The Fremont weekly journal. [volume] (Fremont, Sandusky County, Ohio) 1867-1877, 1869-10-29
WALL STREET UNmAsKED.
Tapping the Washington Tel.
egFaph Wires.
How the Gold Ring made their Mil
lions The kilograms between Gener-
al Butterfieid and Secretary Bout
well Captured by the CIique-How
1t was Done
IFrOm the ny: Sun. 1sth1

I
On the 24th ultimO, the day when thegOld
panic eliminated, and the gold clique retir
ed with only partial success, Gen. Butter
field learned that somewhere in New York
or Washington, or from some intermediate
point the Telegraph wires we're leaking news
which the Wall street gold and stock COM
binatiOns were using to their exclusive ad-
vantage. General Butterfeld was seated at
his ittleItable in the Assistant Treasurer's
room of ths Treasury building during the
most eventful panic day; around him. in
painful suspense, wereI gathered nearly
scOre Of Wall street rulers, the most of whom
expected, yet did not hope for, the fatal dis
patch from Secretary Boutwell, to the Assis-
tant Treasurer directing him to sell gold.
Two Preliminary dispatches had passed over
the Wires-One by one eOmpany's line, the
other over sldifsrent route-at 1890 A. NJ
These were an inquiry from the Secretary on
the situation, and Gen. Butterfields replv.
Immediately afterward one partner from
each Of several Of the heaviest operating
houses, or representing person from each
Of them, was attending the voluntary meet
ing in that Southwestern room in the Treas
ury building. When the fatal dispatch did
come, and while the ragged bearer of it was
before Gen. Butter6eld's table, one of the
heaviest street operators entered the door
with the announcement that gold was selling
down to 1S2. 1t had been vibrating bs-
tween $50 and l72 for the previous ten min
utes. While the news of the depressed price
was being spoken, Gen. Buttsr6eld opened |
the telegram, and read it aloud. The order
10 sell four milliOnes of gold was known on
Wall street ten to twenty-five minutes, be-
fore Gen. Butter6eld saw the contents of
the order
The gold clique only knew of its receipt,
and the kings among them made no DELAY
in getting into safe quarters, after dispos-
ing first Of many millions of their load. 1t
has been ascertsined that the Franklin .ele-
graph Company's wires were tapped, either
outside of the city or from some roef-top in
Hde the city, and that the news was used to
he advantage of certain operators. When
he news reached the Franklin Office here
II expert operator, accustomed to the sounds
+ that instrument, wrote the dispatch as
ast as delivered, and when done sent it to
he headquarters of the ring. The same !
hing was repeated last week on the occasion i
General Butter6eld's selling the 81 .OO0 OOO
{ gold at the stated weekly sale. This
me it availed them nothing, fJr the Assis- d
mt Treasurer referred all the proposals 70 4
ecretary Boutwell, for decisions. He s,.
'Sted cipher system to the secrstsrv on f
e 17th Of September, which was approved d
ID cipher is to be emoIoyed hereafter IN L
lriViai as well as in all important com o.
unications BY telegraph. The last tsppirg L
IS =. not done by the great gold pool combi- q
tion, as they had NO use for any such in. II
-mation. ki