The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-09-27

run Of many Spectators and the enrichlng o
| a few. The ultimate results are likely to bt
| far more serious.
poNas ON THURSDAY.
The New York Times says:
During the whole day Thursday the gold
room was the arena of an uproar that could
only find its parallel in previous scenes OF g
similar kind in the same locality. The bear
party at times seemed TO be perfectly frantic
while undergoing punishment at the hands o'
the exuItant and defiant bulls; and. as the roar
oF hattie and the screams OF the victims re.
Sounded through New street, it seemed as
though human nature was undergoing tor
ments worse than any that Dante ever witness
ed in hell. In stock operations the day was
hardly less exciting, and Central was OF course
the principal point Of interest, as it had been
on the Irsvious day.
POWER OF THE GOLD CLIQUE.
Old operators in the street say that the bull
CLIQUE which now controls the gold market is
the most powerful clique We have had in gold
since the war-if not the greatest that has ap-
neared since gold went above par eight years
AGO. The names of parties who are supposed,
if not positively known, to compose this clique,
are freely mentioned. That the rise in gold
dnring the last few weeks-including the sud-
den advance Of the last two or three days-is
the work OF clique or ring. is perfectly
we'll known. There is nothing in the condi-
ton Of the country, or in it's relations, to
justify the extraordinary appreciation OF the
premium. "It is the scheme Of q clique ex-
clusiyely." said one intelligent broker; ''noth-
inc else whatever" And he considered that
this was demons'ra rated by the facts: /. That ex-
change on London is plenty at los to 107, which
would afford handsome profit for the impor-
tation of gold from Europe OF present prices;
il being, moreover we'll kncwn that q million
Of rold or more is now on the way here, and
still more has been ordered. 2. The parties who
hold the gold in this market are paying an
eighth per cent. day for carrying it. These two
facts he considered to be In themselves con-
elusive as to the nature Of the present bull
movement.
THEIR PLAN OF OPERATIONS.
This clique have been engaged in their opera
tions for months. They bought gold when it
was at 14O-and they bought it all the way
down to 131l-and then they kept on buying it
as it went up again, their purchases being es-
pecially heavy some time ago when 1t was al
l34; and at presen. they seem 10 have control
OF all the gold IN the market and in the banks.
Il ia upderstood that when they commenced
their more active bull operations at 134. IN the
earlier part OF the month, the clique held at
least forty millions, either in gold itself or 10
the contracts OF parties who we're short to
them. Although they have bought largely
every day since that time, it is supposed that
they have sold ard settled with those short to
them to fully as large an extent as they have
bought-so tina. at present they actually hold
no more than when the price was 134. In the
meantime they have realized large profits from
these sales and settlements-expecting, OF
course, to lose ultimately upon what they have
on hand when the market breaks.