The New York herald., 1878-12-18
THE CHARTER OAK TRIAL.
REAL VALUE OF LARGE ASSETS REPORTED
UNDER THE MANAGEMENT OF THE ACCUSED.

REAL VALUE OF LARGE ASSETS REPORTED
UNDER THE MANAGEMENT OF THE ACCUSED.
Hartford. Conn, Dec. II. 1873
The proceedings in the Charter Oak conspiracy
case to-day limited to hearing testimony to
the real valuc of certain asset reported by the
spirators in the annual statement of the Charter Oak
December 81. 1876, at s219,ooo. II appears that in
1873 the Connecticut Valley Railroad owed tho in
surance company $4,000. secured by checks and
other colaterals and the insurance company wished
to transfer the matter to their bond and mortgage
account. Hence the railroad company executed
and gave to the company mortgages its various
properties the line of tho road and named
sideratons aggregate Of $4,000. ctthese mort
cages were regarded security only for $4,000.
and at this figure Furber took them from the company
in December, 1876. account of assets contributed
under his contract aud in the following March trans
ferred them back TO the company at the figure
few weeks ago tho properties covered by the mort
cages in the course Of suit against tho Valley road
upon the stand the appraisers to testify to the value
m prasais was saa,ooo against the $4,000 at which
compsnys assets or the s4g7 900 reported as the a-
grcgate Of the mortgage considerations by tho rail
road company Tho testimony of the witnesses
twenty or more) merely went 20 show how the 1p-
praisas made. the cross-cxaminations develop
ing the fact that the lands appraised their
road purposes.
COMPARATIVE COST AND VALUE.
As to the alleged over valuation OF the company's
building In this city, which the accused had reported
as an asset worth its cost $s44 $50 Henry X. Morgan,
OF Hartford testified that no had appraised IL only
S6OD,000, rents taken into consideratioA. This is
nearly quarter Of million lcss than the accused
reported 10 cost in tho annual statement of tho
pany Decembcr 81 1876.
When the prosecution sought to show the value Of
Fcnwck hotel property at Saybrook Point and other
pieces tho defence raised objection that such cvi
deDce inadmissablc. The ground that the
accused, while reporting tho mortgages representing
these properties at their face value, had
ported their actual worth in annual statement.
Therefore there attempt to set ont That each
gucd that IL be strange law OF evidence that
would exclude in tho of misrcprcsentrd assets
by mn insurance company, testimony that the mort
cages were nearly worthless. The Court ruled that
the prosecution must stand by ts allegations and
any testimony of this kind to the insolvency of
the company not misrepresentation by the accused
vALUEIEss SECURITIES.
Colonel Bsscll, banker, testified that the 81 80 900
OF second mortgage bonds of tho Connecticut Valley
Railroad bought by the company for $947 O00 which
on account of the purchase OF the broadway prop
erty, had market value at that time. laugh was
created by the remark of counsel for the defence that
IL the prosecution wanted to 90 and show that
Furber had got FOR nothing orthe company
out Of Matthews in this trade the accused perfectly
ney rejoined that he was endeavorng 10 show tho
fraudulent nature of many of the transactions the
accused by showing that they had dealt not with real
values. but often with greatly deprecated values and
sometimes with mere caphers. Ihe testimony Of the
day closed with statement that tho Higganum Man
ufscturing Company's property, carried in the
pany's asscts st S24g0v, worth only $4,000.
Adjourned to tomorrow.