Herald and tribune. [volume] (Jonesborough, Tenn.) 1869-current, 1869-10-07

Mr.. Colgate, Messrs. Kimber q Heiser,
and fifty others. The fight opened at 10
\. NJ. with gold at $50. The bull clique
seemed unusually quiet. \ quarter of an
hour passed. and $50 was still the ruling
figure. The Secretary seemed in no wise
overrun with business, and the telegraph
operator worked his machine and conyers-
ed glibIy with the bystanders. At 10 80
the situation was about the same, the mar
ket still standing at 100. The bears
We're cautious, and evidently suspicious
that this skirmishing was preliminary to
bitter fight.
THE GRAND CHARGE OF TIE BULLS.
1t was not until II o'clock that this
comparative monotony was broken; 1jOa
was bid. The bears began to vince.
"HelFs to pay now shrieked gray
haired man apparently burning over with
aronv \ hundred fists were shaken at
each other over the little fountain, and an
. Internal series Of wells filled the room. To
an outsider 1t was impossible TO distinguish
either bid or an offer. The bulls had
now begun their grand charge. They
swept the bears before them like chah
/ From 15O5 the metal suddenly jumped TO
/ 1851 This was unprecedented. Men
began to rave and shrek like mad dogs
They rushed about the little fountain in
paroxysms Of fury. The special wonder
was that in the anxiety Of the bears to
sell and of the bulls to buy. 50 little re-
gard was paid to the last reported quota
tion. Price on both sides seemed " no
object" Men within a few feet Of one
another differed widely in prices. and there
were a dozen different quotations for the
metal In as many parts of the room. The
bears gathered in a group, and snapped
and suarled in turn. The bulls shouted
with ioy. Within fifteen minutes the pre-
mium was forced up to 1921. The bears
sold very readily to their own clique at
I3j. when the market rate was 100. They
refused to sell to the bulls at any price
Much of this traffic among the bears might
have been washes" or fictitious sales, re-
ported at figures below the market, and
to keep down the price; and much also
Of smaller lots than the big speculative
blocks who the bulls were after.
THE CRISIS.
Thus stood matters when Albert Spcyer.
a leader among the bulls, threw among
the rayiug mob the tempting offer Of 100.
Such a marvellous bid coming from d deal
er known to be fully responsible, startled
the whole Room. and for few moments
no response was made But before the
thunderstruck auditors could regain their
cquipoi>e james Brown, an equally well
known broker and agent, offered to sup
ply Mr.. Speycr's wants with one, two.
three. four. and up to five millions. The
latter amount was promptly accepted. The
prompt acceptance Of this bid, while the
bears were selling to their own crowd at
I3j. gave the bulls renewed confidence
During the two minutes preceding this
bid the market price had stood at 1921,
1872, 1GI, and 1901. Mr.. Speyer's bid
was accepted under great excitement. The
ug[F~, chul-.l uI~mnN cG. were lt- I1Illc--r
stricken. Even in the face of MIR. Spcy-
cr's bid the premium dropped to l59, but
quickly rallied to 100. Again 1t touched
159 and a third time touched 100.
FIRST HINT FROM WASHINGTON.
This wavering is easily explained y
prominent bull. while within his Office
watching the tclegrams from the Gold /
Room, received private despatch from an T.
employee of the Treasury Department in /
Washington. Informing him that Bout /.
well would positively sell %l0Oo.oGJ to- /
dav The rumor reached the Gold Room .
Just as Mes~rs. IialIgarten Il Co.. ia view .
Of Mr.. Browns success in placim" SO large
an amount at so inviting price on the .
market. had offered million at the same
price. Some Of this was taken up by .
81 I.,E.r.. +lr. ,rL.. J., ,4....
abs rbed the terrible rumur was circula-
ted through the room. This instantly /
paruIizei the bulls to such an extent that
the pre- fell to 10, and then to 100.
The next bid was is, than #, and finally
10. Then disuay siezed the members
present. for the decline meant nothing less
than the ruin Of all concerned IN the ring.
IHE DEATH STRUGGLE OF TUE BULLS.
The bulls had gone into the fight fully
prepared to take from SIO,OOU,O0O. to
s2O.UUO.OGO. So asserts one Of their
clique. They had not taken S7.00O.0UO /
when they heard Of Secretary Boutwelrs
action The rapidity Of the movements
and the magnetic influence Of the Gold .
Room was too much for them. Their
heads became giddy. and in "a twinkiim@
they lost control Of the market The
100000 thrust of BoutwcIl's was but
a fca-bitc. but they were fearful that his
was a prcconccrtcd one. and .
that S2O.OOO.OOO would be thrown upon
them. if necessary 20 crush the market. 1t
was not until the rate grounded at 40
that they rallied. 1t was nearly noon.
Gold again began TO mount the stairs. 1t
sprau@ from 40 20 100 at single jump
The bears acted as If flash Of lightning
had passed through the room. Bedlam
again broke loose. The room was filed
with shricks and curses. In another jump
the metal struck lGO At this point. Dun
can. Sherman 4 Co.. let the bulls have a
large amount, and they took it in seeming
confidence.
TIE WATERLOO.
AGAIN came the Washington rumor. and
this time. it was said. direct from the Spe-
ciaI Treasury Agent IN this city 1t was
asserted that Grant had ordered Boutwell,
to sell the gold. and that he would order
him to sell $4,000. 600 if necessary.
Away went the market in another grand .
crash. and never recovered until 1t touched .
1873. In the street it went lower. The .
bulls were ruined. Men were maddencd.
Speycrs grew crazy. His eyes seemed .
fixed in despair. lie spoke to his friends
in husky voice, and rushed about the
little fountain as if in terror. At length .
he raised his hand, and shouted hoarsly to
the heated. struggling mass below him.
This extraordinary spectacle nearly 81
lcnced the operators. In few words
Spcyers accused some unknown person OF
an attempt to assassinate him. " lie IS at,
ter me now with a big knife shrieked