The New York Herald Newspaper, March 21, 1874, Page 8

THE COURTS. THE OCEAN BANK-CALLENDER CASE. Spicy Tilt Bétween Bench and Bar. YHPORTANT QUESTION BEFORE THE COURTS Police Justices’ Election Versus Appointment. The November Election Investigation— My. Charlick Required to Ver- ify His Testimony. - BUSINESS IN THE OTHER COURTS. decrees Does Not Relish Twenty Yoars in State Prison— Two Suits Cannct Be Brought for the ‘ame Cause of Action—Action for False Imprisonment—Proceedings in the General Sess ons. Yesterday, in the United States District Courts Jadge Blatepford rendered his decision tn the case | of William J, Holmes and others vs, The Steam, | Doat Ivanhoe and the schooner Martha M. Heath; and Sawuel Carman and otvers vs. The Steamboat Iwanhoe. The ibdels in this case grew out of a col, Usion tn the East River, on the 13th of February, 1873, about ten o’ciock A.M, The Judge dismisses ‘the libei in the first case as to the Heata, with costs, and in each of the other cases orders a de- cree against the Ivanhoe, with costs, with a rejer- ence to ascertain the aamages to be recovered by | ‘the libelants, THE OCEAN BANK CASE. Trial of Callender Continued. The trial of Charies Callender, who is indicted | for having accepted a biibe of $76,000 under the | cirenmstances already fully reperted in the HERALD irom day to day during the past week, | ‘was resumed yesterday in the United States Cir. | euit Court before Judge Benedict, at the court | room, 27 Chambers street, Mr. A. A. Purdy, United States Assistant District | Attorney, conducted the prosecution, and Mr. | William Fulierton appeared as counsel for the de- | fendant, t TESTIMONY OF C. W. BALDWIN. | ©. W. Baldwin, who testified that he nad been an | oMicer of the Atiantic National Bank, which failed April 26, 1873, said he had before him a cashier's | eheck on which Mr. Callender got money from the | bank; he had the special loan check with Mr. Cal- | Jender’s indorsement upon it, aud the demand | mote that was made tor $2,0 he bought these | papers from the hands of the receiver of the bank; the papers had been in witness’ possession as clerk to the receiver, (The papers were produced anda offered in evidence by the Wlctrict Attorney. Among these papers wus a check lor $2,900 on Lie Atlantic National Bank, indorsed by Caiender, and dated November 10, 1870.) Had not sceu Cul lender wiite, but veheves the miorse:nent to be in his handwriting; did pot see waat collatera Were given tor tne Joan; ‘he demand note was for $2,000; knows that he (witnes-) made the enemies about these matiers Mm the books; as to ine other trausactivns of Cailender wiin tue bank, | he did not remember anything avout them, except from the vooks. A question as to whether the ‘witness knew the indebteduess ot Mr, Calender to-day lo the Atlantic National Bank was oojected to by Mr. Fuilerton. The question was,put in an- | other form, and tue witness said he knew of his own knowleuge that Ualiender Was inuebtea to that bank; ne knew this in two or three ways— ret, by the papers, and aiso from the tact that Callender nad been to the receiver to see about the debt, ana had been sued lor it; does uot re- member that Mr. Callender hud said anything about the dept; the papers wich he had pro- | duced came trom the bunk as assets of the bank; there were noves of $5,000 each, made by Alfred Wiid and imdorsed by P. J. Avery, W. L. Avery and J. E. Conant, and a note for $1,500 at sixty days, and 10° these $25,000 of Portage Lake and Lake Su:erior bonds had’ been given as collaterals; witness had not got those collaterals; Knows that a suit has been commenced against Calender for his indebtedness to the At- Jautic Bank; served the summous on Calender the Other day. id Q. Do you reccoliect the amoant? Obdjected to. dudge Benedict—Produce the summons. Have you got a copy of tue summons? A, No. os%8-exXaminei—I Cannot say who leit the $25,000 of Portage Lake bonds as security for these | loans; I did not know what was leit at the time; I Knew that bonds were jeit as security; those bonds Were amoug the }apers of the bauk a8 collaterals; Idid not see Mr, Callender leave any collaterals; Know now that certain Stated to be collaterals lor those loans; they were With the coilaerais ior these loans, aud, taat being s0, linferred that they were collaterals for those Botes; [have been toid that they Were coliaterais; found them among the assets of the bank after the bank had taued;! am pretty certain in my own mind tnat they were the cola erals for Callender’s Notes; wat is all | Know about the collaterals; Dank igiied on the 2th of April, 1873; Mr. Meigs Was then bank examiner; the bank went into the hands oi a receiver ior liquidation; I was in the bank as general bookkeeper ana discount clerk: ene s camber of joans liad been made by that nk as collateral: $50,000 was loaned on co. lateral about that time; all those loans have not been paid. Q. Were any of the collaterals missing at the time the bank iailed? A. Yes; taey have not been found yet; the bank was exawined in Feoruary, 1873, anu it failed in April, 1873; 1 do not know if ‘Mere Was any paper under provest; these loans were femand loans; they bad been running at diserent times, ior iour or five years; some of tuem had been of long stauding; J served this summons on Mr. Callender at the request of Mr. Jono L. Cad- | ‘Wallader, counsel for the recciver o1 the bank; the summons Was served the day betore yesterday had it some few days in my pocket, as I dia not happen to see Mr. Calicuder; the paper produced is the summons. Mr. Fullerton said that he would, at the proper things Im the bank are time, oifer tus summons mevidence. At the re- quest o! Mr. Purdy, Mr. Fallerton handed the paper to the former, who, after examming it, said ne Would pat ii in as evidence for the prosecution, Mr. Fulierton said Mr, Purdy sould not do any- thing of the Kind; he could not get the paper in by @ trick of tua: kind. He (Mr. Fulierton) would Offer the payer, at the right Lime, im an orderly aud proper manner. TESTIMONY OF MR. JAMES EB. SOUTHWoRTH. { Mr. James E. Southworti testified :—I was Presi- dent of the Atlantic National Bank at the time of its failure ; 1 Know Charles Callender: I made joans to him; I made one loan of $2,000 November 19, 1870: | discounted a note for $5,000 endorsed by Callender; | taink | may say that there were two Dotes Of $5,000 each—$i0,00v—diseounted for L it Was a loan made at bis request; it was a reguiy discount; { think I discounted several otner pleces of paper for him at ciferent times, q At the ime Of the failure of the vank do you know whether these joans—discounts—nad been paid? A. Yes, one of these $5 8 has been paid; the other notes that 1 a jor him have been paid, except $5,500; they have been ail Paid except the $2,000 call jo: the $5,000 note and the $1,500; there were no c« ral securities for the $6,000 and $1,500 notes; they were dis- counted without collaterals; they were not paid When they became due; [ went tO see Mr. Allied Wild, we maker of the notes, two or three times, and spoke to him: also saw Mr. Callender, Gnd pressed him for payment; he icll back on tne Maker and endorsers of the notes, saying that they would make an arrangement to take them up very soon; L went alier them lor a Week or so; aa Tcouid not get the money irom the maker or en- dorser Lxpoke to Mr. Callen $25,000 of bonds of the Portage perior Canal. (Bond produced.) This is one of the same kind of bonds that he gave me; one of those bonds wus uiide on the Workman's Sunday Behool Stock; the Atlantic National Bank jailed April 26, 18 » Is it not a fact that Mr. Taintor, rhe hier of that bank, was in the habitot taking the mouey of that bank and speculating with it in Wall pt? A. Not to my Kuowledge—not a dollar, @ When did Taintor first begin to take this Money Out of the bank? A, (donot know; I caa- not say how much jegai tenders the bank had on hand when making this loan to Caliencer. Did you ever receive ‘rom the Comptroller of ‘the Currency @ letter marked “private and con- tidential,” asking you to make good or strengthen some of the securities in the bank? A, I got such a letter, but Ido not Know that tt was private, nor do 1know that it was opened by any one but my- self; if it was marked private it was not likely to be opened by any one but myself: | cannot say where that letter is; I cannot say whetuer Mr. ‘Vaintor did or did not know of those louns; I sup- pose he knew alterwards by seeing the discounted rs in the bank. Pine witness was cross-examined at some length Mr, Fullerton, and he stated that before he the Lake bonds from Mr. Callender @eatto the Union Trust Company to see if | his oftice 18 only a city ove. NEW YORK HERALD, SATURDAY, MARCH 21, 1874:—TRIPLE SHEET. back of those bonds ries of wil had; he made inquiries as to the value of the bonds irom the Presi- dent of the Trust Com) » irom whom he got nothing very definite as to the marketable or intrinsic value of the bonds, The President of the Crust Company told him that be nad the murt- gage, covering several aunareds or thousands of acres OF Hiuber aod mining lands im Micuigan; that the litles were all good und periect peiore tuey issued Che bonds, 80 that he (witness) might rest assured they had good ule; and, jyrtuermere, that they Rever became trustee tor any party. A LIVELY SCENB IN COURT. At this stage of the proceecings Mr. Purdy, in & somewhat excited manuer, exclaimed, “1 dv Bot care for the GAKBULOUS STATEMENTS OF OLD FPROTHINGHAM,” Judge Benedict (pan earuest tone of voice)— One moment. I must not allow this to go on, You Bou het speak of gentiemen in this Way, Your zeal carries you away. | must reprimand you, jor 1 do not tmuk 1f 18 good taste to Use such languace and it is not proper, 1 yield something to your arnestness in this case, but | must again say thut you do not gain anytuing by using suck epithets to Kentlemen Witnesses. Mr. Purdy—I do not know that Mr, Frothingham isin court. Yesterday | heard counsel on tue otuer side insult a witmess iu a very decided man- her, anc counsel Was Dot reprimanded, Judve Benediet—Whether I did my duty yester- day is notthe question, I can appreciate your position, but must again repeat that you ought not to indulge ia epiluers Of tuls Kind, They can | dono good. Aiter tpis episode the witness went on to state that he wad imquired of Mr, Frothiugham, the President of the Union Trust company, i the gcnuemen who acted as representatives ol tue Portage Lake and Lake Super.or Company had been recommended to hitu as persons 01 mtexrity 5 he said one of the gentiemen was a United states bank exaininer, and spoke of Avery, Wild and Conant; had heard at the time o: Mr. Wild and his circumstances; heard that he was & man of large responsibility; that was his reputation on the streetin N-w_ York; witness thought the bonds would be worth as much 4s che joan ; $25,000 of the bonds were leit with niin as security for $5,500; does not thiuk that he cau vet at the time that these bonds were leit with bim; there may be sometoing in the books of the bank to show it; 18 posure: that wien he discountea the paper the bonds were not left with him; hid been told that he could get ten cents on tne doilar ior the bonds or that they Were worth so Inuch; think it was Mr. Davis, the receiver oi the Ocean Bank, who told him that; caut say when that was; can’t say it Was a direct offer; refused the offer. ‘To Mr. Purd, ade loaus to Caliender before that was paid; they were business paver; the loans at any one lume did not exceed $10,000; When dis | counting the paper made inquiries and’ heard that | Callender was reputed to be a man ot | bility; bad not ioaned betore on responsi- Portage Lake bonds; those bonds had not a marketaole Value on the Stock Exchange; aves not think he weuld bave loaned a dollar to any person On those securities but Callender, TESTIMONY OF JOHN S. HARTSHORN AND OTHERS. Joun 8, Hartshorn tes‘tfied at some length in re- rd to Caliender’s baving oVerdraits at the Ocean National Bank. Aiter some additional testimony on the part of the prosecution by Mr, Joha M. Crane, of tie Shoe | and jeather Bank, and Mr. Henry Beekman, late President of the Union Square Bank, Mr, W. A. Taompson, President oj the Merchants’ Exchange Bank, testified that in the later vart of | 1s7o or 1871 he refused to lend money to Callender op the security oi the Portage Lake bonds; he did | not consider tue bouds marketable, ‘Vhe vurther hearing of the case was adjourned untli Monday muruing at eleven o’ciock. HAS NEW YORK A COURT OF SPECIAL SESSIONS? ———- Important Question as to the Constitu- tionality of the Court—A Claim that the Judges Can Only be Elected and that Their Appointment by the Mayor is Wegal. Early last month George Coyle was arrested on a charge of assauiting @ young lady, taken betore the Court of Special Sessions, tried, convicted and sentenced to the Pentteutiary for six montns, His counsel, Mr, William F. Howe, objected to the yaris- diction of the Court, claiming that it was Lota legally constituted one, obtained a writ of certulerari from Jadge Barrett, at Supreme Court, Uhambers, aud thence carried | the case to the Supreme Court, General Term, Where it Was argued ut iength yesterday, Judges brady, Danieis and Westorovk Leng on the benct. ‘fhe first point raised by Mr. Howe. was tbat the act of May, 1574, enitied “An act to secure vetter adimipis\ration in the police courts o! tne city of New iors,” and under which the present police Justices were appointed by the Mayor and Aider- Wen, 18 unconstitutional, because It takes trom the peopie the power to eject the police justices and coniers the power of uppoiitmeut ob tue Mayor and Aldermen. It was aiso cluimed that if the po- lice justices be justices of tue peace within the coustiiutionai provision, then the act is uuconsti- tutionsl, Masmuch as that the term of those in | oftice, Wnen the amended judiciary article took effect, 18 destroyed beiore its expiraticn, which 1s a violation of the Constitution. He insisted fur- ther, that when the amended judiciary articie took elfect, courts of Special Sessioas were held by elected po)ce justices; that thesé courts were not inierior jocal courts, and that the judges author- ized to hold such ‘courts cannot be appointed Another poiat was that the Court of Special Ses. sions of the Peace is @ county court, that it nas | jurisaiction over all Misvemauors committed | Wit.in the county o) New York, thot it has a clerk and A seal, that being a county court tie justices | authorized to hold it are county officers, and that they cannot be appointed by tie Mayor, because Being a County court | the special Sessivns, it was urged in ad- | dition, 18 continued, and jis judges, when | the amended article tovk elfect, were to hod until the ex;lration of the term tor which they nad been elected. atgreat length was th 1874 be Unconstitutional for the 1easons previously assigned or not, the justices appuinted by tne Mayor have no'power 10 hola & Court of Special Sessions. After snowing, in couciusion, the illegality of the ute (o tae act, he insisted that che conviction must be reveised. Assistant District Attorney Lyon, In his ergu- Ment in reply, raised uve pomts. The first point ‘Wus, that the petition was irregular aad ueective, through not being verified by the petitioner, A point dwelt upon and that the writ of certiorari was, therefore, improperly granted, und should be dism d. fhe seeond point was, that tne present police justices being de facto public oftic- ers, a8 such thei acts suould uot be called in question in a proceeuing of this Kind, Another pont Was that it is Nou Che office of a writ of cer- uorari to a Court of special Sessions to inguire | into questions 61 constitutionality of laws or title to office. He insisted jurther that the proper pro- ¢ was in the nature of & quo noing point was thatil the constitutionsity of the appointment of the magis- traves may be lewed in this proceeding, it is difficult 16 see why every person charged with crime should pot be entitled to quest.on upon me trial the regularity of the election or appolatment of every oiicer of the court belore which he is brought to answer, and that each prisoner, 01 the tuousaods annuaily brought be- Tore our courts, would be eatiied to tie same right, and thereby iuvolve the administration of Justice in endless Copiusion, Alter hearing the argument the Court took the papers, reserving its decision, Meantime it had been sucgested vy Mr, Lyon that all crimina cases on the calendar should be postponed, hui Judge Brady insisced that this particular case Was of too great pupiic interest and involved tog important legal points to admit of postponement ceeding in tuis wariauto, Hs THE CHARLICK INVESTIGATION. Mr. Charlick Mast Sign His Deposition or Take the Chance of Being Punished for Contempt of Court—Additional Tes- timony. There is not the same Interest shown there was in the earlier stages of the examination into the charges preierred against Police Commissioner Charlick of certain alleged Irregularities im con- nection with the last November election. Quite a thinning ont was apparent in the attendance yes- terday, and, as on che last two or three occasions, neither Mr. Charlick nor his counsel, A. Oakey Hall, put in an appearance, Before the exumina- tion of with Was resumed, however, Mr, Win- gate, counsel jor the complainants, intormed Judge Donohue that he had twice notified Mr. Charlick to appear and ewear to bis examination, but that he had not appeared or sent any excuse. Upon this statement Jndge Donohue directed counsel to make out an order to show cause why an Ment should not issue against Mr. Charhek, This Ty Matter disposed of the ¢xaiminatiou cs Was res THE ADDITIO! avcher in the Ninth Election Eighth Assembly district, for the Tammany candidates; the police put him and ail t watchers outside the ratl, and tt was itso for lita to inspect the count in the nay the evening; United States Marsal in) was intoxicated, put the inoffensive s; out of the room, ohn B. Doran, Tammany watener in the nh embly district, Was arrested on the morning 2etion by @ United States marsual and 4 at midday; we couldn't find the man ame aud address Were given to him a8 te person making the aM@davit that be had tried to induce a person to register laisely; never heard anotuer word about the charge. | | Mr, Hasbrook, Chiet Clerk of the Bureau of Eloc- tions, Was re exainined.—Was asked whether it Was true that the inspectors of the Eleventh As- sembly district were not named until October i; his ispression was that he didn’t get the ust, of | the democratic inspectors until afer that da 1 DUS be couldn’s tell what the Police Board did; To test the question he | t whether the statuie of | | he believed the Bleventt and Twenty first dis- trict inspectors were not turaished to him unul very late; alter Octover 1. James McUartmey was present in the Ninth Election district, Eighth Coy F district, as wateher jor Mr, MeCabe, candidate for Assembly; he was appoured challenger ior Mr, Croker be- sides; he Was put out jour times during the di and the mspectors said they reco med Ro st authority; «i:uess was inspector lor a week pre- vious (0 election, but was removed by Mr, Char- lies, who toid him halla dozen persons wh m he named fad sworn that be told them he bad boasted | be would carry the district for Tammany, right (or wrong; this was all faise, and he told Mr. Charlick 80, and asked wasn’t there apy way ip which he could prove these allidavits were false, and Mr. Cbarlick made ab eVasive answer and removed him half an hour after; the character ol Some ol these Tren 18 vad; some are Apuil) Hall men; he has heard that some ©, the nen Wi mde the afidavits are now in the Street Cleaning Depariment; ou the evening he Presented is credentias a8 Watcher Captain | Allaice toid an officer ty allow bit inside the raid; | alter this Captain Allaire toid tim to go outside the Tail, where he cowau’t see the count, Patrick H. Magu.re W's in the Eightn Election strict, Eighth Assembly istrict, pasting up Tam- ) Many bills Ou the LOX; wt, U’brien came up at six | o'clock; three United States marsuals followed | bim and arrested him; he heard a month previously that he Was to pe arvested; that Mr. O’Brien wus to get Wim arrested; be was charged with beng @n iMspecior ana trying to get a man to register laisey, Whereas every One in the district knew he Was Lot an inspector; he has tried Once or twice to get lis case ti und couldn’t; he was bailed out; im the evening be Was appointed watcuer; two. the O' Brie 8 aod tWo of the B gling came in | and wanted to pu: tim back; they sent word to tue stauion tuat ve Was tuere drunk, whereas ne hadn’t drank anything; they made him stand back, but ae could see tue count. Charies F. Nigiutch was watcher for Messner in | the Sixta election district, kighth Assembly dis- trict, and saw some of MeSsner’s tickets on the fe of sherman, Mow Member of Assemol, ; witness objected aud te chairman ordered the pouce to Put lium out, but they dido’t sacceed in duiny so. Charles >wan was appointed on behalf of all the Tamimaby Candidates o watch in the Fourth elec- tion district, highteenth Assembly district, aud Was kept oliside (he raus wita all the other watch- | ers; he conlun’teven see that there were ballots the inspectors told him they didn’t care avout tue | Jaw; in couniing ihe tickels taey dida’t aliow any seral » but counted them all straighc; they didu’. attempt vo look at the names at all, and dian’t take » {© count them correctly or ascer- | tam wiether there were any splits, | The myestigauon was then adjourned to the 25th inst. ‘ BUSINESS IN THE OTHER COURTS. | SUPREME COURT--GEMERAL TERM. | Does Not Relish Twenty Years in State Prison. Before Judges Brady, Daniels and Westbrook. An effort is being made to secure a new trial for | Morris Higgins, convicted recently in the Court of General Sessiuns upon an indictment for rape, and sentenced to the State Prison for twenty years, | The case was argued yesterday in this Court by | Mr. Wiltam F, Howe, the prisoner's counsel, Tie | main points raised Was tnat the prisoner had been convicted apen the sole eviaence of @ woman Wio made no disclosure o/ the alleged crime until some | time alterwards, and that Ler statement was nut confirmed vy the medical testimony, Mr. Lyon, Assistant District Attorney, Zeaiously combated these points, and then the Court took the papers. SUPREME COURT—SPECIAL TERM. Decisions. By Judge Van Brant, Porter vs. Waring.—lindings settled, SUPREME COURT=--CHAMBERS, Decisions. By Judge Dononne. Greenwich Savings bunk ys. Murray; Daken ve. Martin; Geib vs. Gell pun vs, Murphy; iaieaw- Zea Vs, Lapaugh; in the matter, &¢,, Church 0: tue Kesurrection.—Orders granted. Hovey ys. Rubber ‘lip Pencil Company; Andrews vs. Low; Bedeli vs. Taylur.—Mowions granted, | Watson vs. Dailey; bilis ve, Keyes; Cameron vs, Hain.—Motions denied, Jourdan vs. Jourday.—Decree of divorce granted. Reference. Platt vs. Platt.—Granted. | Mouut vs, Fowler.—keierence, By Judge Lawrence, Congregation Keneseth Israel, &c., v8. Congre- gation Keneseth Israel.—oraered, SUPERIOR COURT—C'RCUIT—PART 2. Cannot Erinxg Two Suits for the 8 Cause of Action. Before Justice Freedman, Luippold vs. Overmacht.—The plaintiff, a former copartner of defendant, caused the deiendant’s arrest, and cluimed that the dejendant made false Tepresentationus to him, thereby inducing piaintul to enter into copartnership with him and defraud- ing him out of $1,760. He brought suit to recover damages, The deience was, that belure tne com- mencement of tis action the plaintiff recovered judgment against de:endant in the Court of Com- | Non Pleas jor the identical cause of action, and that this was a bar to this action. The Court so | held, and the jury rendered a verdict tor the de- fendant, | _ George Carpenter for plaintiff’; L. Rindskopf | detendaut. SUPREME COUAT—SPECIAL TERM. Decisions. By Judge Curtis, | _ Birck vs. Birck.—Reierence ordered to take proois, &e. i} Gregg vs. Howe et al.—Case settled, By Judge Van Vorst. Boehm et al. vs. Sturge.—Urder settled and | signed. | COURT OF common PLEAS—SPECIAL TERR. | Decisions. | By Judge Larremore. Pfeister vs. Sevmid jotion denied, | | Memorandum in Lang cuse.) ) Lang vs. Same.—Motion denied. (See memoran- jum.) Sioan vs. Moody.—Application granted, | Schustdt vs. Schmidt.—Divorce refused; affidavit | of service de:ecrive. | Adler vs. Adier.. of service detectiv | The People ex r cation for mandamu Weig vs. Schwar: bat derendant may | ments, MARINE COUIT—PART 2. for (See Application denied; sfiidavit |. Stewart vs. Pinckney.—Appll- denied, (See memorandum.) Motion denied as to costs, e allowed his actual disburse- | dt | Action for False Imprisonment. | Before Judge McAdam. O'Connell vs. Ahearn.—Piaintit alleges that in | April, 1872, having lost a wager of a bottle of wine made with defendant on tue result of a horse race, | they met in a saloon in Canal street and drank | the wine, aiter which they went toa liquor store in Pike street and commenced throwing dice, hirst for champagne wine and then for money, They continued to play untll nine o’cl.ck the next morn ing, wher the défeadant having lost ail his money without expressing auy ¢issatisiaction, went out and soon returned with two policemen, and | accnsed piainut of having. ste i | Plainni® was arrested and locked up until the next day, when Was taken hefure Judge Siandiey, Deeniant ollered to withdraw | the charge if plainti! would give hun $100, which he refused to do, put fivally consented to return ail the money he had won irom him, which was ace cepted and plaimtuf was discharged, He now brings action to recover $1,000 Jor jalse imprison- | ment, The defendant testised that the cnarge he made against the plaintiff of stealing his money was true, @nd his testimony was corrodurated by that of two other witnesses who were present. | The jury rendered @ verdict for piamtit tor six cents damages. COURT OF GEHERAL SESSIONS, Arraignment of McKay, the Alleged Fraudulent Stock Operator, Before Judge Sutheriona, Shortly atter the opening of the Court yesterday Zdward, D, ©. McKay, who was indicted by the Grand Jury for obtaining money by Jalse pre- tences, was arraigned and pleaded not guilty, his counsel reserving the rivit to withdraw that plea if it should be determined to put in a special plea. ‘The accused ts charged with de(rauding James O. Stephens by iaisely representing the value of the | stock of the Western Union telegraph Company at the Stock Exchange. In the alternoon Mekay was r ased (yom custody by furuishing $10,000 bull. An Assnult with Intent to Maim, Bernard Clappenburgh vieaded guilty to an aavanit with intent to maun—the charge being @ 16th of November, he kicked Nelite a the breast and abcome: No, 160 Greene The prisoner was sent to the State Prison for tae period of four yeurs, ai bard labor. Burglaries and Lareentes. Jason MeGovern pieaded guilty to an attempt at variety Im the third degree, the indictment state ing that he and a confederate broke the window of Louis Geliner'® liquor store, No, 129 Crosby street, and stole three bewes of liquo Joseph Johnson, who was charged with stealing & silver w from Oicer Parker, ot the Twenty- firsi precinct, on the 2d of March, pleaded guilty to an attelaps at petit larceny trom the person. ‘These prisoners Were cach sent to the State Prison for two years and six months, John W. Wilson, who on the 10th of March stole $48 worth of embroidery, the property of Jamray & Co., No, 350 Broadway, (rom an express wagon, Bigeded galley to an attempt at grand larceny. John Wagner was tried aud {ound guilty of steal- nis money. | Zerohle ov the 18th of November. ‘ihe jury recom- mended tiem to mercy, ‘ikon and Wagner Were each sent to the State Prison ior one yea Gcorge tiarrison pleaded guilty to an attempt at grand Lirceny, the charge betng that on tue zd of this month he stole wearing apparel valued at $100, the property of Hosea F. Wood, Charies Boyle and krederica Gamble, charged With aesauit with intent (0 kill, were convicted of assault'ng Patrick Carroll on New Year's night at No, 626 Moth street. Mr, Hummel deended tue prisouers, The ¢ prisoners were sent to the Penitentiary for one year, Three Newsboys Sent to the House of Retuge for Pocket Picking. Edward Kilpaine, a littie newsboy, was tried and convicted of stealing from the overcoat pocket of Jultas Rochell, last month, a twenty-five cent stamp, in Chatham street. Michael Heffern, another member of the craft, pleaded guilty to stealing seventy-five cents from the persen of Benjamin Sbreever on the 10th of the month, Laniel Lee, who is said to be the ieader of the gaog of young tiieve~ who iniest Printing House square, pleaded guilty to stealing filly cents trom the overcoat pocket oj AleXanver A, Grainard, nee vl the avove was sent to the House of euge. Martin Kuper pleaded guilty to an indictment charging him with stealing a quantity o} human bair, Oo the Lith inst., irom bis empioyer, Gustavus Kauchiuss, here were micdgasing circumsta) ces, which induced bis Honor to send him to the Peni- tentiary lor three moui ns. John Crey moor pleaded guilty to assaulting Mary Burns on the vith o: February with @ corton hook. He struck at her, but was prevented irom in uring her by another party interfering. He was sent to the Penitenuary ior seven months: FIFTY-SEVENTH STREET POLICE COURT. Defrauded Out of $200. Belore Justice Murray. A few days ago Frank Drought, of 119 Leonard | street, saw an advertisement as follows:— Wanted—A man with from $300 to £500 cash as col- eciors good salary and security. | Apply utsi4 Secoud avenue, corver ot 4 prty-ihird street (liquor store), i. EVANS, He applied ior the position, and having $100 cash, which he avreed to give as security tur bis honesty, be was accepted, Evans represented that he and Edwin Harley owned the st.re acd another one on First avenue, and agreed to give Drought ior the first month $16 a week and $20 thereuiter, fo @ wan Who bad been tdie as jong us he had beea the prospect thus held out to him was a dazzling one, abd, ignorant and imexperienced as he Wag, It 18 not strange that he vel a victim to these two sharpers, They gave tim a receipt for lis mone), Which both signed, but with this indorse- Meut Lrousht was wot satistied, and a man pamed |W. Aldrich, Who said he owued a whole biock of houses 10 the neigiboriood, aiso indorsed the re- ceipt. He Was then satisied; but, two days Daving = passed without his being put | to work at collecting, he became un. | easy. His suspicions were confirmed by seeing | @ similar advertisement to the Joregoing again pu lished on the ist inst, He demanded back his money, but did not get it, of course. He av- phed to Captain Guauer and Deteciive McGowan | arrested bvans aud Hurley, aud they were ar- | Yaizned be ore Judge Murray, who committed them ip delault o: 2,000 bali each, The accused Were yesterday sent to the ‘tombs and the papers sent to the District Attorney, Owners for Stolen Blankets Wanted. A boy named Michael Fenton was arrested by | Detective McGowan, of the Nineteenth precinct, on Shursday, tor stealing horse blankets. Through him a large numb ro! vaiuable blankets have veen | recovered that were undoubtedly stolen, ‘They are how at tae Mueteentn precinct station house | awaiting owners, i BROOKLYN COURTS. od The counsel for Messrs..Sanborn, Hawley and Vanderwerken had a conterence with United | States District Attorucy Tenney yesterday, in order to say Whether phey wouid be ready to go to trial | on rhe 25ch inst., for which day Judge Beuedict had ordered a special peut jury in the United States Circuit Court, A new indictment having been jound, COuusel sald that they fad been unable } to communicate with sdnborn, ut they | thought tua; ihey would hear from bim fiat day. however, and couusel, therelore, coud not say Wiether they would be able vw go to trialon the 2ichinst. Mr. Tenney said be would be ready. Coun- Bei tur the deience azreed to notily the District Attorney a8 soon as practicable Wnetner they | would be ready to proceed to trial on the day desiguated, | . The March Circuit of the Supreme Court has ad- | journed. Judge Pratt, fur the most part, has pre- sided im the Uircut since January, and, being assigned to the April Circuit, will devote tne baiauce Oj the present month to some old busi- ness. Judge Gilbert, who has recently been in Brooklyn, holding Special Term and hearing sev- erai Cucuit cases, has been ussigned to the April General Term at Kochester. CITY COURT—SPECIAL TERM. Interesting to Railroad Companies—Can the Crosstown Company “Water” Their Stock t Beiore Judge Netlson, Alderman Demas Strong, @ stockholder in the Crosstown Railroad Company, applied for an in- | Junction to restrain the Board of Directors from increasing their stock, and yesterday Judge Neil- son rendered the iollowing interesting decision in the case:— The capital stock of the company was increased from $30v,000 to $400,000 by the vote of the stuck- holders at a meeting heid on the 29th day of De- cember, 1869, The proceedings appear to have bveea lu coniormity to the statate (T. L,, 1850, p. 214, section 9%) The avowed purpos~s jor which the increase of the capitul Was made were:— | First, to meet demands which might urise under the convertible clause in bonds of the company | Which had been issued, and, second, to proviae suiticient means lor constructing aud equippin, the road. Those bonds were aiterwards retire: aud causfed out of other means O1 the Company; but on the 5th of February, 1874, the | Board of Directors, considering it neces- sary to apply the increased capital to meet expenses im constructing and equipping the road, resolved tiat 1,00) shares of the capital stock 01 the par vaiue of $100 per share should be | offered jor sale at 50 per suave, the privuege of purchasing Ure shares at that rate to be first given to stockholders, The plaintiff, a stock older in the company, eXhitits his oil on bis own beualf and ob benal! of other stockholders wio may elect to come in, &c., and seeks to restrain the issuing and sale 0: that additional stock. He ciaims that the dirce ora are proceeding to that matter with- out rigut or jegai authority; that the issuing and the Sale at that reduced rate of the additional shares w/!! lessen tue yatae of the stock held py bim ands oors, and that great damages will be suffered. Other matters going to the for- ‘mality of pleading are duly set forth ag that those Who might oring the action in tie name of the com,any reinse to do so upon request, &c.,, aud so he impleads the company and ail the dire tors. The Uneury on the part of tae complainant ts | that the capical sock o1 this company has not been Increased; that the authority given by the stock- holiers at their meeting, December 29, 1869, was merely to issue additional shar , should that be necessary to retire the bonds; tnat those bonds naving been satisiled, that authority, unused for years, stale aud inoperative, is now sought to be revived and exercised by the Board of Direc tors wrongiuily, ‘There are several objections to that theory. Tne section of our statute above cited expressly provides for the actual increase of the capital stock, not tor the mee issue Ol siures to meet a specified want or uapprebendea contingency, in this | instance the capiral, ag such, was actualy | Increased, the directors could have issued the shares for the addiilonal $100,000 immediately thereaiter, Or postponed that issue as in their judgment seemed best for the interests of the road. That statutory Increase of the capital and the con- sequent power to issue the corresponding amount of stock suffered no abatement or revocation by the lapse of time which has occurred. The case in this aspect ia strongly contrasted with the princi- ple applied by Ven, Wood ia Fisher vs. Whatley (2 H. | & M. lv), and by Redflela (Law of Railroads, voi. 1, | p. 665) to an oid resowution authorizing tne issue of | sbares for a purpose which had ceased to be avail- abie, Jt was held that au injunction will be issued to restrain such action by the directors, it not being a question of tie internal management of the company. In tois matter one of the pur- poses for which the capital was increased remains | vo be carried out with tae means arising from the | gale of the stock—to wit, the construction and | equipment of the road, 1) in the progress made in that work and in obtaining supplies debts had | heen contracted the proceeds of the stock would | have been applicable vo the payment of such debts | The resolution of the 5th of February proceeds | upon the correct principle in giving @ preference | to stockholders in proportion to the shares held by | them, the augmentation of the capital being for | the benefit of tre joint concern. (3 Mass, R., | 304510 Ohio R., 91.) By the bill and in the argument of the learned counsel for the plaintiff the sale of | the new stock at the reduced rate proposed is made @ substantial ground of objection, It 1s alleged that such sale will depreciate the value of the stock, an opinion or conclusion, But it does not appear What the value of the original stock ts in the market, or that it ts worth more, or that the new stock could be sold for more than fifty per cent or the par value. Nor ts itshown that the debts incurred and expenditure necessary to com- plete and equip the road could be met by other means, Or by aby means possessed by the corpo- ration independently of the new stock. But if the issue and saie would reduce the value of the stock, that {8 an incident not affecting 1ts inherent value. ( ikner vs. Hebard, 26 Vt. R. 462.) It was held im that case that one who had contracted to pur- ing two overcoats and a at'ver watch fiom Vincent | chase the old stock could not rescind the contract by reason o1 a change in tne vaiue 40 caused. It is apparent that one contracting to take and 8 certain price tor the old siock without having reason to apprehend such increase of the stock and reduction v1 its market price or value stands the same rejation io such changed a8 one aiready owning a like number of shares. | (59 Me. 270.) The qaestion whether the arock to be tesu shouid be put on the market at a p ice lower tan tue pal jue thereot proper tor the considera- tion o! the directors, 18 addressed to their judg. Ment and of necessity to their discretion. Une of the imnerent powers peculiar to the bowrd of di- rectors 01 sucu @ corporatton is thus called ito exercise, On due consideration I am satished that, in view of the method provided by stature for the increase of the capital sock and Of the vc tion of the srockhoiders in voting that increase, and of the double purpose asstzued, one of wmch 18 how to be vrovided tor, this stock may be legally issued and sold as ; roposea. It follows that the injuuction cannot be con- tinued, COURT OF SESSIONS. A Woman Convicted of Perjary. Before Judge Moore. Catharine Daly was convicted of perjury yester- day, The prisoner and her two sisters have been irequenters of the Court House tor several years past, having been involved in a litigation about some property owned by one of the sisters, Ann Daly, and on which the prisoner had a mortgage. It was generally bellevea that the prisoner was in- Sane, and that {s the opinion to-day oi ali those who have come in contact witn her. The result of the litigation was that the Dalya lost all their prop. erty und Catharine was ar ested on the charge of false swearing im supplemeutary proceeuings in- | stitut-d by the party who had got a judument against her sister Ann, the case went to the jury withont argument and the prisoner wus found guilty, Counsel for deience appied for and obtained a stay of proceedings. YNITED STATES SUPREME COURT. WASHINGTON, March 20, 1874, No, 230, Warren va Vam Brunt et al.—Error to the Supreme Court of Minnesota.—!his was a con- text concerning the preemption title to certain land in Minnesota, upon which Warren and Van Brunt had both entered. Warren claimed that Yun Brupt entered only as his tenant and em- ployé, avd Van Brunt asserted chat they had made the entiy jointly, Van Brunt applied for a patent, and, dying, his widow obtained tne patent under | the decision of the General Land Oftice in her favor. ‘The Supreme Court of the state held that the proper officers of the government lad, in the discretion which was reposed in them, decided the question Of the locality of the entries made by tie | parties, and had determined tbat the improve- ments made and required were those of Van Brunt, eutitling him to the patent. Their decision was fnal, hus holding the case was dismissed, Itis pere contended tiat the Court erred im this decision, and that there sionid have been @ parent to tne two in common i the decision was not in favor of Warren, The deiendants in error urge tiat there is No tederal question in the case, and tha’ this Court, therefore, has no jurisdiction to review the decision, Wukinson and Davis tor | plaintia’s in e deiendant, No, 229. Nash et al. vs, Williams, executrix— Error to the Circuit Court jor the Western District rror, Carlisle and McPuersun for | of Texas.—Tiis was an action of trespass ior the recovery of a league of land on tue Colorado River, brought by the defendant im error as executrix of ‘H.W. Wiliams, deceased, whose claim was upon an administrator's deed, made in pursuance of an order of the Probate Court of the pr: per county, ‘The defence of the plaintiffs in error was that the order and decrees of the Probate Court were void tor want of jurisdiction; but that, li not so held, then they were void because obtained by ‘raud and collusion, no such deiendants being establi-hed | | against tue esiate of the intestate as thuse ior He had been aubpanaed to appear ; | before a committee in Wasitugton on ‘Tuesday, , vate, ‘which Connete Lad crought irom whicu the allezed sale was made, They set up title under oue Connett, who claimed to huve pur- heirs cha-ed the propert; from the of the intestate, an also to have be- come owner by reason of # mar. suavs sale to him, the sale being bused on a judgmeut recovered against the iniestate, On tne trial a question arog? Wuether tie uores of the intestate held by Connett, and upon which tne | judgment was obtained, were given jor a vuinuvle cousiderauou, it appearing that were given in part ior slives purchased uf Couneit b; issourl 10 1861 alter the commencement o/ the war. On taese jacts ‘he Court held that, as the slaves were re- moved irom Missouri to ‘lexas for tue gale, aiter the exisience of the war, by Counett, a citizen of Missour:, the sale made of them was an unlaw'ul act on his part, coutrary to lis duty as @ citizen o: the United States and of Missourt, and | Ws in Texas @ transaction void in law, and which caunvot be enforced in the coarts. The judgment Was sor the executrix, and it 1s here 1asisted, among errors assigned, that this ruling of tie Court was a misrepresentation oi the tacts and in- B)pucable to the cuse; that Connett, being in pried with the Souti. removed fis property- southward, 98 the military lines compelied tim to do if he would rematn within the revel territory, and tiat his intention Was not simply, or at ali, to seil the slaves. un the contrary, tual, on arriving in Texas, he hived his siaves in most imstances untii 1864, wien they were sold to Wiliams. George F. Moore and John Hancock tor plaintit.s in error and Jackson & Jackson and James A. Bucuauan for defendant. THE POLICE ASSAULT ON HR. ROLDAN. Examination Before the Coroner—Dis- agreement of the Doctors—Fitzpatrick and Touhey Held in §10,000 Bail Kach— Recommitted to the Tombs. Yesterday afvernoon Coroner Kessier took some Medical testimony touching the case of Joseph Kollman, ot No. 407 East Forty-eight street, alleged | to have been brutally beaten by Ofticers Fitzpatrick and Touhey, of the Nineteenth precinct, ‘The prisoners, who had been vorought from the Tombs, were present, and appeared exceedingiy anxious to give their evidence and also that their wit- nesses might be examined, but the decision of the Coroner was against them. Tne following is the testimony of Deputy Coroner Leo:— lo compiiance with Coroner Kessler’s request I visited Mr. Koliman at No. 407 Bast Forty-sixth street this Morning at nine o'clock; met there Drs, Satterlee and Thomas, of the Poiiee Depart- meut, and Mylius and Gaieke, attending surgeons to the injured mau; Mr. Koliman got out o1 bed and seated himseif on a chair, 80 a3 Lo atfurd us a better opp rrunity to make an examination of his wounds; tis puise averaged abont eighty, respira- tion 24, with @ medium temperavure; two inches above the left eye was a cut of aa inci and three- quarters in length, while on the rigut eyebrow, hear the exteruai angwiar process ofthe orbit, Was @ cut Of wbout one and a nail inches; there was consider- adie ecchymosis beaeatn and around the right ee and a@ rather suspicious fulness on tae right side OF the face, siightly Indicative oO: erysipelas; on the dorsal aspect 0: leit arm, jast above the wrist, was a biuise and also at the eluow joint; the pupils of both eyes were examined with a negative result; the patient seemed exceedingly nervous an rather weak, and complained o/ considerable pam and tenderness in fis left side; the scalp of head Was extremely sens.tive to touch; in conclusion, ican only say that 1 find as yet no pretext on Wi.ch to base a favorable prognosis or termination of Mr. Koliman’s case. August Guieke, M. D., deposed to attending on Kollman aiter the beating; iound him weak [rom loss uv! vlood, and on Thursday morning his puise ‘wus 50 low that I considered his lite to be in dan- ger; there were some fears of er) sipelas ensuing; Uhiuk he 18 not yet out of danger. Dr, saterlee, police surgcon, testified that he Was called to dress the wounds of Mr. Kolunan, and described the nature of his injuries; saw Mr. | Koliman_ yesterday morning in company wiih Deputy Coroner Leo and other medical gentlemen; consider him to be in no danger whatever—in iact, | think he might be in court te-day; no symptoms ol brain trouble or of erysipe'as. } + Pouce Surgeon Thomas currovorated the testi- mony oO! Dr, sateriee in all important particulars. No other witnesses were examined, as the Cor- oner suid bis Only purpose in tuis eXamination was to determine the nature and extent of Koilman's injuries, and also whether he was yet in danger. He said he siould be governed by the mujority, and as two physicians had testitied that Mr. Koil- man Was not out of danger, tuey being vorrobor- ed by one who was absent, and only two police surgeons had testifled that Mr. Kollman was in ao | danger whatever, tue Coroner decided to hold each Of the officers tu $10,000, in default of which they were remanued to the Tombs, Captain Gunner said, most emphatically, that Kollman was perfectly able to be im court, and, with Sergeant Hamilton and others, denounced the proceedings against the officers as unfair and unjust in the extrems, they having no chance to be heard in their own behatt. Quite a number of witnesses were present to give testimony in favor of the accused officers, Who may be heard iu court. or before the Board of Police Commissioners, Coroner Kessler absolutely declined taking their evidence, THE VIRGINIUS CASE, British Investigation Preparatory to a Demand on Spain. The Kingston (Jamaica) Gleaner of March 7 says:— ? In accordance with instructions received from Her Majesty's government an inquiry will snorti, be held in respect to the relatives of those Britis subjects who Were captured on the steamer Virgintus and snot , order of General Burriel at Santiago de Cuba. It te surmised that this carne is with a view tosecuring compensation from Spanish government, tue intes- | urpose Of . REAL ESTATE, Analysis of the Present Condi» tion of the Market, Its Pros- pects and Possibilities. THE LOST STANDARD OF VALUE. Why Reat Estate Is Dull an¢ What Might Be Done to Bevive It, —_— There is @ Community of interest in all the various departments of industrial or commercial activity, mm speculative enterprise as in the more solid business of investment, which renders them all liable to be affected in a greater or less degree by the same influences, Real estate is not superior to the conditions which affect all other species of property, and im respect to value recetves its | stimulus or its check tn due proportion under the operation of recoguized and well known laws. ‘Thus while real estate maintuined a firm front | auring the recent panic, and still matntains tt, be- | cause that was a monetary panic in a time of pro- | \ | ductive plenty—a thunder clap, as 1t were, th the midst of @clear sky—which, if it had been per- mitted to pass away, wouid have left only a clearer atinosphere behind; yet inasmuch as ‘THE BLUNDERING POLICY OF THR TREASURY DE- PARTMENT perpetuated its dangers, so real estate is beginning now to wheel into line with the other interesta that suffered through this crisis, At present itis only stagnation; but what isto come next? Itis well, just at this stage, to pause and examine, that the result, when it does come, may not be a | surprise, Everybody who watched closely the | origin and progress of the recent panic was sur- prised at the wonderful recuperative energy which the country exbibited alter the first shock was over, when the banks throughout the country followed the example of the New York banks im applying as a remedy for the existing great evil of hoarding, which made money scarce, the principle | of tree banking, which authorizes the creation of currency in proportion to business needs, This was precisely what THE I3SUK OF THF BANK CERTIFICATES meant. It was, perhaps, contrary to law, as tt Ine volved tha issue of additionalcurrency. That such. | was its character ts abundantly proven by the fact that even after the banks resumed the publication | of their weekly statements these certificates, alarge amount of which were then outstanding, never appeared in such statements, They were not loans, because they were uot money, and they | were not included in the item of currency because: | they were unauthorized by iaw. They were, how- ever, to all intents and purposes currency; and, supplying the place of that which was locked up by ignorant and frightened owners, they carrie? us through the panic in safety. When confidencs was restored and money began to come out egaim from its secret hiding places these certificates were gradually withdrawn and replaced with regular currency—a Most notable exibition of the value of @ [ree banking system, Real estate | through all this interval, ‘ | ALTHOUGH DULL, MAINTAINED’ 173 STRENGTH AND FIRMNESS, and as other values began slowly to peccren coy the shock they had received and business seeme to be reviving, the stable character oi real estate | Values, a8 contrasted with otuers it Was sought, | wouid provoke a large investment demand in tl direction this spring, 3nd an active Market was | looked for to compensate for previous duliess and hazard. There can be no dout, either, that that. expectation would have deen realized if the sama | Sagacity which led the Secretary of the Treasury | to oppose the issue of the $44,000,000 reserve at | the meeting held at the Fith Avenue Hotei, in tis | city, in the early days of the panic, had prevailed with him to continue his opposition, special Session of Congress, called for the purpose of au- | thorizing a new short loan to meet current ex- | -penses of the government, would have cost the. country less by millions than the penny wise and und iqulish policy which afterward prevailed. | Even A BOLD STEP, such a3 would have added the entire $44,000,000 50 culled reserve to the permanent circulation of the country, while it might have created more violent | opposition, would not have deranged trade to the | extent that the vibratory policy pursued of vary- ing the limit from day to day bas, The evil would | then have been known to its ull extent, and could: have been intelligently encountered; but the evil | is yet with us, and no man knows when it will end. Thus trade of every kind throughout the country is paralyzed, and the year seems likely to go by without leaving any profits or accumulations in the hands of business men. danger thus come upon us was early pointed out in tl column to real estate owners, and they were warned to bring their influence to bear upon Uon- gress fora speedy solution of the financial prob- lem, eise their interests would certainly suffer by delay, And THESE INTERESTS, IN COMMON WITH ALL OTHER IN- TERESTS, have suffered and are suifering by this continued delay, which, if persisted in, threatens serious danger here, especially to high priced property witualo the old city limits. Taxes and assessments continue to increase upon this class of property to a burdensome degree, and there is no relief even in @ sale, for there ts no market; nor can there be while there is no standard of value to govern transactions, Im the newly an- nexed district the outlook 19 not so bad, as prop- erty there is cheap in comparison to what it will | be afew years hence, and investors can afford to | lake some chances in respect to monetary develop- ments. But | THBRE CAN BE No REAL ACTIVITY WHILE THE STAND- ARD OF XCHANGE IS VARIABLE and uncertain, Sales are yet possible where owners are ready to make iiberal concessions, as there is always capital willivg and anxious to in- vest in New York real estate, at anything below | current values—and in this case such concession must take into account the existing chances 01 Con- gressional action or inaction; but the market that was hoped for earlier in the spring is tast receding trom expectation. Latest advices from Albany State that the bill to repeal THE TAX ON MORTGAGES was reported adversely, This result was already discounted. There is n0 doubt it miht have been leported favorably if the real estate owners of this city made up & pool’ to lobby it through, but real estate is already too much overburdenea With creasing taxes and assessments without cor- Trespouding improvements to assume a greater bur-" den in order to fee men to do what 15 simply an act of justice to the metropolitan district, the so- calied fears of the country memvers being ail mounshine or only “a strike.” As the session ad- vances | RAPID TRANSIT SERMS TO RECEDE as au accomplished jact rather than advance. A great deal of opposition to it comes irom the up- town property owners below 155th street, the same class Who are most affected by the present dulness of the market, Who are jealous of the more rapid growth of the section of the city north of them if rapid transit should bring the lower priced property within easy distance o: New York. ‘ints is really shortsighted on their part, as the growth of New York to its Jarthest limit must enhance the value of the entire real estate of the city, as a population Qi 2,000,000 wil give a much greater stimulua | to metropolitan growth thau a population | of 1,000,000, Thé tmmediate present ia ot great gravity in respect to this year’s real estate Inarket, bat tf Congress wil only hasten to apply the much needed relief in the shape of prompt ac- tio on the financial questiun, particularly in ix- ing the limit of the legal tender circulation, there is achance yet that the market may revive, In | thts connection THE REAL ESTATE INTEREST MIGHT SERVE ITSELF by seeking a large representation at the coming mass meeting to.be held shortly im this city to de- mand such prompt action. If they fail in this and the continued trifling of Congress should precipitate nother panic upon the country they will be cer- tain to regret @ iost opportunity. When the next balance sheet ts made up throughout the coantry, ou the 3ist of next December, if there be no profit shown to business men for the year'y transactions real estate will suffer, in the meantime, however, to those who can afford to hold their property where is no danger in tois temporary depression. The inevitable ten- dency of real estate values in New York city ia up- ward, and it is only when some great derange- ment of trade occurs such as now presses heavily upon the entire business of the country that these values are st allimpaired. The cause in the pres. ent instance is clear and defined, and the remedy equally ap int. Every day the application of thal ly is delayed increases the danger, and if 1b be too log deluyed the consequences are likely ta prove serious, YESMERDAY'S SALES, There was 4 fair attendance at the Exchange | Salesroom yesterday and the jollowing saies were elfected :— By Hugh N. Camp, by order of the Court, in fore. closure—The three story brick house and lot, 16,8x100.11, on the north side of 0th street, 100 feet west of Seco avenue, to Anna P. Churchill, tor $732, Also the three story Urick house aud lot’ 16.8xloa.i1, adjoining the Above, to the samo, for $6.7. By E. H. Ludiow & Co., by order of the Court, in for ¢losure—The three story’ brick house and lease of | 20x94, on the north side of Sixty-filth street, 274 fe east of First avenue, lease tor twenty years Some, May 1, nce Farley, for 1s, at a rent of $240 per year, t0 Souss ana lok, gi aorth ideo, Forgan by R, V, Barnett, by order of the closure~The five Re CA