Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-15
STOCK BROKERS' SECRETS.

Evidence Brought Out at the Hearing o.
the Conspiracy Case of M, x. McMulleI
Versus ], N. Richards and #. r. Merri
man-Alderman Mcalasters Reserve.
His Decision.
The hearing in the conspiracy case before
Alderman McMasters, which involves the
integrity of prominent stock broker, I. N
Richards, and well-known telegrapher
Frank R. Merriman. came up yesterday
afternoon. The hearing was over two hour!
long, and during all this time the Alder
mans Office was crowded with oil and stock
brokers.
NJ. K. McMullen, the prosecutor, was the
first witness called for the Commonwealth.
He testified that Merriman had been in his
employ for over four years as telegrapher
at salary of S25 per week. As to the
while in his employ, he had no
personal knowledge. On ncross-examination
he said he had discharged Merriman about
three weeks ago, when he first heard of his
alleged wrong doing.
In answer to question as to who belonged
to the keystone Provision, Stock and Ex-
change Company, he said he was the only
member. He could not fix a date upon
which the alleged fraud, conspiracy or any
part of it was committed, but thought the
first six months of the year 1890 was about
the time.
Attorney William Reardon, who repre-
sented Merriman, inquired whether the
Keystone Provision, Stock and Exchange
Company was still alive, and also wanted to
know if it was chartered. Mr.. McMullen
said the company could be revived at any
time.
Robert McChesney, who was for some
time and until very recently Richard s
telegrapher, was the next witness. He said
he knew both defendants and sent messages
from Richards to Merriman touching Nc
Mullen's business. Attorney Marion then
asked what were the messages?
The witness replied, orders to buy or sell
stock in connection with McMullen's busi-
ness.
"Do you know whether at any time these
messages were false?"
sI only know that some were not received
in the usual way"
Here the witness gave practical illustra-
tions by which he showed the legitimate
mode of transacting the business He first
sent one message ordering McMullen to buy
stock and in answer to this he would re-
ceive q message saying the stock was
bought, all these messages he said were
filed for Mr.. Richards and in few hours or
days, as the case would happen, Richards
would order him to send message telling
McMullen to sell the stock and in reply to
this would get an answer saying that it had
been sold.
AS to the messages sent in a usual way,
McChesney said at times stocks would rise
and fall in a very few minutes. He noticed
that on occasions like this Merriman would
send message stating that certain stocks
had been bought, sold and the deal closed.
In instances of this kind he said McMullen
would invariably be loser, and if Rich
ards and Merriman were working the thing
together they would profit.
This concluded the important testimony
in the case, and Attorney Brown asked for
discharge of the defendants because the
evidence was not positive, and he stated that
there was no intent to deliver the goods,
and tor this reason the case would not hold
good in court.
Attorney Marron discussed the case from
beginning to end and argued that the AL
derman had no jurisdiction as to deciding
whether the business was legal or illegal.
Alderman McMasters reserved his de-
cision until next Tuesday.