The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-05-16
The Reports of the Money Market I'm the

IL,
the year 1885. The Importance and interest OF
those reports kept pace with the increasing ardor
for speculation and the progressive augmentation
OF the trade, commercial activity, and prosperity
Of the country; and with the other extraordinary
events which succeeded in 1886 1873. During all
that period OF time or the greater portion of it,
| the reports OF the Nee York Herald were the only
ones published IN this country, or which had been
attempted. They commanded the universal atten-
ton OF the newspaper press and of the commercial
community throughout this country, and in Euro
pean capitals.
The interest and Importance of these reports
| excited 80 much attention abroad and at home,
that their origin and authorship became a subject
OF great inquiry and conjecture. Some attributed
them to this broker and some to that--some to this
individual and others to that individual. For a
long time twas supposed that they were all writ
ten in Wall street. But from 1885 up to within
| few months pasts, these rumors and reports and
| coDectures connecting them with particular midi
viduas, never gained any belief or credence in the
community, from the want of tangible facts to sup
port them. few months ago, in some alterations
which took place in the editorial department of
this journal, an individual who had been connected
with it as a reporter, terminated his engagement
|
of this city, attempt made TO place to the credit
of this individual the whole Of the reputation which
had been concentrated upon the Herald in conse-
quence Of the accuracy-the comprehensiveness--
and the great ability of these commercial reports
The individual thus put forward by the Post-by
name Thomas p. Kettel-came forward himself
IN some obscure paper, and published card in
viii h he claimed, in any thing but a Just and
tba l. IL
talent, skill, and information displayed in the pre-
paration of those reports.
We do not trouble ourselves about small mat
,ers, or endeavor every occasion to minister to
the vanity of authorship in ourselves or others
but when we deliberate attempt, such as that
made in the Euening Post, and participated in by
the Richmond Enquirer, the albany Argus, and
ether prints to deprive of the merit of that de-
partment of our paper, which owes lis orig in and
its reputation solely to our efforts and to our
labors, we deem 1t proper at once, to settle the
question by the production of evidence, which no
one can doubt, and which is perfectly irreragable.
We, therefore, annex the following statements
from four gentlemen-all of them connected for
several years with this establishment, and two Of
them for longer period than the individual Ket-
tell was -
New YORK, April q, 1874.
In accordance with Your request will state few facts
relative to the authorship Of the money articles of the
These articles have considered to be yours by
right oorignay and dctation well by right pur.
chase When first became attached to your establish.
ment, in January 1887 you only collected the mate
rails which formed the basis of money reports but
you actually wrote them and you continued to do so,
with perhaps one or two exceptions, till your departure
for Europe, in May 1888 1t only few day previ
Gus to your leaving New York that called another
IN yyrifQ ham Van
mine to take charge of that department. but owing to his
business engagements he could not that time comply
with your request You then selected Mr. Keel already
in employ to collect the facts write the articles
What they were in point Of merit during the period
csr,an for bmsa h any person can as
York Herald for the summer Of 1898.
On return to this country the fall of that year.
you were again seen in the money articles and know
from actual observation that you daily dictated to Mr.
Kette what he wrote and what appeared under the mo-
ney market head All the thoughts ideas much OF the
language and the arrangement data were yours II is
true that Mr. Ketell collected the facts but he obtained
them from your friends and acquantances introduced to
him by you in Wall street. and from papers and docu
ments belonging to establishment many of which
All the data however collected by Mr. Kette were daily
shown to you you drew your deductions there.
from and then dictated to him what appeared in the
Herald the next morning.
This shows the paternity Of the money articles clearly
enough to me. never looked upon any person, other
FREDERiC HUDSON
DEAR SIR Tn accordance with your request have
perused the statement made by Mr. Hudson relative to
the authorship OF the money articles in the New
York Herald for the past several SO far as nv
knowledge extends during the time that have been
in the opinion given by him. Yours
ENoCH E. CAMP
JAMES GORDON Bennett, Esa:-
DEAR SR:-f have examined the statement signed
Thomas kette to which you directed my attention.
Ia hat
there are figures in moderately sized statistical table
The numerous ungrounded assertions respecting the
authorship OF the money articles of the Ne York Herald
have been satisfactorily exposed and their gross mac.
curacy completely demonstrated by gentlemen for
long period connected with this office and who had
abundant opportunities of knowing all about the matter
that need hardly add my testimony Still, however
may state in confederation of Mr. Hudson that to my
knowledge also, Mr. kette whilst engaged in the prepa
ration OF the money articles constantly under your
he regularly received from you
ons relative to the topics he handled in these articles
and the in which they were TO be discussed and
usratedthe data to be introduced and the deductions
10 be drawn from themthat all the of inorma-
on books, statistical tables, Official documents and other
necessary materials, supplied by youand that in
TACT he acted as in the production of
articles IN questions your aid being still necessary
than that oil the dictionary the writer's elbow to which
he SO diligently resorted in order to correct his ortho
graphy that being like his assertions in the present
somewhat loose and Inaccurate
The ialse and distorted statements made by this naiv
its eiutston The concluding paragraph of his letter
does not require notice from this place consisting
as does merely of unprovoked personal attack ad
mrably in keeping, however far its
concerned with the rest of the letter. which, altogether
affords the most melancholy evidence that its author pos
sesses an closely allied to that of the unor
tunate tailor described by Montague who addict
ed to lying that he could tell the truth even when
was manifestly to his advantage.
Very sincerely hoping that this exposure however
painful to Its subject may not be without salutary effects
] am, yours, SC.
JAMES ALEX. HOUSTON.
New York Herald Office, April 90, ls44.
NV YonK May lst., ls4l.
DEAN Sin Agreeable to request that should state
what know IN relation to the position Mr. Kettel
pied in your Office annex the following facts MIR Ket
tell became attached to your office in February 1885, as
acoilector OF ship news and reporter of local markets
short time previous to your leaving for Europe May of
the same year you made enquiries for person
time your financial articles during your absence Not
finding at the time suitable person. you decided to
place Mr. Kettel in that department and gave him all the
instruction your time would permit to enable him carry
out yonr views far hid in his In the