The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1869-09-28

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The New HorlDf fpaffssss..s1of iExidas sziue
graphic saccounfs OF thsssceness IN Eull
street; Of tho stook and gold ~ 4 {le3,
during the excitements OF the corner ifi
gold and combination in stocks that have
been going on for the past three or four
days. Thet scenes OF Wednesday, ii
would seemi were illustrated by greater
excitement even than on the previous
day.. when the '.street" was suddenly
startled by the rapid descent in the price
OF Central Railroad stock, and the equal
ly rapid advance in the quotations OF
gold. The New York Times says: 49,.
During the whole day, (Thursday. J
the gold room was the arena of an Iip.
roar that would only find it's parallel in
previous scenes of q similar kind in the
same locality. The bear party at times
seemed to be perfectly frantic while un-
dergoing punishment at tho hands of the
exultant and defiant bulls; and, as the
roar Of battle and the screams of the vic.
tins resounded through New street, it
seemed as though human nature was un-
dergolng torments worse than any that
Dante ever witnessed in hell. In stock
operations the day was hardly less excit-
ing, and Central was of course the prin-
clpal point OF interest, as it had been on
the previous. The fluctuations were less
violent than those of Wednesday, when
they covered twenty-three points, but
still they were suffic. emily wide, eighty
threo to ninety-one,) as will be seen by
our regular stock report, to arouse ope-
rators and interested parties to their
most determined efforts on one side or
the other. 1t is but little over three
weeks since Central was quoted at ZIG.
and the downward movement has been
by fits and jerks till Wednesday, when
the great and terrific descent occurred.
"Old operators in the street say that
the bull clique which now controls the
gold market is the most powerful CLIQUE
we have had in gold since the war-if
not the greatest that has appeared since
gold went above r eight years ago
The names ef parti' who are supposed.
if not positively known, to compose this
clique are freely mentioned.
That the rise in gold during the last
few weeks-including the sudden ad-
vance of the last two or three days-is
the work OF clique or ring is perfectly
we'll known. There is nothing in the
condition of the country, or in its rela-
tions, to Justify the extraordinary appre-
citation OF the premium. 1T is the
scheme Of clique exclusively, said one
Intelligent broker; nothing else what
ever. And he considered that this was
demonstrated by the facts: 1. That ex-
change on London is plenty at 1O5 to
lO7, which would afford handsome
proht for the importation of gold from
Europe at present prices; it being, more
over, we'll known that million of gold
or more IS now on the way here, and
still more has been ordered. Q The
parties who hold the gold in this market
are paying an eighth per cent. a dav for
carrying 1t. These two facts he consi-
dered to be in themselves conclusive as
to the nature of the present bull move
ment.
"This clique have been engaged in
their operations for months. They
bought gold when it was at 14O-and
they bought it all the way down to 1917
and then they kept on buying it "a it
went up again, their purchases being es-
pecially heavy, some time ago, when it
was at 134; and, at present, they seem
to have control of all the gold in the
market and in the banks. It is under
stood that when they commenced their
more active bull operations at 1874 in the
earlier part of the month, the CLIQUE
held ut least $40, ,00O,OO either in gold
itself or in the contracts of parties who
We're short to them. Although they have
bought largely every day since that time,
it is supposed that they have sold and
settled with those short to them to fully
as large an extent as they have bought.
SO that at present they actually hold no
moro than whom the price was 134. In
the meantime, they have realized large
profits from these sales and settlements
expecting. of course, to lose Ultimate
ly upon what they have on hand when
the market breaks.
The New York .Sun gives the follow
ing:
"It was significant fact that more
than two-thirds of the brokers arrived at
the gold room before $50 A. M. and
before 8 gold was sold in large amounts
and ut figures considerably in advance of
the quotations of Wednesday NIGHT.
Early in the day came Admiral or Com.
modore James Fisk, Jr., and the Hon.
John Morrissey, who, by the way. is re.
ported to have cleared $2OO,O by his
operations during the stock panic of
Wednesday, They vuarn,lr ,,rootol - -