evidence the mort
cages of the New Saybrook and Higganum
companies, two disastrous investments made
prior to the Furber management but they ruled
out, together with several deeds relating proper
ties included in the companys assets. When ques-
toned to loan of $1s2.45s to Allen. Stephens Il
Co., and the 100000 mortgage to Edward Matthews.
of New York, on the Broadway downtown" pur-
chase witness stated his inability produce the pa
pers. they. with many others. being in the hands Of
the companys legal representative in Chicago At
this point the interrupted the prosecuting at
torney with the significant suggestion that if he
had anything in the nature of evidence to produce
would De We 70 40 So ,h.. h o a tins state
posed that the defence would object to the records
and therefore he had not thought it ary to
the originals The State then closed the direct
examination of the witness, and the defence declined
to cross examine him.
A REPORT RULED OUT.
Edmund A. Stevens, Assistant Commissioner of the
Insurance Department, was called, and asked for
the annual statement of the condition OF the Charter
Oak Company on the 3lst OF December. 1875 which,
the State alleges wholly false and made with the
intent of deceiving the Commissioner. The report
proved to be signed only by cxPresdent Wggin, and
the defence raised the point that it not admissible
in evidence because it signed by only OF the
alleged conspirators The Court sustained this
point and remarked that there must be evidence Of q
conspiracy between the parties before the declaration
of any one of the accused can be admitted in evil
dence.
MIR. FURBERs CONTRACT ON RETIRING.
At the opening Of the afternoon session the prose-
cuton met another serious mishap in the refusal of
the Court to admit i'll evidence the contract under
which Furber retired from his connection with tho
company when it came into the hands of the Jewell
management. The defence objected to this the
ground that the contract was made after the
alleged conspirators had left the company and
that 1t was signed by only one Of them, Furber. The
prosecution claimed that the terms Of the contract
mad been fully agreed upon while all were in office.
but the Court remarked that this had nothing to do
with the date of the execution of the contract ITSELF
and he must rule the document inadmissible.
PAT SALARIES.
Tho question of alleged exorbitant salaries was
then gone into, and Secretary Stevens, being
called showed that Furber. as financial manager re-
ccived $G66 81 per month from May 1877, to July,
1877, and 1900 for july White, vice president and
treasurer, aud Wiggin. president received 81 900
monthly during the year. Waeklcy lex president),
received as consulting counsel $625 per month from
May 1876 February 1877 and regularly after that
1888 SO per month. Prior to the dates named the
records Of salaries paid were not produced.
ovERsTATKMENr ASSETS.
The prosecution next called Charles Z. Dustin,
casher of the company. who produced certain deeds
Of real estate in New York. These and others were
introduced merely for the purpose Of showing the
value OF the aasets in 1875 and 1885, when the annual
statements made the object being to show that
the assets were overstated This witness was kept on
the stand until the adjournment the testimony be-
ing solely to operations of no general importance