The City public has been greatly interested for some days
in a trial called "The Queen v. Marks and others," which was essentially a case of extortion. Plaintiffs declared that de- fendants had extorted money by threats of denouncing their Companies in their newspapers, while defendants retorted that plaintiffs had conspired to ruin them by inventing the charge. The perjuries on one side or the other were so vehement and artistic, that the jury, in despair, on Monday gave up the pro- blem, and dividing by seven to five, were unable to deliver a ver- dict. It was a bad case, whatever the merits, but perhaps not quite so important as readers thought. If all the financial editors in London were in gaol to-morrow, the public would be plundered still. Black-mailing by newspapers injures Com- panies, but it is white-mailing which injures the community. It is difficult, fools as the public are, to ruin a sound concern, and the black-mailers usually attack rotten things; but it is easy to ruin thousands by praising bogus Companies, or Companies started for the vendors' benefit. The thirst for 20 per cent, is just now at its hotte,st, being stimulated at once by the excessive price asked for all good securities, and by the immense profits a few Companies have made for the time. Every little capitalist fretting under 21 per cent., thinks that if he is only lucky, he may stumble on a Morgan mine, and believes his financial newspaper in the teeth of all probabilities, because it prophesies pleasant things.
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