Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-10-23

Corbin was in the latter part Of May
last, when Mr.. Corbin sent for him,
and they had an interview at Mr.,
COrbin's residence, 81 West Twenty
seventh street, regarding the appoint
ment Of Sub Treasurer in this city.
- Mr.. CoTbin represented to Mr..
Gould that he could control the APP
printInent, and wanted to know how
he and Mr.. Gould could make money
5y ilaEing the inside track.
"Mr. Gould understood that the ap-
pointe xas to be Mr.. r. b. Gather
wood. the sOniD-law Of Mr.. Corbin.
Mr.. OatlferwOod wSE an old friend OF
Alr. Gould, and the latter was anxious
Tor his appointment.
." Mr.. CatherWOOd told Mr.. Gould
that he would take no action in the
matter without first consulting with
Dir. COrbin.
"Ata second Interview, Mr.. C0Tbin
intormed Mr.. Gould that he had
dropped Mr.. CatherYood, fearing that
his connection with the Presidents
family might be the subject of seapda-
lous comment, and that he had fixed
on Gen. ButteTfield as the RppOintee,
and could get letters from Mr.. 4. J..
StcD art and others which would
make llings appear easy and natural.
lie said Ils could control Gen. Butter
field in fact, that he owned him; and
that he had ccusJited with Mr.. Cath
erwood, and the Arrangement was sat
isfactOry 20 him.
The understanding was that Mr..
CatherWoOd was TO receive One-tOUrth
of the profit from whatever was made
by any financial operations underta-
ken upon account of Sir. COrbin and
Gen. BUtterheld.
After this arrangement, Mr.. COrbiu
requested Mr.. CalherWoOd to fetch
General Butterfeld to him, but Mr..
CatherUoOd refused to do SO. Mr.
CatherW0od afterward told Mr.. Gould
that he had been down town, and af-
ter the interview between Mr.. COrbin
and General ButterGeld, the latter
rra -e Mr.. COrbin a letter asaenting to
fbe 3. .Treement, and this letter Has
,sbov-n ~ Mr.. Corbin to both S!r.
could and Mr.. CatherwOOd.
"ShortIy ail1r this, Mr.. COrbin re-
auested Mr.. Could to meet General
Grant at his (Mr. CUrbin's) residence,
which be did and subAts3 uently accom-
panied the President Il Boston, where
he attended the Peace jubilee,
,'On the way, Mr.. Gould spoke 70
GeaerRl Grant in faV0r Of the appoint
ment Of General Butterfield, and i'm
lnediateiy after the Presidents return
the appointment Of General Butter
field was made pHGlip.
Some time in July, Dir. Gould
again met Gen. Grant, at Mr.. COTbiu's
= H. fVrNvffnHf1r. ~ Ar ffnul.fss
Ia Che evening, Mr.. Gould ace0mpa-
nied Mrs. COrbin and Gen. Grants
,childreg 10 the Opera House, and left
them there, returning himself To con-
verse with Gen. Grant. He asked
Aim what would be the financial pol
icy Of the Government, and the Presi-
dent replied that, a. be was aBxious
J0 secure high prices for farmers pro-
duce, no gold would be sold before the
lst OF November, except the regular
sales OF two millions a month.
" Mr.. Gould then asked how la
would obtain means 10 purchase Gov
&4,ument bonds, and his answer was
th$t the internal revenue receipts
werz EneXpectedly large, and the eur
.rency kaiances IN the Treasury would
Joe sufticieGt without selling gold.
Mr.. Gould further inquired how
he expected 10 keep money easy, to
which he replied that there were from
twelve 10 fifteen million dollars going
out in pensions, and that he intended
TO increase the fractional currency
from thirty millions 10 fifty.
Shortly afterWard, on the strength
Of this information, Mr.. Gould pur-
chssed seventeen hundred thousand
dollars Of Government bonds, on the
ioint account of himself, Mr.. COrbin,
Mr.. CaUherwOOd and Gen. Butteriield.
'sBIr. COrbin then asserted to Mr..
Gould that he had received a margin
Of ten or twelve Thousand dollars from
Gen. Grant. with which to carry three
hundred thousand dollars of Govern
ment bonds. which COrbin said were
held for the account Of Gen. Grant by
MeSsrs. Stone, Nichols q Stone, Mr.
F0rbin's bankers. Mr.. COrbin said he
fyss anxious to return the money ad-
s-aneod by Gen. Grant, and 10 show
him Il profit on the transaction, so far
81 it had gone. and desired Mr.. Gould
20 pay stone, Nicholson & Stone ] per
cent. more than the market price, and
then 20 carry the bonds F0T the Ic-
count OF Gen. Grant until they should
reach l25, without having any margin
or security.
'Mr. Gould agreed to do this, re-
sC1ying, OF course, the right TO sell the
bonds ht any time, Unnecessary 10 pro-
tect himself aud on July y he paid
Stone, Nichols 4 Stone 1854, 500 for
tSese bonds, which was 5000 more
thar, they were worth on that day,
and Al, ,Sich represented the pFQAils
that Mr. Gould's firm anticipated
Nv0uId accrue der the Government
policy Of buying b0n,tS.
1.-The transactions thus enteTeI INTO
between Mr.. COrbin and his associates
resulted in AN eventual loss Of $.JG, 900.
The bonds were sold with the assem-
of Mr.. COrbin.
"Foreseeing, from the large short
interest in gold and the absence Of
governments, an advance in the price
zas inevitable, Messrs. GOHld and
1z,Kbin determined 10 enter into @
speculation for the advance. Mr..
Gould visited Mr.. COrbin daily, and
sometimes twice a day, TO consult
with him ou the subject, meeting
there, almost always, Mr.. Gather
wood, and Gen. Butterfield OCCASION
ally.
- Mr.. Corbin gave Mr.. Gould orders
10 bus several distinct lots Of gold, ba-
sides taxing a joint interest in the
other transactions. Among other lots
ne directed MFR. Gould to purchase
500, 900 ia gold at one time, which he
old. at the price Of I32. When the
market advanced b. l37 Mr.. COrbin
directed him to sell that lot, which he
said Was COR the account of Mrs. Cen
s-ral Grant. This was the first intinIa
ZION that AF, Gould had received that
the President OF any Of his family
were interested 10 fle market. he
sold the gold accordingly. and gave
Mr.. COFbiii q check TOR &, 300, on sep
tember q. Their interviews still con-
fin ,red 10 be very frequent, morning
and ~ ening, and at several Mr., Cath
qrv00d was present.
ain Rept,. .nlher they discovered
nunber OF bsukeFs and brokers, who
-rere supposed 20 be very influential
with Secretary BOGsEell. had under
taken To bear the gold Igefset on a
t.yge scale. After they bad made
.snfTu,ous short sales this combination
sent one OF their number TO escoFl Ar.
Boutwell, 10 this city, ana 10 arrange
10 give him q handsome dinner at the
aTnion League Cub, where they eX-
cried their utmost influence 70 lBduec
him 10 sell gold,
al earning OF this movement, and
in order 70 checknsate it, Mr.. CorDln
Dr0cuFed from Gen. Grant q letter, 10
hp delivered TO Mr.. Boutwell, peFe9lP-
.Orily instFUcting him not to sell goiq'
This letter MF, Corbin gave TO Gen.
Tutterfeld, wigh Instruction TO deliver
IL 20 Mr.. Boutwell, on his arrival. But
various circumstances hayieg excited
Mr.. Corbis's ; suspicious thatGep, But
terfeld was playing him false, he pro-
rosed TO Mr.. Gould that sale mes
senSer should be sent TO Gen. Grant,
with a letter from him, tCorbln),
which ne said would settle all Of them.
This letter he read 10 Mr.. e., who
1hereupOn sent W. o. Chaplin to Wash
ington, Pa, TO deliver 1t.
- Mr.. COrbin afterWsgd received a
setter from Mrs. Gen. Grant, in which
she expressed great anxiety to baVe
these eDeculatiOns closed. One reason
sshf assigned for closing the matter of
the bonds Wss tx il was impossible
20 tell what effect Cuban affairs might
lave upOn them. Another was that
the President feared thai be was in
Hueneed by these speculations, tpolgh
he tried not to be,
When gold reached I41, Mr.. Corbin
informed Mr.. Gould that be had just
Hraea 4 "A In