The New York herald., 1872-09-20


man usually holds BIS daily business coniabs, the
HERALD representative was enabled to pass the
formidable doorway unchalenged. Mr. Drew was
seated at IN ordinary writing desk, looking as calm
and collected as though Wall street was twenty
miles away. He was g.rr
lt rH SMOKING CIGAR tcn
as the HERALD man entered. ana as the latter an
nounced himself no greeted him cordially and bade
him be seated. Daniel pushed his chair a few feet
from his desk as his visitor sat down opposite him,
crossed one leg over the other and exclaimed in
good-natured tone of voice, 'Well, sir, what can
do for you ?" The HERALD Commissioner at once
dived into the corner" subject and expressed
| wish to be informed as to what Mr.. Drew knew
about the matter personally. or course he
| ~ KNEW NOTHING MN
at the start, the Commissioner came to the con-
cusion that he had task ahead OF no small pro-
| portions. n, -n.
III would like to know, Mr.. Drew,n said he fin-
ally, whether you are instrumental in getting up
| corner in Erief"
| The old man looked rather taken aback at the
abruptncss OF the question and for moment or two
eyed his visitor from head to foot. and finally re-
marked, quietly
| "NO, SIR"
| He ventured no further, and inquiringly looked
at the HERALD man as much as to say, vo
"wHAr NEXT 2"
Nothing daunted, his visitor tnnOcently remarked,
| ~ don't know much about the matter myself but
| hear 1t said on the street that you have good
| deal OF Erie on hand" ,Mast l-l
This stirred the old man up, although it was ap-
parent that he was trying to play ''smart'-to
slang phrase-with his interlocutor. Twirling his
cigar about in his hand for minute two he said
eyeng his visitor keenly all the WHILE who by the
wayprofessed to be very ignorant Us to the ways and
sCHEMINGs OF WALL STREET. ra
"Well, 1 have a few 'sheers' OF Erie. But amt
any pool never go into pool Win tn
blame ior it, and If make any, why keepit;
attempted to make corner in Erie.n
"Iain't In any corner tell YOU was the reply;
you can say thaa o lor &c certain Gc,ivg wouldn't
in Erie or any other stock II thought could
make ma ., a million doll dollars. Now mind you, you can
"You have q few shares Of Erie, though. have you
notS"
"Oh, yes; have few sheers,' but amt in any
anybody: Iwork for myself and take my chances.
they want 'em. I've got no objection"
"0f course they Will have to give you your own
price II they want any OF the shares you have2'
| THE OLD MAN
looked rather astonshed TOMS ed at this question, which
thrown of his guard entirely by the willy specu-
lator's first denial of being engaged In corner"
and contented himself by knowingly shaking hls
head and giving utterance to the mOnOsyllable-
~ understand" remarked the HERALD COmmis-
sOner, "that you and
HENRY SMITH ~
are pulling against one another at present"
~ don't know" was the reply, "what Smith Is
doing. don't know whether ne is long or short Of
stock, although land the old mans eyes twInkled
Of Erie. Butt he continued .Henry and are good
friends. There's no difficulty between us as know
what he's doing don't and don't
leered In knowing way, although he tried to ap.
ourxv .pDrv yrnrrurprNm
II understand" suggested the HERALD repre-
sentative 'that you are fighting Smith in this way
Iong Oft. You've locked up all you've got. The
cash stock is scarce. He is, therefore, compelled to
In order to get even he Is doing all he can to
TIGHTEN THE MONEY MARKET"
aSn Ss d the T
welcome to II they want them"
to hear, and after few general remarks about tine
pecuniary situation in the street the HERALD rep
came across Mr. Henry N. Smith. He happened to
he IN an an1 once IN New t % when the
came into private room and quite pleasantly
joined in H
"Why," said he, during the conversation, II
Drew or endeavoring ia any way to make "cor-
ner' In anyt thing. really have no idea what he Is
doing las, assure you you do not know whether he is
.But t. do Q you know that he Is particularly inter-
ested In Erie inst n0wfn
in everything one hears nowadays on the street.
will say, however," and the cunning Wall streeter
fefE SAILED GRIM SMILE
as he spoke 81 am short a few shares OF Erie, but
You money is scarce, and the banks Just now
all poor. You can easily see that by their last
the true story, for you know they have way OF
cooking up their tables and counting old checks.
ber Then many bought as an investment and
have since unioaded. desiring to make use Of their
money.
has been dumped in wall street T6e stock is here,
sequence. How could It be otherwise ~ ' WV
"But isn't it pull and haul between you and
ner' in Erie and the. corner IN money" ''' w
mot ut all. AS said before, do not know
D what Mr. Drew is doing; but, at any rate,
THE PREsENT sTRINGENCY
n Will cease In a lew days-l mean as far as the
: shorts in Erie stock are concerned. You il
only takes ten days for stock to cross the Atlantic
difference OF between three to five per cent In the
price OF stocks on either side of the water. That
kind Of thing can't last and in day or two every
IL learned on the street to-day that
THE BANK OF COMMERCE.
had refused TO pay you money on Its certified
ut did. It was only for small amount-a mat.
ter OF S131,000. But had the checks protested,
and and Dudley Field called In person and de.
manded payment. The checks were drawn by the
banks own depOsltors, and were duly certified be
fore presented them They were drawn on the
18th, and presented only two days afterwards.
They were a.N Ht fHs
| REFUSED PAYMENT
on the absurd ground that they had not passed
through the Clearing House. Now, want to know
what man could do If he had TO depend upon his
checks passing through the Clearing House before
he could draw raw the % money on them. he could be
wouldn't get his money until 1t suited the bank
where his deposit was. The action OF the Bank oil
Commerce to-day Is q virtual .,..
, ACKNOWLEDGEMENT OF BANKRUPTCY,
and, think, violation of its charter. At any rate
l will sue 1t, and 1t will have to suffer the conse.
quences"
"You deny, Mr.. Smith, that you are engaged in
any money cornerg'