The New York herald., 1870-01-08
A GOLD TEMPEST.
A Busy Day In Wall Street.-The Gold
Fluctuations and tho Alleged Causes
for the Rise-The "Bulis"
Again on the Rampage.

There was lively time In Wall street yesterday.
Indeed lively tme Is nothing strange IN tnat re-
sort oil the worshippers or Mamnon; but Wall street,
IKE other tnnss we wot Of has ITS degrees Of lye.-
ness that would puzzle anybody but "oullr or
"bear" to unfathom. Last September the gold
panic put the "bears' into state OF general debility
that would certainly have proved fatal 70 many
q weak gold dabber had 1t NOT been
for tho sudden collapse OF the "bus,n who
had tossed gold 40 high that when It dh
fail It very nearly crushed Of them whatever t-
tie wits tho "bears' had left. The shaggy coal.,
learned q lesson then that they have forgotten
and will not be likely to for some time to come and
yesterday their rough experience OF three months
ago did them good service.
The crowd that throDged the Gold Room and the
Stock Board during the day put one forc'by In mind
OF the good Old times 80 fondy looked back to by
brokers who revel In big financial cxcitements-
plenty OF business and imtneus0 profits. Everybody
was excited, without being unnaturaiIy scared ny
any anticipation Of u panic. he Cod Room rail
louder than u has done Tor long time VITA tns
voices OF the bidders aud the transactions amounted
to millions. OF course. under tue circumstances
OF the case the "rumors" that were aaolt were
almost as many as there were brokers to give then
currency: ana the clique who are SUPPOSED TO at
the bottom OF the ''bul' movement III thai lay in
their power 10 add strength--oI course y nctt tous
onc--to the stories that told aud retoid pGr-
p0sey to affect the market III q Du ly way.
rsI II ~ nad % aaaIn enaerea inc he, Win new ,r
OF horns and mad tossed $1,000 Uoo into az
stall, with the benevolent inteniion OF covering
1t with as much more AZ he coud conveniently
carry, until the whole thing. would ''riSsh
steadily as patent yeast and teu times more
ntably. Yet another was that all the parties VINO
had engineered the 'bul' movement 0 september
last and The majority OF whom q dclighted pubic
chartaby supposed had gone ''up IN a balloon
never to come down again. had again Joited baDl3
To put gold up as high as cOrnering couni posi-
bly, put It, August Belmont, IL was also alleged is.a
gone In to the tune OF $4,000 U00 whe seve
parues who act as agents for foreign houses, -
said had coinbned 10 effect the same ivtv purpose
which FISK and others had almost succeeuea
making profitable not cong ago
The price OF gold at tue opening OF the Board was
III aud a fraction ana a day long 1t nuctlat.d
between that point and l2l Late IN the afternoon
IT broke over the even number aud the Indicator set
| IL down at l22is. When the board closed IL had
reached 49, much to the delight or the buiisn aoJ
the CONSERVATION OF the ''bears,n VINO, unuer the
pressure OF the rise anu their unwingness 10 run
too great RISK IN holding out against the upward
tendency OF Ihe market bought III as quik a. tney
could, many at O heavy loss.
What The upshUt OIL the t0luK VIII be to-day * hard TO
tell; but IL may turn out that after all the
OF yesterday, which according to some was q pss-
concerted one simply 10 enect 4 lolts-elsnl iUur
IN the market Will collapse before lne day ~
over. Many Of the most prominent brokers III Wan
street. IL may be said, were unaware, OF pretended
to be unaware Of any ''bn" movement Whatever.