Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1835-10-13
Nav YoRK, Oct. 3. 1885.

:. n, r,.. New York, Oct. g. 1885.
:, Gentlemen: knowing your interest in whatever re-
s 70 te money market, especially in come
WIN the United States Bank am induced althongh n
stranger to YOU to furnish YOU with certain fnc,s which
nave fallen under my observations and which consider
of sufficient importance 10 be cop,munca,ad =, 49,;
ION fou nave doubtless observed the money mar.
ke Tor The last month, has been in very unhealthy
condition Money has been scarce in Boston Philadei.
pha, and New York. FIRST rate business paper h,v;ng
oceh sold at discount of from TO twelve pe cent
per annum The effect of this scarcity has been distinct
~ ,,',De III .e STOCK mnrket Stocks having declined
III n an average len per cent Within period OF ten
days Stocks have fallen u very low point; but since
uie Soih uitino, the market has rallied with great
strength and several of the speculative Stocks have adj
vanced from fee To eight per cent Money agan is de-
cdedy more abundant in Wall street; and the specuIa
TOTS VINO but lew days disposed TO sell Ia 70
suddenly changed theii policy aud are now buving with
extraordinary confidence, and large amount 'rhs sud
den change IN the money market was wholly unaccouu
aoe to our most experienced fnancrrs until certain
facts began to dcvelope themselves which explained t,
mystery, and exhibited the U. S. Bank a gI,t which
may prove important to the opponents of that
The facts allude to- these: that Mr. BiJde md M
!audon have written private letters their friends in
this ci,y announcing another change policy on the
p OF me BANK, which Is to be- expansion until far
t.er notice One of the letters communicating this in
i1rnaton has been seen. Ii addressed by H. Bid.
u'c 10 oas NJ Swell, and purports have been writ
ten for his (Mr Stlwcll's) private government in rein
ION to money specuations This fact you may conf.
IDENTIFY rely upon With regard 10 the DESIGNS of t.
Bank IN adopting this course the inference il rrns;s,;
pie tha some new political scheme has been Determined
upon, lie nature OF which am not prepared to xplan
my present Object being TO show. that aside from any
PoItlca! ends. AZ is clearly evident that BdI Is sim
s,e Dahk 10 aid himself and friends ia spcculatons
my reasons Tor thinking founded on number of
significant signs which have from time to time occurrcd
TO my ooservation will mention few OF them On
e uay when the Stock market the lowest point
- L. Joseph v!s'teG Philadelphia, and known 10 have
been coscted with Biddlr On his return he b,ught nm
wards OF SoOI,0OO worth of Stocks on time and for
eas' ana has been heavy purchaser since Clarkson
" Co are among the extensive spectators in Wall
street. Ciarkson is brother-n-law TO Mr. Jonathan
Uo9"h"e, one OF the noted Bank Committee. Up 10 the
nf ftac
IN Wall street From that time however he has he
come heavy purchaser to enormous extent; and
nave no doubt that he Juseph and Bidde are leagued
together IN the purchase of Stocks
~ IS well understood hcre-a fact of which YOU NAV
not be aware--that Thomas iiddle Il Co are ENGAGED
III specializing IN the Delaware and Hudson Canal ,om
pany Stock Within month past they succeeded in re-
ahzlng large sum of money! by forcing the Stock up
some ten or fifteen per cent They will play the same
game again. as you will presently in the rise of
me stock aided as it will be- by the expansion of the
~"''@' States DdHh. A. Ii.