The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-09-30

l
promptly paid. At two O'Clock, however, the
case looked sGually. The officers found dlta-
| Guilty in procuring currency to meet the de-
mauds. Certified checks OF the Bank OF the
Commonwealth, the City, and the State Bank,
were sent out for collection and returned un-
satisfied, these banks referring them TO the
Clearing House. Their directors and MI. Col
lender, the Bank Examiner, were running IN
| all directions for currency. The tellers Pile
was fast running low, and 1t seemed lmproDa'
BILE that they could hold out. At this 1uncture
relief came from some sister banks in the
shane of several hundred thousand dollars,
and the concern was saved. They continued
| to pay until twenty minutes past three, when,
everybody being satisfied, they closed for the
day. At the commencement OF business 10 the
morning their deposits aggregated $l .lOO,000,
OF which they paid all but $l0O,c before the
close OF business. At three O'Clock they adjusted
their balances at the Clearing House, and
were pronounced all right there.
ooMnopoRE VANDERBILT ON THE FIELD.
During the height of the tremendous excite
| ment that prevailed ON Friday delegation OF
| dealers in the Vanderbilt interest, fearing 3
general panic and crash, waited upon the old
| Commodore and urged him to make his ap-
pearance III the street.
"Come down. they pleaded, seven if you
do no business. The mere fact OF your pre-
sence will allay the great excitement, and pre-.
| vent the crash that now seems 80 imminent.
But the Commodore was deaf to all their en-
treaties, and resolutely remained at his ONCE
| in Fourth. street, wholly uuconeerned, as II de-
termined to let the gentlemen who had manlp-
ulated the crisis carry 1t through to their
hearts content,
The crash came. The street was in confu-
sion. The heaviest firms were suspending.
Confidence became an unknown principle.
Millionares turned @rOnauts, and mushroom
| operators suddenly found themselves worth
millions of dollars less than nothing. The op.:
erations of legitimate business were stopped
by the clog in the Gold Clearing House. Con-
| fusion reigned supreme, and the day closed.
leaving only the anticipation OF greater trouble
on the day to come. On Saturday morning the
old Commodore appeared on the street, calm,
ouiet and serene-the very picture OF self-sat-
isfaction. He moved about, surveying the
wreck with the utmost indifference. He showed
himself everywhere and to every body, and then
quietly took himself away, evidently satisfied
that he had clinched the great victory OF the
bears over the wild bulls OF the gold Clique,
tagouist and aspiring rival, the great Prince Of
Erie.
TIE TELEGRAPH.
An idea may be formed of the immense busi-
| ness OF Friday. the day OF the great panic, Dy
perusal Of the following telegraphic statis-
tics: On that day the Franklin telegraph sent
5000 messages; the Bankers and Brokers 22S2;
|
Company at the Gold Room, 900; the Office Of
the same line at No. 81 Wall street, 800, and
the main line about 5000. More than four
| fifths of this number were quotations OF gold.
TIE SECRET HISTORY OF THE TRANSACTION.
The idea Of q sudden initiation the price OF
| gold at this particular juncture, when nobody
expected it (precisely the very best time to ex-
pect lt) occurred to Jay Gond and James
| Fisk, Jr., and others, SOM days since. Wood
l~N,, ,,r.1,k tvN0 ant
| but the main details were Matched by that
poodly trio, Fisk Belden and Heath, with the
latter two Of whom the former had an inter
| view early on Friday morning, the eventful day
when 1t was determined to make or break. In ad-
d!ton to the use Of A. Speyers as agent OF this
ring, W. F. Livermore was also brought into
reouisition. This gentleman fulfilled an
order from Fisk to buy gold at 50a6e; and was
told to put the large amount thus bought TO
'the credit Of Heath. But when il was seen how
| tho cat WAS about to Jump, Heath refused
| to receive this gold, and denied F!sk's right to
assign it to him. Fisk, OF course, in yrtuous
prudence and penitence. repudiated alike
| Speyers and L'vermore, and in consequence the
whole onus Of the transaction fell upon Liver
more himself, who, afte: paying on all the
| oblip ations be could on bis own account, suS-
pended payment at the last. Fisk is reported
meanwhile, from the moment that he saw that
gold was destined to fall, to have acted through
his secret agent in the bear interest, and II Is
| even said that be has not only not lost, but
has positively made large sum OF money by
his transaction. Not only 80, but Young Erie
| is said to have sent a polite message to that
effect to the grim old Commodore Vanderbilt,
| who was inclined to rejoice at the doWnIall OF
his rival. AS for Woodward, he kept $3,755,-
600 OF gold, which he had bought at $35 for
himself, but he also kept it out Of the market
for the bulls. In fact, the gold panic was
merely engineered by few bold and unscru-
pulous operators, who have, the public may be
sure, taken care Of themselves. A notable
proof OF this last fact is that throughout the
whole OF Friday the leading gold operators
were as cool aud calm as though they were
sleeping infants.
IN ANOTHER WORLD.
Mr.. Solomon Mailer, Wall street broker, is
the first victlm Of the excitement in the gold
| market on 1fiday. For number OF years he
had been afflicted with an occasional rush of
blood TO the head, attended with temporary In
sanity. He retired TO bed at ten o'clock Friday
night, that being bis usual hour. Shortly
after six o'clock Saturday morning report OF
q pistol was heard in his room. He had sho.
| himself.
| HOW LEGITIMATE TRADE WAS AFFECTED.
Probably the worst feature of the gold ex :
ctepent was it's effect upon legitimate trade
Wholesale dry goods houses, for instance, posi-
lively refused to sell imported goods to coun-
| try merchants, because it was impossible to
determine what prices to place Oh them, owing
to fluctuations in'gold.
Again, gentleman who presented mes
sage for transmission to Europe by the cable,
and rendered payment in greenbacks, was in
formed that they could not accept them, not
knowing what rate to place on gold. The
message being OF some Importance, he went TO
Wall street to purchase the gold, but was un-
able to obtain any.
A large India rubber manufacturing firm
| having received information that two OF their
vessels were off Sandy Hook, Immediately sent
the captains Of the vessels word not to come in
until further orders.
The New York panic extended to other cities,
and was felt as far of as San Francisco.
ONE DAY LATER.
The Baltimore Gazette of Tuesday has a
string Of special dispatches from New York de-
scribing the action OF the Gold Board and Bank
on The previous day. Early in the morning the
president OF the Gold Exchange Bank notified
the members that the following dealers had
been rejected for failure to comply with the
rules Albert Speycrs, Dornin Boocock, Gal
way. Hunter & Co., VIM. Bcldea & Co., Seveg
& Graves, Chase, Mcclure g. Co., P. H. Will
liams, Jr. & Co., Charles W. Keep & Co., James
Brown & Co. And Mr.. George Frank gave no.