New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-01-24

started in to cover but the other party,
| the legitimate BEARS" held Tho true
bears never cover until they have gone down the
Delaware forty miles, with their white hats on and their
stockings down TO their heels They buy along until 1t
gets to the highest price 1t about this afternoon,
the Thursd before the black Friday before the other
| half OF these fellows began breaking and began TO
cover and they put gold up to 14. together with all
the help that could give them. On Friday morning
| or Thursday evening Mr.. Beden, then Of the
| firm OF william Belden 4 Co., who had
brothern-law Of mine partner of his who had done
more or less business for all the time said If
you have all the gold you want and you any assist
ance whatever you had better let in to assist
you said, II you want to go In 20 and give your
ORDERS He said, have not time enough to see It, and
hope you will attend 1t for the morning, when
you come down. will bring my broker into the back
Office Of Heath Co.. and you lmay give him whatever
orders you please" told him that he must give
letter of authority, and lie did give the following
| letter Of authority:
| SEPTEMBER 2I-am
JAMES FISK, IT,, esq.-Dear Sir: 1 hereby authorize
during this day, TO extent deem advisable.
be understood the profits Of all such belong
and that Will bear any loss which may result.
On Friday morning, when got down to the office Of
Heath Co.. at hafpast ten, Mr. Belden brought in one
speyers whom suppose, you have heard Of He intro
duced Mr. Speyers and said. "Mr. Fisk Mr. speyers will
execute any orders for my account you may him."
He then turned to Mr. speyers and said Whenever you
have executed these orders you will report the gold to
me-" Gold then about 1i3, and told Speyers the
quicker he got there the quicker he would get at
| that price. speyers being Of those Roman Sax
onans belonging to the German Order felt that soon
| as he could fill Beldens orders he would I'LL his
own gut with the same kind OF stuff. 1t then
got to be about Oi O'Clock, and told speyers to it.
and buy all the gold he could Away he started but by
the time he got there gold had reached 100. speyers
notse WIN Uheni lad nm To
in 80 minutes It should not reach 800 and hence no
began to load up at leo, and Judging from all appear
| ances he got pretty good cartoad Off
During that tine there appeared in The Her York Times
an article charging the Administration with being In
direct league with those who putting gold, and
saying that 1t shameful" We read that article go
ing downtown. and that 1t would be tele
graphed Grant and Boutwell, 1t OF those Gu
rous articles which, when read made you feel weak
IN the knees. II was article, when you
read It, you would dwell on 1t. We
made the remark II It made us
feel little weak In the knees ct that time when we read
IT, what would be Its effect when 1t reached Washington
upon the Hon. Geo. Boutwell, and Honorable Executive
of the United States who probably had never speculated
before this time. II felt weak how much weaker
would they feel AS afterward learned Mr..
Boutwell,, about lOi o'clock, went over TO the
Executive Mansion, and not exceeding over 10
minutes after he back. There was thunder
clap struck In the shape Of information that the Sub
Treasury had received order sell four millions Of
live gold, while sales had been "short' would
rather carry forty millions Of short gold than four
millions Of the real stuff, for the latter is good deal
heavier When the order to sell struck, Speyers was
still picking up gold at leo. The first thing
knew the clap struck there, and gold went down to AL
but speyers feeling that he tho right track con-
tnued take up gold at 160 The next thing saw was
Speyers rushing into the Office with his crayat off, and
without any shirt collar and his hair sticking up straight
what little there was left Of it. He aid not have
over 10 or is hairs. said che: Mine Gotti Tho
whole ting ish played outl I HAYES fifty millions
at leo, and 1t ish selling at 1il. What shall
do 7" About that time my aiairshad got little dis
organized. and I not much interested In Mr.
speyers's business as was my own. told him, You
- fool, you have not any better sense than to be
standing there and buy gold at l6o when it was down to
ln; when you find any in 1t, suppose you
might MS well keep right straight on" speyers went out
OF the front door, and before knew anything OF It, lie
was of again to bid for gold at l6o although it had
gone down lH but his voice had given out and he
was so hoarse that could understand him.
When We started, the thing got pretty hot, and
great many of our friends got and wanted to shake
hands with u.s. but wanted TO shake their fists in our
faces about this time. told Could as 1t was getting
very hot had better 90 to some milder
cline There was back door from the Office which We
TOOK and on way up town the first thing saw was
the accounts on the bulletn.boards OF tho freaks
OF the crazy broker speyers, and that his
mind had given out. 1t was the first thing
heard. We went up town feeling that We
wanted a cool place, If any one did When
got up there no knew anything about IT, NO one
knew whether he In out for there had never Deen
any excitement like it. BY that time had got pretty
mad and when We had sat down time in a cool
place. SAID, will start around to that old fellow Cor
bin and what he has to say went into his house,
and the old man came down. was pretty mad by this
time When he came into the door, said: This Is
pretty piece OF business you have put on
ne now amt ti Is this sharp trick to wipe us of
the face of the earth" "What have you doneF he SAID
al have Just heard It," told him that Thought ne
would have heard 1t from the very rumbing OF the
ground "Just look what has TRANSFERRED What have
YOU done for us all your pledges after giving you
check for $4,000, and after drawing another for
100000, and after. your positively assuring us,
our messengers bearing your letters to Gen. Grant,
that the whole thing fixed" He asked, what sltua
ton are you in said, 81 do not know but 1t looks as
IL we were ruined This would not have been 80, you
had managed your part you said you would We could
not tell whether long short OF god as no one
knew anything about it," told him that had como
around 10 ask him the whole thing had been
trick from the beginning 70 the end. There
did not seem to DO any language strong enough Tor INN
10 use 10 sustain his position He said that he had all MS
arrangements made in good fath he bad promised
that gold should come out The oldsfeow seemed 10
quiet down. This was about o'clock. ana told him
would be up again tonight at ABOUT $780, as something
had 10 be done wished TO talk TO Mr.. Could and
II he IL would 20 to Washington and have
all the gold withdrawn from the market He said matters
could be arranged at least TO save something AMI
I'm that agreed with him. At u o'clock told him
should like Mrs. Corbin with whom had hereto
fore had one interview. She came down, and she was
precisely OF the opinion Mr. Cobln, that some
mistake had occurred that Boutwell, had sold the gold
uit,out consulting the presidcnt She said