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

rnr IMPORTANT STATEMENT on Mr.. JAY I
oouLD-nOw GENERAL nurrrnrIrLn /
WAS -cATnrRwOOp AND ,
connIN's SHARE of TnE srolLs--
uouLD's INTERVIEW wIrn rnE rRrsi. /
DFNr--A LITTLE GOVERNMENT BOND |
roor-rnr GREAT GOLD PooL-wnAr
Mn. coRnIN SAID WAS ron MRS. GRANT
-TnE PRESIDENTS MIsGivINos-
coRBIN's GAME.
From the New York sun.l
The statement of the transactions
connected with tho gold pool have
been furnished tho Sun by Mr.. Jay
Gould, in his own handwriting, as
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 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 tho appointco was to be
Mr.. r. b. Catherwood, the son.in-law
of Mr. Corbin. Mr.. Catherwood was
an old friend of Mr. Gould, and the
latter was anxious for his appoint
ment. Mr.. Cathcrwood 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 Butterfeld as the appointee,
and could get letters from Mr.. A. T..
Stewart and others, which would
make things appear easy and natural.
lie said he could control Mr.. Butter
field, 10 fact, that he owned him, and
that he had consulted with Mr. Gather
wood and 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.. Butterfeld.
After this arrangement, Mr.. Corbir
requested Mr. Catherwood TO fetch
Mr.. Butterfeld to him, but Mr. Cath
erwood afterward told Mr.. Gould that
he had been down, and after the inter
view between Mr.. Corbn and Mr.
Butterfeld, the latter gave Mr.. Corbir
q 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 Genera
Grant at bis Mr. Corbin's) residence
which he did, and subsequently ac
companied the President to Boston
where ho attended the Peace Jubilee
On the way Mr.. Gould spoke C
General Grant in favor of the appoint
ment Of General Bntterfeld, and iin
mediately after the Presidents return
the appointment Of General Butter
field was made public
Some time in July Mr.. Gould agair
met General Grant at Mr. Corbin'.
house, by invitation of Mr.. Corbin
In the evening Mr.. Gould accompa
MED Mrs. Corbiu and General Grant,
children TO the Opera House and left
them there, returning himself TO con
verse with General Grant. He asked
- - -----.ii ~, sho sRannial noli
cy of the Government, and the Prcsi
dent replied that, as he was anxious
TO secure high prices for farmers pro
duce, no gold would be sold before tn,
first Of November, except the regular
sales Of two millions a month. Mr.
Gould then asked how he would OBJ
tain means to purchase Government
bonds, and bis answer was that th,
internal revenue receipts was unex
pectedly large, and the currency bal
ances in the Treasury would be suiii
cient without selling gold. Mr. Goulc
further inquired how he expected tC
keep money easy, to which he replied
that there were 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 attcrward, on the strength
Of this information, Mr. Gould pur
chased seventeen hundred thousand
dollars Of government bonds on the
joint account of himself, Mr.. Corbin
Mr.. Catherwood and General Butter
field. Mr. Corbin then informed Mr.
Gould that he had received 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 q
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 1875, without having any
margin or security. Mr.. Gould
agreed to do this reserving, Of course,
the right to sell the 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 more than they
were worth on that day, and which
represented profits that Mr.. Gould's
firm 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
Of $4,000. The bonds were sold with
the assent Of Mr.. Corbin.
F-a... Al