The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1869-11-19

he expected to keep money easy, to
which the Presidentreplied, that there
were from twelve to fifteen million
J dollars going out in pensions, and that
J he intended to increase the fractional
currency from thirty millions to fifty.
THE OPERATIONS coMMENcEp-TIIE FIRST
/ POOL.
Shortly afterwards, on the strength
of this information, Mr. Gould pur-
chased 81 700 ,000of governmental bonds
on the joint account of himself, Mr..
Corbin, Mr. Catherwood, and General
Butterield.
4 MARGIN or $12, 900 FROM GENERAL GRANT.
Mr.. Corbin stated to Mr.. Gould that
he had received margin of ten or
twelve thousand dollars from General
Grant, with which to carry $500, 600
of government bonds, which Corbin
said we're held for the account of Gen
eral Grant by Messrs. Stone, Nichols
81 Stone, Mr.. Corbin's brokers.
FINALE OF GRANTS BOND OPERATIONS.
Mr. Corbin said that he was anxious
to return the money advanced by Gen
eral Grant, and to show him profit
on the transaction so far as it had gone
and desired Mr. Gould to pay Stone,
Nichols IL Stone one per cent. more
than market price, and then to carry
the bonds for the account of General
Grant until they should reach 125,
having any margin or security. Dir.
Gould agreed To do this, reserving, oil
course, the right to sell the bonds nj
any time, If necessary, to protect him
self and on July % he paid Stone
Nichols a. Stone $364 800 for those
bonds, which was So 900 more than
they were worth on that day; and which
represented profits that AIr. Gould's
firm anticipated would accrue under
the government policy of buying
. bonds. The transactions thus entered
into between Mr. Corbin and his as
sociates resulted in an eventual loss ot
$50 900, The bonds were sold with
| the assent Of Mr. Corbin.
PLANNING THE GOLD POOL OPERATIONS.
Foresecing from the large short in
terest III gold and the absence of gov
ernment sales, an advance III the price
was inevitable, Messrs. Gould and
Corbin determined to enter into a spec.
ulation for the advance. Afr. Gould
visited Mr.. Corbin daily and some
times twice day to consult with him
on the subject, meeting there almos
always Mr.. Catherwood, and Genera.
! Butterfeld occasionally.
HALF = MILLION ~ GOLD SOLD ron THE &C
COUNT or Mrs. GRANT.
Mr.. Corbin gave Mr. Gould ORDER
TO buy several distinct lots Of gold, be
sides taking joint interest in the othei
transactions. Among other lots. h'
directed Mr. Gould TO purchase $500,
900 in gold at one time, which he did
at the price of 1872. When the mark
eft had advanced To 137. IM.. Corb1
directed him to sell that lot, tcI,tct he saie
tras for The account II .Hrs. Genera
Grant. This was the first intimatioI
that Ar. Gould had received that tho
President or any of his family were
interested in the market. He sold th,
gold accordingly, and gave Mr.. CorbiI
n check for s25, 900 on September g
Their interviews still continued to b'
very frequent, morning and evening
and at several Mr. Catherwood wa
. present.
= THAT BOUTWELL, DINNER AT DELMoSIco's 3
In September they discovered mum
| Der of bankers and brokers, who wer,
supposed to be very influential Will
: Secretary Boutwell,, had undertaken
to bear the gold market on large
| scale. After they had made enormous
short sales, this combination sent on'
+. of their number to escort Mr.. Bout
! well to this city, and arranged to Civ,
i him handsome dinner at the Uniol
League Club, where they exerted thei
: utmost influence to induce him to sci
: gold.
5 coReIN cHEcKMATEs THE ''sHoRT" INTEREST
! Learning of this movement and il
! order to checkmate it Mr.. Corbin pro
cured from General Grant letter, Il
be delivered to Mr.. Boutwell,, peremp
/, torily instructing him not to sell gold
coRBIN pIsTRUsTs HIS OWN ApPoNTEE.
This letter Mr.. Corbin gave to Gen
: eral Butterfeld, with instructions t,
0 deliver it to Mr.. Boutwell, on his arri
. val; but, various circumstances havin;
j excited Mr.. Corbin's suspicious tina
: General Butterfeld was playing hin
n false, he proposed to Mr.. Gould that
r safe messenger should be sent to Gen
o eral Grant with letter from him (Co1
bin), which, he said, would settle all G
: them.
i This letter he read to Mr.. Gould
!, who thereupon sent William o. Char
i in to Washington, Pa, to deliver il
e Mr.. Corbin afterwards received let
n ter from member of General Grant
i family, in which the writer expresse
# great anxiety to have these speculs
y tions closed.
J coRBN WANTS TO GET OUT AT 141.
When gold reached 141 Mr.. Corbi
informed Mr.. Gould that he had ju'
sent letter by mail to General Gran
n in which he told him that he was OF
IS of all speculations, either in gold or
n bonds, and that as an impartial obser'
d er he was decidedly of the opinion thu
l. it would be very dangerous to sell gole
N He then said that at present price {
se gold there would be about $3.50, ,00
n profit; that he wished Mr. Gould
If give him check for that sum, deduc
3 ing the $50, 900 loss on the bonds SO {
e to confirm his letter, although it We
10 written for effect. Mr. Gould replie
of that it was utterly impossible for Nj,