Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1869-10-27
The Gold Gamblers.

THE IMPORTANT STATEMENT OF Mr.. JAY
G0ULD-How GENERAL BUTTERFfELD
WAS ArPoINTED-CATHERw AND
coRBIN's SHARE OF THE sPoILs-
GoULD's INTERVIEW WITH THE PREsI-
DENr--A LITTLE GOVERNMENT BOND
pooI.-THE GREAT GOLD PooL-wHAT
Nh. coRBIN SAID WAS FOR MRS. GRANT
-TuE PRESIDENTS MIsGIvINds-
coRBIN's GAME.
From the New York Sum.
The statement of the transactions
connected with tho gold pool have
been furnished the Sun by Mr.. Jay
Gould, in his own handwriting, us
follows;
The first Mr.. Gould saw of Mr..
Corbin was in the latter part of May
last, when Mr.. Corbin sent for him,
and they had an interview at Mr.. Cor.
bins residence, 81 West Twenty
seventh street, regarding the appoint
ment of n Sub Treasurer in this city.
Mr.. Corbin represented TO Mr.. Gould
that he could control the appointment,
and wanted to know how he and Mr..
Gould could make money by having
the inside track. Mr.. Gould under
stood that the appointeo was to be
Mr. r. b, Calhorwood, the son.in.law
of Mr.. Corbn. Mr. Catherwood was
an old friend of Mr. Gould, and the
latter was anxious for his appoint
ment. Mr.. Catherwood told Mr..
Gould that he would take no action
in the matter without first consulting
with Mr.. Corbin.
At second interview Mr.. Corbin
informed Mr.. Gould that he had drop
ped Mr. Catherwood, fearing that his
connection with the Presidents family
might be the subject of scandalous
comment, and that he had fixed upon
General Butterfield as tho appointee,
and could get letters from Mr.. A. Il,
Stewart and others, which would
make things appear easy and natural.
He said he could control Mr.. Butter
field, in fact, that he owned him, and
that he had consulted with Mr.. Gather
wood aud the arrangement was salts
factory to him.
The understanding was that Mr..
Catherwood was TO receive one-fourth
of the profit from whatever was made
by any financial operations underta-
ken upon account Of Mr. Corbin and
Mr.. Buttcrfeld.
Afer this arrangement, Mr. Corbin
requested Mr.. Catherwood to fetch
Mr. Putterfeld to him, but Mr. Cath
erwood afterward told Mr.. Gould that
he had been down, and after the inter
view between Mr.. Corbin and Mr..
Butterfeld, the latter gave Mr. Corbin
letter asserting to the agreement,
and this letter was shown by Mr.. Cor
bin to both Mr.. Gould and Mr.. Gather.
wood.
Shortly after this Mr. Corbin re-
quested Mr.. Gould to meet General
Grant at his (Mr. Corbins) residence,
which he did, and subsequently ac-
companied the President to Boston,
where he attended the Peace Jubilee.
On the way Mr.. Gould spoke to
General Grant in favor of the appoint.
ment of General Bntterfeld, and iin-
mediately after the Presidents return
tho appointment of General Butter
field was made public.
Some time in July Mr.. Gould again
met General Grant at Mr.. Corbin's
house, by invitation of Mr. Corbin.
In the evening Mr.. Gould accompa.
MED Mrs. Corbin and General Grant $
children TO the Opera House and left
them there, returning himself to con-
verse with General Grant. lie asked
him what would bo tho financial poli.
cy of the Government, and the Prosi-
dent replied that, as he was anxious
TO secure high prices for farmers pro.
duce, no gold would be sold before the
first Of November, except the regular
sales of two millions a month. MIR.
Gould then asked how he would oh.
tain means to purchase Government
bonds, and his answer was that the
internal revenue receipts was unex-
pectedly largo, and the currency bal.
ances in the Treasury would be sufii-
cient without selling gold Mr.. Gould
further inquired how he expected to
keep money easy, to which he replied
that there we're from twelve to fifteen
million dollars going out in pensions,
and that he intended to increase the
fractional currency from thirty mil.
lions TO fifty.
Shortly aflorward, on the strength
of this information, Mr. Gould pur.
chased seventeen hundred thousand
dollars of government bonds on tho
joint account of himself, Mr.. Corbin,
Mr.. Catherwood, and General Butter.
field. Mr.. Corbin then informed Mr..
Gould that he had received n margin
of ten or twelve thousand dollars from
General Grant, with which to carry
100000 of government bonds, which
were held for the account of General
Grant, as Corbin said, by Messrs.
Stone, Nichols & Stone, Mr.. Corbin's
brokers.
Mr. Corbin said that he was anxious
to return the money advanced by
General Grant and to show him n
profit on the transaction so far as il
bad gone, and desired Mr.. Gould to
pay Stone, Nichols & Stone one per
cent. more than the market price, and
then to carry the bonds for the ac.
count of General Grant until they
should reach 1876, without having any
or security. Mr.. Gould
agreed to do this reserving, of course,
the right to sell tho bonds at any
time, If necessary, to protect himself
and on July 20 he paid Stone, Nichols
& Stone s3G4,500 for those bonds,
which was $1,000 moro than they
were worth on that day, and which
represented profits that Mr.. Gould's
iirm anticipated would accrue under
the governmental policy of buying
bonds. The transactions thus entered |
into between Mr.. Corbin and his as.
sociates resulted in an eventual loss
IF $4,000 The bonds were sold with /
.he assent of Mr. Corbin.
FOrcseeing from the large short In.