The New York herald., 1870-03-02

Erie Railroad. attn Keeping Mrs. Grants letter .
secret from Fisk. Later In the day ne dlscosca ohy
enough OF the truth to make Fisk Jointly responslDe
Tor Whatever amount oi moasy ne should pay AZ. 70
Corbin. OF this transaction Mr. FISK says:-~Mr
Gould says to me, Old Coroin ieeis sroupoa nna
nervous abont some gold; he wants nunareu
thousand dollars; what do you mink ofnp sald l. ~
he wants that money to deal out 20 people, ana u
win help to strengthen our position IN regard 70 TINS
gold, we will give ham one hundred or TWO hundred
ih0usand.' Well said he. do as you please,
went Immediately and got check for a hundi.d
would give II % C0rbn that night"
Mr. Gould testldes that the check was drawn, but
never paid 10 Corbin. MIR. risk knew only or Cor
bins nervousness, but Gould knew rar more. He
ssys aas cSsn haa wv
Of being III any way able TO influence Them. He saw
the whole extent OF the uanger ana the ruin which
q Treasury sale would bring upon aim. New victims
were prepared snd scheme devised TO save him
sef. Mf. Gouus plan appears to have Deen that
Mr. Fisk and others should push on Che work of buy
ins any crowding up the price Of gold, but that he
himself would buy only enough TO keep
up appearances, while he was quietly and rapidly
selling as large amounts as possible without excit-
Inc tue suspicion OF his associates. Nj. Beden
iormer partner OF FISK became ready tool Tor the
accomplishment OF this purpose. Bringing with him
CROWD OF fresh brokers. he went nolsily into cue
street, proclaning everywhe that gold was going
up much higher, and gave continued orders 10 Duy.
That he might have the credit on which to oase n1s
purchases he referred to Fish j. Smith Gould, Mar
tin Il Co. as bis principals anu hackers Whether IT
was an after thought to cover tue retreat OF the
consprators or device prepared In advance 70
enable them to repuoate their purchases IL matter
OF doubt; but iy appears IN the evidence that fiSx
held letter from Beiden, when gave INN unlimlted
authority to purchase gold ut be.den'S risk, aud
10 give any orders ne chose TO Bedeas brokers'.
Early Thursday morning belden brought into ms
back Office MIR Albert Speyers ana introduced MIN
to Fisk, Gould aud smith, teng him TO lake orders
from NM Fisk. ana made the undoubted impression
on Spcyers' mind that tie was TO act as broker or
the whole party. Armed with this autnortty and, IN
common with many other brokers' Speyers pro-
ceeded 20 buy gold. HIS first order was ''buy
quickly Two miiions," and lew minutes later.
(tpn gune m nuy W
10 go and buy without fear. Air. StnlS0n 0ouRHt
many millions under an order to put gold to IA.
orders; bus whiln these tools anu yictims Of the
Clique were buylEg Gould himself was selling.
He says OF That days business Up. 49,. "My pul-
chases were very light; Was seller OF gold that
day; l purchased merely enough 10 make believe
that was baii." Wniie Gould was quietly setting
many Millions ana Belden buylng more millions
tnan he knew OF, fisx spent half an hour In the
God Room, The scene OF tae greatest excitement,
received the adulat,on OF his satellites and struck
terror INTO LBe hearts Of tae bears by Offering 70 bet
any part OF $50, 900 tnat gold would sell at 300
Alter gloating awhile over the impending rum
which they had planned he withdrew 70 collect his
forces Tor the next days work.
Thursday afternoon god closed at about l4s. and
the coNspirators fuahed vtn apparent success,
Jay campaign The operations OF the Cold Clear
ing House, waich usually amount TO $7oo0o coo, had
reached that day 22J 900 0oo Tue clique held calls
Tor more thaa 500, 1000, 900 OF god, and as there
were not more Than l5 000 actual gola IN New
YORK * outside the sue.lreasury tney were masters
81 the situation. Every man VINO had bought
Or loaned gold owed 1t to them and must
buy II OF them, or settle al sucn run-
of all who were short OF Roid including more thGn
ESQ prominent firms In New YORK, many oil them
eading oanAers aud merchants, whose legitimate
business required large purchases OF gold. That
night, at meeting OF the conspirators 1t was pro-
posed TO PUBLISH this Inst next morning 10 all the
CITY papers, stating the amount that each hrm was
snort and declaring how mucn god the clique held,
and informing the ycrims that II tney dd not settle
.t las before three O'Clock higher rate would be
demanded.
SO strongly did this shameless proposal commend
itself to some OF the conspiraors that they sent for
stace IN the way. 1ney were Informed that such
course would constitute conspiracy under the Sta
tates OF New YORK and for this reason, or perhaps
FOR lear OF popular 1ury the scheme was abandoned
It was finally determined 70 put god up still further
ana TO continue the work OF the previous aay a
sun larger scale. Early on Friday morning Fisk and
Gould drove down to Wall street, reading on their
way from the morning papers the lnmistak-
able able signs Of the wrath In store for
the artificial and Unnatural character OF
speculation in gold Than one OF the answers OF Mr.
Treasury could make while the Clique he'd calls Tor
six times as inucn gold as there was in New York
outside the sub-lreaSury ana naeh more tnan both
the Treasury anu the city could command" He an
swered, ''oh, our phantom gold can't stand the
weight or the real SUM- ~
They made heath's ONCE their headquarters, and
With DULLES standing Is guards at the door ana a
crowd OF runners vt their elbow, issued the nnai
orders for ther grand assault upon the commercial
Beden was the man Of straw In whose name all
purchases tnat DAY were to be made FISK was To give
the orders TO buy 10 leave 1t to re Inferred
tney were on account OF himself and Gould, other
wise brokers would not have executed the orders.
OF ali the money he could b. way OF
margins from borrowers. Speyers. deceived and
bus utterly lmprncent and iDjadicious
was to be the convenient tool 10 bid up the market
u the Gold Room. Smith, Osborne Dater ana Tfmp-
son and other leading brokers OF this Clique
Irighlen the borrowers Of gold into private settle
their and JRy tsOtIi0. guilty
pOtter OF all these criminal proceedings Determined
to beLray his own advocates, silent and imperturb
that day better than ever the value or silence and,
rs ne testified to the committee, ~ had my own
plans and did not mean that anybody should say
that had opened my mouth that day. did not'
At nine O'Clock Speyers received his first lnstruc-
tion. He testified that he met Belden coming ont
oil his once, who SAID, Come with me to Heath's
Once;" he also said, "ihis will be the last day Of
the Gold Room; we nave got over Sl10. 600, 900 OF
calls lmeaning that they had right to cali for
mense amount Of money and Can buy all the gold
the government dare 70 sell; you, you wiz be all
was said the way TO Heath's 0i1ice), where l
found Fisk, and Gould and others: Fisk told me to
oSa IN s s Sss Of = sns
price (tnat was, before the Board) was then
l4aa.: thea went to the God Room and
ny my llmi. OF 145 inen. while was
standing there slip OF paper was handed to me ON
James Flsk, Jr.,D and addressed IA Speyers;' /
continued TO buy until got It up to 15O; went
Mr.. Heath's ofrce several times during my pur-
chases and reported 10 Messrs FISK and Goulq show
ing Doth OF them what had done; FISK said, can
rlgnt, 90 back and take all what you get vt 1907
then went back 10 Mr. Fisk and told MIN what mad
that gold had gone above 100; he
SAID he mad heard Of it, and he added, 10 and bid
god up to 1907 take all you can get &C 1907 bnt you WIN
be TOO iate for nave gwen orders 10 other brokers
already 70 buy at 1907 then went back and bought
gold until got 1t up 10 100; after had bought Q
lot at 15O reported again to Mr.. Fisk and he told
me that was perfectly safe, t2at they had their
own way OF doing business and that should con-
tnue to Guy at 1867 gold passed at l60 and went up
70 163M.
Before noon Speyers had purchased nearly sixty
millions. and oLner brokers had 80 swelied the
amount thai Belden swears he has means OF
knowing how much gold was bought IN his nano
In the meantime Osborn ana Willard aud Smith
were taking the borrowers VI gold one after another
into their private oilces and, by working on their
fears and threatening them to advance the market
to zoo, frightened and 6uicl them into making pr
vatc settlements NJ ruinous rates. At short inter-
yai5 willard and Smith and others came into the
once where Gould WAS sitting and and reported
these settlements, and still Speyers was ordered to
buy buy buy and not 10 let the price go below lee
one tnlng was OF course, essential to complete
success that day. The Clique needed vast suuls of
money, as lo be able to pay for the gold tnat par
I,ao wu dac In n m n 10 Dda