The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-08-19
SCANDALOUS STOCK SpECULATINc.
The Story Of the Burning Of the Henry
Chauncey Pure Fabrication.
Excitement in Wall Street, on Change and in
the Underwriters Rooms-Five Thousand Dol.
lars Reward offered for the Arrest Of the
Parties-Isaac H. Walkers Card

A most cruel and wanton hoax has been perpe-
trated by some personsn all probability by stock
gamblers-in reference to the reported loss of the
Pacific mail steamship Henry Chauncey, near Nor
folk The object OF the canard Is now plainly seen;
and It not for the fact that at the time the
port was circulated as to her destruction she had
large number of passengers on board, chiefly from
this city, 1t would not have been OF so much mo-
ment AS 1t is, the greatest anguish and excitement
has been caused by tho base trafllckers In false
alarms In the neighborh0od OF Wall street
to the friends Of those who were passengers
on the boat and to the merchants having
valuable parcels Of merchandise on board at the
time. Whatever may be the ordinary tricks In Wall
street, this Is one OF the most mean and cOnempti-
bic, and should be stgmatzed such In the teeth OF
those who have prOtcd by already. These tricks,
fortunately are not SO numerous as they were for
merly before the electric telegraph brought into
requistlon In the conduct or marine affairs and the
extension OF the press arrangements. 1t has
ITS GREAT EXAMPLE
IN the report circulated many years ngo in reference
to some transactions OF Old Baron Rocthchild. The
baron was situated that he received the first
Information as to every movement OF the allied
armies then cOntesting against Bonapare, and
one day, having heard Of slight reverse to the
British arms, he Immediately took post chase back
inferred that he was in absolute possession OF the
most reliable information, that told him OF the
complete defeat of the allleu force. fearful panic
arose Immediately on the Stock Exchange, and the
government stocks were sold for q mere trine, all
OF which, by means OF astute agents, ROthschild
purchased. The fact was this was his first great
speculation, out OF which he Is represented to
have made several hundred thousand pounds
sterling, and as he usually had the news
OF everything that occurred in advance or the regu
lar couriers, II was easy for him to mlsead the
brokers on Change. 1t has become sort OF
science now, in order to affect the price stocks
and shares In the market, and it Is a process OF
swindng that is very difficult to get at the only
remedy being IN the law courts, II the parties at
lacked by such false rumors can trace the matter to
the orlginaors. AS recently as last year there was
a story similar to the present one only on a much
better plan, with reference to
THE HEALTH OF COMMODORE VANDERBILT,
ring OF spectators went TO the press agents at q
late hour at night, when 1t was known the truth
ialsty OF their statements could not he ascertaned
and reported thar the Commodore had had para
, ,yt,c stroke which rumor created such pertaroa.
as has not since been Known
Inc Pacific Mall Company's office was Yesterday
besleged by the friends OF the passengers on board
their steamer ana also by the merchants sending
freight IN her. The questions asked were the
same as terrified relations always PROFOUND under
the officers were uniform inasmuch as they proved
tnat al the time the steamer had only left
New York two days. and could not have arrived
where the intelligence Is supposed to have emanated
or course most OF the inquirers naturally sought
stronger proofs than mere verbal statements from
the officers OF the company and consequently many
went away under the impression that there was
more In 1t than the company felt at liberty 10 ex-
press. The Pacific Company are indignant and dis.
gusted with the malignity OF the report ana the
manner in which 1t became Circulated Judging as
they do, its almost exact origin and purpOrt, and
indeed In a pecuniary sense 1t has affected them
considerably, for their stock yesterday fell two per
nd a
half per cent. AS soon as the excitement I'm their
Offices became abated 1t transplred thar thew had
offered reward OF $4,000 for the arrest ana cOnvic
ton oil the guilty parties.
AT TIE STOCK EXCHANGE
who had any interest In the line spoke of the re-
port internal 'callous.n and 10y the signin.
straw SPECTATORS The subject is now before The
Governing Committee OF the stock Exchange, VINO
Of assisting if lot directing, any efforts that may
be brought forward Tor securing the culpabe par
credited by the ''men OF the Wall" It is usual
for the gentlemen connected with all marine affairs
port in the world ana these men are always In
struced to advise underwriters and others
neeGens or in asaser .r eo ,na
Is circulated Tor comment by the public press. As |
gentleman standing near the Gold Room re.
marked yesterday afternoon "fhOsc who are |
familiar with the methods OF speculation iu Wall |
street should readily understand how clique OF |
Spectators would profit Ivy the alarm OF the stock
holders on the announcement of the loss OF one OF
their most valuable steamers The elaboration and
detail or the whole scheme shows mat 1t was not the
work OF new hand in the business; for the de-
spatch was OF the ordinary character of notices VI
disasters and was similar in many respects 10 the
Vanderbilt hoax so widely circulated last summer. |
AT THE MERCHANTS NEwsRoOMs
scene OF considerable excitement was witnessed, |
and many were the Caucuses OF three ana four gen
uemen who mad nothing TO talk Of beyond the bare
faced rogucry practised upon the Pacific Mail Com
pany. These men LOOK upon II as one OF the worst
species OF swndng: for, In addition TO the effect OF
the report upon the STOCK of the company 1t caused
anxious relatives into paroXysms OF grief.
Isaac H. Walker, the gentleman to whom the
and by him to the principal daily journals OF the
city, most indie nantly denies any knowledge what
Of the letter or of the man VINO has
When In conversation with a HERALD
than to hear that was charged with sending that
letter 10 the papers. do not know any one by the
name OF Brown, and as TO the handwriting OF the
letter, cannot imagine any one taking 1t for nine
This Is serious piece OF business for man to be
publicly accused Of such piece OF wanton cruelty
and fragrant injustice. only wish could trace
the parties. ! am sorry that the reporter sent by
YOU did not discover my residence. lor could nave
easily assured him OF the entire falsehood OF the
whole affair. one reporter old ind me- but said ne
had had considerable difficulty but that OF course,
is no Just cause why I should be blamed because |
some impairment gamblers have chosen TO attach |
my name and residence TO their vnlanous docu-
the letter or parties, and out for the fact Of my
having seen the reporter referred TO should not |
my paper this morning." The following ia
MR.. WALKERS CARD
SUN MUTUAL INSURANCE COMPANY
NEW YORK. August Il, ISL.
To THE EDITOR THE HERALD
The In issue OF this date that transmitted
to your ONCE publication letter purporng been
addressed a Mr.. Brown, of Norfolk, giving an
of the burning of the steamer Henry Chauncey
received such letter, and nothing
until late In the evening previous ~ when
called upon residence by reporter for
q similar letter another paper which
Immediately pronounced fabrication You undoubt.
has fabricated the report Tor motives when
stand. ISAAC H. WALKER, Vice President
TELEGRAPHIC DENIAL.
This despatch has been received from Norfolk |
FORTRESS MONROE, August II, 1871
The wreckng Resoute passed hero this morning,
tow, for Norfolk, the schooner w. u. Patten,
which sunk Oh Fog Point
above despatch shows concusvely that the
Resoute had the of the
steamship Henry Chauncey, OF BODY isla d. ~ c.,
was untrue and inferenaly that the whole story
Henry Chauneey Is faDrlcation.1
A TELEGRAM FROM NORFOLK.
In reply TO q telegram concerning the reported |