The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1869-12-25

SECRETARY boutwell, FoILs ANOTHER GOLD
CLIQUE The New York Times ofSaturday says
The metropolitan financial centre was wildly ex-
cited yesterday, Secretary Boutwell, having for
the second time interfered to Illustrate the de-
signs of certain INSCRIPTIONS capitalists who had
combined to prevent the sale of Government
gold, hoping thus to inaugurate a "bull' move
ment on which they could dispose of gold pre-
vously purchased at handsome profit. Nearly
two weeks ago Secretary Boutwell,, at one of the
Government gold sales, refused to sell at less
than 1872. The action was totally unexpected,
and so confident were some of the bidders that
the gold would be awarded to them that they
sold it in anticipation of its delivery. Naturally
the decision of Mr. Boutwell, was not pleasing to
these gentlemen, who were forced TO buy at a
higher rate in order to fill their contracts. The
movement to prevent future sales commenced
shortly after this event. Certain prominent men
agreed that they themselves and those whom
they could influence should not bid for gold at
any rate Yesterday, according to the Treasury
programme, 81 900, 600 gold was offered. The
whole speculation of the street hinged on the re-
suit of this sale. The premium was lower than
the minimum previously established by the
Secretary (122) and it became matter of great
Importance to the operators to know what Mr.
Boutwell, proposed to do. Those in the ''clique''
expected that the bids would be trifing, and
knew that the rates would be either with the
market, or little below it. Presuming then,
that Mr.. Boutwell, would reject all BIDS large or
small, these gentlemen commenced, at about the
hour of the sale, to operate for rise.
At noon the rotunda of the Sub-Treasury was
literally TANNED with bankers and brokers, and
brokers' clerks and boys, beside sprinkling OF
those castaways who hang around Wall-street in
the vague hope Of something's turning up. When
MIR. Folger had read off all the bids, the stately
building was cleared as if by magic. Pushing
and crow ding as though the fate of nation de-
pended upon his speed, each individual of the
mass made for the door, and in a moment the
steps of the stately edifce witnessed longer
strides, and more desperate haste than ever they
saw before In front of the Sub-Treasury some
persons who had been unusually precipitate,
collded with an omnibus standing in the street,
but despite their bruises, and the mud with which
they were besprinkled, continued their mad
career to the Gold Room, where they added their
quota to the Babel of sounds already commenced
by their more fortunate competitors in the race.
The rates bid for the gold were considerably
below those current in the market, and their ag-
gregate amount was only $482 900, whereas the
Government had advertised to sell 81, 200, 900.
At the Gold Room the scene was almost q
repetition-as far as noise and confusion were
concerned-of those witnessed on the memorable
Friday in September, and the desire to sell on
the part Of the majority of the dealers caused q
decline which was, in an alarming degree,
disastrous TO the anti-Treasury combination. AS
one of The brokers remarked, the clique had en-.
deavored to "euchre the.Secretary of the Treasury
but he had made march on them" From noon
until p. NJ. the premium fell from 1913 to III,
at LOS P. NJ. it touched 1903, and at 4:28 P. N
fell off to 1901, the lowest point Ieached since
September 26, 1862.