upon this case,
and the fatigue you have undergone, I will not trespass upon you long.

Gentlemen, this part of the case branches itself into three or four
heads, upon each of which I must make a few observations.

My learned friend, Mr. Serjeant Best, addressed you at considerable
length upon the subject of the stock transactions of his three clients,
Lord Cochrane, Mr. Cochrane Johnstone, and Mr. Butt; and he argued, that
because it appeared not by any accounts which he put in, in addition to
mine, but by the accounts which I gave in evidence, that these parties
had been large dealers in consols and omnium, and had had large balances
previous to the 21st of February; that therefore you were to believe,
that they had on that day no possible interest to commit this fraud.
That because they had had on a former day a larger balance, they could
have no possible inducement to the commission of this crime. Gentlemen,
observe the amount of the balance on that day, it was in omnium and
consols very nearly a million. Reduced to consols it amounts to
L.1,600,000. Then attend to the evidence of Mr. Baily, who tells you
that the fluctuation of one-eighth was a gain or loss of two thousand
pounds. Though they had been both buying and selling, yet their
purchases had been much larger than their sales, and their attempts to
purchase larger than their actual purchases. On Saturday the 19th, Mr.
Butt had endeavoured to purchase one hundred and fifty thousand, and
actually purchased fifty thousand. On this Monday, the 21st, all the
three have this immense quantity of stock upon their hands; they have no
means of getting rid of it, for Mr. Baily has told you, that but for
this fraudulent transaction, it would have been impossible to have got
rid of it, but at a great loss. They had been buying as a person must
do, to keep up the market, to redeem himself from loss; and on this
memorable day, all this stock is sold, it is sold at a profit of upwards
of ten thousand pounds; and if it had been sold without a profit of one
single farthing, still the getting out without a great loss, was to them
very great gain.

Recollect gentlemen, that just one month afterwards came the news of the
rupture of the negotiation at Chatillon, when the premium on omnium fell
from 28 to 12 per cent.; if that news had come instead of this false
news, on the morning of the 21st of February, the loss of these three
defendants, would have been upwards of one hundr