The New York herald., 1879-01-01
CHARTER OAK CONSPIRACY.
CLOSE OF THE TEsTIMoNY-NoTHING OFFERED
IN REBUTTAL-CoUSsEL ARGUMENTS COM
MENCED

CLOSE OF THE TEsTIMoNY-NoTHING OFFERED
IN REBUTTAL-coUSsEL ARGUMENTS COM,
MENCED.
BY TELEGRAPH TO THE HERALD
HARTFORD. Dec. 81. 1873.
In the Charter Oak conspiracy case this morning
State Insurance Commissioner Stedman recalled
and his eross-examination continued. He said that
he was not certain that he had been told what amount
Furper ana his associates to pay for the stock
when they purchased the controlling interest in 1875
it was matter that did not concern him. witness in
formed them, however. that payment of dividends on
the stock would not be approved by him until the
company was in sound condition. On redirect cx-
animation witness explained that when he tod Fur
Der that the capital stock impaired to the extent
OF s5OOOOo he did not mean that the company could
not meet its obligations. but instead that there was
technical impairment of that amount on four per
cent basis. Both the defence and the State here
rested thef case somewhat to the surprise every
body as it had been understood that the State had
some important evidence to offer in rebuttal.
THE ARGUMENTS.
The arguments were then begun. the agreement be-
ing that State Attorney Hamersly and Messrs. Buck
and Foster should speak for the State aud Messrs.
Perkins Sweet and Hyde for the defence, the latter
to make the closing address to the jury. Mr.. John
r. Buck opened for the State, and. after defining
conspiracy, proceeded to enumerate the unlawful
means which the accused had adopted to get pos
session of the company and its assets. Az to the
first count. alleging such means. Mr. Buck
said that while everything done under the form
of law it was not according to the substance.
Turning to the second count which alleges that the
accused conspired to deceive the policy holders Mr.
Buck claimed that they did it by falsely repre-.
sentng that they held assets sufficient to the
policies; that Furber fraudulently secured $4,000
from the conpany's treasury under his contract;
that Furber manipulated the stock of the
company as to secure . controlling in.
terest and that it was paid for out Of tho
companys money. He gave word of praise to
Secretary Stevens for his critical examination Of the
Furber contract before he would consent to give it
his signature criticized the valuations of the West
Virginia coal ana iron lands by the appraisers pro-
duced by the accused as rdiculously high. and said
that all the showing made by them of strengthening
out the companys affairs was merely with the object
Of getting the into condition to nspec
ton by the State Insurance Department SO
that they could better continue their plans
Tho overyaluatons of assets also part OF this
plan. and while making pretence Of getting exact
values, Furber was careful never to place deIFe-
ciated value in his schedule, even if he knew yhs
property was worth less.
sTRoNa DENUNCIATION FRAUD.
Commenting on the claim by Furbcr in his coh-
tract that he must have extra compensation for
risk incurred in contributing the $5OOOO0 in
the way in which it was added to the assets.
been inserted with evil intent the ground that
Furber could have got his money back in any
court Of justice the company had passed into
the hands Of receiver and the premium receptlfno
longer existed a source from which to reiinbupse
himself. The contracts of Wiggin White for bay
ment of commissions in addition to their salaries were
denounced bare frauds, and they, with Furber.
would have been entitled in five years to drsw.Aas
commissions the enormous sum Of 81, 81, ,454. The
provision that the company might cancel the con-
tracts under certain conditions amounted to nothing
because the company was really composed Of Furber
and NJ AaaO W
Again. referring to the New York real estate matters
Mr.. Buck said that the $50O,000 mortgage which
Furber contributed appeared to be something Of tho
nature Of a mere accommodation by Matthews. The
affair thus stood for year, and then the company
bought the property. Furber decided it to the COM
pany, but before he did SO he required release to
him OF the $S000O0 mortgage which covered tho
$5OO,000 one thereby he got back the contribution
No had made. In conclusion. Mr.. Buck claimed that
evidence presented by the State ought be regarded
by the jury fully proving the allegations again
all Of the conspirators except Mr.. Wslkley.
Owing to the illness Of Judge Foster, one Of ~
counsel for the State the court at the conclusok p
Mr.. Bucks argument. adjourned until Thurs ty
morning. 49,.