The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-12-24
CHARTER OAK CONSPIRACY.
CONCESSION TO THE STATE BY THE DEFEND
ANTs-sT. LOUIS, CHICAGO, WEST VIRGINIA
AND OTHER PROPERTIES VALUED.

A CONCESSION TO THE STATE BY THE DEFEND
ANTs-sT. LOUIS, CHICAGO, WEST VIRGINIA
AND OTHER PROPERTIES VALUED.
[DY TELEGRAPH TO THE HERALD
HARTFORD, Conn. Dec. 49, 1878.
In the Charter Oak Insurance trial this after
noon the most important and quite unexpected
feature concession made by the de-
fence to the prosecution. When the State
finished its testimony in chief last Friday, it de-
sired to put on the stand two witnesses who had APP
praised the New York downtown property for the State
Special Insurance Commission. Messrs. Taylor and
Fernald of New York city. However. having other
witnesses to CALL and being unable to produce the
gentlemen named the Court refused to grant an adj
journment to Monday. asked by the STATE and
directed that the defence proceed with their testi
mony. Upon the opening OF the court to-day one of
the counsel for the defence made n proposition
to the Court that the State be permitted
to reopen its to secure the
testimony OF the necessary witnesses and suggested
Thursday next as the day. In concluding his re-
marks counsel explained that the defence did not
want to stand before the public in the light Of having
taken an advantage of the State by which evil
dence regarded very important had been excluded.
The Judge remarked that he would have granted
the request of the State last week for an adjournment
to to-day if he had known the defence was not pre-
pared to continue on Saturday. This explanation
will serve to set ut rest all anxiety concerning
Judge Hoveys somewhat summary action last
week which resulted in the exclusion of the evidence
referred to. Finally, the matter settled to-day
by the acceptance by the state Of the offer made by
the defence, suggestion by the State attorney that
the State ought to be given till Friday instead of
Thursday being courteousy but firmly declined by
the defence in remark that if the State could not
produce the necessary witnesses by Thursday the
chances unfayorable to securing their attendance
ut all.
VALUE OF CHARTER OAK PROPERTY
General J. S. Fullerton, of ST. Louis. attorney and
real estate dealer testified for the defence that the
Charter Oak St Louis property worth $3.50 600
instead OF the $1s5000 estimate placed upon it by the
appraiser who testified for the State last week
The State then resumed pssl, the cross,examina-
River Car Company, regarding the value Of
Quinnemont Iron Works and other property
car company to the Charter Oak first in 1873, and
in 1876 u new mortgage was executed under the Fur
Der management to perfect titles and make the Sc
deed the iron works and 500 of
coal lands were included in the deed.
own either Of the two properties and had no right to
transfer them but secured them later. Without say
ing anything to the Charter Oak people the COM
pany realized 800 900 on bonds based mortgage
of the iron works. And when the second deed was
made Furber Theron works and the coal lands
properly covered in, and the Charter Oak agreed
takcscare of the bonds.
Judge Van H. Higgins. the Charter Oaks repre-
sentative at Chicago on real estate matters inter
rogatcd at great length to the values Of the
properties the aggregate being about $3s5, 900, or
better than the appraisal made by the parties
who appraised them under the direction Of the State
special insurance commission at the time OF the in
vestgation in 1877.
Edmund A. Stcdman, Actuary of the State In
surance Department, testified to making examine
ton of the premium note account at the request OF
the Furber management Furber believing that the
real condition of this asset overestimaed 1t so
proved to be to the extent Of $600.OOO The examna
ton not completed at the time Of the making of
the 1876 annual statement. and the figures put in by
the accused were estimate by Furber after APP
proysl by witness the estimate being based upon the
condition Of the account far examined prior to
this Furber had opened new set of books with the
the past
Adjourned to Tuesday.